Posted by William Charles on November 21, 2019
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Published on November 21st, 2019 | by William Charles

196

Chase Business Total Checking $500 Bonus – No Direct Deposit Required

Update 11/21/19: Extended until 01/23/2020.

Update 11/13/19: Previous link had expired, but reddit user sefinadebelu has found a new working link. New end date is January 23rd, 2020. Always a good idea to send yourself a coupon as those can be used even after the link to generate them dies.

Offer at a glance

  • Maximum bonus amount: $500
  • Availability: Nationwide (not truly nationwide as not all states have branches)
  • 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: None
  • Expiration date: November 21, 2019 01/23/2020

The Offer

Direct link to offer

  • Chase is offering a bonus of $500 when you open a new Chase Total Business checking account and complete the following requirements:
    • Deposit $2,500 in new money within 20 business days & maintain that balance for 60 days
    • Complete five qualifying transactions within 60 days of account opening. Qualifying transactions are:
      • Debit card purchases
      • Chase QuickDeposit
      • ACH (Credits)
      • Wires (Credits)

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.
  • 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

The standard offer is $300, requirements are basically the same but this $500 bonus requires a $2,500 deposit instead of only $1,000. This $500 bonus is still significantly better in my opinion. Unfortunately you’re not eligible for this bonus if you’ve received a Chase business checking bonus within the last two years (I believe the timer is based on when you last signed up for an account), so a lot of readers will be ineligible. If you are eligible I do think this bonus is worth doing as the last $500 public bonus was offered way back in 2016 and that required the performance account that is harder to keep fee free. Because of that I’ll add it to the list of the best business checking bonuses. I’d also recommend e-mailing yourself a code, as I think Chase will definitely pull this offer early (and maybe even within the first 24 hours).

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). Can also do the Chase $600 checking/savings personal bonus as well. You might not need to open in branch either, with the personal bonus it has been possible to use the promo code that is e-mailed to you during the online sign up and the bonus has triggered but YMMV.

Hat tip to reader Brian C

Useful posts regarding bank bonuses:



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Laksh
Laksh

Do I need to be a citizen to apply? Also, do we need EIN? Or Biz Card logic applies here wherein we can do Sole Prop and apply with just SSN?

DD
DD

Just use your name in the business — in CA, for example. “Joan Doe Business Solutions”. Other states could be different.
– Non U.S. Citizens: Permanent Residents must provide their Permanent Resident
– Alien Card (Green Card). Non U.S. Citizens who are not Permanent Resident Alien
Cardholders must provide their Passport or Matricula Consular Card.
– Secondary ID Examples: Credit Card/Debit Card with embossed name, Employer ID, Utility Bill, etc. https://www.chase.com/content/dam/chasecom/en/business-banking/documents/sole-proprietorship-checklist.pdf

bax
bax

No.

RB
RB

DD bax So, if a Non US Citizen/Green Card Holder present in the US on a Visa can apply for this business account, most likely it needs to be done in person at a local branch, right?

DD
DD

My experience is, Yes. In person is best for these generous bonuses. Citizen or Not. Chase has been in business a long time. lol
> Individuals That Need To Be Present at Account Opening:
• Sole Proprietorships with one owner – the owner
• Spousal Sole Proprietorships — both owners
• Sole Proprietorship Living Trust – the trustee(s)
• Sole Proprietorship with a Power of Attorney – the agent
• If you need to add authorized signers to the account, they must also be present
https://www.chase.com/content/dam/chasecom/en/business-banking/documents/sole-proprietorship-checklist.pdf

RB
RB

DD Thanks!

Matt
Matt

Ugh. Did the last one in December 2017.

Radster
Radster

FYI: Bonus has been extended. You’re now eligible.

Jx
Jx

Damn, I need 2 more months to pass for 2 years.

Matt Katakis
Matt Katakis

3 months for me. This sucks.

Kyle
Kyle

4 months for me!

El Guapo
El Guapo

Why does the title say 500 while the article says 300?

Duke I.
Duke I.

Since most of the terms and conditions are nearly always the same from previous deals the editor just updated the linkS. What’s in the link when you click on it is what’s important.

Ash
Ash

Wife just got the bonus yesterday. Asked to match but denied saying it’s too late

dizzy
dizzy

Do they match/upgrade offers? I opened the $300 for $1000 deposit 2 weeks ago, tho haven’t deposited the $1k yet.

Bambino
Bambino

Same question. I opened week and a half ago. Tried SM just now, if that doesn’t work i’m gonna go talk to the banker whom opened my account.

Bambino
Bambino

Update: They applied the new code!

bax
bax

I learned from Chase Escalation department that they let you apply a new promo code within 21 days from the account opening without promo, so I would think you should be able to replace a promo code with a new/better one within that time frame too. In fact, I did get a banker to apply a combo checking+savings $600 promo code weeks after I opened just a savings account with the $200 bonus.

aaaaaaaa
aaaaaaaa

I opened my account today for the $300 offer, and as soon as I got home I saw the $500 offer for the same account. I SMed Chase and they told me to call in to speak to a rep, and the rep was able to change my offer from $300 to $500. They said that you have 21 days from account opening to change the promo offer on the account. Hope that helps

Jack
Jack

Yep. Just asked. I opened my account exactly 22 days ago so I’m out $200. Killer.

Hung
Hung

same I called Chase business customer service twice and none were able to help me as they claimed that they can’t change the promo code once the account been created.

dizzy
dizzy

@Hung Try SM, it worked for me, tho I was within the 21 day period and didn’t already meet the requirements for the other bonus

Hung
Hung

Update: finally got response through SM. They upgraded my offer. Even though it been over 21 days since my account was open (at time I send them SM). They also confirmed I have completed 2 requirements now I only have to leave $2500 for 60 days.
PSA quote from their response:
Let us share that customers are eligible to switch coupons.
If they get better offer, as long as the switch is completed:
– Before the original offer is rewarded, and
– Within the first 21 days of opening the account.

Ramen n Green tea
Ramen n Green tea

Send a SM to see if they match the offer. Do hurt to ask.

dizzy
dizzy

Answer was yes- give them new code, have to have not already met requirements for 1st bonus (yay, procrastination!) and be within 21 days of opening. schweeet

Ktn 💸
Ktn 💸

Can you open online?

Duke I.
Duke I.

No, branch only for business accounts.

Ktn 💸
Ktn 💸

Ahh thanks. I was wondering why it was never put in the title.

Duke I.
Duke I.

It’ll be exactly 2 years since I last open a chase business account. My bank statement shows a $500 debit from chase on October 18, 2017 at the branch. That was the required deposit amount for a $300 bonus I believe. I’ll wait until November 1st to open a new account since Im currently doing 10 checking account deals.

Brian C

If you closed by September 2018 then you are grandfathered in under the old terms

qmc
qmc

No, you’re qualified for the bonus of the new account under the terms of said new account.

Pang
Pang

I dont’ see the 24 months waiting time from the last promo in the details of the terms. is it still the case?? thanks a lot.

qmc
qmc

Highlighted by DoC in this post:

“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.”

It’s in the “*” footnote at the bottom (1, *, **, 2)

Sb
Sb

Can i combine this with and apply for 600 bonus for checking and savings accounts? Or is it one or the other?

Brian C

You can do both. 1 personal and 1 business

Ben
Ben

and one Sapphire checking (which is on the same cycle as YouInvest brokerage, independent from ordinary checking)

Sb
Sb

thank you! So this week will complete my 2 yrs since I last received a chase bonus for my regular checking+savings accounts. So I can go to the bank and sign up for all 3 (savings, checking, total checking) at same time? Or apply for the personal separately online? Reason I am asking is Chase TOS is no bonus in last 2 years, so what it thought was if I sign up for one account, that might make me ineligible for the other one?

Ryan del Mundo
Ryan del Mundo

Damn opened my Chase Biz account Nov 28 2017, and just canceled it maybe 30 days ago. This is showing up 60 days too soon! If we get the code, what does it say about expiration, wonder if I roll in there in 60 days if it’ll work? Merry Bank-mas it would be!

MANUEL HERNANDEZ
MANUEL HERNANDEZ

Just got my code and says it expires 11/21/19

john m
john m

No Stl MO.

qmc
qmc

Damn, I did this 4 months ago, and P2 did it about 2 months ago.

Jefff H
Jefff H

Sitting here waiting for new Chase branch to open 250 miles closer to me. I feel the need for a new and hungry banker.

DD
DD

Chase is hassle-free. They typically don’t quibble around these bonuses. But: you COULD, very rarely, get the *Wrong employee behaving as if it is His money.

Bobby
Bobby

Lol, yes, it’s His money!

tribesman55
tribesman55

I ran into a lot of those at Chase the last couple years, it was pathetic.

lFrost
lFrost

Does transferring money from my personal chase account into this one count as “new money” for the requirements?

Jefff H
Jefff H

Firm NO. Source must be from source not a Chase account.

Hung
Hung

What if I withdraw money from personal checking then deposit cash to business checking?

Brian C

If you do it in cash at the bank as separate transactions you are fine.

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