In addition to being the biggest bank in America by assets, Chase Bank has hundreds of locations and is present in all but a few states. Chase should be at the top of your list if you’re searching for a bank with a large nationwide presence. You may earn up to $200 by moving your personal checking account to Chase Bank or up to $300 by establishing a business checking account if you’re thinking about using Chase Bank for your personal or business banking needs.
How Do You Get a Bonus on a Chase Checking Account?
Chase and other banks often make it simple to qualify for welcome bonuses since they are aware that providing a cash incentive is an effective method to entice potential clients.
Sign-up bonuses differ depending on the bank and the kind of account, but generally speaking, the incentives demand that you create an account and carry out some form of qualifying activity
Receiving direct deposits, maintaining a minimum amount in the account, using your debit card, and paying bills using the account are all examples of eligible activities for a Chase checking account bonus.
The current Chase new-account promos are shown below. Offer information is current as of August 31, 2022.
Are These Bonuses from Chase Bank a Good Deal?
Chase often provides new clients of its consumer and commercial checking services welcome incentives, and the deals are typically on par with those offered by other major, national banks. If you switch your banking arrangement to Chase, you may easily pocket a few hundred bucks.
However, think about what you’ll have to do to avoid paying a monthly maintenance cost before you register an account. If you typically maintain a modest sum in your checking account or will get a fee waiver from other qualifying actions, an account that qualifies for a bonus might be a terrific value.
Look through the list of today’s top checking accounts to determine if there is another bank choice that would be more cheap for you if your banking habits indicate that you’re likely to be trapped paying monthly fees.
What Else Should You Know About Promotions Offered by Chase Banking?
The Offers Cannot Be Sifted Through by You
You are not eligible to get another incentive if you have established a checking account in the preceding two years and got a welcome bonus. The promotional deals are also intended for brand-new clients. You cannot just cancel your account and establish a new one to get a bonus if you are an existing client. You cannot get a welcome bonus if you have recently closed a Chase checking account (within the previous 90 days).
A personal and a business welcome bonus is available.
Even if you already bank with Chase for personal purposes, establishing a business checking account as a small company owner qualifies you for a welcome bonus.
In the same way, if you don’t already have a personal checking account with Chase but do have a business account, you could be qualified to get a welcome bonus for starting one.
For a while, you must keep the account open.
Chase naturally wants to attract clients who intend to maintain and utilise their accounts after receiving a welcome incentive. The majority of the time, in order to preserve your sign-up bonus, you must keep your account active for at least six months after enrolling in the programme. Chase will withdraw the account bonus amount from your account upon closure if you shut your account within six months.
Possibly Taxable: Your Bonus
A 1099-INT tax form with the promotional amount will be provided to you when you receive a welcome bonus for opening a new bank account. This is due to the fact that the welcome bonus must be reported to the IRS since it is deemed interest income for tax reasons.