Chase is again offering a $100 bonus for opening a Chase Free Checking account with direct deposit. Here's the promotion page link. You have to print the coupon and take it to your local Chase branch. A $100 minimum opening deposit is required. The offer ends on 8/31/07.
Some additional important details include: Chase Free Checking has no monthly service fee when you have a monthly direct deposit. Limit one personal checking account-related reward / premium per customer, per calendar year. Offer not available on account conversions or in combination with any other offer. Bonus will be automatically deposited into your new account within 10 business days of account opening, but not considered part of the minimum opening deposit. Checking account must remain open for six months or the reward will be debited from the account at closing. Bonus is considered interest and will be reported on IRS Form 1099-INT.
Some more important info about the free checking account is available at Chase. Without direct deposit, there's a $6/month fee. There's a $2 fee for using non-Chase ATMs (up from $1.50 in November).
About direct deposit, it has been reported in this FW thread that Chase treats transfers from ING Direct and PayPal accounts as direct deposits.
Also note, Chase has been reported to do hard credit pulls when you open checking accounts (which can slightly ding your credit score). Refer to this FW thread for more info on this.
Chase often has $50 and $75 bonuses for its checking account. The $100 is not as common. The last $100 promo that I posted on was in November.
Thanks to the reader who mentioned this bonus in the finding deals post.