Get $1,250 When You Upgrade to Chase Private Client [Targeted]

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chase private client upgrade bonus

Get $1,250 When You Upgrade to Chase Private Client

Chase has a huge bonus offer of $1,250 that was sent by mail to some current customers. The offer is to upgrade your account to Chase Private Client. This account needs a balance of $250,000 or more, so this is not a deal for everyone. let’s look at the details and whether it makes sense.

The Offer

Save time and money with better banking benefits and special services, plus a $1,250 Welcome Bonus. Hereʼs how to get started:

  1. Meet with a Private Client Banker by September 28, 2019 to upgrade your account to Chase Private Client.
  2. Within 45 calendar days, transfer a total of $250,000 or more in new money to a combination of eligible checking, savings and/or investment accounts, and maintain the balance for at least 90 days.
  3. Receive $1250 within 10 business days.

The account has no fees, but you need to maintain the $250,000 balance. Otherwise, you will be downgraded to another Chase account.

Key Terms

  • Offer not available to existing Chase Private Client customers.
  • Ineligible accounts: any You Invest accounts, Certificates of Deposit, insurance products; fixed and variable annuities; 529 College Savings Plans; any retirement accounts such as Traditional and Roth IRAs, Keogh, Simple IRAs, and 401(k) Plans.
  • After you have completed all the above requirements, we will deposit the bonus in your existing Chase Private Client Checking account within 10 business days.
  • You can only participate in one Chase Private Client Checking, Sapphire Checking or You Invest new money bonus in a 12 month period.
  • Coupon is good for one time use.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
  • Account must be kept open for 6 months, otherwise bonus could be taken back.
  • This bonus will be considered as interest, so you have to pay taxes.

Conclusion

Not a great deal. You Invest accounts would have been a good option to meet the balance requirement, but are excluded in the terms. If you keep the $250K in the account for exactly 90 days, you get a 2% return. Not very exciting, as you can usually do a bit better with other high yield accounts that do not have such a large balance requirement. But could be worth it for someone who wants the Chase Private Client relationship.

The responses below are not provided or commissioned by any advertiser or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by any advertiser. It is not any advertiser's responsibility to ensure all posts and/or questions are answered.

4 COMMENTS

  1. Earlier this year Chase sent me a deal to upgrade to Sapphire Checking. I had to put in $75,000 for 90 days and they deposited $600. I did it. But what prevented me from keeping the Sapphire checking account was no option for a high yield money market interest bearing account.

    Several of my banks have the option to simply move the funds into a Money Market checking account where you can use the funds whenever you want and earn up to 2.1%. But Chase doesn’t have that option. They said I could move it to a UInvest account an invest it myself but I just wanted to move it into a money market account earning 2% like other banks and they couldn’t do it so I closed the account.

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