Chase Bank Checking: $200 sign-up bonus (expires 08/15)

You may be right, so 3 $501 deposits will get your account to $1503. Keep that in your account for 6 months before drain and close. NPV ~$180 based on my current interest rate.

To avoid fees: Option #1: Have monthly direct deposits totaling $500 or more made to this account

To get bonus: 2) deposit $100 or more within 60 days of account opening; AND 3) have your direct deposit made to this account within 60 days of account opening.

Thus, a single $501 direct deposit within 60 days is sufficient to meet the requirements. Drain the account to $0 after you get the bonus, and then wait 6 months to close the account.

I may be wrong, but I read it as you must have RECURRING monthly deposits, so I am not sure a one time deposit would work?