Santander Bank giving $240 PER YEAR for banking with them

Santander is one of Europe's biggest banks, and it bought New England-based Sovereign Bank many years ago.  In one of the most lucrative offers for opening a checking account I have ever seen, Santander is giving customers $20/month for having a checking account with them.  That's $240 per year.  What has my bank done for me lately?  Follow the details on this Fatwallet thread.