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Terms:

In order to qualify for this cash bonus, you need to: (1) open a new Sovereign Premier Checking, Business Owner Premier Checking, Interest Checking or Partnership Checking account by November 6, 2009, with a minimum opening deposit of $100; (2) request a Sovereign Debit Card ("Debit Card") and make 2 Debit Card purchases within 60 days after you open your account; (3) open any Sovereign savings or money market savings account with a minimum opening deposit of $100 or already have a savings or money market savings account; and (4) enroll in Online Banking at account opening. When you qualify, you will receive a credit of $100 to your new checking account within 75 days after you open your checking account. One $100 credit per customer.

Annual percentage yield (APY) examples: APY of 0.01% for Sovereign Interest Checking; APY of 0.15% for Sovereign Statement Savings. APYs are valid for new accounts only, are effective as of October 31, 2009, and are subject to change thereafter and after account opening. Fees may reduce earnings. The amount of the bonus credited to your account will be reported to the IRS as interest on your Form 1099-INT for the year in which the bonus is paid. Current personal checking customers or anyone who has had a personal checking account with Sovereign Bank or any of its divisions in the last 6 months are not eligible for this offer. Current employees of Sovereign Bank or any of its divisions are also not eligible for this offer. Current savings customers are eligible. Cannot be combined with other personal checking offers. Residential address must be located in the following states: ME, VT, NH, CT, RI, MA, NY, NJ, PA, WV, MD, DE, District of Columbia.