Chase Business Checking, Get $300 Bonus With New Account

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Chase Business Checking $300 Bonus

Chase Business Checking, Get $300 Bonus With New Account

Chase is one of the most generous banks when it comes to bonuses, not only for credit cards but also for checking ans savings account. They have a $500 bonus currently for personal checking and savings and now there’s a new bonus of $300 for Business Checking. Account must be opened in a branch, so you need to have one nearby.

The Offer

Open a Chase Total Business Checking® account, deposit $1,000 in new money within 10 business days of account opening, maintain that balance for 60 days and complete five qualifying transactions within 60 days — debit card purchases, checks paid, Chase QuickDeposit, ACH (Credits and Debits) and wires (Credits and Debits).

After you have completed all the above checking requirements, bonus will be deposited in your new account within 10 business days.

Offer Expires: 12/22/2017.

Key Terms

  • You can only receive one new business checking account opening related bonus per calendar year and only one bonus per account.
  • Chase reserves the right to withdraw this offer at any time without notice.
  • Bonuses are considered interest and may be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).
  • If the checking account is closed by the client or Chase within six months after opening, bonus amount will be deducted for that account at closing.

Getting the Offer

This is a public offer and anyone can generate a unique coupon code online. It’s probably best to do this now, just in case the offer gets pulled earlier as it’s been the case on few occasions.

Generate your coupon here.

Avoiding Fees

Chase Total Business Checking has a $15 Monthly Service Fee ($12 Monthly Service Fee when enrolled in Paperless Statements). You can avoid the fee with:

  • Daily minimum balance of $1,500 or more OR
  • Linked Chase Private Client CheckingSM or Chase Premier Platinum CheckingSM personal account.

Analysis

We have seen business checking offers from Chase for as high as $500. But that offer was for the Chase Performance Business checking account, which has a $20 monthly fee that is waived with a balance of $50,000. This offer gives you $300 and the Total Business Checking account only requires a balance of $1,500 to waive the fee.

You can only get this bonus once a year. Since you need to maintain maintain $1,000 balance for 60 days and then wait 10 business days for the bonus, you will be receiving the bonus in 2018. That will disqualify you from receiving the bonus again until 2019. You could choose to wait for the $500 bonus instead, but I think this offer is pretty good as well. We also haven;t seen that $500 bonus in a while.

The $300 offer is available nationwide but you need to have a branch nearby to complete the account opening process which usually takes about 30 minutes. I usually just walk into a branch, but I have lots of branches close by. If you’re taking a relatively long drive, it’s probably best to make an appointment. Also check for any pre-approved credit card offers while you’re there and maybe open the personal checking and savings accounts as well for another $500 bonus.

Keep in mind that you WILL receive a 1099-INT for these bank bonuses and thus you will be taxed.

Conclusion

If you aren’t a current Chase business checking customer then this is a great bonus. It’s not the best we’ve seen, but the bonus requirements are very easy and you can also keep account fee free with a balance of $1,500. If you’re undecided, get the coupon now anyway and then decide if it makes sense for you. You can do this bonus once a year, and you must not have had a Chase account in last 90 days.

HT: Doctor of Credit


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