Sovereign Bank has renewed its signing up for a checking account bonus from the first quarter of 2009, with another incentive of $100 for opening an account with them. You can open either a Premiere Account or an Interest Checking Account to receive the reward.

In order to qualify for the $100 Premiere or Interest Checking Account bonus, here’s what you need to do:

(1) Open a new Sovereign Premier Checking, Business Owner Premier Checking, Interest Checking or Partnership Checking account by October 30, 2009, with a minimum opening deposit of $100;

(2) ask for a Sovereign CheckCard (“CheckCard”) and make 2 CheckCard 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.

This is a checking account interest rate, so obviously it’ll be on the low side, but I’ve seen money market funds lower than the .10% APY offered in the Premiere Checking service. We do need to keep in mind that our personal finances should be part of an overall strategy, and every bit we get in interest is a plus for us. In other words, every part is important to the overall whole of generating interest and income, including an interest-bearing checking account.

For your information, Global Finance magazine has named Sovereign Bank among the top ten safest banks in the world.