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Update on Chase Checking Account Bonus & ACH Transfers

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Chase Manhattan Bank

Update 7/07/10: The $100 promotion has been extended to 8/14/10, and here's a new link to the promo where you can apply online.

Chase Bank has extended its $100 bonus for opening a checking account. Here's the link to the promotions page. You can qualify for the $100 bonus with just debit card usage. This $100 offer is scheduled to last through 6/30/2010. Here are the details of what's required from the offer's small print:

  • Open a new Chase Checking account with a $100 minimum deposit of new money
  • Within 60 calendar days of account opening, Chase must receive from your employer or the government a monthly electronic direct deposit of your payroll, pension or government benefits, such as Social Security, OR you must have at least five debit card purchases posted to your account.
  • The reward will be deposited into your new account within 10 business days after meeting one of these requirements

Some of the important small print:

  • Offer not available to existing Chase checking customers
  • Limit one checking account-related reward/premium per customer, per calendar year.
  • Checking account must remain open for a minimum of six months or the bonus will be debited from the account at closing.
  • Bonus is considered interest and will be reported on IRS form 1099-INT.

If you had a previous Chase Checking account, you may have trouble qualifying. A reader in my April Chase post mentioned that he was turned down at a Chase branch because he had a Chase Checking account 6 months ago.

Other Chase Promotions

Chase is still offering up to 25,000 Continental Airline miles for a checking account (see my review).

Occasionally Chase offers a $125 checking account bonus, but I don't see one that's active. The last one appears to have expired on May 15th. If you find a new one, please leave a comment. Update 7/7/10: This $125 Chase bonus came out last month and is suppose to last through 7/15/10.

Some Improvements in Fees - Free ACH Transfers

There has been an improvement in the fees that Chase charges. In March the reader AtlantaWolf mentioned that Chase had eliminated its $3 fee for outbound ACH transfers. I just confirmed this with a CSR via the online chat service. According to the CSR, all accounts now have access to free inbound and outbound ACH transfers. According to the CSR, they allow up to 25 links to external accounts.

Chase Checking still has other potential fees such as a $6 monthly service fee. To have this waived, you must have direct deposit or if you have 5 or more debit card purchases. There's also a $2 fee for using non-Chase ATMs ($3 for outside the U.S.) This Chase Checking page has more details on these fees.

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 larkin (anonymous) posted on
larkin
That small print about "Offer not available to existing Chase checking customers" seems to be recent.  I also noticed it on their Continental 25k miles offer.  It wasn't there when I opened my second account in February.

I was also told that there is now no fee for outgoing ACHs.

Now if they would adjust their bill pay to deduct the money on the receive date rather than the send date.

4
Comment #2 by Anonymous posted on
Anonymous
I was offered a $125 account opening bonus coupon when I used a Chase ATM with a non-Chase ATM card this past Saturday - May 29.  I'm not sure if this works at all Chase ATMs.  The ATM only gives you the offer after you complete your transaction (paying a $3.00 fee for using a non-Chase ATM card) so it's obviously best if you have a bank account that will refund your ATM fees to try this with.  I think it was the standard offer requiring direct deposit but didn't look too closely since I already have a Chase checking account.

1
Comment #3 by susa (anonymous) posted on
susa
Hi Bankguy,

Do you know the coupon code for the online application? I open it online and fulfilled all the requirement. But I didnot see the bonus after 14 business day. So I called chase. They insisted that I need to give them a coupon code. However I didn't see any coupon code after click the "apply online now" botton when I apply that account. Do you see any online code when you write this review? Thanks a lot!

1
Comment #4 by pearlbrown posted on
pearlbrown
One part of the process of adding external accounts works quickly.  I initiated the request to add an external account yesterday and the trial deposits (and withdrawal for a net deposit of zero) were in the target account this morning.  That's the good news. 

However, when I attempted to verify the amounts on the Chase website, the system said it was not ready for me to activate the external account.  According to a CSR, it takes 2-3 business days for their external account activity process to be updated with the amounts so they can be verified.   

 

1
Comment #5 by Anonymousjohn (anonymous) posted on
Anonymousjohn
chase still has 125 promo good till 4/30/11 pick up cpn in post office moving kit ,not every post office has it , try a few diff until you find it

1