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Terms:

Open a new Free Business Checking or Business Checking Plus account by February 27, 2009 with a standard minimum opening deposit of $50 and request a Sovereign Business Visa® CheckCard ("Business CheckCard"). If 6 Business CheckCard purchases are made within 60 days after account opening, a credit of $150 will be made to the new business checking account within 15 days after the expiration of this 60-day period. The account must be open in order to receive your bonus. One $150 credit per business entity as identified by taxpayer identification number (TIN). The amount of the bonus credited to your 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. Open a new Business Owner Premier Checking account by February 27, 2009 with a standard minimum opening deposit of $10 and request a Sovereign CheckCard ("CheckCard"). If you make 6 CheckCard purchases within 60 days after you open your account, you will receive a credit of $100 to your new Business Owner Premier Checking account within 15 days after the expiration of this 60 day period. One $100 credit per customer. Your account must be open in order for you to receive your bonus. Annual percentage yield (APY) of 0.05% for Business Owner Premier Checking when balance is less than $5,000 and 0.20% APY when balance is $5,000 and above. APYs valid for new accounts only, are effective as of 1/17/09 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 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 the Business Owner Premier Checking offer. Current employees of Sovereign Bank or any of its divisions are also not eligible for this offer. Business Owner Premier Checking offer cannot be combined with other personal checking offers. Sign up for a new Sovereign Merchant Services account and a $200 credit will be paid to the qualified account after 60 days of merchant processing to a Sovereign business checking account. Offer is valid for new Sovereign Merchant Services customers that request Merchant Services from 1/17/09 through 2/27/09 and are actively processing as of 3/13/09.