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Chase Checking $300 + Savings Account $200 - $500

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Chase Total Checking A/c $300 (with Direct Deposit)
Chase Savings A/c $200 (with $15000 for 90 days)

https://accounts.chase.com/consum...px=TE99727

Offer Details:
Maximum bonus amount: $500 ($300 checking & $200 savings)
Availability: Nationwide, though the online link won't work unless you have a branch in your state. The in branch offer will work regardless of where you reside, but you obviously need to go in branch.
Direct deposit required: Yes, no minimum. Click here to view what triggers this bonus.
Additional requirements: None for checking; $15,000 balance for savings
Hard/soft pull: Soft
Credit card funding: Can fund up to $500 with a debit card online (prepaids do not work). Cannot fund with debit or credit in branch.
Monthly fees: $12, waivable
Early account termination fee: Bonus taken back if closed within six months

Receive a bonus of $300 when you open a Chase Total checking account with $25 or more and have a direct deposit post to the account within 60 days
Receive a bonus of $200 when you open a Chase savings account and deposit $15,000 or more in new money within 10 business days and maintain a balance of $15,000 for 90 days
Choose 'Apply Now' to open now online or enter your email address and Chase will instantly send a unique coupon code which can be used at a Chase branch.
Important Note: There's a slightly better $225 savings bonus offer, (direct Chase link), also available online. Best course of action is to open separately the $300 checking bonus with this link and the savings account with the $225 link. [There's also a $150 bonus which only ties up $10,000 of funds.]

The Fine Print
Valid through 9/28/17. 1/16/18 10/13/18
Checking offer is not available to existing Chase checking customers. Savings offer is not available to existing Chase savings customers.
Both offers are not available to those with fiduciary accounts, or those whose accounts have been closed within 90 days or closed with a negative balance.
Minimum $25 initial deposit on Chase checking.
You can receive only one new checking and one new savings account opening related bonus per calendar year.
Bonuses are considered interest and will be reported on IRS Form 1099-INT.
"Direct deposit must be paycheck, pension or government benefits (such as Social Security) from your employer or the government."
Bonuses will appear within 10 business days of meeting the requirements.
Savings bonus needs $15,000 of new money. The new money cannot be funds held by Chase or its affiliates.
Avoiding Fees
Savings Account
The Chase Savings Account comes with a monthly service fee of $5. Monthly fee is waived with any ONE of the following:
Keep a minimum daily balance of $300 or more
Have at least one repeating automatic transfer from your Chase checking account of $25 or more; one time transfers do not qualify
Have a linked Chase Premier Plus Checking, Chase Premier Platinum Checking, or Chase Private Client Checking account
Checking Account
The Chase Total Checking account comes with a monthly service fee of $10-$12 which is waived if complete any of the following:
Have monthly direct deposits totaling $500 or more
Keep a minimum daily balance of $1,500 or more in the checking account
Keep an average daily balance of $5,000 or more in any combination of qualifying Chase checking, savings and other balances
Early Account Termination Fee
If you close either account within 6 months of account opening, you will forfeit the bonus.
Geographic Availability
In past offers, this online $500 offer has worked even in areas where there is no Chase branches. For some reason, however, t's not working in all areas. Please share your experiences in the comments below. Being logged into your Chase account might be necessary. We've included some data points of it working/not working in specific states – keep in mind sometimes people get it to work in the same state that others can't so it's always worth checking.
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Created 08-10-2018 at 04:48 PM by destination4DEB
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16 Comments

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#2
Nice offer
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#3
Not working online
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#4
according to doctor of credit you can get pu to 525 now

https://www.doctorofcredit.com/ch...le-branch/

Quote :
Chase $525 Checking and Savings Bonus Publicly Available Online

Update (08/04/18) New link found, updated the link below (thanks reader Yo).

Offer Details

Maximum bonus amount: $500-$525 ($300 checking & $200 or $225 savings)
Availability: Nationwide, though the online link won't work unless you have a branch in your state. The in branch offer will work regardless of where you reside, but you obviously need to go in branch.
Direct deposit required: Yes, no minimum. Click here to view what triggers this bonus.
Additional requirements: None for checking; $15,000 balance for savings
Hard/soft pull: Soft
Credit card funding: Can fund up to $500 with a debit card online (prepaids do not work). Cannot fund with debit or credit in branch.
Monthly fees: $12, waivable
Early account termination fee: Bonus taken back if closed within six months
Expiration date: October 13, 2018 (often expires early so don't leave it to the last minute)
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#5
$200 & $225 bonus for a $15k worth of saving in 3 months can translate to 1.3% & 1.5% return of $15k in 3 months. Just saying, neither against it nor support it. Smilie
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Last edited by LouisNT88 August 10, 2018 at 11:19 PM.
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#6
Quote from LouisNT88
:
$200 & $225 bonus for a $15k worth of saving in 3 month can translate to 1.3% & 1.5% return of $15k in 3 month. Just saying, neither against it nor support it. Smilie

Good point. MMAs and savings accounts are paying better now...
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#7
checKing might be worth it but for savings with current avg 1.75, and with 15k for 6 months equals to roughly 133. so in reality ur getting less than 70 bucks for all the hassle of moving money etc.

Edit - did not realize the money can be moved back to ur high apr savings after 3 months. So itd be about 132 more.
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Last edited by yarnim August 11, 2018 at 01:48 AM.
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#8
Quote from vickh
:
Good point. MMAs and savings accounts are paying better now...
that's 1.3% / 1.5% in 3 months, so it's actually equivalent to 5.2%/6% annual savings account rate
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Our community has rated this post as helpful. If you agree, why not rep yifan_lu?
#9
Omg there's a lot of bad math going on here.

Banks compound interest daily but for simplicity let's assume interesting is compounded continuously. Then we have A=P*e^(r*t) where A is the amount you will get in t years with a rate of r on your P dollars.

So let's compute if this deal is worth your time.

First, just consider the $300 for opening a checking account with $25 and add direct deposit. Let's assume you set direct deposit to $1 and you keep it open for 1 months (until the first direct deposit goes through). Then to get the equivalent rate for a checking account elsewhere, we find:

r = 1/t * log(A/P) = 1/(1/12) * log(326/25) = 30.8% (annually but for 1 month)

Now let's consider the $500 for opening a checking account + savings account and deposit $15000 in savings for 3 months (no need for $25 in checkings since the requirement is minimum in combined savings + checkings)

r = 1/(3/12) * log(15500/15000) = 13.1% (annually but for 3 months)

Finally consider the $300 checking offer + the $300 savings offer for maintaining $25,000 for 3 months: https://accounts.chase.com/consum...ings010318

r = 1/(3/12) * log(25600/25000) = 9.5% (annually but for 3 months)

So obviously if you were going to keep the money in a savings/CD anyways, this is a no brainer considering you can easily move money back to your original account at Ally or where-ever after the 3 months. The only cost for you is the time it takes to open the account and set everything up which is about an hour or so.

BUT if you weren't going to have that money in a savings or CD or checking account and instead were thinking of investing it, then the right comparison would be the rate-of-return which is simply: (new amount - original amount)/(original amount). In that case we have

$300 bonus checkings only: 12.04% over 1 month
$500 bonus checkings + savings: 3.3% over 3 months
$600 bonus checkings + savings: 2.4% over 3 months

As a comparsion, the 3 month ROI for US Treasury Bonds (considered one of the most "secure" assets) is about 2.05%. The S&P 500 had 3.87% in the last 3 months. The Schwab small-caps fund (SCHA) had 4.51% in the last 3 months. Depending on your investment strategy, it may or may not make sense to put that money into a Chase savings account but do note that the risk here is essentially 0 versus the low but non-zero risk of these "safe" stock/bonds investments for the same timeframe. Anything riskier is not worth comparing imo.

Of course, don't leave your money in Chase over the required timeframe as their savings rate is shit and you'd be better at the countless online savings options. I use Ally personally.

(As a side note, this is why I don't understand the SD and other deals community. People go crazy and line up outside stores for hours for $10 off a $40 USB drive or $200 off a $1000 TV but $600 in free risk free cash? 2 thumbs up.)
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Last edited by yifan_lu August 11, 2018 at 08:06 PM.
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#10
Just to clarify - You must be a new member entirely, right? My wife and I just got married this Saturday and opened shared Chase Checking and Savings account (We both had separate Chase checking and savings accounts beforehand). Is there any bonus we can receive? Thanks in advance!
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#11
Quote from yifan_lu
:
Omg there's a lot of bad math going on here.

Banks compound interest daily but for simplicity let's assume interesting is compounded continuously. Then we have A=P*e^(r*t) where A is the amount you will get in t years with a rate of r on your P dollars.

So let's compute if this deal is worth your time.

First, just consider the $300 for opening a checking account with $25 and add direct deposit. Let's assume you set direct deposit to $1 and you keep it open for 1 months (until the first direct deposit goes through). Then to get the equivalent rate for a checking account elsewhere, we find:

r = 1/t * log(A/P) = 1/(1/12) * log(326/25) = 30.8% (annually but for 1 month)

Now let's consider the $500 for opening a checking account + savings account and deposit $15000 in savings for 3 months (no need for $25 in checkings since the requirement is minimum in combined savings + checkings)

r = 1/(3/12) * log(15500/15000) = 13.1% (annually but for 3 months)

Finally consider the $300 checking offer + the $300 savings offer for maintaining $25,000 for 3 months: https://accounts.chase.com/consum...ings010318

r = 1/(3/12) * log(25600/25000) = 9.5% (annually but for 3 months)

So obviously if you were going to keep the money in a savings/CD anyways, this is a no brainer considering you can easily move money back to your original account at Ally or where-ever after the 3 months. The only cost for you is the time it takes to open the account and set everything up which is about an hour or so.

BUT if you weren't going to have that money in a savings or CD or checking account and instead were thinking of investing it, then the right comparison would be the rate-of-return which is simply: (new amount - original amount)/(original amount). In that case we have

$300 bonus checkings only: 12.04% over 1 month
$500 bonus checkings + savings: 3.3% over 3 months
$600 bonus checkings + savings: 2.4% over 3 months

As a comparsion, the 3 month ROI for US Treasury Bonds (considered one of the most "secure" assets) is about 2.05%. The S&P 500 had 3.87% in the last 3 months. The Schwab small-caps fund (SCHA) had 4.51% in the last 3 months. Depending on your investment strategy, it may or may not make sense to put that money into a Chase savings account but do note that the risk here is essentially 0 versus the low but non-zero risk of these "safe" stock/bonds investments for the same timeframe. Anything riskier is not worth comparing imo.

Of course, don't leave your money in Chase over the required timeframe as their savings rate is shit and you'd be better at the countless online savings options. I use Ally personally.

(As a side note, this is why I don't understand the SD and other deals community. People go crazy and line up outside stores for hours for $10 off a $40 USB drive or $200 off a $1000 TV but $600 in free risk free cash? 2 thumbs up.)

Seems like you can do math but can't read fine prints...
For the checking account, you need to keep the account opened for at least 6 months or they will take the bonus away. To avoid monthly fee, you need to keep at least $1500 in the account or DD of at least $500 every month. Not sure what they will do if you close the account early and the account does not have $300+ at time of cloure. Care to redo the math with these conditions?
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#12
to be honest, I do not have $15000 currently.

To get a total of $500 bonus, can I open checking and saving account at different times, like two or three months gap between the opening of the two accounts?


TIA
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#13
Quote from netll
:
to be honest, I do not have $15000 currently.

To get a total of $500 bonus, can I open checking and saving account at different times, like two or three months gap between the opening of the two accounts?


TIA
You don't need to do both at the same time.
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#14
I have a joint checking account with a family member. Not eligible for current offer.
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#15
Links aren't working for me
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