Chase is offering another bonus for its checking account. This is only $100. Many of the past ones have been $125. Nevertheless, if you need a checking account, it can be an easy $100. Chase has set up a special page at coupon.chaseinformation.com. Offer expires 6/23/09, and it requires a branch visit. Here are the required steps to receive the bonus:
- Enter your email address in the promo page, and they'll email you the coupon with a unique code
- Print out the email and bring it to your nearest Chase branch
- Open a new Chase Checking(sm) account by 6/23/09 with a $100 minimum deposit
- Set up direct deposit OR make five debit card purchases within 60 calendar days of account opening
- $100 minimum opening deposit of new money
- Chase Checking(sm) 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 or 5 debit card purchases must be posted to account within 60 calendar days of account opening
- The reward will be deposited into your new account within 10 business days after the initial direct deposit or 5 debit card purchases have been posted to your account
- 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 Checking:
Avoiding a Charge for Checks
When you open the Chase Checking, you may be charged $23 for the first order of checks. You are allowed to turn down the checks. So make sure to mention this when you apply. When I applied two years ago, they offered me a special version of the checking account which included one free box of checks.
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. 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 in 2007, 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.
Checking Account Details
Some more important info about the 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. They're still in the process of converting WaMu branches into Chase branches, so you may not be able to use WaMu branches for these Chase promos yet. 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).
Credit for this find goes to MyMoneyBlog.