Posted by William Charles on January 5, 2019
Bank Account Bonuses

Published on January 5th, 2019 | by William Charles

87

Chase Business Checking $200 Bonus – No Direct Deposit Required

Update 4: 1/5/19: Offer has been extended until April 9th, 2019. Hat tip to reader Toad.

Update 3 (7/13/18): $200 offer is back through October 10th, updated the link below. Might be worth waiting for a $300 bonus, let us know if you see one.

Update 2: The $300 bonus is back, so do that one instead.

Update 1: Offer is back. Keep in mind there was recently a $300 bonus so it might be wise to wait for a better offer. Via maximizing money.

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: Nationwide (must open account in branch)
  • Direct deposit required: None
  • Additional requirements: Deposit $1,000, 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: December 29th, 2017 April 4th, 2018 October 10th, 2018  April 9th, 2019

The Offer

Direct link to offer

  • Chase is offering a bonus of $200 when you open a new Chase Total Business checking account and complete the following requirements:
    • Deposit $1,000 in new money within 10 business days & maintain that balance for 60 days
    • Complete five qualifying transactions within 60 days of account opening. Qualifying transactions are:
      • Debit card purchases
      • Checks paid
      • Chase QuickDeposit
      • ACH (Credits and Debits)
      • Wires (Credits and Debits)

 

The Fine Print

  • After you have completed all the above checking requirements, we’ll deposit the bonus in your new account within 10 business days.
  • You can receive only one new business checking account opening related bonus every two years from the last enrollment date and only one bonus per account
  • If the checking account is closed by the client or Chase within six months after opening, we will deduct the bonus amount for that account at closing
  • 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.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

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

Keep in mind that Chase has offered a $500 business checking bonus in the past. Some readers have also been receiving targeted offers for the $500 bonus as well. Those bonuses are for the performance checking account, this account is harder to keep fee free but you should be able to simply downgrade the account after getting the bonus to post (and the monthly fee is waived for the first two months. You can check eBay to see if there are any $500 coupons for sale, but at the moment I don’t see any. Other people have also been targeted for a $300 offer with the same terms as this $200 bonus.

I’d recommend holding out for a $500 bonus as it’s significantly better than this $200 bonus. I’m not going to add it to the list of the best business checking bonuses for those reasons for now. Especially considering you have to wait two years between bonuses now.

Useful posts regarding bank bonuses:



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Matthew
Matthew

A friend just received a targeted offer today for $300 with same terms as this offer.

James B.

I also just received a targeted offer today for $300, but it has the one bonus per two year language. Does your friend’s offer have the same restriction?

NN
NN

got the targeted $300 offer
now if I just have a business…

captainsave
captainsave

Got targeted for $500 offer. Same timing as last year. Just closed biz acct 3 months ago too. Love chase!

Matt
Matt

I opened one up with a $300 bonus

Moe
Moe

Is a “personal” checking account considered as I got the bonus once this calendar year?

Trevor
Trevor

I’m wondering the same thing — anyone have any info on that?

Avi
Avi

Is it possible to open a Chase Business checking account with a “business”? Anyone? I got a mailer from my friend and would be great if I could use it.

MP
MP

I’ve always wondered about those… Having a business is not mentioned anywhere as a requirement.

Matt
Matt

Yes I opened mine up with a “business”. Super easy.

MP
MP

But are they really asking anything about having a business, the name of the business?

MH
MH

Do you have any business CCs from Chase or other banks?

Chase does ask about a business for these at least they did for my last one.

MP
MP

No. I don’t have a business, either.;-) That’s why I’m asking.

Slidellian
Slidellian

IIRC, I registered a DBA with the county clerk and had it notarized, then book the notarized document to Chase and opened a business account as a sole proprietor.

Slidellian
Slidellian

See one of the bankers at a Chase branch and ask what you need to bring in order to open an account as a sole proprietor.

James B.

The Chase requirements probably vary from state to state like they do with other banks. Best to visit a local Chase branch to verify the requirements to open as a sole proprietor.

Gerald
Gerald

When I opened one of these a few months ago for the $300 bonus, they asked about my business, but didn’t require any documentation. I file a schedule C, so I could honestly say I have a business.

MH
MH

I got the email today for $500

For new Chase Business Banking customers only. Open a Chase Performance Business Checking® account, deposit $1,000 in new money within 10 business days of account opening, maintain that balance for 60 days and complete 5 qualifying transactions within 60 days – debit card purchases, checks paid, Chase QuickDepositSM, ACH (Credits and Debits) and wires (Credits and Debits).2

Slidellian
Slidellian

Looks like I’ll have to close my existing Chase business checking account and see if I’m eventually targeted for a bonus.

Dan
Dan

Is a “personal” checking account considered as I got the bonus once this calendar year? Same question:)

Are personal and business bonuses separate for the 6 month rule?

Gerald
Gerald

William, you said closing the account within six months causes the bonus to post. Obviously that’s not what you meant to say.

MP
MP

Is it not allowed to post links to other similar blogs here…? I just found some info I wanted to share and I couldn’t post it… The first time I thought I made some mistake, but it didn’t go through the 2nd time, either.

Jake N
Jake N

William Charles – the At A Glance section shows a $500 deposit requirement, while the screenshot and other details show $1,000

For those who received the targeted offer, was it by mail or email and did you complete the $500 offer last year too? Wondering if I should wait around for a targeted bonus or just pull the trigger.

Michael
Michael

Today I received the $500 offer in the mail. I opened CIP mid-April. The offer must’ve been triggered by opening the business credit card. That is, this is the first time I’ve ever received such offer from Chase even though I’ve had Chase personal checking account as well as personal credit cards for several years.

Jake N
Jake N

Thanks, Michael, that’s helpful info. I think I’m just gonna pull the trigger on this one.

Cindy
Cindy

Is the one bonus per calender year based on the account open date or actual b9nus posting date? I.e if I open account now but somehow the bonus doesn’t post till Jan 2018, can I still open an account in 2018?

Duke I.
Duke I.

If you opened the account on October 21, 2017, you must keep it open until at least April 22, 2018(6 months plus one day) to be on the safe side. The get bonus again you’d have to wait until after July 22, 2018 (90 days) to be eligible.

Chin
Chin

DP
9/19 opened Biz acct in-branch with $5000 deposit (Banker pulled the $ out of personal checking.)
10/05 debit card transaction req met
11/28 +200 bonus

Duke I
Duke I

Bonus for business checking posted 12/26. Received bonus for personal checking last month.

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