Update 1/16/24: Extended to 04/17
Update 10/6/23: Extended to 01/24/2024.
Offer at a glance
- Maximum bonus amount: $3,000
- Availability: Nationwide, in-branch only
- Direct deposit required: None
- Additional requirements: Deposit $500,000 and maintain for 90 days
- Hard/soft pull: Soft
- ChexSystems: No
- Credit card funding: Cannot fund with debit or credit in branch.
- Monthly fees: None
- Early account termination fee:
Bonus taken back if closed within six monthsNone - Household limit: None listed
- Expiration date:
April 23rd, 2019 June 15th, 2019 August 6th, 2019 September 28th, 2019November 19th, 2019 October 19, 2022April 19, 2023
Contents
The Offer
Direct link to offer (incognito)
- Meet with a Private Client Banker to upgrade (or open) your Chase account to Chase Private Client and receive a bonus of up to $2,000 when you meet the following requirements:
- Within 45 days transfer a total of $250,000 or more in new money to a combination of eligible check, savings and/or eligible investment accounts (deposit $250,000 for $2,000 bonus or $150,000 for $1,000 bonus)
- Maintain that balance for at least 90 days
The Fine Print
- Offer not available to existing Chase Private Client customers.
- To receive the $1,250 bonus: 1) Meet with a Private Client Banker to upgrade your existing account to Chase Private Client CheckingSM account. 2) Within 45 calendar days, transfer a total of $250,000 or more in qualifying new money or securities to an eligible checking, savings and/or J.P. Morgan investment accounts (opened in a Chase branch and serviced by a J.P. Morgan Private Client Advisor or Financial Advisor).
- Ineligible accounts: any You InvestSM accounts, Certificates of Deposit, insurance products; fixed and variable annuities; 529 College Savings Plans; any retirement accounts such as Traditional and Roth IRAs, Keogh, Simple IRAs, and 401(k) Plans.
- The qualifying new money or securities must be transferred from non-Chase or J.P. Morgan accounts and cannot be funds or securities held by Chase or its affiliates. AND 3) Maintain at least a $250,000 balance for at least 90 days from the date of funding (gains and losses to qualifying investment balances from trading or market fluctuation will not be counted for purposes of meeting the balance requirements).
- After you have completed all the above requirements, we will deposit the bonus in your existing Chase Private Client Checking account within 10 business days.
- The Annual Percentage Yield (APY), for Chase Private Client Checking effective as of 01/22/19 is 0.01% for all balances in all states. Interest rates are variable and subject to change. Additionally, fees may reduce earnings on the account.
- You can only participate in one Chase Private Client Checking, Sapphire Checking or You Invest new money bonus in a 12 month period.
- Coupon is good for one time use. Bonuses are considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
As far as I know there is no monthly fee, but if you don’t maintain the $250,000 balance requirement they might downgrade your account to something else
Early Account Termination Fee
Bonus taken back if closed within six months There is no longer any early termination fee.
Our Verdict
You could sign up for a $600 checking/savings bonus and then wait six months and then do this $1,250 deal in branch. The fine print says you’re not eligible for this bonus if you’ve done any Sapphire Checking, Chase Private Client Checking or You Invest new money bonus in a 12 month period, rather than every two years on the regular Chase checking/savings bonus.
For most people this $2,000 Chase Private Client bonus isn’t worth considering because YouInvest balances do not qualify and Chase deposit accounts earn a very low APR and the other investment accounts have higher fees than other options. Because of that I wouldn’t recommend signing up for this deal.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
Post history:
- Update 7/23/23: Extended until 10/18/2023.
- Update 2/21/23: At some point the terms changed slightly so that you only need to have the funds in the account from day 45 through day 90. There has also been some discussion in the comments about using J.P. Morgan investing without paying fees. And so there might be ways for this offer to make sense.
- Update 2/20/23
: There’s a new link(open incognito) with a tiered deposit requirement – $1,000 bonus with $150,000; $2,000 bonus with $250,000; $3,000 bonus with $500,000. Still none of these are very interesting IMO given the loss of interest on the funds. - Update 1/13/23: Offer extended to 4/19/23.
- Update 10/15/22: Offer extended to 1/25/23
- Update 8/15/22: Deal is back at this link (incognito) and valid through 10/19/22. The fine print indicates it works for new Chase checking customers or existing checking customers who upgrade or existing Private Clients who make a $250,000 deposit. Requires Chase branch visit.
- Update 1/18/21: Deal is back, but has been reduced to $2,000. Valid until 4/14/21.
- Update 11/22/20: Deal has been increased to a maximum $3,000 bonus. Hat tip to reader EW
- Update 9/27/20: Deal extended until 11/23/20.
- Update 8/10/20: Extended until 10/1/20.
- Update 5/26/20: Deal might be better than we originally thought. Normally there is a 1.25% fee, YouInvest doesn’t have this fee but is excluded from counting for this bonus. They have another self directed account called “Full Service“, this has no management fee if your a Chase Private Client (CPC). There is an annual fee of $50, but this is waived if you are CPC or have $25,000 in investments.
- Update 5/25/20: Deal is back and valid until 8/10/20. Hat tip to reader Don
- Update 1/19/20: Deal has been extended until March 6th, 2020.
- Update 11/20/19: Bonus has been extended until January 17th, 2020.
- Update 11/8/19: Bonus has been increased to $2,000 (up from $1,250).
- Update 8/15/19: Deal has been extended until September 28th, 2019. Hat tip to MtM
- Update 6/17/19: Deal has been extended until August 6th, 2019.
- Update 4/24/19: Deal has been extended until June 15th, 2019.
I also received a mailer from Chase with enhanced offers – $1000 ($150-249k), $2000 ($250k-$499k), $5000 ($500k+). Expires 7/24/24. I had skipped the previous $3,000 offer. Maybe they upped the ante?
So it’s only the top tier that has changed from $3000 to $5000? Do you know why you were targeted perhaps? I also skipped previous offers but only got a mailer for $3000 this week.
Just received a mailer from Chase with enhanced offers – $1000 ($150-249k), $2000 ($250k-$499k), $5000 ($500k+). Expires 7/24/24
I got my bonus in 2021, and I thought that I don’t have to open a new investment account to get the bonus. Just checked but my account is “Self-Directed.”
Not sure if Chase has changed terms or converted accounts to different types since then. Looks like I have to open a new “Full Service” investment account in order to get the bonus. Is that correct?
I read most of this thread but saw no data point regarding a transfer of an individual (not an ETF or Mutual Fund) bond position. If I moved an individual (California) bond position that is valued over $250,000, would this qualify for the $2K bonus?
I started buying a couple of funds on26 & 27th worth 100k, MJLXX and PTAXX (both returning around 5%) . I should have had some returns for 2-3days in March of 100k investment but my account and statement dated March 29 for JPM don’t show any gains (unlike WF account which at the end of the month regardless of the number of days invested would credit the gains). Any ideas why 2-3 days of gains don’t show?
MJLXX’s ex-dividend date was 3/28, while PTAXX’s ex-dividend date was 3/31, so it looks like your purchases were in time. The pay date is 4/1, so I can understand the dividends not showing up on your 3/29 dated statement, but they nonetheless should show up in your transaction history…
I owned a position in VUSXX when I did the CPC offer last year and it always paid out on the 1st of the month
@Guest_#1824900 Yes, I had looked at transactions also and as of today I don’t see any dividends for either of those funds under transactions. I don’t want to ask my advisor because he wanted me to place trade orders through him but I will call their 800 number tomorrow.
@Guest_1824900 How did you buy VUSXX – did your advisor place the order and if so did you have to pay a commission? When I try to place an order for VUSXX I get the following message:
We can’t place your order.
I had purchased it at Etrade and just ACATS’d it over.
I had called the service line to confirm before transferring over. I’ve switched to using ETFs like USFR rather than MMFs, just to avoid silliness like this.
>…buying a couple of funds on26 & 27th worth 100k, MJLXX and PTAXX (both returning around 5%)
You bought these within the Chase Wealth Management account?
Did they completely waive the Advisory Fees or are you also paying a 1.45% annual advisory fee on the 100k?
Yes, bought them directly within chase wealth management (not through advisor and so no fees as per other previous comments if bought directly).
Could it be due to the date of execution and then the settlement date and the fact that the settlement could have fallen on Sat. (30th) or Sun. (31st)?
IF anyone has done WF premier checking bonus before?,–I am planning to transfer the WMPXX funds, hopefully in-kind from WF to this Chase “full service” investment account for the CPC bonus.
Wondering does anyone know if Chase allows WMPXX? or if not, what mutual funds to replace with, until the bonus hits. TIA
I know you can’t buy WMPXX at JPM but I don’t know if they will allow transfer of it – ask your advisor.
My advisor wants me to place trade orders through him and the way my account is structured (according to him) is that I have to tell him specifically what to buy. He says he can only tell what the commission is after I tell him the symbol. Is this BS? What should I do? Should I just ignore him or may be place first trade for like25-50K through him and then do subsequent trades myself?
Looks like different commissions for stocks/ETFs and MFs via an advisor, so it makes sense: https://www.chase.com/personal/investments/advisor/pricing
I’d just buy whatever at chase.com and tell him thanks, but I didn’t want to trouble you, so already invested all my funds
My advisor more or less wants me to place buy orders through him, he has been following up every week since signup and I said my money is tied up and I will move it soon (signed up a month ago and I am moving in funds now). Although he has not said that I “must” place orders via him, I wonder what happens if I bypass him place a trade order myself. I don’t know what the fees are – I want to ask him but I wanted to be quiet because once I ask him, I have to then ask him to place the order. Optionally, may be I will place a first $25k order with him and then do it myself? Would that cause any problems? Thanks!
Question above Linking Accounts – When I add money to private checking and move to brokerage, before moving the money do I need to link private checking and brokerage accounts so the money moved to brokerage counts towards the deposit tiers?
If so, how do I make sure that accounts are linked properly and money held in brokerage counts towards checking bonus tiers. Thanks!
No linking needed for chase AFAIK
Thanks! So I understand from comments that as long as I see Investments by JP Morgan on the top left side of the navigation, any money I put the brokerage account counts?
Wondering if anybody has a “willing” advisor recommendation to open the account near Seattle or Eastside? TIA!