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Chase Business Checking Account $200 Bonus

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Chase Manhattan Bank

Update 11/9/2011: There's a new $200 bonus. It requires a $2,000 initial deposit. Account must be opened by 11/30/2011. Here's the new Chase promotion page.

Chase Bank is again offering a $200 bonus for opening a business checking account. Here's the link to the promotions page where you can get the coupon. They will email you the coupon, and then you'll have to take it to your local Chase branch. To receive the bonus, a $5,000 minimum deposit is required. Offer is scheduled to expire on 5/15/2010. Here's the small print of the offer. I've highlighted some of the important details:

Offer valid through 5/15/10. To qualify for this offer, open a Chase BusinessClassic Checking, BusinessClassic Checking with Interest, Chase Advanced BusinessChecking, Advanced Business Checking with Interest, Commercial Checking, Commercial Checking with Interest, or Chase BusinessPlus Extra Checking account and deposit a minimum of $5,000 or more into your new business checking account within 30 days of account opening with funds not currently on deposit with Chase or any of its affiliates. Account opening and award of premium are subject to approval (interest bearing accounts available only to sole proprietorships, non-profit organizations, and government entities). Limit one business checking account-related premium per customer per calendar year. Chase reserves the right to withdraw this offer at any time without notice. Attempts to earn multiple premiums may be voided by Chase, at its discretion. Offer not available to existing Chase checking customers. Coupon must be presented at time of account opening. Offer not available on account conversions or in combination with any other offer and is non-transferable. Employees of JPMorgan Chase Bank, N.A. and our affiliates are not eligible. Cash premium will be deposited automatically into your checking account within 10 business days after the minimum deposit requirement is met. Cash bonus may be considered interest reportable on IRS Form 1099-INT.

In January this $200 bonus only required a $500 initial deposit. Another thing that appears to have changed is that it's not available to existing Chase checking customers. So if you already have a personal checking account, you may not qualify for this business account bonus. About the requirement of only one bonus per calendar year, a reader described how her local Chase branch was more strict on this issue.

Thanks to the reader who emailed me the info on this promotion.

Personal Checking Account Bonuses

For personal checking accounts, a $125 bonus appears to be the best that's available. Please refer to Chase Checking Bonus post for more details. If you can't log in, refer to this post for another option.

Beware of Fees

As with personal accounts, the business accounts also have potential monthly fees. One way to avoid monthly fees on the BusinessClassic Checking is to link an active Chase Business credit card to the account.

Chase Branches

It appears Chase has finished the conversion of all WaMu branches. According to this Wikipedia article, the last branches that were converted were the ones in AZ, CA, CO and NV in October 2009.

States with Chase branches include Arizona, California, Colorado, Connecticut, Florida, Idaho, Illinois, Indiana, Kentucky, Louisiana, Michigan, New Jersey, Nevada, New York, Ohio, Oklahoma, Oregon, Texas, Utah, Washington, West Virginia and Wisconsin.

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

Other Bank Bonuses

To find other bonus deals at other banks, please refer to my bank bonus page which has all of my recent bank bonus posts.


  Tags: Chase Manhattan Bank, checking account

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Comments
5 Comments.
Comment #1 by Anonymous posted on
Anonymous
I would suggest going into a Chase branch that was always a Chase branch. I used a converted Wamu branch and the staff was friendly but untrained/incompetent. They want you to physically go into the branch to corner you and sell you other options, so be firm on your original intent. Also, the person opening my account messed up my SSN and online setup. Going back to the branch (again, mandatory), and rectifying that with another inexperienced person took 30 minutes! I was more than happy to close my bonus checking account after the 90-day requirement, just so I wouldn't have to deal with them further. The $125 bonus barely made us even, time- and aggravation-wise.

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Comment #2 by Anonymous posted on
Anonymous
Does anyone know how long you have to keep this account open to not lose the bonus?  The offer does not seem to say anything about that.  Given the monthly fees, and the requirements to avoid them, one may not want to keep this account for too long.

Thanks.

1
Comment #3 by Anonymous posted on
Anonymous
I did this promotion last year.  You have to keep the account open for 6 months or you risk them taking the money away.

2
Comment #5 by Anonymous posted on
Anonymous
If you do not keep $5,000 in your Chase business account every month, they will charge you a $15 fee every month. So if it's difficult to keep $5,000, you will be losing $180 every year due to these idiotic fees thanks to some Obama bill. I was told my other option would be to spend over $1,000 on credit card every month. So you are rewarded if you spend lots but if you can't save it you are penalized as well.

3
Comment #6 by Anonymous posted on
Anonymous
Is there a fee to close this account?

3