Posted by William Charles on January 14, 2016
Bank Account Bonuses

Published on January 14th, 2016 | by William Charles

289

Chase Checking ($300) & Savings ($200 Bonus) – Available Nationwide (Mostly)

  • Maximum bonus amount: $500
  • Availability: Nationwide (must open account in branch)
  • Direct deposit required: Yes, no minimum. Click here to view what triggers this bonus
  • Additional requirements: None
  • 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

Offer requires a purchase of coupon on eBay, most seem to be going for $5-$10

  • Receive a bonus of $300 when you open a Chase total checking account and set up a direct deposit.
  • Receive a bonus of $200 when you open a Chase savings account and deposit $15,000 or more in new money within 10 days and maintain a balance of $15,000 for 90 days.

chase $500 bonus

The Fine Print

  • Offer not available to existing Chase checking customers, or those who have had accounts closed in the last 90 days (or with a negative balance)
  • Direct deposit must be received within 60 days of account opening
  • “Direct deposit must be paycheck, pension or government benefits (such as Social Security) from your employer or the government”
  • Must open account in branch
  • Bonuses will appear within 10 days of meeting the requirements (batch processed on a Tuesday)
  • Interest rate on the Chase savings account is 0.01%
  • You can only receive one Chase checking & savings account per calendar year and only one bonus per account

Avoiding Fees

Savings Account

The Chase Savings Account comes with a monthly service fee of $4 in most states and $5 in CA, FL, GA, ID, NV, OR and WA. Monthly fee is waived with any of the following:

  • Keep a minimum daily balance of $300 or more.
  • Have at least one repeating automatic transfer from your Chase checking account of $25 or more. One time transfers do not qualify.
  • Have a linked Chase Premier Plus Checking, Chase Premier Platinum Checking, or Chase Private Client Checking account.

Checking Account

The Chase Total Checking account comes with a monthly service fee of $10-$12 which is waived if complete any of the following:

  • Have monthly direct deposits totaling $500 or more
  • Keep a minimum daily balance of $1,500 or more
  • Keep an average daily balance of $5,000 or more in any combination of qualifying Chase checking, savings and other balances

Early Account Termination Fee

If you close either account within 6 months of account opening, you will forfeit the bonus.

Our Verdict

This bonus usually becomes public once or twice a year, the reason I’m posting and why it might be worth paying the $5 fee for a coupon is the fact that this bonus is churnable, with two rules:

  • Cannot receive the bonus if you have an open account or have closed it in the last 90 days
  • Can only receive one bonus (checking & savings account) per calendar year

Because it’s a new calendar year, I suspect a lot of people will be eligible for this bonus again (especially since the last public bonus was in June of last year). I personally just suck up the $5-$10 fee of buying a coupon so I can get this bonus done early each year (in case they change the terms), the main downside to this is you need to go in branch and the bankers can see your history of opening and closing. I’ve never had a problem with this personally (presumably because it helps to pad that bankers numbers).

Because of how cheap these coupons currently are and how easy it is to complete this deal, we’ve added it to our list of the best bank account bonuses. It can also be found in our complete list of all deposit account bonuses.



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does Chase or any of the major banks ever have bonuses for opening up Business Checking & Savings accts?

I dont think I’ve ever see you post about that. I think that might be more feasible in terms of churning. I really dont wanna close my long time primary accts w/big banks just to get a bonus again.

so yeah whats the scope on Business deposit accts? appreciate if you could look into it and possibly find juicy offers like this for the personal accts.

I think they just posted about a big one from US Bank not too long ago

Some may like this data point: Military and veterans have fees waived and do not have to hold a minimum balance for the Preferred Checking Account (I’m not sure if this is true for the savings account).

I recently opened PCA account (2 days ago) which took about 45 minutes.

I have also opened two other accounts last week and decided to omit them when asked to list the bank accounts I have. It did not seem to matter much.

Thanks for the tip, Kody about the military and veterans. It certainly would make the checking trouble free and fee free since I was thinking about making them my main checking account.
Wish it was only 10K for the savings account:)

I love that there isn’t a Citibank branch or a Chase branch within 250 miles of where I live.

If you have an existing Savings account but close out the checking, will you still be eligible for the Checking bonus provided the other requirements are met? Chase has doesn’t restrict ACH links so thinking about keeping one account open.

You can only receive one Chase checking & savings account per calendar year and only one bonus per account

Does currently having citigold account and receiving Citigold TYP bonus in 2016, affect any of the terms for this account or they are two different animals?

Can you have a current open checking account but apply for the savings account and get the bonus?

William,

Do you think it’s worth it to churn the checking/saving account bonuses with Chase, considering you want to have a good banking relationship with them because of all their products?

My SO did it 3 times and they closed her account, and probably also said something like she can’t open an account with them in the future.

Cowboy guy 1 did they close all accounts with them or just checking/savings? Thx

How do you know the reason for the closure? Did they specifically say it was for churning bank account bonuses? Because if not there could be many other reasons for the closure related to credit cards etc.

Two questions: (1) When is the deadline to use the coupons? (2) Any data points on how long you need to wait to churn to avoid being blacklisted (i.e. forbidden to open accounts again with Chase)? I closed my accounts with them pretty much exactly 90 days ago; is it better to wait a while longer?

co-ask

I live in MD, where there are no Chase branches, but frequently travel to California, where they have plenty. Can I open an account in California, even if my mailing address is in Maryland?

They don’t care what your mailing address is. Mine is in Hawaii, I’m just temporarily in CA. I opened both a checking and savings account for these bonuses.

Thinking about picking this up, thanks for posting about this. I wasn’t expecting to see an offer right out of the gates but I believe I’m technically out of the woods (closed 10/8/15) and I’m wanting to try for the INK Plus CC (either through upgrading INK Cash or applying). I’d have to imagine having an account would benefit my relationship with Chase. I may even keep the account going forward, although that’ll depend on whether or not ACH is accepted as DD going forward to avoid fees.

Posted my coupon to eBay for $4.00 if anyone is interested. Titled “Chase $500 Bank Bonus Promo Coupon exp 2/29/16”

I bought it. 🙂

What happens to the direct deposit if you are self employed?

Received a targeted mail offer from them ending March 3, 2016, probably because I opened a Chase Freedom card last year.

My offer from Chase is only $200 for opening the checking or savings. There is a bonus $100 if I do both, so I can still get the full $500

Lorenzo Yniguez

So i currently have a Chase checking account. I am recently married and my wife and I are looking into opening a joint account. Would we be eligible for this bonus or would we be disqualified because I already have a chase checking account?

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