[Expired] Chase Business Checking $200 Bonus, No Direct Deposit Required

Offer at a glance

• Maximum bonus amount: $200
• Availability: Nationwide (must open account in branch)
• Direct deposit required: None
• Additional requirements: Deposit $500, make 5 transactions
• Hard/soft pull: Soft
• Credit card funding: Not available when opening in branch
• Monthly fees: Waivable
• Early account termination fee: Bonus taken back if closed within six months
• Expiration date: July 10, 2017

The Offer

Direct Link 

• Get a $200 bonus when you open a Chase Total Business checking account, deposit $500 in new funds, and maintain that balance for at least 60 days.
• You also have to complete 5 qualifying transactions on the account. The following count toward that: debit card purchases, checks paid, Chase QuickDeposit, ACH (Credits and Debits), wires (Credits and Debits).

Enter your email address at the link above and you’ll get a unique $200 coupon to bring into a Chase branch.

The Fine Print

• Checking offer is not available to existing Chase business checking clients, local, state or federal Government entities or agencies, Not for Profit organizations, Political Action Committees, or those with fiduciary accounts, campaign accounts, or whose accounts have been closed within 90 days or closed with a negative balance.
• To receive the business checking bonus: 1) Open a new Chase Total Business Checking^® account, Chase Performance Business Checking^® (or Chase Performance Business Checking^® with Interest) account or Chase Platinum Business Checking^SM account, which is subject to approval; 2)Deposit $500 or more in new money into your new checking account within 10 business days of account opening; and 3) Maintain at least $500 balance for 60 days from the date of deposit. The new money cannot be funds held by Chase or its affiliates. 4) Complete 5 qualifying transactions within 60 days – debit card purchases, checks paid, Chase QuickDeposit^SM, ACH (Credits and Debits), wires (Credits and Debits).
• After you have completed all the above checking requirements, we’ll deposit the bonus in your new account within 10 business days.
• You can only receive one new business checking account opening related bonus per calendar year and only one bonus per account. (Business and personal are separate so even if you got a personal Chase checking bonus, that shouldn’t affect your eligibility for the business bonus, or vice versa)
• Income may be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).
• Account must stay open for six months, otherwise, bonus is forfeit.

Avoiding Fees

Chase Total Business Checking has no monthly fee when you maintain a daily minimum balance of $1,500 or more. Otherwise a $12 Monthly Service Fee will apply ($10 Monthly Service Fee when enrolled in Paperless Statements).

Other ways to waive the fee: if you maintain a linked Chase Private Client Checking or Chase Premier Platinum Checking personal account.

Reports indicate that Chase usually waives the fee for the first couple months.

Early Account Termination Fee

Accounts need to be kept open for a minimum of six months; otherwise, the bonus will be forfeited.

Our Verdict

The bonus itself is pretty good since it’s easy to meet the bonus qualification with $500 + 5 transactions, and it’s easy to keep fee-free with $1,500 parked there for six months.

That said, it’s important to point out that in the past there has been a $500 Chase checking bonus, and a few people have been getting the $500 offer via targeted mailer too. (That offer is for the Performance Checking which is way harder to keep fee-free, but many of us had success downgrading the account from Performance to Total after the bonus posted.)

This $200 deal is still good for those who were planning on opening a Chase business checking anyway or those who’d rather take advantage of this offer while it’s around. You can get one Chase business checking bonus per calendar year, and some people will find this bonus worthwhile, especially if you are going into speak to Chase business banker for other reasons.

You can also check on eBay to see if they have a coupon for $500 or $300. At the moment, I see a couple $500 coupons going for like $50 or $70. The personal $500 coupons are way easier to find or to buy on eBay; the business ones are harder to come by.

There are varying reports on Reddit as to how strict Chase is with verifying your business credentials; some bankers are willing to open an account for your business even if you don’t have the official DBA papers on hand while others are stricter. See the official Chase rules here.

I’m not sure if we’ll add this to our list of Best business Checking Account Bonuses or not.

Hat tip to noonradar