This bonus has expired, view more bonuses here.
The Offer
Check your emails for an offer from Chase for business Merchant Services:
- Get $300 when you open and activate a new merchant services account and settle $500 of transactions into your Chase business checking.
Others got a similar offer with a lower $25 transaction requirement.
The Fine Print
- Offer expires June 30, 2018.
- Your bonus will appear in your account within 10 business days after completing qualifying activities.
- Coupon good one time and may not be transferred to others.
- Merchant Services Offer: If a client is opening a new Chase business checking account, card transactions processed through Merchant Services must settle to this account for the bonuses to be fulfilled for the offer. If a client has an existing Chase business checking account, confirm which checking account they will settle to and select it in E- Coupon Application in FSD.
- The cash bonus will deposit to your Chase Business Checking account within 10 business days after the requirements are met.
- Clients that are currently processing with Merchant Services, or have participated in a similar offer within the past 12 months, do not qualify.
- Merchant services account-related bonus is limited to one per calendar year.
- Chase reserves the right to withdraw this offer at any time without notice. Chase may deny any attempts to earn multiple bonuses. The offer is not available on account conversions or in combination with any other offer and cannot be transferred. Employees of JPMorgan Chase Bank, N.A. and our affiliates are not eligible.
- The bonus is considered interest, which may have to be reported on an IRS Form 1099-INT (or a Form 1042-S, if applicable).
Avoiding Fees
- $9.95 monthly fee
- Minimum $25 in monthly payment processing fee
- $100 setup fee, but that’s waived when signing up for online checkout or mobile checkout
Our Verdict
Offer seems to have been sent out to anyone who ever had a Chase business checking or perhaps to anyone who has a Chase business credit card.
If you don’t currently have a Chase business checking, you’ll have to signup for one first to do this deal. You can get a $300 bonus for doing so currently, and some Chase Private Clients can get $750 for doing so. It’s a nice stack, just realize that you need a real business, especially for merchant services where you’ll probably have to explain what types of transactions you’ll be processing.
It might be possible to get the $300 merchant services bonus with $34.95 in total fees ($9.95 + $25) if you finish off the required payment processing within the first month, but there could be more fees/hurdles involved that we aren’t noticing.
I’m not sure if they’ll actually send out a 1099-INT for the bonus or not, just beware that if they do, the 1099 will be for the full $300. If you only process $500, they probably won’t send out any 1099-K, but I don’t know that for certain.
This deal makes much more sense for someone who is anyway going to a Chase branch to open a Chase business checking for one of the other bonuses mentioned, add this merchant services offer for an added incentive. If you try this out, let us know how it goes.
