Posted by William Charles on May 11, 2016
Bank Account Bonuses

Published on May 11th, 2016 | by William Charles

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Chase Business Checking $300-$500 Bonus – No Direct Deposit Required – In Branch Only

It’s possible for everybody to get this bonus now, click here for more info.

  • Maximum bonus amount: $300-500
  • Availability: Nationwide (must open account in branch)
  • Direct deposit required: None
  • Additional requirements: Deposit $500 in new to Chase funds and maintain that balance for 60 days
  • Hard/soft pull: Soft
  • Credit card funding: Not available when opening in branch
  • Monthly fees: $10-12, waivable
  • Early account termination fee: Bonus taken back if closed within six months
  • Expiration date: Varies based on coupon purchased

The Offer

  • There are actually three different offers available. All of the offers require you to deposit $500 (funds must be new to Chase) and maintain that balance for at least 60 days. Here are the different offers:
    • Receive $300 when you open a Chase Total Business Checking account
    • Receive $300 when you open a Chase Performance Business Checking account
    • Receive $500 when you open a Chase Performance Business Checking account

chase business checking

How To Find These Offers

The Fine Print

  • Offer not available to existing Chase business checking customers and those who have closed accounts within the past 90 days
  • Bonus will post 10 days after all the requirements are met
  • Coupon cannot be transferred to others (this hasn’t been enforced in the past, but see Citi for how this can change quickly)
  • Account must stay open for six months, otherwise bonus is forfeit
  • Limit of one business checking bonus per calendar year
  • All bank account bonuses are treated as interest, as such you must pay taxes on them.

Avoiding Fees

Depending on your offer, you’ll need to open a total or performance business checking account. They have very different fee requirements, so keep that in mind.

Chase Total Business Checking $10-$12 Fee

This account has a monthly fee of $10 ($12 if you opt for paper statements) and that’s waived if you maintain a minimum daily balance of $1,500

Chase Performance Business Checking $20 Fee

This account has a monthly fee of $20, that’s waived if you maintain qualifying business deposits of $50,000+.

Early Account Termination Fee

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

Our Verdict

Chase products basically earn no interest, so keeping $50,000 in an account isn’t going to be a good option (if you put $50,000 in a 1% account you’d earn $250 in interest in six months. Not to mention it’s possible to earn 5% APY). That being said, you could just pay the $120 in fees (and usually the first two months is waived for most bank accounts). In that case you’d net $380 (maybe $420) after fees on the $500 offer, but you’d need to pay taxes on the full $500.

The other option is the $300 total business checking account, this is much easier to keep fee free with a balance of only $1,500 required. I think both the $300 total checking and $500 performance checking are worth doing, but I’d stick clear of the $300 performance checking offer.

We’ve added this bonus to our list of the best business bank bonuses currently available. There are also Chase personal coupons for up to $500 as well that are worth checking out.

Hat tip to Miles to Memories & /r/churning



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Travis
Travis

My bank required both an EIN and fictitious name statement to open account.

Mark O
Mark O

Same here…wanted me to register with the state so I said no thanks.

Jon
Jon

For a guy who has both of these…care to share how I can find a code to use?

boridi
boridi

The $300/$200 personal checking/savings offer was publicly posted on their website’s main page this week.

jnrfalcon
jnrfalcon

Got a mailer for $200 for opening a biz total checking. The point is I do not have any business account with Chase or any other bank… Have no idea why they target me for biz promotion…

lcqq
lcqq

Can I just use my SSN to open this biz account?

Mark O
Mark O

Nope need an EIN and need to be registered with the state.

Decker
Decker

You can open as a sole proprietorship which only requires your SS and you do not have to register a business with the state if the business is your name

mord1
mord1

do you know that for a fact that a sole proprietor can open the account with SS or are you assuming?
what do you mean the business is your name? on my schedule C?

Heather
Heather

I spoke to a banker at Chase today, and he said that sole props only need SSN. I don’t know how laws vary state to state, but in Georgia, only corporations and those needing a professional license are required to register with the state. Sole props only need a business license from the county they operate in. Many sole props don’t use trade names, so your business name would just be your name.

Brad
Brad

Can you just downgrade the checking account from Performance to Total checking after the $500 posts This way you aren’t cancelling the account?

barrytuneup
barrytuneup

hard to believe that no one here has Chase CA. You can’t get it if are currently a Chase CA customer. And constantly closing and opening Chase accts CA with Chase will probably blacklist you for future accts. I already have many CC with them so don’t want to jeopardize my 5% cats. + my Ink cards w/5% cats

Vijay
Vijay

Just determined that anyone (may be) can get this coupon as long as they have valid online login account with chase. I just googled for this coupon (using “chase performance business checking $500”) and found the below link and when you click on to that ‘Chase’ link it will take you to login page and once you login it will pop up with $500 coupon. Good Luck to all…

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=0ahUKEwi7jeOsm-HMAhWBVCYKHYseDpYQFgg2MAE&url=https%3A%2F%2Fwww.chase.com%2Fbusiness-banking%2Fbusiness-checking-comparison&usg=AFQjCNEePirZpKgqLYq8yfTz-3MF0aKKsA&sig2=P-n0CI4y85GnMu0m8szdqg

Brian
Brian

can you get the bonus for one of each account or is the bonus limited to one of any Business acct in a calendar year?

Sam
Sam

I just got off the phone with Chase and was told if I was a new checking account customer, it would be a hard credit pull (soft for existing customers). Is this true? Can someone confirm this?

Heather
Heather

I did not submit to a credit check for my consumer or business checking accounts with Chase.

lonelycrowd

Attempted to respond to a targeted $500 Performance Checking offer in Syracuse NY today. Turned away – said that they simply wouldn’t do a sole proprietorship with only a SSN, we needed to at a minimum file a “DBA” certificate with the state.

Heather
Heather

This must be a branch or state-specific requirement because both I and another local churner successfully opened the Performance business checking at the same Chase branch here in Atlanta as sole props using our SSNs. I opened my account on Thursday, June 9, and my friend opened his on Friday, June 10. I have a legitimate, documented sole prop, but my friend has “an eBay business”.

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