Posted by William Charles on January 10, 2020
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Published on January 10th, 2020 | by William Charles

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Chase Business Total Checking $1,000 Bonus – Chase Private Clients Only

Offer at a glance

  • Maximum bonus amount: $1,000
  • Availability: Nationwide
  • Direct deposit required: No
  • Additional requirements: Deposit $2,500 & maintain it for 60 days. Complete five qualifying transactions
  • Hard/soft pull: Soft
  • ChexSystems:No
  • Credit card funding: Not available when opening in branch
  • Monthly fees: $15, avoidable
  • Early account termination fee: Six months, bonus forfeit
  • Household limit: One
  • Expiration date: April 16th, 2020

The Offer

Direct link to offer

  • Chase is offering existing Chase Private Client customers a bonus of $1,000 when they open a new Chase total business checking account and complete the following requirements:
    • Deposit a total of $2,500 in new money within 20 business days of account opening
    • Maintain that balance for 60 days
    • Complete 5 qualifying transactions within 60 days of account opening

The Fine Print

  • Checking offer is not available to existing Chase business checking customers, local, state or federal Government entities or agencies, Not for Profit organizations, Political Action Committees, or those with campaign accounts, or whose accounts have been closed within 90 days or closed with a negative balance.
  • To receive the business checking bonus:
    • 1) Open a new Chase Total Business Checking®, Chase Performance Business Checking® (or Chase Performance Business Checking® with Interest) account or Chase Platinum Business CheckingSM account, which is subject to approval;
    • 2) Deposit a total of $2,500 or more in new money into your new checking account within 20 business days of account opening; and
    • 3) Maintain at least $2,500 balance for 60 days from the date of deposit. The new money cannot be funds held by your business at Chase or its affiliates.
    • 4) Complete 5 qualifying transactions within 60 days—debit card purchases, Chase QuickDepositSM, ACH (Credits), wires (Credits and Debits).
  • 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.
  • Employees of JPMorgan Chase Bank, N.A. and our affiliates are not eligible.
  • Chase reserves the right to withdraw this offer at any time without notice.
  • Bonuses are considered interest and may be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Chase Total Business Checking has no monthly fee when you maintain a daily minimum balance of $1,500 or more. Otherwise a $15 Monthly Service Fee will apply ($12 Monthly Service Fee when enrolled in Paperless Statements). This is the easiest account to keep fee free.

Other ways to waive the fee: if you maintain a linked Chase Private Client Checking or Chase Premier Platinum Checking personal account or if you are military/veteran. 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

Now the real question is if they actually enforce being a Chase Private Client, my guess is that they will but we won’t know for sure until somebody actually tries. You can currently get a bonus of $2,000 by becoming a private client. The standard business checking bonus from Chase is $500 and that is currently available. I will add this to the list of the best business checking bonuses, but only as footnote to that $500 bonus.

Hat tip to reader Patrick

Useful posts regarding bank bonuses:



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Harry
Harry

Will report back soon

Jeff A
Jeff A

I absolutely hate that I took advantage of a $300 mailer offer in August… First, a $500 offer comes out like a week after I get my bonus and now a $1k offer.

ChurnNBurn
ChurnNBurn

Same for me!

SpicyPadThai
SpicyPadThai

Same here.. So we can get the bonus every 2 years for the business bank accounts, correct?

Dodik
Dodik

I don’t see that limitation in the fine print

Electroman

“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.”

Slomichael
Slomichael

I opened my business checking with $500 bonus 3 months ago, and received $500 bonus. I was told by my Private Client banker that if I had not gotten the bonus yet, that she could change offer code to the $1000 bonus. Sad for me.

Steve

I would mention that Sapphire Checking also waives the fee on Total Business Checking.

Betelgeuse ㊙️

So you need to merge your personal to business login to take advantage of this since they aren’t linked by default.

Steve

You don’t need to merge the online logins (I didn’t). But the banker in the branch when I opened the business checking selected something to link my Sapphire Checking account to it for the purpose of waiving monthly fee.

Betelgeuse ㊙️

I see. Thanks!

K-Man
K-Man

I’ll be a guinea pig since I need to open a business account anyway. I assume the banker can tell me whether I’m eligible for this deal. I can fall back to the $500 deal if necessary.

Garaged
Garaged

Thanks for taking one for the team. Do let us know how it went!

K-Man
K-Man

Can’t get an appointment until next week, so be patient, but the banker I talked to said he was willing to give it a shot and see if it works.

K-Man
K-Man

Works

Jonathan
Jonathan

You certain you’re going to receive the $1000 bonus? Thinking of doing the same, even though I don’t have a CPC account.

Jonathan
Jonathan

You certain you’re going to receive the $1000 bonus? Thinking of doing the same, even though I don’t have a CPC account.

Dan
Dan

Is there anyway around the 2 year rule?

Billy Bob
Billy Bob

Yes. Procrastination.

DD
DD

Nice!!

Jason
Jason

Do I need to have a real business or in other words is it going to be as easy as opening Chase business credit card ?

Robert Frank
Robert Frank

When I opened up the business checking account at the branch, had to show all business papers. DBA, state licensing, etc. PITA!
The branch also made me show paper work even for opening up a Chase Business Preferred credit card!

Garaged
Garaged

Which state was it? I’ve heard the requirements vary state to state.

Slip6
Slip6

Wife and I have a joint CPC account. Wonder if we can each open up separate business total checking accounts. $2,000 total would be sweet.

R Black
R Black

If I already have a business checking account but never got a bonus, can I open another one and get the $1000? I know it says not available to existing chase business checking customers, but if that’s true how could you get this bonus again after 2 years anyways, you’re already ineligible?

Steve

Do you mean if you close your existing account first? Based on the terms, I think you would become eligible 91 days after closing it. (I don’t know what you mean by your last sentence)

R Black
R Black

So basically I never closed my account, and I was unaware that if you close your account they would still give you the bonus and consider you a “new” business customer.

Dave
Dave

Is it possible to input the code yourself and open this account online without going to a branch?

SamSimon
SamSimon

Do we must be CPC? Or as long as banker is fine to submit the application, we are good? and will get bonus? thx

Nat
Nat

Must be opened in branch?

Christian
Christian

$500 business checking offer received in the mail and opened in branch. Generated an offer code through the direct link then asked for upgrade via SM and it was approved!

Gibunono
Gibunono

What do you mean upgrade? Could you copy the SM response here? Greatly appreciate it! And as I guess it, you are not a real CPC, correct, Christian

Dillon
Dillon

Can you please clarify what you asked in the SM? and can you confirm that you are not a CPC?
Thanks!

Chap
Chap

When did you open your account? My bonus hasn’t posted yet but they said via SM they can’t match it unless the account was opened less than 21 days ago.

Sam
Sam

I’m halfway through the $500 offer, is it worth trying to get bumped up to this offer somehow?

Antonino
Antonino

I was able to get the banker to apply the code without being a CPC. There is no mention of it being a requirement on the printout she gave me.

I should meet the requirements by the end of the week. I’ll update if the bonus posts.

Gibunono
Gibunono

Wait. The bonus requires the $2,500 staying for 60 days. You mean you just updated the code when the 60th day almost hits? Then it is possible the system will not track the new code very well if it is updated in the last stage.

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