Posted by Chuck on October 3, 2018
Bank Account Bonuses

Published on October 3rd, 2018 | by Chuck

58

Chase Now Offers $50 Referral Bonus for Checking & Savings Accounts

Update 10/03/18: Chase is sending out this offer again. Referrals aren’t a good idea as new users can get up to $600 currently. Do the right thing and tell your friends about the better offer!

The Offer

Direct Link (check if you are eligible to refer at this link)

Chase now offers a $50 referral bonus to banking customers who refer friends for their banking products. The bonus is only available to those who have a debit/ATM card with Chase, and only for referring friends who don’t currently have any checking or savings account with Chase.

  • Get $50 when referring a friend to Chase Total Checking or a new Chase Savings account

The new member will also get a bonus offer when using a referral:

  • $200 if they open a Chase Total Checking
  • $150 if they open a Chase Savings

The Fine Print

The terms for the new member’s bonus are the typical Chase checking and savings terms. You can find them in a previous post. 

Here are the $50 referral terms:

  • Referral bonus is available to eligible personal checking and savings account holders that hold EMV-enabled debit and ATM cards
  • To receive the $50 Refer-a-Friend bonus: 1) Refer your family and friends to open a New Chase Total Checking® and/or New Chase SavingsSM account; 2) Referred candidate must be a new Chase customer and open a Chase Total Checking® and/or Chase SavingsSM account using corresponding coupon; AND 3) After your referred family and friends have opened their Chase Total Checking® or Chase SavingsSM account, we’ll deposit the $50 bonus into your primary checking account within 10 business days
  • You can receive up to 10 referral bonus deposits (totaling $500) each calendar year
  • Bonuses are considered miscellaneous income, and may be reportable to you and the IRS on Form 1099-MISC (or Form 1042-S, if applicable)
  • Refer-a-Friend program is not available for the following customer or account types: Associates of JP Morgan Chase Bank, Legal Entities, Title Companies, Estates or Minor Children
  • By referring friends via email you agree to allow us to send an email on your behalf giving them the opportunity to open a qualifying Chase checking and/or savings account; Your friends’ email addresses will only be used for this offer and will not be used for any other marketing solicitations or sold to third parties; If your friend already has a Chase account, is on our email opt-out list, does not live in an area with access to Chase branches, has already received a coupon code or if the email address you provided is incorrect or no longer valid, your friend may not receive the email; Due to the confidential nature, we cannot disclose any information about qualifying accounts opened by the friends you invite

Our Verdict

Before referring friends to this offer, take note that the signup bonus earned by the new member is less than the top offer we’ve seen many times which is to get $300 for opening a Chase checking account and $200 for the savings.

Still, I can see a few scenarios where this offer can make sense:

  • Apparently, the coupon sent to the new member will work to open the new account online. A lot of people can’t get to a Chase branch or aren’t interested in doing so. They can’t typically get the $500 bonus and have to settle for these lower offers in the $350 range.
  • The Savings bonus only requires a $10,000 deposit versus the standard $200 savings bonus which requires a $15,000 deposit (though we have occasionally seen the $200 bonus with $10,000 deposit).
  • Someone who is doing a $200 Chase Savings bonus can instead have their spouse refer them for the $150 bonus and land up with the same $200 collectively, and even do it online, as noted above. (The $150 will be reported by Chase on a form 1099INT while the $50 might or might not be reported by Chase on a form 1099Misc.)
  • If you are referring someone outside of the hobby and there aren’t any good public offers or you don’t want to explain to them how to do these offers, it might be easier to just send a referral. Right now, for example, there aren’t any public $300 checking or $200 savings bonus offers. While you can buy them on eBay, that’s not for everyone.

Please don’t put your referral here in the comments. I don’t think too many readers will be using these links. More information on Chase credit card referrals can be found here.

Hat tip to mirbachur on r/churning



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Credit
Credit

Should I tweet?

Robert
Robert

Would this offer be good for someone who does not get any direct deposit?

JVP
JVP

Yes, I opened a Robinhood account to make a ¨DD¨.

Raj
Raj

Can Robinhood be opened by non-citizens? What do they ask for when one signs up?

kurtis johnson
kurtis johnson

Robinhood is US only

CryptoChrist
CryptoChrist

You’ll need your social security number.

W
W

Any special steps to make this work?

LC
LC

Wells Fargo works as DD as well

Information Booth
Information Booth

Yep! I used my Wells Fargo Cashwise Visa and it coded as a purchase. Send me your email address and your first name if you want me to refer you. tbear47@msn.com

Information Booth
Information Booth

Oh, wait. I used Wells Fargo checking account not my CC. Sorry for any confusion.

Steven
Steven

Chase Savings is 10k or 15k requirement?

If 10k this is better than the current offer

Jelena
Jelena

It seems according to the terms that even if I have a checking account, I can still get the savings account bonus. Does anyone have experience with this? I’d actually like a savings referral link since I live nowhere near a branch. Not sure if others feel the same way

MoreSun
MoreSun

Happy to oblige. (And you can have both with chase.) Since this is a no referral zone if you send an email to me at gbcr.1n@comcast.net so i can get your address I’ll email you a link.

MoreSun
MoreSun

Never mind- I’m apparently not targeted, can’t generate a link.

Information Booth
Information Booth

I’ve been targeted. My email address is [removed]

Information Booth
Information Booth

You can get a referral from me. Email is [removed] I’ll also need your first name.

MoreSun
MoreSun

Has anyone attempted Ally to trigger the DD req recently? I did a payroll deposit but also deposited money via Ally as a transfer to another bank around the same time and my statement lists total direct deposits as my Ally transfer plus my payroll DD.

Pete
Pete

Ally’s sadly been a no go for years

Information Booth
Information Booth

Wells Fargo worked for me, too. Love in Christ.

Cindy
Cindy

If you refer a friend to open both a checking and a savings account, do you get $100? or only $50?

MoreSun
MoreSun

Well darn, I know a couple people who in-branch opening isn’t an option for them and would be interested but Chase’s website says no offers available for you at this time. C’est la vie!

Information Booth
Information Booth

I was targeted. My e-mail is [removed]

William Charles

IB, this is the third time you’ve posted your link. Just do it once. I’ve removed all your e-mails, please do not repost in this thread.

Theory
Theory

Maybe he loves Christ 3x as much /s

Lc
Lc

I don’t get it.. I have a chase debit card with the chip but I’m not targeted? Wonder if it’s live yet for anyone.

Information Booth
Information Booth

I was targeted. I’d be more than happy to send an email to anyone that would like to participate. Love in Christ.

Bruce robinson
Bruce robinson

Can you send me a referral code?

trifecta guy
trifecta guy

Code generated didn’t work online for me.

Information Booth
Information Booth

Did you receive the code and it didn’t work or are you waiting for the code to be delivered?

trifecta guy
trifecta guy

I got the code but it says I cant use online when i tried

Celia
Celia

I used an online link, not an email, and it loads perfectly. Wonder what went wrong with an email code. I’d be happy to pass it on to you celia1668@gmail.com

Bruce robinson
Bruce robinson

Anybody have a referrsl code?

Information Booth
Information Booth

Sure. My email is listed above, and if you email me, I’ll send you a code and let you know right after I do. Love in Christ.

Cindy
Cindy

How quickly are people receiving these referral codes? I “refered” my husband, but he still hasn’t received the email for the code. it has been 5 days.

(in the FAQ, it does say “How quickly will my friend receive my email?
Your eligible friends and family will receive your email within 7–10 days.”)

Information Booth
Information Booth

When I referred others, the site said that Chase would send a code to people that were eligible for the promo. BTW, I sent a referral code to my mom. She has no prior relationship with Chase and she hasn’t received her code to date. I’ll report back if she does. Love in Christ.

Justin
Justin

Has anyone received a referral email?

Information Booth
Information Booth

Hi everyone! The codes are starting to be emailed. My mom got hers today. My email address is posted above. If you have any questions or want a referral, I’d be happy to help. Love in Christ.

Raj
Raj

If the checking and savings accounts are opened at different times, does the referrer get the $50 bonus twice? How does Chase know/enforce the “Checking and/or Savings” condition?

ryan reilly
ryan reilly

just do it online and not in the branch,they act retarded and claim to know nothing about the promotion and ask you to bring in a written offer,butwhen you bring that paperwork in,they tell you it must be done at opening,they completely lie and deceive just to get you to open an account.the sad part is that the person who referred you iis out their 50$too.pathetic at the least.just open a credit union account where you actually get paid to keep your money with them.dont be fooled by these crooks….

Frank
Frank

Lol I don’t think anyone here is opening a Chase account to use as a real bank account. Only worth the bonuses, actual account is fee heavy for no benefit

Celia
Celia

I don’t what branch you go to, I’ve had no issues with Chase and bonuses, bank or credit card. The branch people have been great in the branches around m, both on the business and personal side.

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