Chase currently offers a variety of bonuses for personal checking, personal savings, and business checking accounts. Its Total Checking promotion offers a $300 bonus for only $500 in direct deposits, for an outstanding return on deposit of 60%. It's one of the best bank bonuses currently available, and if you're in the market for a new checking account this is a strong contender.
Chase has a reputation as being a very fee-heavy bank, and that’s true. But if you’re careful, there are plenty of ways to come out ahead with one of the many generous Chase Bank promotions.
Open a new checking account with the coupon code. You can do this online via the promotion offer page to make sure the correct coupon code is applied to your application. Alternatively, you can enter your email address to receive a coupon you can bring with you to a Chase branch if you want to open an account in person.
Set up direct deposit. You’ll have 90 days to set up and receive direct deposits that total at least $500. Direct deposits could include paychecks from your employer or government benefits, but they don’t include transfers between other people or bank accounts.
Wait for the bonus. After you set up direct deposit, Chase will deposit the bonus to your new checking account within 15 days.
Bonus Restrictions and Account Fees
Not available if you currently have a Chase checking account
Not available if you previously had a Chase checking account but closed it within the last 90 days, or closed it within the last three years while you had a negative account balance
Not available if you earned another checking account bonus from Chase within the past two years
Chase Total Checking® comes with a $12 monthly fee, but you can have it waived if you meet one of three requirements each month: have $500 or more in electronic deposits, a $1,500 balance at the start of each day, or an average daily balance of $5,000 across all of your linked Chase checking and savings accounts, if you have others. Surcharge Fees from the ATM owner/network still apply.
Chase Bank charges ATM fees if you use a non-Chase machine ($3–$5) and overdraft fees ($34, up to three times per day) for certain transactions. Surcharge Fees from the ATM owner/network still apply.
Chase Total Checking® also comes with a variety of other fees, such as for stop payment orders ($30), money orders ($5), domestic wire transfers (up to $35), and many more. Surcharge Fees from the ATM owner/network still apply.
Chase: Total Checking + Savings – $900
Bonus Amount: $900 for opening a Chase Total Checking® and Chase Savings account together
Open both accounts with the coupon code. Use the application link on the Chase Bank promotions page or enter your email address if you want to apply in person. You’ll need to open both accounts at the same time—not staggered.
Receive a direct deposit into the Chase Total Checking® account. Any amount will do, as long as it happens within the first 90 days and is a legitimate direct deposit (e.g., from your employer or a benefits provider) rather than a transfer from someone else.
Deposit at least $15,000 into the Chase Savings account within 30 days. You’ll need to keep that money parked there for at least 90 days. If your balance drops below $15,000 before then, you’ll lose the bonus. The money must come from outside of Chase Bank—it can’t come from your spouse’s Chase account, for example.
Receive your bonus in 15 days. Once you’ve met the account requirements, Chase Bank will deposit the bonus into one of your new accounts.
Bonus Restrictions and Account Fees
You’re not eligible for either the checking or savings bonus if you currently have a Chase checking or savings account, or closed either one within the last 90 days.
If you’ve earned a Chase checking or savings account bonus within the past two years, you’re not eligible.
Chase Total Checking® charge a$3 fee per withdrawal at a non-Chase ATM in the U.S., Puerto Rico and the U.S. Virgin Islands, charge a $5 fee per withdrawal at a non-Chase ATM outside of the U.S., Puerto Rico and the U.S. Virgin Islands. Surcharge Fees from the ATM owner/network still apply.
Chase Savings accounts charge a $5 monthly fee unless you can meet one of four requirements: have at least $25 in automatic transfers from another Chase personal checking account; have a Chase College Checking account linked to this account as overdraft protection; be under age 18; or have a linked Chase Private Client Checking account, Chase Sapphire Checking account, or Chase Premier Plus Checking account.
Chase Savings accounts also charge a $5 fee for each withdrawal past your sixth per month.
If all you want is the Chase Total Checking® account, this is a better bonus to select. Even if you don’t want the matching savings account, the bonus amount is $100 higher.
Open a new Chase Secure Checking account. You can open the account online or in person. If you’re opening the account in person, you’ll need to enter your email address on the offer page in order to get a code you can bring to the bank to ensure you get the bonus offer. Pay bills, cash checks and send or receive money with Zelle® with a Chase Secure BankingSMaccount.
Complete at least 10 transactions within two months. Transactions that count include swiping your debit card, ACH transfers into your account, paying bills online, using Zelle, and more. You have 60 days to complete these transactions in order to earn the bonus.
Wait 15 days for the bonus. Once you’ve finished making 10 eligible transactions, Chase bank will deposit the bonus into your account within 15 days.
Bonus Restrictions and Account Fees
You’re not eligible for this offer if you currently have a Chase checking account, if you’ve had one within the past 90 days and closed it, if you’ve had one within the past three years and closed it with a negative balance, or if you've received a Chase checking account welcome bonus within the last two years.
You can’t use paper checks with this account, only a debit card.
You can’t send or receive wire transfers or get a safe deposit box at a local branch with this account.
This account comes with a $4.95 monthly fee, with no option to waive it.
Chase Secure BankingSM charge a$3 fee per withdrawal at a non-Chase ATM in the U.S., Puerto Rico and the U.S. Virgin Islands, charge a $5 fee per withdrawal at a non-Chase ATM outside of the U.S., Puerto Rico and the U.S. Virgin Islands. Surcharge Fees from the ATM owner/network still apply.
You won’t be charged any overdraft fees with this account—instead, any charges you try to make that would overdraw your account will be declined right at the cash register.
This account is designed as a “second-chance account” for people who aren’t able to qualify for better checking accounts with fewer fees and more features.
You can use second-chance checking accounts much like how you use a secured credit card to build better credit. After a time with this account, you may be able to qualify for a better checking account elsewhere.
Open a new Chase College Checking account. Opening the account online is probably easiest. You can also enter your email address to get a coupon emailed to you that you can bring to a local branch if you’ll be opening the account in person.
Make at least 10 qualifying transactions within 60 days. You can qualify with a wide range of transaction types, including ACH transfers, debit card purchases, Zelle transfers, etc. But, you only have 60 days to do them.
Receive your bonus. Once you meet the requirements, Chase will deposit the bonus into your account within 15 days of when you qualify.
Bonus Restrictions and Account Fees
Only available for college students between the ages of 17 and 24
You’re not eligible if you already have another Chase checking account, or if you previously had a Chase checking account but you closed it within the past 90 days (or within the past three years if you closed it with a negative balance).
You’re also not eligible if you’ve received any other Chase checking account bonus within the last two years.
When you sign up, you’ll need to provide proof of enrollment, such as a bill statement or student ID. You’ll also need to provide your expected graduation date, which can be up to five years in the future.
There are no monthly fees while you’re in college. But once you either turn 24 or reach the expected graduation date you stated when you opened the account, you’ll start owing a $12 monthly fee unless you meet one of two requirements each month: have some sort of electronic deposit into your account or keep a $5,000 average balance in your account.
Chase College Checking charges a $3 fee per withdrawal at a non-Chase ATM in the U.S., Puerto Rico and the U.S. Virgin Islands. $5 fee per withdrawal at a non-Chase ATM outside of the U.S., Puerto Rico and the U.S. Virgin Islands. Surcharge Fees from the ATM owner/network still apply.
Open a new Chase Business Complete Checking® account. Chase offers the option of opening an account online or at a local branch.
Deposit and maintain a balance of $2,000 in your account for 60 days. You’ll need to fund your new account with “new” money—i.e., money that came from somewhere other than another Chase bank account—within 30 days of offer enrollment, and you'll need to keep that balance for 60 days.
Make at least five qualifying transactions within 90 days of enrollment. This could include making a purchase with your debit card, using online bill pay, etc.P2P payments made with Zelle and other services do not qualify.
Wait 15 days for your bonus. Once you achieve all of the deposit, balance maintaining, and transaction requirements, Chase Bank will deposit the bonus amount into your checking account within 15 days.
Bonus Restrictions and Account Fees
You’re not eligible for this offer if you’ve received another Chase business checking account offer within the past two years, if you currently have another Chase business checking account, if you’ve closed a prior Chase business checking account within the past 90 days, or if you’ve closed a prior Chase business checking account while you had a negative balance within the past three years.
The Chase Business Complete Checking® account charges a $15 monthly fee unless you meet one of five requirements each month: have a linked Chase Private Client Checking account; meet Chase Bank’s military banking requirements; use Chase payment solutions to process at least $2,000 of sales into your account; have $2,000 in your account at the end of each business day; or spend at least $2,000 with a Chase Ink business credit card, like the Chase Ink Business Preferred.
Thanks to the Federal Reserve, deposit account interest rates haven't been this high since 2001. That's because the Fed has raised the federal funds rate to its highest level in 22 years to help combat inflation. The rates on savings, money market, and CD accounts are directly influenced by the federal funds rate—when it rises, so do bank deposit rates. And with the Fed leaving the door open to more rate hikes in the future, deposit account rates could climb even higher.
Are Chase Bank Bonuses Worth It?
Chase Bank currently offers some of the best promotions among bank bonuses we track. You can earn $300 by opening a new Total Checking account and receiving $500 in direct deposits, giving you an excellent 60% return on your deposit. That's much better than the current median return of 18% among personal checking accounts we monitor.
The other personal checking offers above are good deals, too. The Secure Banking and College Checking promotions only offer $100, but they simply require 10 qualifying transactions, and no deposits. So they could be easily within reach if you often make debit card purchases.
The Business Complete Checking offer—$300 for a $2,000 deposit plus five transactions—doesn't quite match the Total Checking offer, but it's still a great deal compared to most other business checking promotions. You'd earn a return on your deposit of 15%, which is quite a bit higher than the median return of just 4.0% among business checking bonuses we track.
Chase is the largest bank in the country, by both assets and branches, with over 4,800 locations nationwide. That’s why a lot of people prefer banking with Chase—no matter where you go, there’s a good chance there’s a branch location nearby.
Pros and Cons of Chase Bank Promotions
Pros
Easy way to earn a cash bonus
Can receive bonuses for both personal and business accounts
Cons
Must be a new customer
Will need to have qualifying activity or meet other requirements
Cash bonus is taxable
Pros Explained
Easy way to earn a cash bonus: By opening a Chase Bank account that offers a promotion, you could easily earn a few extra hundred dollars without much legwork on your part.
Can receive bonuses for both personal and business accounts: Having a pre-existing personal account with Chase doesn’t disqualify you from earning a promotion on a new business account, or vice versa.
Cons Explained
Must be a new customer: To qualify for a Chase Bank promotion, you usually need to be a new customer who hasn’t earned a similar promotion in the past two years. Closing your current Chase account and opening a new one soon after, for example, won’t allow you to qualify for a cash bonus.
Will need to have qualifying activity or meet other requirements: Opening a Chase account usually isn’t enough to earn the promotion. You may also need to make a certain number of transactions within a certain period of time or maintain a minimum balance on your account.
Cash bonus is taxable: Similar to interest you earn on your checking or savings account, your cash bonus is considered taxable income. Chase will send you a 1099-INT tax form to report your bonus and other interest earned and you must pay taxes on the amount.
Most bank promotions aren’t around forever—you’ll have to open your account before the offer expires to qualify for the deal.
Alternatives to Chase Bank Promotions
Promotions from other banks: If you’re shopping around for a new bank, compare promotional offers from multiple institutions to find the best one. Some banks may offer higher cash-back amounts or accounts with lower fees. Check out the best bank bonuses to see what’s available.
Credit card offers: Another way to earn cash back is by opening a credit card with a cash-back welcome bonus. You’ll typically need to spend a minimum amount on purchases within your first few months with the card to qualify for the promotion. Be careful not to overspend simply to earn the welcome bonus, though, as credit cards typically charge high APRs.
CD promotions: If you’re looking to earn money on your savings, consider a certificate of deposit with a promotional offer. Some banks offer higher interest rates on CDs if you open one at a certain time or choose a specific term. Keep in mind, though, that you’ll be subject to a penalty if you withdraw your cash before your CD matures.
High-yield savings account: While one-time promotional offers may be tempting, it’s a good idea to review the rates and terms of a bank account before you open one. Low APYs and high fees may mean the bank account isn’t a good deal, even if it has a tempting cash offer. Instead, you could consider a high-yield savings account that offers high APYs and low (or no) fees on your savings year-round.
Frequently Asked Questions
Are Chase Bank Promotions a Good Deal?
Yes, Chase Bank promotions are often very good. However, the actual Chase bank accounts you’ll be signing up for may not be worth keeping for very long. They offer very low rates and come with high fees, so we suggest looking elsewhere for your long-term banking needs. Overdraft fees could wipe out the bonus you’ll earn for the Chase College Checking account in just one day, for example.
Are Chase Bank Promotions Taxed?
Yes, Chase Bank promotions are considered taxable income. At the end of the year, Chase Bank will send you an IRS Form 1099-INT so you can report the bonus you earned and pay your taxes on it. It’s a good idea to hold some money from your bonus back to pay the taxes.
How Do You Find Chase Bank Promotions?
Chase Bank promotions are not very well advertised on its website. In order to find them, we suggest following the links provided in this article. Each page offers an option to sign up, and we suggest using that specific link in order to ensure you’re receiving the correct Chase Bank promotion offer.
Can You Use Multiple Chase Bank Promotions?
Yes, but you’ll need to be careful about it. Most Chase Bank promotions are limited to people who don’t already have the same type of account open. For example, if you’re applying for the Chase Total Checking bonus, you won’t be eligible if you have any other Chase checking accounts open—but if all you have is a Chase savings account, for example, you’re still eligible for the bonus.
Does Chase Bank Have Any Promotions?
Chase Bank offers various promotions to qualifying customers. As of October 2023, Chase is offering cash-back bonuses on its Total Checking, Secure Banking, Business Complete Checking, and College Checking.
How Do I Claim My Chase Bonus?
You typically need to be a new customer of that account type (checking, savings, etc.) to qualify for a Chase bank bonus, and then you must meet any other requirements. Those requirements may be getting a certain amount in direct deposits, maintaining a minimum balance in your account, or making a certain number of transactions. If you qualify for the bonus, Chase will deposit the cash into your account, usually within 15 days of meeting requirements.
If you don't receive your cash bonus, contact Chase’s customer service for assistance.
Am I Eligible for a Chase Promotion?
You may be eligible for a Chase Bank new account bonus if you don't currently have this account type (checking, savings, etc.) with Chase, haven't closed it within 90 days or three years with a negative balance, and haven't received a welcome bonus for this account type within two years. Each promotion has its own eligibility requirements, so check the specific offer you’re interested in to see what criteria you need to meet. And after those basic eligibility requirements, you usually need to perform certain actions (direct deposits, maintaining a balance, etc.) to earn the bonus.
How We Track Bank Account Bonuses
Every business day, Investopedia tracks 23 banks and the current, new, extended, and expired account bonuses they offer customers. Banks are chosen based on consumer interest and we add banks to our list as needed to ensure we're always reporting on the best bank bonuses. We update our picks for thebest bank account bonuses, thebest checking account bonuses, and thebest savings account bonusesas needed, chosen based on bonus amounts, bonus requirements, and account features. We aim to provide you with news about checking and savings account bonus offers so you can take advantage of them as soon as possible.
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy.
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