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

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
    William Charles
  • On May 11, 2016, 20:06

View Comments (33)

  • 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.

    • 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".

  • 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?

  • 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?

  • 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

  • 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

    • You can get it if you're a chase checking account holder, just not business I believe.

      • You're correct. I just sat with the banker that set up my personal checking account this morning to discuss setting up a business account with them (in order to solidify my chances of being approved for the Ink+). Personal checking customers can also have a business checking account.

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

    • Possible, I usually don't like to risk it with Chase but don't see why it would be a problem.

      • 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

        • 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?

          • 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.

  • 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...

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

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