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Terms:

Qualify for a $200 cash bonus when you:

* Open a new Sovereign Free Business Checking or Business Checking Plus account with a $100 minimum deposit
* Open a new Business Money Market Savings account with a $100 minimum deposit
* Get a Sovereign Business Debit Card
* Enroll in Business Online Banking at account opening

Receive $200 off processing fees*** when you sign up for a Sovereign Merchant Services account and link it to your Sovereign Business Checking account. We are also waiving the $250 origination fee**** for a Sovereign Business Advisor Line of Credit. That’s an additional $450 in savings.


In order to qualify for the $200 cash bonus, you need to do all of the following: (1) open a new Free Business Checking or Business Checking Plus account by March 13, 2010, with a minimum opening deposit of $100; (2) open a Sovereign business money market savings account with a minimum opening deposit of $100 or already have a business money market savings account; (3) enroll in Business Online Banking when you open your new checking account; (4) request a Sovereign Business Debit Card ("Business Debit Card"). When you qualify, you will receive a credit of $200 to your new business checking account within 75 days after you open your checking account. The account must be open in order to receive the bonus. One $200 credit per business entity as identified by taxpayer identification number (TIN). We reserve the right to decline to open an account. The amount of the bonus credited to the account will be reported to the IRS as interest for the year in which it is paid. Customers that currently have or have had a business checking account in the last 6 months at Sovereign or any of its divisions are not eligible for the business checking offer.

** Basic transactions include checks paid, teller deposits, ATM deposits, deposited items, and ACH items (electronic debits and credits not originated by customer). Sovereign Merchant Services (credit and debit card payment processing) and Sovereign Payroll Services ACH debit items are not included.

*** Rebate on credit card processing fees will be applied at the end of the third month, based on the actual accumulated credit card processing fees for that period or $200, whichever is lower. Offer available only upon approval of the merchant account. Additional merchant locations with the same taxpayer identification number are ineligible for the stated offer. Normal fees will apply after the three-month period or after the $200 credit is used, whichever comes first. Stated offer is valid for new Sovereign Merchant Services customers from January 30, 2010, through March 13, 2010, and are actively processing on or before April 11, 2010.

**** To receive the $250 origination fee waiver, you must maintain a Sovereign Business Checking account and submit a completed Sovereign Business Advisor Line of Credit application between January 30, 2010, and March 13, 2010. Other fees may apply.