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New $125 Chase Checking Account Bonus - Update


Chase Manhattan Bank
There's a new $125 bonus page for a Chase checking account with direct deposit. The page allows you to apply online or at a branch. Like the last one, you have to be logged into your Chase account (credit card or bank account) to see it. Also be aware that these promo pages often end before the expiration date.

$125 Chase promotion page - 10/15/08 expiration - Must be logged in to see.

Some of the important common small print of these offers include:
  • $100 minimum opening deposit of new money
  • Chase Free Checking has no monthly service fee when you have direct deposit or at least 5 debit card purchases per cycle.
  • Limit one personal checking account-related reward/premium per customer, per calendar year.
  • The first direct deposit must be completed within 60 calendar days of account opening
  • The cash bonus will be deposited into your new account within 6-8 weeks after the initial direct deposit and is not considered part of the minimum opening balance.
  • Checking account must remain open for a minimum of six months or the reward will be debited from the account at closing.
  • Cash bonus is considered interest and will be reported on IRS Form 1099-INT.

Below are some additional details regarding these Chase Bonuses:

Avoiding a Charge for Checks

When you open the Chase Free Checking, you'll be charged $23 for the first order of checks. You are allowed to turn down the checks. This is an option in the onlin application. You can check "No thanks, I don't want to order checks." To play safe you may want to follow up with Chase by phone to ensure this recorded. Several readers in the past were charged for checks without their knowledge.

Direct Deposit

It has been reported by several of my readers that Chase treats transfers initiated from online banks or from PayPal as direct deposits. However, there have been some recent reports that PayPal no longer works. A reader in my last post said a Countrywide transfer did qualify as a direct deposit. You might want to try the ACH as soon as you open the account. If you don't receive anything after the first month, you can always add a real direct deposit before the end of the 60 days.

Hard Credit Pull

I checked my credit report after I opened this Chase checking account, and I did not receive a hard credit inquiry. I only received a soft pull via Experian. Perhaps it was due to the fact that I already had a Chase credit card. A reader in my last post also didn't receive a hard pull. One commenter in this previous post mentioned receiving a hard pull via Trans Union. Note, the hard credit pull temporarily dings your credit score.

An Extra $25 Refer-a-Friend Bonus

If you want an additional $25 refer-a-friend bonus, you may need to print the coupon and apply at a branch. Last year I was able to stack this and the $125 bonus, but there have been reports lately that this may no longer work. So your miles may vary. If you need a $25 refer-a-friend coupon, check the comments of this post or the past post. Several readers have reported having these available, and you can email them. Some of those readers may also be able to provide you with the scan of this $125 offer which you can include with the refer-a-friend bonus.

Checking Account Details

Some more important info about the free checking account is available at Chase. Without direct deposit or the 5 debit card purchases, there's a $6/month fee. There's a $2 fee for using non-Chase ATMs.

Chase Branch Locations

Chase has branches in many states but not all. There are no branches in California. States with Chase branches include Arizona, Colorado, Connecticut, Florida (Southwest), Illinois, Indiana, Kentucky, Louisiana, Michigan, New Jersey, New York, Ohio, Oklahoma, Texas, Utah, West Virginia and Wisconsin.

Chase is FDIC insured under JPMorgan Chase Bank, N.A. (FDIC Certificate # 628).

Hat tip to Hustler Money Blog author for mentioning this new promotion in the finding deals post.

  Tags: Chase Manhattan Bank, checking account

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Comment #1 by Anonymous posted on
I don't see this promotion when I sign in to my credit card accounts. Is this promo restricted to certain states?

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
After you log in, make sure you click on the above link at the top of this post. The promo page should then appear. It appeared to me this morning at least after I logged in.

Comment #3 by Anonymous posted on
Thanks Banking Guy. The promo page did appear following your instructions.

Comment #4 by Anonymous posted on
I took advantage of this promo, having been pleased with my Chase Rewards VISA. However, I got dinged for $3.00 for *each* ACH out of Chase Free Checking to my local credit union and other online banks. I just paid the lousy $25 early account closing fee to get rid of them. This account may be a good deal for others, but there are too many hoops to jump through (not to mention small print fees) to get that $125 that IMNSHO, Chase intends to take back in fees!

Comment #5 by Anonymous posted on
for refer a friend coupons, email me:

Comment #6 by mark (anonymous) posted on
I have 5 referral codes, if anyone would like one. Email me at

Comment #7 by Anonymous posted on
I just applied and made the opening deposit. I checked the terms and conditions and it states $3 per ACH for "certain accounts", however I called the rep and he told me they don't charge for ACH. I haven't tried yet but I'm concerned since I thought ACH was feeless and there are no Chase branches or ATMs in Los Angeles (besides the ATMS in Disney and Universal Studios). From the previous post, I noticed Chase charge ACH fee for interinstitution transfers. I want to know if Chase make a distinction between interbank transfer and credit card payment (which I intend to do) and not charge for the second. Can anybody clarify?

Comment #8 by Banking Guy (anonymous) posted on
Banking Guy
I logged into my Chase checking account and found the following for external transfers:

We do not charge any fees for making External Transfers to your accounts held by us. A fee of $3.00 will be charged to the From Account for each transfer you make from us to your External Account on the Business Day following the Send On date. This fee will be waived for Chase Plus Checking, Premier Platinum, Private Client Services, Private Banking, Home Equity Line of Credit and Commercial Banking customers.

I've been moving money in and out using an online bank account to initiate withdrawals and deposits. Chase has not charged me for these.

About credit card payments, this could be done by Online Bill Pay which is free.

Comment #9 by Anonymous posted on
I would bet Chase is like a lot of other big banks (BofA, Wachovia, etc.) in that they charge you $3 to have them PUSH transfers to your external accounts but do not charge anything when other banks PULL transfers from them. It makes sense - banks like gaining money via transfers, but don't like losing it.

Most likely the problem the poster above had is that they used Chase's system to PUSH money to their credit union instead of using their credit union's system to PULL money in.

Comment #10 by Anonymous posted on
When I log in to my Chase account and click your link all I get is some refer a friend coupons.

Comment #11 by Anonymous posted on
If anybody wants referral codes for Chase personl/Student/business checking account please email me at They are good till 11/07/08

Comment #12 by Anonymous posted on
Opened up a free checking with direct deposit and 30 days later got dinged a $65 airline miles rewards fee for their debit card. Had it refunded of course. Be on the lookout folks! I don't even recall ordering a card to begin with. Sketchy practice on Chase's part if you ask me.

Comment #13 by FR (anonymous) posted on
Can someone kindly email me a scan of the $125 new checking acct bonus? I want to print it out and take it to a branch. Yes, I am logged in thru my credit card acct, but clicking on the offer just produces a blank page (tried both IE and firefox). Thx

Comment #14 by FR (anonymous) posted on
oops. my email is

Comment #15 by Anonymous posted on
I am logged in and all I get is a blank page. I've tried Firefox, IE on both laptop and PC. It's not working. Help! Do you have a code you can give me?

Comment #16 by zoltrix (anonymous) posted on
If anyone needs a $25 chase referral, I have 3 left. Just email with your request, thanks!
I can even provide scan copy of the referral page.

Comment #18 by platinum solution (anonymous) posted on
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