Chase Business Checking, Get $500 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 $600 bonus currently for personal checking and savings and $1,000 for Chase Sapphire Banking. Now there’s a new bonus of $500 for the Total Business Checking account. You need to go to a branch, so you need to have one nearby. We usually see a $300 bonus for this account, so this offer is much better.
To get the offer follow these steps:
- Open a new Chase Total Business Checking account
- Deposit a total of $2,500 in new money within 20 business days of account opening
- Maintain that balance for 60 days
- Complete 5 qualifying transactions within 60 days – debit card purchases, Chase QuickDeposit, ACH (Credits) 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: 11/21/2019
- You can receive only one new business checking account opening related bonus every two years from the last enrollment date and only one bonus per account.
- Must not have an account closed within 90 days or closed with a negative balance.
- 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. You will need to go into the branch and open the account too. And remember that never every branch has a business rep working in the branch on Saturdays.
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 Checking or Chase Premier Platinum Checking personal account.
This offer gives you $500 instead of the usual $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 every two years now. But if you are eligible, don’t wait.
The $500 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 $600 bonus.
Keep in mind that you WILL receive a 1099-INT for these bank bonuses and thus you will be taxed.
If you are eligible, then this is a great bonus. The bonus requirements are very easy and you can also keep the 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 every two years, and you must not have had a Chase account in last 90 days. Just don’t wait too long. Chase usually pull these offers before the expiration date.
One more thing. If you did go for the $300 bonus on this same account, send Chase a message and ask to be matched. I have seen a few positive data points for people being matched, if they have applied within the last 21 days.
Hat Tip – Doctor of Credit