Chase Bank Promotions Of September 2024: Earn Up To $3,000 By Opening A New Checking Account (2024)

Chase and other banks know that offering a cash bonus is a compelling way to attract prospective customers, and they often make it easy to qualify for welcome offers.

Sign-up bonuses vary by bank and account type, but the offers typically require you to open an account and complete some sort of qualifying activity.

To score a Chase checking account bonus, the qualifying activity might include a combination of receiving direct deposits, holding a minimum balance in the account, using your debit card or paying bills from the account.

Here are the Chase new-account promotions currently available. Offer details are accurate as of August 13, 2024.

Chase Checking Referrals

If you already bank through Chase, you can earn a bonus for referring your friends to open a qualifying Chase checking account. Plus, your friends can earn a bonus when they open an eligible Chase checking account and complete qualifying activities.

• What is the offer? Earn a $50 bonus for each friend who opens a qualifying Chase checking account, up to $500 per calendar year.
• What transactions qualify for the offer? Qualifying Chase checking accounts include Chase Total Checking®, Chase College Checking℠, Chase Premier Plus Checking℠, Chase Sapphire Banking, Chase Private Client Checking℠ and Chase Secure Banking℠.
• When do you receive your bonus? The cash will be deposited into your account within 30 days after the referred party opens an account.
• Is there a time limit on the offer? No. Chase’s Refer-A-Friend program is an ongoing offer.
• Can you avoid the monthly service fee? Rules regarding monthly service fees vary based on the qualifying account opened.

Chase Savings℠ + Chase Total Checking®

If you like doing all of your banking with one bank, Chase offers a way to earn multiple bonuses for opening Chase Total Checking® and Chase Savings℠ accounts. Plus, opening both accounts simultaneously and completing qualifying activities can earn you an additional $100 bonus compared to opening each account separately.

• What is the offer? Earn a $900 bonus when you open a Chase Total Checking® and a new Chase Savings℠ account at the same time and complete qualifying activities.
• What transactions qualify for the offer? For the Chase Savings bonus offer, you must open a new Chase Savings account, deposit a total of $15,000 or more in new money within 30 days of enrollment and maintain a $15,000 balance for 90 days from enrollment. For the Chase Total Checking bonus offer, you must open a new Chase Total Checking account and set up direct deposit within 90 days of enrollment.
• When do you receive your bonus? The cash will appear in your account within 15 days after you complete the qualifying transactions.
• Is there a time limit on the offer? Yes. It expires on October 16, 2024.
• Can you avoid the monthly service fee? The Chase Total Checking monthly service fee can be avoided if you do any one of the following:
  • Post a total of $500 per month in direct deposits or other payments into the account, including to your debit card
  • Keep a balance of $1,500 or more in the account at the beginning of each day
  • Maintain an average daily balance of $5,000 or more across all of your qualifying Chase deposit accounts.

You can avoid the Chase Savings monthly service fee if you do any of the following:

• Maintain a $300 balance or more at the beginning of each day
• Have $25 or more in Autosave or other recurring automatic transfers from a Chase personal checking account
• You’re younger than 18 years old
• Have a linked checking account from select Chase bank accounts

Here’s a look at Chase’s current bonus offers for savings accounts.

Chase Savings℠

For a simple savings account, Chase Savings℠ offers interest-earning with waivable monthly service fees, ATM access and automatic savings features.

• What is the offer? Earn a $200 bonus when you open a new Chase Savings account and complete qualifying activities.
• What transactions qualify for the offer? To qualify, you must deposit a total of $15,000 or more in new money within 30 days of enrollment and maintain a $15,000 balance for 90 days from enrollment.
• When do you receive your bonus? Chase will deposit the bonus in your account within 15 days of completing the requirements.
• Is there a time limit on the offer? Yes. The offer expires on October 16, 2024.
• Can you avoid the monthly service fee? You can avoid paying a service fee if you do any of the following:
  • Maintain a $300 balance or more at the beginning of each day
  • Have $25 or more in Autosave or other recurring automatic transfers from a Chase personal checking account
  • You’re younger than 18 years old
  • Have a linked checking account from select Chase bank accounts

Pros

• Available for personal and business accounts
• Both transaction-based and deposit-based cash bonuses are available
• Many bonuses require low direct deposit amounts of a low number of transactions to qualify
• Bonuses post to your account within 15 or 30 days of completing bonus requirements
• Referral bonuses for inviting friends to join Chase

Cons

• Savings account bonuses can be harder to find
• Eligibility often restricted to new customers
• Bonus earnings may be taxable

Chase regularly offers welcome bonuses to new consumer and business checking customers, and the promotions are generally competitive with those dangled by other large, national banks. Switching your banking relationship to Chase can mean an easy few hundred dollars in your pocket.

But before you open an account, consider what you’ll need to do to avoid a monthly maintenance fee. An account that qualifies for a bonus can be a great deal, but only if you tend to carry a moderate-sized balance in your checking account or will earn a fee waiver from other qualifying activities.

If your banking patterns mean you’re likely to be stuck paying monthly fees, take a look through today’s best checking accounts to see if there is another bank option that would be more affordable for you.

How Do I Get My Chase Bonus?

If you earn a bonus with Chase promotions, the bonus is credited to your Chase account automatically. There’s nothing you need to do other than meet any requirements needed to earn the bonus. If your bonus doesn’t arrive in the time frame you expect it to, you can contact Chase customer support by phone or visit a branch for help.

How Often Can You Get a Chase Bonus?

Chase Bank promotions for new accounts have restrictions regarding how often you can claim them. Generally, if you opened a Chase checking account at any time within the two years prior to applying for a new Chase Bank bonus offer, you won’t qualify.

1. You Can’t Churn Through the Offers

If you previously opened a checking account and received a welcome bonus within the past two years, you are ineligible to receive another bonus. Also, the promotional offers are meant for new customers. If you are an existing customer, you can’t simply close your account and open a new one and receive a bonus. If you have closed a Chase checking account within the last 90 days, or closed an account with a negative balance within the last three years, you are ineligible for a welcome bonus.

2. You Can Receive Both a Personal and a Business Welcome Bonus

If you are a small business owner, you can receive a welcome bonus for opening a business checking account even if you have an existing personal banking relationship with Chase.

3. You Must Keep the Account Open for a Time

Naturally, Chase wants to attract customers who plan to keep and use their accounts after they receive a welcome bonus. In most cases, you must keep your account open for at least six months after you enroll in the promotion in order to hold on to your sign-up bonus. If you close your account within six months, Chase will deduct the account bonus amount from your account at closing.

4. Your Bonus May Be Taxable

When you collect a welcome bonus for opening a new bank account, you can expect to receive a 1099-INT tax form detailing the promotional amount. This is because the welcome bonus is considered interest income for tax purposes and must be reported to the IRS.

Chase Bank promotions are worth it if you’re looking for a full-service bank with a range of checking and savings products. Its checking account bonuses are competitive with many nationwide and online-only banks. Furthermore, most bonus requirements are easy to accomplish and either require making a certain number of transactions or setting up direct deposits totaling a specific amount.

One downside of Chase’s bonuses is they’re largely reserved for new customers, which makes earning multiple bonuses challenging. Customers must also keep new accounts open for at least six months to avoid having the bonus amount deducted at closing, Additionally, many of these accounts charge monthly fees, although there are ways to have them waived. For this reason, Chase promotions are only worth it if you’re interested in the account and not just the bonus.

Chase offers several valuable bank bonuses for qualified customers. Depending on your banking needs and preferred bank, the following bank bonus offers may appeal to you more.

• Bank of America Bonuses:Open a new Bank of America Advantage Banking personal checking account online, using offer code TWA200CIS. Then, set up and receive qualifying direct deposits totaling $2,000 or more into the account within 90 days of account opening to receive a $200 bonus on the Bank of America Advantage SafeBalance Banking®.
• SoFi Bank Bonuses: With SoFi Checking and Savings Account¹, you can earn$50 bonus when you receive $1,000 to $4,999.99 in qualifying direct deposits or an up to $300 bonus² when you receive at least $5,000 in qualifying direct deposits during the bonus period².
• TD Bank Bonuses: With the TD Simple Savings, you can earn a $200 when you open a TD Simple Savings account, deposit $10,000 or more in new money within 20 calendar days, and maintain a balance of at least $10,000 for 90 days from the date of your deposit.

¹SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 8/27/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

²New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus when they set up Direct Deposit of at least $1,000 during the Direct Deposit Bonus Period. Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/24. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.
SoFi members with Direct Deposit can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.50% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 8/27/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.