$500 Chase Business Checking Bonus Open to Everyone & Really Simple to Complete!

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Chase Business Checking $500 Bonus

Chase Business Checking $500 Bonus

A couple of weeks ago I covered news of a new round of Chase business checking account bonus offers. These offers were showing on business accounts and were targeted. I was targeted for $300 and opened my account and my wife was lucky enough to get a $500 offer and opened hers.

Now, it seems that everyone can get the $500 bonus which is good news since it is really easy. All you need to do is deposit $500 and keep it in the account for 60 days. After the 60 days are up you will get the bonus, although you do need to keep the account open for 6 months or they will take it back.

How to Get Generate a $500 Bonus Code

To generate a code do the following:

You will then be given a code which can be printed. The account needs to be opened in a branch. I recommend making an appointment since a business specialist needs to open the account and you may have to wait or come back if they are busy. When you open the account, the Chase specialist will give you a printed confirmation of the bonus.

HT: Doctor of Credit for the direct link.

Other Things to Know

  • To get the bonus you need to open the Chase Performance Checking account which carries a $20 monthly fee. I was told the fee isn’t charged the first two months and that I could change the account to a lesser product after the bonus posts.
  • This offer is not available if you are a current Chase business checking customer or have closed your account in the past 90 days.
  • Limit of 1 business checking bonus per calendar year.
  • The initial deposit has to be new money. (It can’t come from another account at Chase.)

Matching From a Lesser Bonus

If you signed up under the lesser $300 bonus like me, then it can’t hurt to contact Chase and ask them to match the bonus. I have sent a secure message from Chase and my request is being researched. I don’t know what the outcome will be, but Chase is normally good about matching bonuses on credit cards so I am crossing my fingers.

Conclusion

In my opinion this is a great bonus offer for a couple of reasons. First, $500 without any hoops to jump through is nice. Second, bonuses on business checking accounts are more rare. Either way this is a good deal and one I am glad is now open to everyone. Enjoy!


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25 COMMENTS

  1. Do you know what the application process like if your business is…uh..not the equivalent of selling a couple things on eBay?

      • I am not sure, but it wouldn’t hurt to call a business banker at Chase to ask. My business is an LLC so I had to bring the formation documents and the EIN while my wife’s is a sole proprietor but she has a business license so she brought that.

  2. Thanks for the heads-up, Shawn!

    No Chase locations around here, but I’ll be in Orlando 6/18-28. Do you know if there’s an end-date for this promo? The code I generated said “it” expires 6/10. Not sure if “it” is the code or the promo.

    Thanks!

  3. Happens I’ve been wanting to open up an accounts for business purposes, to keep my growing … ebay transactions separate/out of personal accounts…. But no, I don’t have a separate business license, whatever. Just planning to file a schedule C at year end, if that…. But your headline blares, “really easy.” Not sure why that’s so.

    Moreover, this reminds me of Ariana Arggg’s rule about not…. where you eat. 😉 Given that I do a modest, yet growing amount of ms transactions with Chase Ink and other chase services travel cc’s, not sure I want my checking account to be held under the same corporate roof. (much as I generally like dealing with the chase uber-goliath)

    And that requirement that you have to do the application “in house” — as in at a branch — strikes me as a no-no zone, as in an invitation for a banker fishing expedition…. and those of us doing much ms (like you Shawn) are taking a big risk inviting the microscope directly into our ms kitchen.

    In short, nothing “simple” about this one….. Even if I had a Chase branch nearby, I’d be hesitant.

    • I consider this to be an easy bonus for people with a business. You simply need to make a deposit and don’t need to worry about hitting a minimum number of transactions or direct deposits. It is very simple in that way.

      As for expanding a banking relationship, pretty much all data points I have seen is that it helps. When I opened my business checking the banker didn’t look through all of my accounts nor do I worry about him doing that. He is a salesman who gets commission for opening accounts. It really is as simple as that.

      I guess we just see things differently. No problem with that.

  4. No Chase branches anywhere in the MA area.

    Would have to make a “run” closer to NYC, to get this.

    Too short a time, based on the offer expiration.

  5. Went into local Chase branch today and got GRILLED by the Private Client Banker I met with. Literally made me super uncomfortable with questions about how my business is established, how I find customers, how I pay my employees, how I handle my taxes, etc. Walked out and decided the $500 not worth it.

  6. Sounds like it might be a way to pick up a few bucks while opening a back door to the elusive Ink Plus, for those who know who they are.

  7. Here’s a progress report: applied yesterday with no business. All I did was apply and receive immediately an EIN from irs.gov. They even have an option to tick that the reason you are applying is just to satisfy banking requirements. I went and spoke with the banker, told them that I had been thinking of opening a business account in the past, and once I saw this offer (showing the printout) I had to jump on it, it does expire June 10 after all. It was nearly effortless, only need DL, credit card, and the EIN, mobile number, etc. Everything set up in under an hour. The banker even offered me to downgrade to the lesser business checking account (no fee with $1500 daily balance) after ONLY 2 months (since the first 2 months are waived for fees) to dodge all fees! My original intentions were to take a $80 hit on the last 4 months of the 6 month requirement and just pocket an effortless $420 after 6 months. Huge success so far!

    • Of course, I had a pseudo story about starting a business (you do have to tell them what your “business” is….I am the sole proprietor doing business as myself, did not need to register a business name or anything. I just told the banker of my [real] plans with a couple white lies to mask intentions of going after the bonus 100%.

    • Doesn’t the offer require you to keep the account for 6 months? If you downgrade after 2 months, wouldn’t you forfeit the bonus?

      • I don’t believe it counts as closing the account. It was just a means of avoiding all fees for the 6 months I keep the account open. At least the banker suggested this to me, and I opened up yesterday. We will see, I suppose.

          • When I was meeting with the banker, they never said anything about pulling my credit (however did request my SSN (which I forgot to mention in the above post.). I recently applied and was accepted for the Chase Freedom card this month, so, and also have a Chase Amazon card. I just now checked my credit report (by MyIDCare services from OPM, not credit karma) and I only see inquiries for the credit cards. Nothing is showing for the checking account I opened yesterday. I imagine soft pull, or they used my existing customer info.

    • I opened an account today and basically had the same experience. Took about 1/2 hour. Also got EIN just for this account. Told them I’ve been selling antiques on the Internet since 1999, which I have. Was told once the $500 bonus hits the account, call up and they will downgrade the account. The performance checking account does not waive fees for Veterans but the downgraded account does. So, I will not need a minimum balance and no fees will be charged to me when I switch accounts in two months.

  8. I just got off the phone with Chase and was told if I was a new checking account customer, it would be a hard credit pull (soft for existing customers). Is this true? Can someone confirm this?

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