Sovereign Bank Sovereign Cash Rewards
|Reward formula||Purchase limitation||Cap on rewards||Expiration||Annual fee|
|Varies depending on the store or website in which purchases are made.||PIN or signature transactions.||N/A||N/A (rewards credited at the end of every month)||$0|
|Cash Rewards is a program that rewards debit card holders when making purchases at participating online and in-store retailers. Cash rewards can take up to 60 days to be credited to your Sovereign checking account after the date of purchase. In certain circumstances, it might take 90 days or more. All Sovereign Cash Rewards participating retailers and their cash reward offers are listed on the program website. Online retailers who are participating in the program will also provide a link on rewards.sovereignbank.com that you must use in order to earn any cash rewards for online purchases. You can keep track of your earned rewards by visiting the Rewards Summary page and checking your pending and credited cash rewards.
Expiration: Cash rewards will automatically be deposited to your Sovereign checking account.
Bankrate.com surveyed the largest banks and thrifts in the top five markets in the country plus the top five credit unions to find out what debit card rewards programs are available and how they work. The survey was taken from Aug. 22 to Sept. 9, 2011.