Chase Bank: Free $100 cash bonus for opening up a checking account!

Through May 28, 2010, you can get a free $100 cash bonus from Chase Bank when you open up a checking account with them.

Just print out your coupon here and take it to your local Chase Bank when you open your account. Within 60 days of opening your account, you must either set up direct deposit or make five debit card purchases to receive your $100 cash bonus.

Sounds like a pretty simple way to make $100 to me!

Thanks, Moms By Heart!

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Comments

  1. Rose says

    It does sound like a good deal, but the fine print states “Checking account must remain open for a minimum of six months or the bonus will be debited from the account at closing” and “Chase CheckingSM has no monthly service fee when you have a direct deposit or five or more debit card purchases post to your account each statement period.” So it seems that, to avoid a monthly service fee, you will continue to have to make five debit purchases a month for six more months before retrieving your bonus (unless you go the direct deposit route). Just a good idea to read all the fine print and make sure you can follow all the guidelines!

    • Nicoe says

      @Rose, I have done this promotion 3 times in the last 3 years (there is a limit of 1 per year). You will get the bonus within 10 days of your direct deposit or after you make 5 transactions on the debit card with the account. You don’t have to wait 6 months for the bonus. Only IF you cancel the account in less than 6 months will the bonus be deducted. Personally, this promotion got me to switch to Chase and I have been singing their praises for their great online banking, customer service, rewards debit card, and new great ATM check deposits ever since. I wouldn’t bank with anyone else. I have earned over $200 in gift cards (but you can choose cash) in the last 6 months with the new rewards card just by using my debit card as usual. It does cost $25 per year, but even with that cost deducted I have earned $175. Awesome!

  2. Emily says

    I”ve been thinking about opening up an account with Chase (they sent me a flyer with the same offer) because I am really unhappy with my current bank. Setting up direct deposit and keeping my money there for 6 months are no problem, so I think the deal would be great since I want to change banks anyway. Does anyone currently bank with Chase? Any thoughts on the bank?

    • MaryBeth says

      I bank with Chase and am pretty happy. They were great when I had someone else using my checking account. I have done this deal a few times (I had just gotten married and opened a joint account, and a “fun” money account for each of us). However, since we don’t have a lot of wiggle room in our budget for separate fun money, we don’t use those other accounts. They do charge a service fee (I think it is $5) if you don’t use it at least 5 times a month or have direct deposit, but since we aren’t using them we don’t get charged the fee.

    • Deb H. in Wisconsin says

      @Emily, We bank with Chase and are happy with our service. We love their online payment options (ask about those when you open your account). We do the direct deposit ~ so we don’t have the service fees. We also got one of these deals when we opened our account. You also can accumulate points by using your debit card and then redeem your points for gift cards, etc. They also have great points that can be earned through using their credit cards. I would recommend the credit card use only for those who are VERY disciplined in their spending. My hubby and I are in our late 40′s and have learned to “work the system” with our credit card use and pay it off completely at the end of each month. Please don’t use the credit cards if you have issues with them! Enjoy!

    • Mandi says

      @Emily,
      I joined back in February because I was unhappy with my bank and our local Chase was offering a $150 incentive. I have many family members who have happily banked with Chase for years and in the short time I’ve been there I have been very pleased. I would recommend linking your card to Leisure Rewards or Ultimate Rewards. Although it has a $25 yearly fee, I figured I’d test it for the first year since they gave me money to join the bank. I have already made that money back in rewards. I spend about $500 monthly with that account, to give you an idea of how much would be necessary to make it worthwhile. I received a joining points bonus, but it still seems to be adding quickly. The one important thing is that you must run your card through as a CREDIT, NOT DEBIT in order to gain points.

  3. says

    These bank bonuses are terrific! I did this last year and got my $100 bonus. I also earned a substantial amount of $ from other bank bonuses, enought to almost pay for my new to me car at the begining of last year.

    They are definately worth checking out, BUT you do need to keep really good records of what each deal’s requirements are. Excel works well for my tracking.

  4. Jeanette says

    We just received our first bank statement after taking advantage of a $125 bonus offer for opening up a Chase account, and for the first time ever someone used the debit card in my name (a card that was not activated) to purchase something in Euros. To be fair, Chase was great about it, but it took 40 minutes to talk to four different people to have a dispute letter mailed to us, freeze our online profile and now we will both have to go to the bank to open completely new accounts.

    Just be careful.

  5. says

    Just FYI, my savvy saving girlfriends:

    There is a teeny bit of a political issue involved here you may wish to consider: Because the Federal government (Congress) spent billions in TARP $$ to bail out “too big to fail” banks, allowing hundreds of smaller banks to collapse, many people have chosen to move accounts to local small banks, to support the idea that the government should not choose to favor some businesses over others. Some savvy home economists may wish to take this into consideration before leaving a neighborhood bank for the multi-national entity that is Chase. More here: http://www.huffingtonpost.com/arianna-huffington/move-your-money-a-new-yea_b_406022.html and http://www.minneapolisfed.org/publications_papers/pub_display.cfm?id=3352 and here http://www.npr.org/templates/story/story.php?storyId=123187632

  6. Dani says

    OK, question. Say in 8 months from now I decide that I don’t want the account. Can I close it without repaying the money? (I know it states you have to have direct deposit or 5 withdrawals for 6 months, but after that). I have a credit card through chase and I have not problems whatsoever with them so I highly doubt I will want to close it, but just in case I would like to know. ( They actually sent me an offer for $125.00 for opening the account with my credit card bill and I have been thinking about doing it)

    • says

      @Dani,

      No, you should not have to repay the money, so long as you meet their fine print requirements. I’ve actually closed most of the accounts that I opened to get the bonuses without any problems.

      Please know that you will receive a 1099 at the end of the year for your 2010 taxes. You will need to report your bonus (and any interest earned on the account) as income.

  7. Jen says

    We have been Chase customers for years, and have been very happy with their service. We’ve done this deal a few times. We set up a second direct deposit of $10 to go into the new account out of my husband’s paycheck. The rest goes into our joint account. It’s a nice way to build a little savings, since we rarely use the account. It was easier for us to do this, than try to remember to make 5 debits each month.

    Dani, they will not take the money back after the 6 month period. We have closed an account after the stated period before, and never had a problem.

    As someone else mentioned, Chase has awesome online bill pay options! Once you set it up with all the addresses and account numbers, it takes just a few minutes to pay your bills each month.

  8. Jen says

    I did the same as Jen above. I also had $25.00 direct deposited so I wouldn’t have to remember to do five debit purchases. That account is my drug store play money and I had $100 to start! Woo-Hoo. Actually, I opened it just to get the $100 bonus but have kept it opened. It is growing nicely because I don’t spend $25 at drug stores. At the end of the year it is going to be a very nice “Christmas Club account”, even though that was not what it was intended for at first.

  9. says

    I noticed on the coupon after printing it that the “coupon code” portion did not print any numbers. Had anyone had an issue with this when they take it to Chase to open the account? I’m going to try to open mine tomorrow! Thanks for the great info!!

  10. says

    I am in the midst of doing this deal and have one word of caution (or maybe I’m the only person who experienced this particular problem). I intended to go the direct deposit route as my employer will let us set up multiple direct deposits for our paychecks, so I figured I’d just have $20 sent directly into this new Chase acct each pay period and meet the requirement that way. Well, because I knew I wouldn’t be writing any paper checks on the account, I didn’t use the “order checks” option when I opened the account online. As a result, they also never sent me a starter pack of checks. I received my welcome email immediately that said I’d receive a letter shortly with my account number and checks if I’d ordered them. My ATM card by regular mail the next week, then my PIN for the ATM card a few days later. And that was it. I had absolutely no clue what my account number was or the ABA routing number. There are no Chase branches in PA so they don’t even list a routing number for the state on the website.

    I sent two messages through the website – both of which were answered very promptly – asking how on earth I’m supposed to set up direct deposit without even a starter check. I didn’t see why I should have to order their checks for $21 (!!!) to get this $100 bonus deal. The first reply sent me back a routing number (for Ohio) and my account number, so I printed that out and hopefully my payroll department will accept that for direct deposit. But I wrote again and asked why I never received any sort of official “welcome – here’s your account” information letter. Supposedly they’re going to send me something … now, three weeks later. It just seems pretty stupid to have a bonus tied to direct deposit but then not offer a letter or form or starter check of some sort. Other online banking sites provide direct deposit information you can print out in place of a voided check.

    One of the replies I received insisted that there’s a link “somewhere on the website that will fill in a form for you” but she couldn’t tell me where the link was and I’ve never found it, just a link for a blank direct deposit form that still wants me to “attach a voided check” that they’ve never provided.

    Anyway, just beware that this seems to be a slight glitch in the bonus deal unless there is an actual branch near you.

  11. reggie says

    I’m trying as we speak to open this CHASE account; however, the coupon that’s offered on this site will not be honoured by chase because it doesn’t have the code.

    I’ve called Chase and they said to contact the 3rd party (moneysavingmom); because without a code it is worthless.

    This makes me question some of (all of) the posts here because no-one has mentioned this missing code?

    • says

      Reggie: The coupon shown in the post is just a illustration, it’s not the actual coupon you’re supposed to use. Follow the link and directions in the post in order to get your own personalized coupon to use — as the rest of the commentors did — and you shouldn’t have an issue. Hope that helps!

  12. Sandi says

    We tried the same thing Reggie did today and ran into the same problem. I did go back to the “moneysavingmom” site to pull up the coupon again and saw that there was a link provided for the actual coupon. The problem is, although the MSM page says the offer is good through May 28, when you link to the Chase page for the actual coupon, it says the page no longer exists. Is this a coupon code that can be shared or did each coupon generate it’s own code. I ask, because we did open the account and the rep said all we had to do was call him to give him the code and he would apply the offer to our account. If it was a generic code, I was hoping someone might have a code they would be willing to share?? Thanks!

  13. Mandy says

    I’m having the same issue with the coupon code part of it. Today is the last day for it so if anyone has any ideas, I’d be open to hearing them. Would love to get an extra $100 : )

  14. says

    ijust opened a checking acc today the 28 . no coupon but i want the hundred dollar deal.can you help me ?my banker told me i han one month to find a coupon.

  15. Emily says

    Thanks for sharing this coupon – I did go in person to open the account. My word of advice is: try to open the account online instead of going in person to a local branch (for future coupons like this one).

    I was subjected to a 45-minute sales pitch about the debit cards that cost extra, etc. and then treated really rudely when I was only interested in the freebie deal.

    Next time I’ll skip the hard-sell treatment and just do it online instead!