Posted by William Charles on March 31, 2019
Brokerage Bonuses

Published on March 31st, 2019 | by William Charles

36

Chase You Invest Bonus $200-$625 Bonus With $25,000-$250,000 Investment Account

The Offer

Direct link to offer

  • Chase is offering a bonus on their You Invest investment product. This product offers free trades to some customers in addition to other benefits. The current sign up bonus is tiered and varies based on how much you fund the account with:
    • Fund $25,000-$99,999 and get a bonus of $200
    • Fund $100,000-$249,999 and get a bonus of $300
    • Fund $250,00+ and get a bonus of $625
  • Account must be funded within 45 days and must be maintained for 90 days

The Fine Print

  • Cash promotion is limited to one per customer and can only be applied to one new You Invest Trade account (Brokerage, Traditional IRA, or Roth IRA). To enroll in the up to $625 offer, you must open an account through this page.
  • Customers must open and fund a new You Invest Trade account with new money of $25,000 or more in cash or securities from a non-Chase or non-J.P. Morgan account and cannot be funds or securities held by Chase or its affiliates. New money must be transferred within 45 days of account opening.
  • At day 45, the bonus tier will be determined
  • Cash bonus will be credited to the account within 10 business days of these requirements being met.
  • You can participate in only one You Invest, Chase Private Client Checking, or Sapphire Checking new money bonus in a 12 month period.
  • The new money balance must be maintained in the account for at least 90 days from the date of funding (losses due to trading or market fluctuation will not be taken into account).

Our Verdict

Previously only the lowest tier bonus has been offered. Keep in mind you can do this bonus and still do a Chase checking & Savings bonus as well, but doing this bonus prevents you from doing the Chase Private Client or Sapphire Checking bonus. If considering this bonus you have several options:

  • You can just fund the account with $25,000-$250,000 and leave the funds in there without investing them for 90 days. For most people this won’t be worth doing.
  • A better option would to put the funds into a money market fund such as VMMXX or VUSXX. These have been yielding 2%+ returns and are considered very safe, but they don’t have FDIC insurance like a traditional high yield savings account.
  • You can invest funds as you normally would.
  • Reader Ben points out that the Sapphire Banking offer does not allow IRA funds to count to the funding amount while this You Invest offer does allow that. So if you don’t have non-IRA funds to move over and thus can’t get the Sapphire bonus, this You Invest bonus can really be cost free by simply transferring over IRA funds (I’ve never actually transferred an IRA, personally, but I assume it’s not difficult). Another reader points out that there are often fees for transferring an IRA, check with your original institution and with Chase to find out if there are fees to transfer in or out.

Interesting to see Chase add higher tier bonuses. We really need to create a dedicated page to these brokerage bonuses, but for now you can view other options here.

Hat tip to reader Bobby D

 



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ken
ken

are they bullsh*t me? i opened a YouInvest account like half a year ago. i deposited over 2000$, they said they dont offer margin account?

Steve

They don’t offer margin, nor a bunch of other things, like options or extended hours trading. Though, maybe they’ll add more features eventually; it’s still a relatively new service.

Another annoying thing: for many ETFs, they default to average cost basis (which might reduce your ability to do tax loss harvesting). You can write a letter to them, sign it, send it in a message online, to request that they change it to original cost.
Their customer service people are kinda clueless, so it might take several messages to get the right response.

Tom
Tom

Can anyone clarify the following statement: “(losses due to trading or market fluctuation will not be taken into account).”

So does that mean if I buy stocks with my $25,000 and the current market value drops below the $25,000 minimum balance requirement, that I will be disqualified, or they are not counting unrealized losses? The wording seems a bit ambiguous to me… don’t want to miss out on the bonus due to a stupid ambiguous phrase like this… Thanks to anyone that can clarify.

Steve

You won’t be disqualified in that case.

Ann
Ann

They mean that as long as you just *lost* money within the account, but didn’t *withdraw* money that took you below the minimum, you get the bonus.

proteus
proteus

Do they charge fees when you close the account?

Lrdx
Lrdx

There is a $75 fee for transferring securities out. I don’t see any account closure fee in their fee schedule.

Debit
Debit

Does anyone know how to get morgan stanley self directed accounts? I would like to qualify for their platinum but do not want to pay them management fees.

Anyway to do this?

Ann
Ann

Doubtful with Morgan Stanley. They are a “full-service” high-fee brokerage.

BoA is a more popular route for this kind of thing. They specifically set up Merrill Edge as the low-cost self-directed alternative to Merrill Lynch, and it counts towards your status.

Ann
Ann

Chase YouInvest can also be used to buy treasuries and brokered CDs: https://www.bogleheads.org/forum/viewtopic.php?t=262578&start=50#p4230386

Superman
Superman

Yields from VMMXX and VUSXX are reported as dividends instead of as 1099-B transactions, correct?

qmc
qmc

money market, I believe to be non-qualified dividends/interest income 1099-div/int

K
K

Why would anyone do this?

$250,000 in most online banks like Ally or Marcus will almost get you $500 in interest in just one month.

Why would you prefer zero flexibility when you can either keep the money in a savings account and get that free money in a little over a month or just invest how and how much you want with ETrade or Fidelity?

Mihir
Mihir

If you have investments that you don’t want to change, it doesn’t matter who is holding it. You can transfer in and out and grab extra money while earning (or loosing) same as you would with current brokerage firm.

5150d
5150d

VUSXX pays 2.38% state tax free and in CA that is equivalent to 2.61%. It is safer than FDIC bank account as it holds only US Treasury bills.

Nick B
Nick B

You can invest that money earning market returns AND you can get the bonus. It’s still not a very good offer though.

qmc
qmc

Yep, Sapphire banking bonus is mutually exclusive with this one. If you have $75k, which you can sign up for sapphire banking, stash it in youinvest for 60k UR instead of this $250.

Mike
Mike

Sapphire is the bonus I went for, and using vanguard money markets is basically as safe as a bank money market. $750 bonus (no card for me, so cash instead) is like a 1% add-on to their current rates, so more or less 3.5% if held for an entire year and rates hold up. And no regular bank savings/mm accounts are paying nearly that much.

Nick B
Nick B

There are a lot better brokerage bonuses out there. Should be able to get $1k for $200k invested or $500 for 100k with Schwab, TD Ameritrade, Merrill Edge, etc.

SMan
SMan

$500 for 100k with Schwab. Can you please share this link.

Nick B
Nick B

https://www.schwab.com/public/schwab/nn/promo/new_assets_client_award_sps.html

Also of note that most of these brokerages will match other offers.

SMan
SMan

Thanks Nick

Steve

Note that the Schwab offer you linked is for “Stock Plan Services participants only”, which I think means for companies that offer stock plans to their employees. But I’ve heard that Schwab can match other offers, so maybe other people can get this offer, it just would take a little more effort.

5150d
5150d

So I opened the YouInvest account 30 days ago using the DOC link for the $200 with $25k bonus link. Will I get the higher bonus if I have added more or is this a special link?

YMMV
YMMV

Depending on how much you are planning on transferring in you could drop in to see a banker and see if they will change it for you. If you can get to the 250K for CPC, they will probably do it.

Ed
Ed

I have a Chase checking account, and I keep a large enough balance to pay all my monthly bills without fear of being overdrawn. But it bothers me that the interest rate on this account is peanuts. So I thought: what if I open a YouInvest account, link things up so that I can quickly and easily transfer funds to/from Chase checking, but earn more interest in the YouInvest account with a money market fund. I’d get the new account bonus and I’d get more interest.

So I phoned the YouInvest 800 number. According to the phone rep, the money market sweep fund that you can have in a YouInvest account is QACDS. Look up that fund and you will see that it currently pays .03%

According to the phone rep, in order to have a different money fund as your sweep fund in the YouInvest account, you would need to have a Chase brokerage account with an advisor. And that means advisor fees.

So as usual, thanks a lot, Chase.

All
All

just open an Ally account, get the 2.2%; because they are both zelle the back and forth is 1 business day, 2 tops.

Mocha
Mocha

Can’t you put your You Invest money in a Vanguard MM and then transfer that to regular Chase account as needed?

qmc
qmc

Yes, though it may not be as instant as going from chase savings to chase checking.

Roy
Roy

With a Fidelity money management account you can obtain 2.7% with SPRXX holding the cash and it is automatically transfer to core to pay checks.

Jeremy
Jeremy

SPRXX is yielding 2.25% and it’s fully taxable.

Nick
Nick

Any deposit account interest that is not “fully taxable”?

Or for that matter, is there any investment account that is both not “fully taxable” and allows free transfers “as instant as going from chase savings to chase checking”?

Dan
Dan

You can manually buy VMMXX, set it to reinvest dividends and you would never have any cash to sweep into their shitty QACDS

5150d
5150d

Received my $200 on time as expected.

Dr Jello
Dr Jello

I have read their fee schedule over and over and cannot seem to figure out: if you buy a no load mutual fund ie. Vanguard are there any transaction fees from Chase?

Chris
Chris

do you have to actually invest or can it just sit there?

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