Heads up, awardtrail readers! Santander Bank is offering a bonus of $400 for opening a new Santander Select checking account. To snag the bonus, you'll need to open an account in-branch using a specific promotion code and have direct deposits totaling $5,000 or more hit the account within the first 90 days. The offer is valid until October 3, 2023, and is available to residents of NH, MA, RI, CT, DE, NY, NJ, PA, or FL (with some ZIP code restrictions in Florida).

Why should you care? Well, $400 is a nice chunk of change for meeting some fairly straightforward requirements. Direct deposit requirements can usually be met fairly easily. Just make sure you read the fine print! You need to keep the account open for a certain period (or risk a fee), and be aware of any monthly fees and how to avoid them. Also, remember that the bonus is considered interest, so Uncle Sam will want a cut come tax time (it will be reported on form 1099-INT).

There are a few catches. You can't currently be a Santander checking customer or have had one in the past year. The account needs to be opened in a branch with a promotion code. And if you're thinking of churning this offer with multiple accounts, note that only one bonus is allowed per person.

Overall, if you live in an eligible state and can swing the direct deposit requirement, this Santander bonus could be a relatively easy way to pad your travel fund!