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$75 Checking Account Bonus at Chase Bank - Update

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Chase Manhattan Bank
Chase has a $75 bonus for opening its free checking account online. Here's the promotional page link. A $100 minimum opening deposit is required. You can fund your account by using a credit card or transferring funds from another account. The $75 will be deposited into your account within 10 business days. The offer ends on 10/15/07.

Some additional important details include: Chase Free Checking has no monthly service fee when you have a monthly direct 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).

Credit for this find goes to this iBankDesign thread. One important point mentioned in that thread is that Chase will charge you $23 for the first box of checks. You may be able to prevent this if you write "do not order checks" on your signature card.

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 (which can slightly ding your credit score). Refer to this FW thread for more info on this.

Last month Chase was offering a $100 bonus for the checking. That promo page went away a week or two ago. Every now and then the $100 bonus pops up, sometimes online and sometimes on flyers. One advantage of this $75 bonus is that it can be done online without a branch visit.
  Tags: Chase Manhattan Bank, checking account

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Comments
8 comments.
Comment #1 by Bravedave (anonymous) posted on
Bravedave
Some other things to note: Unline Citibank (which only allows new customers to take advantage of such promos), Chase allows one to take this kind of promos once a year even if you're already a customer (I've done three so far). Also, I received the checks, but returned them to my branch saying I didn't order nor desire them. They credited me the check charge.

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Comment #2 by Anonymous posted on
Anonymous
It asks for the promo code, which is not available. Also, no option to decline checks. Do they automatically send checks and then charge for them?

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Comment #3 by Anonymous posted on
Anonymous
Bravedave said...

Some other things to note: Unline Citibank (which only allows new customers to take advantage of such promos), Chase allows one to take this kind of promos once a year even if you're already a customer (I've done three so far). Also, I received the checks, but returned them to my branch saying I didn't order nor desire them. They credited me the check charge.

Did you set up a real direct deposit or ACH transfers from another bank or PayPal? Also, did you mail back your checks or walked into a branch for that?

Thanks

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Comment #4 by Kevin (anonymous) posted on
Kevin
What is the minimum dollar amount that you have to send to Chase to count for the direct deposit? Is $50 each month enough?

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Comment #5 by Anonymous posted on
Anonymous
Anybody got their bonus yet? The page claimed 10 business days but I haven't received anything yet even though I opened my account almost a month ago. Upon contacting their Customer Service, I was told it will be credited to my account 8-10 _weeks_ after the _expiration_ of the promotion. False advertising?

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Comment #6 by Anonymous posted on
Anonymous
Following up on my post above re not getting the bonus. They are coming up with all sorts of excuses why they are not giving me the bonus. One was that I had to use online bill pay and another was that my opening deposit was not processed until 5 days later (I funded by credit card) and it has to be deposited on the same day as the account opening to get the bonus. I'm fed up and am closing my account. Thankfully there was no hard pull (yet).

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Comment #7 by Banking Guy (anonymous) posted on
Banking Guy
Sorry to read about the problems. Those excuses by Chase seem unreasonable. Beware of early closing fees. I can't find if they have this, but it's something to watch out for. Hopefully, they won't debit the amount of the bonus.

I'll have to note these potential problems next time Chase comes out with a new checking bonus.

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