Update 1/14/24: Deal is back. Comparable to the recent $500 bonus as you only need to deposit $2,000 rather than $10,000.
Update 1/30/22: Deal is back and valid until 4/21/2022
Update 1/4/22: Extended until 01/20/2022.
Update 11/10/21: Deal is back, but now $400 instead of $300. Not as good as the recent $750 bonus. Hat tip to reader shilph
Update 4/17/21: Account can now be opened online, account name is now Chase Business Complete Checking (previously Chase Business Total checking).
- Maximum bonus amount: $400
- Availability: Nationwide (not truly nationwide as not all states have branches)
- Direct deposit required: None
- Additional requirements: Deposit $2,000 & 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: None
- Expiration date:
December 22nd, 2017 February 22nd, 2018 May 21st, 2018 June 28th, 2018 October 2nd, 2018 November 19th, 2018 February 21st, 2019April 8th, 2019June 3, 2019August 8th, 2019November 21, 2019November 13, 2020July 23, 2021October 21, 2021
Contents
The Offer
- Chase is offering a bonus of $400 when you open a new Chase Business Complete checking account and complete the following requirements:
- Deposit $2,000 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)
- Wires (Credits)
The Fine Print
- To receive the business checking bonus:
- 1) Open a new Chase Total Business Checking® account, 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 $1,000 or more in new money into your new checking account within 10 business days of account opening; and
- 3) Maintain at least $1,000 balance for 60 days from the date of deposit. The new money cannot be funds held by Chase or its affiliates.
- 4) Complete 5 qualifying transactions within 60 days — debit card purchases, checks paid, Chase QuickDepositSM, ACH (Credits), wires (Credits). 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
- 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.
- 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.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Chase Business Complete Checking $15 Monthly Fee
Chase Business Complete Checking has no monthly fee when you maintain a daily minimum balance of $2,000 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.
Bonus History
- Update 11/13/20: Deal has been extended until 1/21/2021 . Probably still worth waiting for the $500 bonus to return.
- Update 10/7/20: Deal has been extended until 11/13/2020 . Probably still worth waiting for the $500 bonus to return.
- Update 7/18/20: Deal has been extended until 10/09/2020. Probably still worth waiting for the $500 bonus to return.
- Update 6/28/20: Available again until October 9th, 2020. I’d still recommend waiting for the $500 bonus to return. Hat tip to intervested99
- Update 4/7/20: Deal is back and valid until July 16th, 2020. Better to wait for the $500 bonus to return. Hat tip to reader Yo
- Update 10/3/19: Deal is back and valid until November 21, 2019. Hat tip to reader @gokeeper (Update #2: added the direct link below)
- Update 8/2/19: Deal is back and valid until October 10th, 2019. Hat tip to intervested99
- Update 7/14/19: Deal is back and valid until August 8th, 2019. Hat tip to intervested99
- Update 6/20/19: Deal is back and valid until July 1st, 2019.
- Update 5/18/19: It looks like you can do this bonus online, email yourself the code and then add it to your account. datapoints of this working. I’d still go into a branch if you can, but might be worth trying this method if necessary.
- Update 4/18/19: Deal is back and valid until June 3, 2019. Hat tip to reader Snowbird
- Update 2/22/19: Deal is back and valid until 4/8/19.
- Update 1/19/18: Deal is back and valid until February 21st, 2019. Hat tip to reader Abey.
- Update 10/01/18: Bonus is back, but it contains the new two year language. Hat tip to reader Kaung.
- Update 08/27/18: $300 Bonus is back. Thanks to reader Alec
- Update 04/05/18: $300 Bonus is back. Thanks to reader razierklinge
- Update: 03/01/18: There is now a $200 bonus available. I’d personally just wait for the $300 bonus to come along again. Hat tip to reader Steven
- Update 01/12/18: $300Bonus is back and valid until February 22nd, 2018. Thanks to blueeyes_austin. Keep in mind some people are being targeted for a 30,000 UR offer as well.
Our Verdict
Chase has offered bonuses of up to $500 on business checking accounts in the past. You can get one business checking bonus every two years now (used to be once per calendar). Keep in mind you also need to have keep your account open for six months. Because the $500 bonus is coming around frequently I won’t add this one to the list of the best business checking bonuses. Hurrying is less of an issue now with the two year language. But remember to decide for yourself if it makes sense to wait or not.
If you go in branch to open this account, it’s also worth asking if you have any pre-approved credit card offers, as these by pass the Chase 5/24 rule (more on these offers here).
Hat tip to rct12345
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
Account opened: 1/17/24
Business Banking Tiered (Pending): 3/26/24
I was never able to see any kind of bonus tracker for this, so I was mostly in the dark until payout. The biggest mindfuck was seeing the “Earn Up to $750” ads on desktop and mobile banking every week despite having already been enrolled. Called customer service twice to confirm that I was indeed enrolled.
Opened: 01/15/24
Bonus: 03/26/24
You can go above and dip back below $2k during the first 30 days as long as you get your balance back by the deadline. I deposited my $2k early on and my bonus tracker updated to hold the funds for 60 days. I transferred half out to hit a DD on another bonus not really thinking, and was under $2k for a few days.
Hopefully this helps someone. I was pretty worried I might of screwed up so I would of loved to read this DP.
Correct, you don’t need to deposit the $2k until day 30, and then you only need to maintain that balance for another 30 days. Their wording isn’t the best but the first 30 days counts towards the 60 day counter even though a $2k balance isn’t required the first 30 days. You basically get 30 free days.
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DAE think it’s worth to keep the Chase Biz open by having 2k tied up and doing nothing after the bonus posts?
The $2.50 Ach payment service is great for hitting those banks with super hard DD reqs (like Sofi and such)
but those only come around every now and then and I feel this money can be used or invested somewhere else.
The cooldown for another bonus is 2 years, so there’s no rush to close unless you really need that $2k for something else.
you’re still losing approximately $8 to $10 a month from not having it in a ~5% APY acct
I guess you could keep it like a backup emergency savings acct and use the ACH payment services for whenever you need to do a fake Direct Deposit
and close the acct around 3 or 4 months before the 24month period churn starts again.
Successfully opened on first try in a regular non-incognito browser using existing personal Chase login info. Applied and approved as sole-proprietor using EIN.
i am jealous.
Successful data point:
1/7/2024 – account opened
3/12/2024 – bonus received
I usually downgrade the account and keep it open to avoid a monthly fee but that doesn’t appear to be an option. I will wait one cycle and close the account as I need to pull out the $2,000 to use it somewhere else.
Another way to prevent the fee is:
“Spend at least $2,000 on eligible Chase Ink® Business card purchases in the most recent monthly Ink card billing cycle”
MSR on a new Ink SUB would cover that for 2-3 more months so I’ll do that if the timing works.
Going to a branch today to open. Was getting the same “…unable to continue…” message upon multiple attempts.
Questions: 1) Does account still need to remain open for 6 months, even if bonus deposited before then? 2) If it does have to stay open, but I have transferred all but a pittance, how are they going to charge the $15 MSF for the remaining months since I won’t have the minimum $2000 balance?
No, the 6 month clawback term has been removed. But please don’t close your account a day after your bonus posts, give it at least till the end of the month or statement period.Just like any bank account, your balance can go negative, and if you don’t have the amount for the monthly service fee, you will get charged an overdraft, and the cycle will continue. If you were to close your account and not bring the balance up to $0, they can put a black mark on your Chex/EWS that remains for years and then you will not be able to open any more new bank accounts at any bank. It also increases the clock for being able to do another Chase bonus to 3 years instead of 2. I would advise against doing this. You might be able to ask for a fee waiver the first time it happens, assuming you have enough funds to cover one monthly fee. Also I don’t think they charge a monthly fee for at least a couple of months after account opening.
If the account is closed with 0 balance, no one can u charge any extra fees, period.
For all those trying to apply online with a sole prop, try it using safari on your phone. I did last night and was successful. Generated a coupon, clicked the link from my email, signed into my buisness profile and picked my older Ink Cash card as the “business” to put this under. Most fields were already filled in, just had to update a few, set a PIN, and it went through and was instantly approved. Happy I don’t have to go in branch and waste time.
Did not work for me.
Tried to apply online and got a screen that says the below. I have an LLC and am an existing customer (and was logged in) with both personal and business CC’s and personal checking and savings. No idea why they won’t open the account unless it has something to do with my previous business checking for the same company, but that was well over 2 years ago. Guess I’ll call tomorrow and try to see what the issue is.
“We are unable to continue your application. We can’t open an account for you based on the information you told us. Please visit a Chase branch for help. Please refer to our branch locator to find availability info about Chase branches near you.“
I tried applying three different times online over a week before succeeding with my sole prop. The LLC applicants seem to having more trouble for some reason.
Did you do anything different on your successful attempt?
I tried multiple times as sole prop and got the same message you did.
I tried with the code from a mailer I received, then with the public link.
I tried every combination – signed in to my sole prop biz account, signed in to my personal account, and not signed in. 6 combinations, same message every time.
Then I tried with my LLC and it worked (online).
Wife + self both got the following: We’re unable to continue with your application.
We can’t open an account for you based on the information you told us. Please visit a Chase branch for help. Please refer to our branch locator to find availability info about Chase branches near you.
Process flow: entered email ==> existing Chase biz customer (Chase Ink Biz Unlim) ==> signed in ==> selected business (sole pro), only owner, not a trust
I just got the same today. Did you follow up with a branch or phone service to see what the issue is? I am going to call tomorrow. I have heard of issues opening online with sole props. Mine is an LLC so I was surprised it wouldn’t work.