[This post contains affiliate links, if you make a purchase from eBay we receive a commission. Please consider using our links, we only present them when they are the best offer available. We also give back to charity every month]
Yesterday we told you about a public $400 Chase coupon (my girlfriend and I did one of these each earlier in the year that didn’t require a direct deposit). I mentioned that there are $500 Chase coupon codes currently available, so I thought I’d give you some more information on those.
Offer at a glance
- Maximum bonus amount: $500
- Availability: Nationwide, coupon must be taken to Chase branch.
- Direct deposit required: Yes, unspecified amount. Chase has closed most of the loopholes so it looks like you’ll have to do an employer payroll deposit or government benefit. More information here.
- Additional requirements: Yes, $15,000 in new funds added to a Chase savings account to earn the $200 saving account bonus
- Hard/soft pull: Soft
- Credit card funding: Yes, up to $500 with non-Chase credit cards.
- Monthly fees: $3-$12, waivable
- Early account termination fee: Yes, bonus clawed back
- Expiration date:
July 11th, 2014Expiry dates are being constantly updated, check  ebay for the latest expiry dates.
Contents
The Offer
Direct link to offer (no direct link to this offer, these coupons are available for purchase on eBay or read our tips on how to find these offers)
You do not need to complete both of these offers, you can complete one or the other or both.
- Receive a $300 bonus from Chase when you set up a Chase Total checking account, fund it with a minimum of $100 and receive a qualifying direct deposit
- Receive a $200 bonus from Chase when you set up a Chase savings account and add $15,000 or more in new funds to Chase within 10 days of account opening and maintain a balance over $15,000 for 90 days
The Fine Print
- Checking offer is not available to existing Chase checking customers, those with fiduciary accounts or those whose accounts have been closed within the last 90 days. It’s also not available to those who have closed a Chase account with a negative balance before.
- Qualifying direct deposit must be received within 60 days of account opening
- Qualifying direct deposits are:Â paycheck, pension or government benefits (such as Social Security)
- To receive the saving account offer the funds must be new funds to Chase and it’s affiliates
- Bonuses will be added to your account within 10 business days after requirements have been met (bonuses by Chase are always paid on Tuesday for some reason)
- You can only receive one checking & one saving account promotion per calendar year
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Total Checking Account $10-$12 Monthly
Depending on the state you live in Chase will change a monthly fee of $10-$12. Thankfully they waive this fee if you meet any of the following requirements:
- Maintain a daily balance of $1,500+
- Keep a minimum daily balance of $5,000+ in  qualifying checking & savings account
Chase Savings Account $4-5 Monthly
Depending on the state you live in, Chase will charge a monthly service fee of $4-5 for their savings account. Thankfully this fee can be waived if you meet any of the following requirements:
- Have a daily balance of $300 or more
- Have a repeating deposit of $25 or more coming from your Chase checking account
- Have a linked Chase Premier Plus/Premier Platinum account
Early Account Termination Fee $200-$500
Make sure you don’t close your account within six months otherwise Chase will take back any bonuses you have received. If you take all the funds out of your account you will end up with a negative balance which would be reported to ChexSystems & make it almost impossible to sign up for another bank account in the future.
If you cancel your account within six months Chase will take any bonus you have received back. If you zero out your account and then close it within the six month period then Chase will likely report a negative balance to ChexSystems which would make it difficult to open bank accounts in the future.
[Read: An introduction to ChexSystems]
Our Verdict
This is basically the same public offer we talked about yesterday, but you earn $300 instead of $200 from the total checking bonus. As long as you purchase the coupon for less than $100 on eBay you’ll end up ahead. The codes themselves seem to be quite rare and only mailed out to high value neighborhoods but you might have luck finding some using our tips here.
This is a nice little money earlier and I’d definitely buy one of these if I hadn’t already done a Chase bonus earlier in the year. It’s important to remember that you are loosing out of 3 months of interest with the Chase savings account as it only earns 0.01% you should be able to get 1% using a high interest checking account so you’ll be loosing out on $37.5 in interest from that.
Here is how I’d complete the bonus if I hadn’t already done one this year:
- Take my coupon into a Chase branch and open both accounts
- Use a rewards earning credit card to fund the checking account with $500 (an additional$10 in profit with a 2% card)
- Transfer this $500 along with another $14,500 into the savings account. This is enough to keep both accounts fee free and will also trigger the savings account bonus (+$200). I’ll be forgoing $37.5 in interest by not keeping this in a high interest account.
- Organize for my work to change my direct deposit to the Chase checking account (usually I’d do an ACH transfer or another work around, but Chase has closed these loopholes down for the most part). This will trigger the $200 checking bonus.
- Wait 90 days for the savings account bonus to post, keep $300 in there to keep the account fee free and withdraw the rest of the money
- Keep $1,500 in the checking account to keep that fee free as well
- Wait a further 90 days (six months in total) to avoid the early account termination fee
- Withdraw all my money into my regular accounts
- Close my Chase accounts so I can complete another offer next year
By doing this you’d make $510 in total, but you’d be missing out on $37.5 in interest so you’d be making a profit of $472.5. If you do decide to purchase a coupon on eBay, please consider using our link as we will earn a small commission from eBay. It’s also worth reading this post to find out how you can save 5% on all your eBay purchases. You can also see what the best coupon codes currently available are by going here.
You can click this link to see all the Chase $500 coupon codes currently available.
I want to know if I can use a 500$ direct deposit from my employer instead of my whole paycheck?
I just got one of these offers from Chase and thought “it’s too good to be true” — I can tie up some $ for six months (which fortunately I can well afford) and get $500 less taxes, etc. I read the fine print on the offer but still wasn’t convinced I’d missed something. You helpful post indicates that it’s legitimate, with no hidden fine print; thanks!
Will my credit scores be impacted if I close my chase Checking and Savings accounts after 6 months?
Also, if I was to repeat this process the next year, will chase be able to identify that I have been a previous customer? using their records? Thank you
No
I got one of these yesterday and Im going to do it tomorrow but just to clarify it only requires ONE direct deposit right, my fine print makes no mention of more than that. I was going to do $500 DD to avoid the fee but I like your strategy of using the 15k in savings to avoid fees for the first 3 months than just transferring $1500 into checking along with the $300 in savings until I hit 6 months.
I met my initial balance requirement in 10 days but I accidentally withdrew from my savings account and it went below 15,000 am I ineligible or am I good if I maintain the balance for 90 days?
Requesting $500 coupon
requesting the $500 coupon
Will a one time DD from my employer activate the bonus? Or does it need to be repeated.
One time DD will work fine.
I would like to open a business checking and savings account at Chase as I already have a personal checking/savings account with them. Are there are cash offers for opening a business checking/savings account. I recd. a $200 bonus last year for opening my personal checking account in Jan 2014.
Thanks
You can get Chase bonuses once per calendar year, your account needs to be closed for 90 days as well. If you did a personal bonus in January 2014, you’d be eligible for another personal bonus now (assuming that you’ve cancelled your account more than 90 days ago). Chase sometimes offers business checking/savings bonuses. There aren’t any business promotions currently available, but you can check back here: https://www.doctorofcredit.com/coupon-promo-codes/chase-coupon-codes/#Chase_Business_Coupons to see when they do become available.
So for the direct deposit, can I use Bank of America to do an ACH transfer to my Chase account? Does that count as a direct deposit?