Published on August 7th, 2017 | by William Charles28
[Expired] Chase $200 Savings Bonus – Available Online
[9/25/17 updated as expired.]
Offer at a glance
- Maximum bonus amount: $200
- Availability: Nationwide (although in past experience still doesn’t work in all states)
- Deposit required: $15,000
- Deposit length: 90 days
- Hard/soft pull: Soft
- ChexSystems: No
- Credit card funding: Up to $500, but everything will code as a cash advance
- Monthly fees: None
- Early account termination fee: Six months, bonus forfeit
- Household limit: None listed
- Expiration date: September 28th, 2017
- Chase is offering a $200 bonus when you open a new Chase savings account and deposit $15,000 or more in new money within 10 business days and maintain a $15,00 balance for 90 days
The Fine Print
- Savings offer is not available to existing Chase savings customers, those with fiduciary accounts, or those whose accounts have been closed within 90 days or closed with a negative balance.
- To receive the bonus: 1) Open a new Chase SavingsSM account, which is subject to approval; 2) Deposit a total of $15,000 or more in new money within 10 business days of account opening; AND 3) Maintain at least a $15,000 balance for 90 days from the date of deposit.
- The new money cannot be funds held by Chase or its affiliates.
- After you have completed all the above savings requirements, we’ll deposit the bonus in your new account within 10 business days. You can only receive one new savings account-related bonus per calendar year and only one bonus per account. The bonus is considered interest and will be reported on IRS Form 1099-INT.
- If the savings account is closed by the customer or Chase within six months after opening, we will deduct the bonus amount at closing
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Early Account Termination Fee
Account needs to be kept open for six months, otherwise you forfeit the $200 bonus.
Chase Savings $5 Monthly Fee
The Chase Savings account has a $5 monthly fee and this is waived if you do any of the following:
- Keep a minimum daily balance of $300 or more in your savings account
- Have at least one repeating automatic transfer of $25 or more from your Chase personal checking account (available only through Chase OnlineSM Banking)
- Have a linked Chase Premier Plus CheckingSM, Chase Premier Platinum CheckingSM, or Chase Private Client CheckingSM account
This bonus is almost always available when they are offering $300 for opening the checking account as well. The advantage to this specific offer is that the account can be opened online rather than having to open the account in branch (it’s also been possible in the past to do this with the $300 checking offer, but it required offer the Premier checking account instead of total checking and that is more difficult to keep fee free. But you can downgrade it to the total checking account). The APY on this account is 0.01% so you’re basically getting $200 in interest for depositing $15,000 and maintaining it for 90 days, that works out to be an APY of 5.45%. Definitely higher than most high yield savings accounts, just keep in mind you’re only getting that for the 90 day period and then the account is basically worthless. Still one of the best savings account sign up bonuses currently available. Chase also have another $150 savings bonus that only requires $10,000 to be deposited for 90 days.
Big thanks to reader, Jeremiah B who let us know. Learn how to find bonuses and contribute to the site here.
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