How to Earn Bonuses and Qualify for Promotions with Chase Bank Accounts:
Forget about t-shirts, caps, and toasters. Banks are now fighting tooth and nail for your business. Chase bank is one of the most generous banks offering hundreds of dollars in bonuses and promotions, and all you need to do is open an account with them. In this blogpost review, I am looking at this incredible…
Forget about t-shirts, caps, and toasters. Banks are now fighting tooth and nail for your business. Chase bank is one of the most generous banks offering hundreds of dollars in bonuses and promotions, and all you need to do is open an account with them.
In this blogpost review, I am looking at this incredible bank and giving you tips on how to make free money. I shall enlighten you on how you can earn reasonable amounts of cash by merely opening an account with them.
What are bank bonuses and promotions?
These are gifts that they give to their customers or incentives given to entice outsiders to open accounts with them.
Most people are well aware of the cash backs and rewards associated with credit cards, but they are unaware that banks offer an even better way to earn free cash. Bank bonuses enable you to make hundreds of bucks by merely opening a new account and meeting their simple requirements.
The best part of all this is that the money you shall earn is free, with no strings attached. – Well, you will have to open the account, but that is all.
How do bank bonuses work?
They vary from one institution to another:
Depending on the bank you choose, different banks will offer different bonuses when you open an account, or when you deposit cash with them. In most cases, you may be required to deposit anywhere between $500-$5,000 dollars and ensure that you keep the money in the account for a specific period.
You can earn bonuses anywhere from $50 to $500.
They are available on both checking and saving accounts:
These two accounts are synonymous with bonuses and promo codes. This means that if you have opened either a checking or a saving account, you might be eligible for a bonus on your account. Some people with both can earn double on both accounts.
Each institution will have different requirements for you to qualify for a bonus or a promo code. You will be required to satisfy these requirements before you can earn a bonus. Some will require a direct deposit of a specific amount, or for the account to have attained a specific number of transactions or to have been in operation for a certain number of months.
You may have to pay taxes on the bonuses.
Since bank bonuses are taxable income, you should expect a 1099-MISC tax in the form of mail, which you must pay.
Must know points about the Chase Bank Bonuses and Promo codes:
In case you are reading this and aren’t a chase bank customer already, the bonuses I shall be talking about might just be the jolt you need to join this bank because most of them are for new and existing customers.
However, it is still essential for you to know how these offers work inside and out – and how to maximize them.
Here are some tips that can help:
Combining the offers
Figure 1 snapshot from Chase company website
As seen above, most of their offers usually target new customers, but this doesn’t mean that an existing client cannot earn more than one bonus.
If you already have an account, you can open a new Chase Total Checking and Chase Savings account, for example, you can earn $250 in bank bonuses with just one trip to your local branch.
You can also choose to combine the savings and the premier accounts to earn more bonuses. But before that, make sure that you have met all of the requirements.
Keep yourself well informed about the offers and follow-through:
You must ensure that you are always on the lookout for any new promo codes, bonuses, and offers, and also ensure that you follow all the rules to earn the bonuses.
Many Chase coupon codes are periodically available. Current and past coupons include the following: $100, $150, $175, $200, $250, $300, $350, $400, $500, $600 and $800 offers.
Chase promotions are regularly updated throughout the year, so, ensure to bookmark this page if you do not want to be left out.
If you do not follow the rules, you risk losing out on the bank bonuses altogether and even having them clawed back somewhere down the line.
A good example is the Chase Premier Plus Checking account, which you earn a $300 bonus after setting it up and ensuring you make a direct deposit within the first 60 days. With this account, the fine print stipulates that the account must remain open for a full six months, or they will end up deducting the bonus amount at closing.
If you do not read these requirements clearly and pay close attention to the little details, it can cost you a great deal.
Find out how you can avoid fees:
When you start paying close attention to the fine print on some of the offers, you are bound to notice that each of the accounts has monthly maintenance fees. This is never good news, and most people tend to avoid such accounts, as they can end up depleting your savings.
The good news is that this is avoidable. The fees charged for account maintenance can be avoided simply by meeting specific requirements that have been set by the bank, which would include keeping a specific minimum balance in the account in the form of deposit.
The above Chase Total Checking Account clearly shows you a tab that you can click to learn what you need to do if you want to avoid the $12 monthly fee.
You can do one of two things; – Either ensure to have monthly direct deposits that total $500 or more, or you can maintain an average daily balance of at least $5,000 across all of your chase accounts.
You must pay taxes on the bonuses you earn:
It is true that when you sign up for credit card bonuses, you are not required to pay any taxes, but unfortunately the bonuses you earn in a bank are taxable, and hence you must pay the tax on them; otherwise, the IRS will be on your neck.
What happens is that; when the bonus money is deposited in your account, Chase Bank will go a step further and send you the 1099-INT tax form that you are required to fill in and submit for the government to receive the tax on the bonus you earned.
Of course, the more the bonuses, the higher the tax payment. Once you receive the form, you should claim the bonus as a taxable income as well.
You must open your new Chase account either in-person or Online:
Previously, there was only one option of qualifying for bonuses with Chase bank, and that was through opening the account in-person, but now they have made it easy for you to open an account online.
If you are looking for opportunities for earning bonuses, then you can simply visit a branch in-person, or set up an account in the comfort of your own home, but logging into their online portal. This takes just a few minutes to achieve.
If you don’t have one in your hometown, your only option may be the online version. But, heck, for $250 in bonuses, it might be worth driving up to an hour away if you wanted to speak to someone in-person first.
Why should everyone sign up for a Chase Bank Account?
Sign up bonuses aside; Chase Bank offers a slew of many perks for people who require top-notch banking and everything “extra” they have in store for you. There is a reason why this bank has such an excellent reputation within the banking industry.
They are good at what they do, and they pay you bonuses, solely for opening an account with them. Here are a few more reasons why you should consider joining this bank;
Their customer service is what we would call world-class.
If you have ever called a bank with an issue and had to suffer a customer rep who could care less about your troubles, then, you will appreciate what Chase Bank has to offer. They will listen to you carefully and help solve your problems the best way they can.
They have well-trained customer care staff who are always willing and ready to lend a helping hand.
When you call Chase, you’re connected with a professional banker who can help with your issue.
You shall also not be re-routed to someone in India or any other country, and in fact, you will always receive help from someone who is in the same geographical location as you are, as the bank has very many branches.
Their customer service is open 24hrs each day, and you will always be connected immediately — no need to wait.
This cannot be beaten. In case you have been wondering how to keep track of your bills, then you shall love this because it enables you to do so online.
All you need to do is sign up, and connect your Chase accounts to the system; you shall then be able to monitor your bills and keep track of when you need to pay them. This also helps in monitoring your monthly spending.
If you happen to have Chase credit cards, you can pay for them online using a direct transfer from your Chase checking or savings accounts as well. In addition, you can also log into your Chase account to see how much you have spent on your credit card at any given time.
Bank deposits are easy:
It doesn’t matter whether you live near a branch or not if you do not have time to visit the branch you are covered because Chase offers the QuickDeposit feather which allows you to deposit a check by only taking a picture of it using your mobile device and downloading it on their app.
The deposit process is similar to what happens if you had physically visited the bank. You can access the money the next day.
They have branches everywhere:
Well, this will definitely make a new customer happy. You do not need to travel miles and miles looking for the nearest chase bank branch because the chances are that; there is one right around the corner from you.
There are times when you would rather visit the physical bank, and Chase makes this especially easy for you. It is perfect, regardless of where you live.
They have more than 5,300 branches nationwide, and they have more than 15,000 ATM’s, for when you need to access quick cash.
Excellent Account alerts and notifications:
If you are a customer with Chase bank, you can attest to this. If you want to always stay on top of your spending habits, chase bank has the best alerts and notifications system that can seriously help you when trying to stick to a budget.
With this incredible feature, you can always keep track of your bank balance and be on the lookout in case the balance drops to a certain amount, or in case the account is overdrawn for whatever reason.
You will also be notified of any significant transactions that come through your account, or better still, set up all parameters of notifications so they can be tailored to your specific requirements.
Chase Bank Promotions and Bonuses:
Earning a bonus of $150
To qualify for this bonus, you must open a Chase Savings Account online by following the coupon that shall be emailed to you through their promotions page.
- This account must then be funded with at least $10,000 of new money within 20 business days of opening the account. Maintain this balance for 90 days, and you should also leave the account open for the next six months.
- If you close this account within the six months, they shall take back the bonus money.
Other requirements that must be met
- Pay a monthly fee of $5, which you can avoid if you do the following;
- You must maintain a minimum daily balance of $300 or more.
- Have a repeat transfer of $25 or more that is automatic.
- You must link your Chase Premier Plus Checking Account or a Chase Platinum Premier Account.
- Once you have met all of the above requirements, the bonus shall be deposited in your account within ten business days. This shall be reported as interest.
The offer is available nationwide except in Hawaii, Puerto Rico, and Alaska.
Chase Total Business Checking – $200 bonus
How to get it:
- You shall be required to open a new Chase Total Checking account.
- Set it up to receive a direct deposit within the next 60 days. This needs to be an electronic deposit from your paycheck, pension, or government benefits.
- Deposit $1,000 in new money within 20 business days.
- Ensure to maintain this balance for the next 60 days.
- Complete five qualifying transactions with the debit card in the 60 days, this includes; debit card purchases, ACH (credits), Chase Quick Deposits, and any wires (credits and debits)
- Do not close this account for the next six months. If you do, they shall take back all of the bonus money in it.
- A monthly service fee of $12 unless you do the following;
- Ensure a monthly direct deposit of $500 or more into the account.
- Keep a minimum daily balance of at least $1,500 or more in the checking account.
- Keep an average daily balance of $5,000 or more in any combination of the qualifying Chase accounts either the Checking or Saving.
- Once all of the requirements have been met, you shall receive the bonus within ten business days. This bonus shall be reported as interest.
Chase Premier Plus Checking – $300 Bonus
How to get it:
This offer is for new customers, who open a Chase Premier Plus Checking Account. You should receive a coupon via email, which you shall bring to the Chase Branch for you to qualify for the bonus.
You must then have a direct deposit made to the account within the next 60 days. The account doesn’t have a minimum direct deposit amount.
Do not close the account in the next six months, and if you do, you shall lose the bonus that you will have earned.
Other Account features:
The account earns interest.
- If you maintain an average of $15,000 in the account, you shall waive the monthly service fee of $15.
- There are no fees charged on the first four non-Chase ATM transactions within the specified period.
- The account can be applied online in a matter of minutes.
- You gain access to the 16,000 Chase ATMs and more than 5,000 Chase Bank branches nationwide.
The offer is available nationwide except in Puerto Rico, Hawaii, and Alaska.
Once you meet all of the requirements, you shall receive the bonus in your account within ten business days.
$350 Bonus for new Checking and Savings Accounts
How to get it:
For you to earn this bonus, you must open both accounts; a savings and a checking account. It is split into 2, so, here is how you can earn both;
$200 bonus from the Chase Total Checking account:
Open the account online and ensure to use the referral link to receive a personalized Chase coupon for the bank visit.
Create a direct deposit for the account in the next 60 days. The account doesn’t have a minimum deposit amount.
Once you meet these and other requirements, you shall receive the bonus in your account within ten business working days.
$150 bonus from the Chase Savings Account:
- Open the account online and deposit $10,000 or more in new money within the next 20 business days. You can use the offer link to receive a personalized coupon for an in-branch visit.
- Maintain the above balance of $10,000 for the next 90 days from the deposit date to get your bonus.
- The new money CANNOT be funds that are held by Chase or any of its affiliates.
- Once you meet all of the requirements, you shall receive the bonus within ten business days.
Other points to note:
- If either Chase bank or you close the accounts within the next six months, you shall lose all the bonuses in the accounts.
- These accounts will give you access to the 16,000 Chase bank ATMs nationwide, and the over 5,000 branches.
- You can choose to use the mobile app to manage your account, transfer funds, and deposit checks.
How can you waive the monthly fees?
$12 Chase total Checking Account: You can do any of the following to waive this fee;
Option 1: Ensure to have monthly deposits that total $500 or more into the account.
Option 2: Keep a minimum daily balance of $1,500 or more.
Option 3: keep a daily balance of $5,000 in any combination of qualifying Chase bank accounts.
$5 Chase Savings Account: You can do any of the following to waive this fee;
Option 1: Keep a daily balance of $300 or more in the savings account.
Option 2: You must ensure to have an automatic repeat transfer of at least $25.
Option 3: Have a linked Chase Premier Plus checking.
$625 bonus when you invest in J.P. Morgan – You Invest account
How to get:
You must open and fund a new You Invest account. The bonuses are earned based on the amount you deposit:
Here is the breakdown;
- Any deposit between $25,000 – $99,999 you shall get $200.
- Any deposit between $100,000 – $249,999 you shall get $300.
- Any deposit that is above $250,000 you shall get a bonus of $625.
You can also opt to open a brokerage – individual or jointly taxable, or a traditional IRA or even a Roth IRA and make a deposit. This will enable you to earn a bonus on the 45th day. Maintain funds in the account for the next 90 days, and you will receive a bonus in 10 business days.
The account doesn’t have a monthly service fee.
All customers will get 100 commission-free online trades in the first year, but if you are a Chase Premier Plus or Total Checking customer, you get 100 commission-free online trades every year.
$750 Chase Sapphire Checking Bonus
How to get the bonus:
- Open a Chase Sapphire Checking account, either by meeting with a banker at the branch or online.
- Within 45 days of opening the account, transfer a total of $75,000 of new Chase money or securities to a combination of eligible savings, checking or investment accounts, and maintain this balance for at least 90 days.
- Within ten days of depositing the funds, they shall add a bonus of $750 into your Chase Sapphire Checking account.
The checking account has no minimum balance to open and a $25 monthly service fee. The monthly fee is waived if you maintain an average beginning day balance of $75,000+.
Available online nationwide except in Alaska, Hawaii, and Puerto Rico.
$1,250 bonus for Chase Private Client
How to get:
Becoming a private client means that you have achieved a superior Chase Bank Status, and this comes with many perks that include; having a private banker, no fees on most of your ‘everyday transactions’ such as wire transfers and international debit card purchases.
- You shall enter your email address on the offer page to receive your Upgrade Code.
- Meet with a Private Client Banker who shall upgrade your account to a Chase Private Client.
- Get to enjoy a bonus of $1,250 when you join the Chase Private client membership.
- In the next 45 days of opening the account, transfer $250,000 or more of new qualifying money or securities to a combination of Chase accounts either the checking, savings or even an investment account and maintain this balance for the next 90 days.
- Receive the bonus within ten business days of meeting all of the requirements. The money shall be deposited directly into your account.
This offer is available to existing Chase customers only.
Other benefits of this membership;
- Experience a personalized banking experience.
- Enjoy a team that is dedicated to you 100%.
- Bank with few to no fees at all.
Two other Bonuses and Promotions from Chase Bank
College Checking account $100 bonus
How to get the bonus:
- You need to open a Chase College checking account, online or in a branch, and use your personalized coupon from the offer page. The minimum opening balance is $25.
- Enroll in their paperless statement and complete ten qualifying transactions within the first 60 days of opening the account.
- Qualifying transactions are; debit and card purchases, check payments, Chase QuickDeposit, Chase Quick Pay, etc.
- The direct deposit must be an electronic deposit from your paycheck, government benefits, or pension, from your employer or the government.
After fulfilling all of the above requirements, you shall receive the bonus amount in your account within ten business days.
Monthly fee: The account doesn’t have any monthly fees for the first five years if you are a student aged between 17-24 years.
$50 bonus for referral, up to $500 a year
This is one of the simplest and easiest ways of making some bonus cash with Chase bank if you are currently a Chase Bank customer.
How to get:
- Once you are already a Chase bank account holder, enter your last name, zip code and the last four digits of your credit card.
- Use the referral forms to make referrals through Facebook, emails, and other social media platforms.
- The referral must open a new Chase bank account, either a checking or a saving account.
- You shall receive $50 for each person you refer, who opens any of the qualifying accounts. – There are up to 10 bonuses per year.
How can you get the promotional Chase Coupons?
To get any of the above deals, you will need to visit the website and request for “a Chase Coupon.”
They will send the coupon to your email, and once you receive it, print it out and take it to the branch to open an account. You can also bring this email on our phone, so they can enter the coupon code as they open the account.
This is because it is a long string of letters and numbers.
If you do not go to the bank with the coupon code, you may not get the offer.
Who Is Not Eligible for Chase Bonuses?
There are rules regarding who is eligible for these offers – for each of the checking and savings offers; you cannot get the bonus if you’re an existing Chase customer for that product. So if you have an existing Chase checking account, you cannot get the bonus for the checking offer. If you have an existing Chase savings account, you cannot get the Chase savings account offer.
Also, you can only get one new checking and one new savings account bonus every two years based on the enrollment date.
Summary of the offers and associated links:
|Chase Premier Plus Checking||$300 Cash|
|Chase Total Checking + Chase Savings||$350 Cash|
|Chase Total Business Checking||$200 Cash|
|Chase Sapphire Checking||$750 Cash|
|Chase Private Client||$1,250 Cash|
|You Invest by J.P. Morgan||$625 Cash|
|Chase College Checking||$100 Cash|
If you have been debating between a Chase account and one of its competitors, I am sure the bonuses above clearly show that Chase bank doesn’t play fair when it comes to looking for business and keeping their customers.
Bonuses are great incentives, especially in recent times, when most banks are struggling to look for clients. It ensures that your clients also stick with you for a long time, as most of them have a requirement of ensuring the account is operational for a specific period.
It is essential however to note that many other banks offer promotional bonuses for new and existing customers, so take your time to do adequate research, to ensure that you are getting the best possible offer there is in the market today.