Posted by William Charles on July 14, 2019
Deals

Published on July 14th, 2019 | by William Charles

3

Chase College Checking $100 Bonus – No Direct Deposit Required

Offer at a glance

  • Maximum bonus amount: $100
  • Availability: Nationwide
  • Direct deposit required: None
  • Additional requirements: See below
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: Can fund up to $50 with a debit card online (prepaids do not work). Cannot fund with debit or credit in branch.
  • Monthly fees: None if in college
  • Early account termination fee: Bonus taken back if closed within six months
  • Household limit: None
  • Expiration date: October 18th, 2019

The Offer

Direct link to offer

  • Chase has sent out offers for a bonus of $100 when you open a new college checking account and complete the following requirements:
    • Enroll in paperless statements
    • Complete 10 qualifying transactions within 60 days of account opening. Qualifying transactions include: debit card purchases, online bill payments, checks paid, Chase QuickDepositSM, Chase QuickPay® with Zelle®, or direct deposits

 

The Fine Print

  • Offer valid until 10/18/2019.
  • Offer not available to existing Chase checking customers, those with fiduciary accounts, or those whose accounts have been closed within 90 days or closed with a negative balance. Employees of JPMorgan Chase Bank, N.A. and its affiliates are not eligible for this offer.
  • To receive the bonus: 1) Open a new Chase College Checking account, which is subject to approval; 2) Log in to chase.com and enroll in Chase Checking Paperless Statements within 60 days of account opening; AND 3) Complete at least 10 qualifying transactions within 60 days of account opening.
  • After you have completed all the above requirements and the 10 qualifying transactions have posted to your account, we’ll deposit the bonus into your new account within 10 business days.
  • Qualifying transactions include: debit card purchases, online bill payments, checks paid, Chase QuickDepositSM, Chase QuickPay® with Zelle®, or direct deposits.
  • Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government
  • . You can receive only one new checking account opening related bonus every two years from the last enrollment date and only one bonus per account.
  • Bonus is considered interest and will 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

There is no monthly fees as long as your college student aged between 17-24

Early Account Termination Fee

Bonus taken back if closed within six months

Our Verdict

Not worth considering because there is an offer for $300 as well. That offer does require a direct deposit, but there are plenty of work arounds that will work. Because of that I won’t be adding this to our list of the best checking bonuses.

Hat tip to reader Calvin

Useful posts regarding bank bonuses:



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Gibunono
Gibunono

Is is possible for college students to double dip? Usually Chase disqualifies you for getting checking bonus of you got one in the past two years. I don’t see them on this one (maybe DoC didn’t copy the full terms?). I understand this one may affect the eligibility of the $300 bonus. But if there is no such language on this one, maybe we can do the $300 fisrt then this one? Last year there is Finn by Chase for $100. Because of this reason, I did not jump on that one.

Also anybody can confirm whether Chase enforces this 2-year rule or not? Before I remember it is 6 months or 12 months? It was not enforced, however. Recently changed to 24 months, the niche still exists?

Beefer
Beefer

“You can receive only one new checking account opening related bonus every two years from the last enrollment date and only one bonus per account.”

AndreRamirez
AndreRamirez

Bummer. Basically pointless to do this one then unless you can’t meet the minimum deposit requirement to avoid fees on the $300 offer.

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