Update 10/4/20: Deal is back until January 21, 2021. Not as good as the recent $1,000 deal. Seems to only be for new customers, not upgrades. Looks like it also counts towards your one checking bonus per two years. Hat tip to Shirley
Offer at a glance
- Maximum bonus amount: $750
- Availability: Nationwide
- Direct deposit required: None
- Additional requirements: Deposit $75,000 and maintain that for 90 days
- Hard/soft pull: Soft
- ChexSystems: No
- Credit card funding: Cannot fund with debit or credit in branch.
- Monthly fees: $25, avoidable
- Early account termination fee: Bonus taken back if closed within six months
- Household limit: None listed
- Expiration date:
January 11th, 2019 June 15th, 2019 September 28th, 2019January 21, 2021
Contents
The Offer
- Chase is offering existing deposit account holders $750 when they upgrade to a Chase Sapphire Banking account and complete the following requirements:
- Within 45 calendar days transfer a total of $75,000 or more qualifying new money or securities to a combination of eligible checking, savings and/or investment accounts, and maintain that balance for at least 90 days (irrespective of any losses or gains due to trading or market fluctuation)
The Fine Print
- Offer not available to existing Chase Sapphire Banking and Chase Private Client customers.
- To receive the $750 bonus: 1) Meet with a banker to upgrade your existing account to a Chase Sapphire℠ Checking account 2) Within 45 calendar days, transfer a total of $75,000 or more in qualifying new money or securities to a combination of eligible checking, savings and/or J.P. Morgan investment accounts (excluding insurance products; fixed and variable annuities; 529 College Savings Plans; any retirement accounts including but not limited to Traditional and Roth IRAs, Keogh, Simple IRAs, and 401(k) Plans). The qualifying new money cannot be funds or securities held by Chase or its affiliates. AND 3) Maintain at least a $75,000 balance for 90 days from the date of funding, irrespective of any losses or gains due to trading or market fluctuation. After you have completed all the above requirements, we’ll deposit the bonus in your new account within 10 business days.
- The Annual Percentage Yield (APY), for Chase Sapphire Checking effective as of 9/14/18 is 0.01% for all balances in all states.
- Interest rates are variable and subject to change. Additionally, fees may reduce earnings on the account.
- You can only participate in one Sapphire Checking, Chase Private Client Checking or You Invest new money bonus in a 12 month period.
- Coupon is good for one time use.
- Bonus is considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).
Avoiding Fees
Monthly Fees
Sapphire Banking has a monthly fee of $25. To avoid this you need to keep $75,000 in the accounts
Early Account Termination Fee
Normally Chase claws back the bonus if the account is closed within six months. Isn’t clear if that’s the case here or not.
Transfer Out Fee
$75 Applies when any securities are transferred out of the account
Our Verdict
Chase Freedom/Sapphire cardholders can receive 60,000 Chase UR points for the same requirements. If you value Chase UR points at 1.25¢ or more then you’re better off with that offer (if eligible) otherwise this offer is better, although this offer is not public. Keep in mind getting this bonus can only be done once per 12 month period, you can do a Chase checking/savings bonus every 24 months and they are on different clocks (e.g doing this bonus doesn’t make you ineligible for the Chase checking/savings bonus). I won’t be adding this to the best bank account bonuses because I think the public 60,000 point offer is better for most people.
Hat tip to reader David C
Post history:
- Update 8/8/19: Deal has been extended until September 28th, 2019. Hat tip to reader Martin
- Update 6/19/19: Deal has been extended until August 6th.
- Update 4/20/19: This is now available as a public upgrade or new account offer. Keep in mind there is also an offer for 60,000 points. Hat tip to reader Nick
- Update: That didn’t last long, that public link now reverts to the 60,000 point offer.
- Update 10/24/18: Reposting as there is now a direct link, so no longer targeted. This is still an upgrade offer, if anybody finds a link for new accounts as well let us know. Thanks to reader Bildge for sharing the current direct link.
