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$125 Chase Checking Account Bonus


Update 11/22/07: Chase is having a post-Thanksgiving Day special with a $100 bonus. Please refer to this post for more info.

Update 11/19/07: The $125 promo link went dead again. They don't seem to last too long. It's no $125, but it can be done online without a branch visit.

Update 11/12/07: The promo link in this original post seems to have gone away.

Chase has increased its checking account sign-up bonus to $125. I found this when I was logged into my Chase credit card account. It should show you a unique coupon code under the image. A new coupon code is updated on each page load. You'll have to print this page and take it to your local Chase branch by December 31, 2007. The $125 will be deposited into your new Chase Free Checking Account within 6-8 weeks of establishing direct deposit.

This is the first $125 bonus I've seen for this Chase Checking. It has usually been either $75 or $100. Unfortunately, it requires a branch visit. Note, you may also be able to add another $25 refer-a-friend bonus although not everyone has reported success with this (see comments of this post).

Below are some issues to consider regarding opening this Chase checking account:

Expensive Checks

Chase will automatically charge $22.95 for a checkbook. You can either tell them when you sign up that you don't want checks or you can call Chase after you open the account and cancel the order. Please see my comments from this Chase post about this issue.

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.

Hard Credit Pull

I just 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. Others have reported a hard credit pull when you open an account (this temporarily dings your credit score). Refer to this FW thread for more info on this.

Other Important Small Print

Here are some important small print details at the bottom of the promotion page. According to this, you can do these bonuses once per calendar year:
Limit one personal checking account-related reward/premium per customer, per calendar year.

Chase may disallow the stacking of the refer-a-friend bonus due to this:
Offer not available on account conversions or in combination with any other offer.

And some other details:
The first direct deposit must be completed within 60 calendar days of account opening.

Checking account must remain open for a minimum of six months or the reward will be debited from the account at closing.

Reward is considered interest and will be reported on IRS Form1099-INT.

Checking Account Details

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).

Other Chase Deals

Chase also has some good credit card bonuses. The best one currently available (that I'm aware of) is a $100 bonus for its Chase Freedom Credit Card. Please refer to this post for more info.

I listed several other Chase bonuses in this September post. Some have expired, but some are still available like the $200 bonus for a new Chase business checking account.

Chase Branches 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).

Edit 1/13/08: Added info about hard pulls.

Related Pages: checking account

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Anonymous   |     |   Comment #1
My wife and I had a good experience with the $100 version of this bonus. We made a branch visit to open the accounts. The first order of checks was sent free, since we asked. The bonus was paid within a few days, even before our first "direct deposit" arrived (a small transfer from ING). With our checking account statements, they enclosed a coupon for $50 if we would sign up for bill pay and make 3 payments. A very good deal, considering our accounts typically have very small balances, and they've not charged us a penny in fees in 3 months so far. I just make small direct deposits (from ING) once a month.
Anonymous   |     |   Comment #2
I also have had a good experience with Chase. I received the $100 bonus within 2 weeks of opening the account although I was not able to add the $25 referral. A monthly push from ING has been satisfying the DD requirement.

On the flip side, I am having a bit of trouble getting the bill pay bonus. They've opened an investigation.

Chase customer service has been absolutely excellent.
Anonymous   |     |   Comment #3
I went to this page and it redirected me to the Chase Online page. I also have a Chase Freedom and logged into that, refreshing it a few times (they usually rotate the ads) and couldn't find anything.
Anonymous   |     |   Comment #4
ditto to above (10/30/07 5:21 AM Central time) "I went to this page and it redirected me to the Chase Online page. I also have a Chase Freedom and logged into that, refreshing it a few times (they usually rotate the ads) and couldn't find anything"
Banking Guy
Banking Guy (anonymous)   |     |   Comment #5
I had the same problem early this morning, but the promotion page seems to be back up as of 12:46pm CDT. I have seen past promotions from Chase end early. Hopefully, what happened this morning was just a glitch.
rose (anonymous)   |     |   Comment #6
I will not touch anything from Chase - the worst bank I ever dealt with. In my Brooklyn neighborhood the staff is hostile and contrarian,and has caused my father serious losses by refusing to honor his instruction to let me take out his matured CD not withstanding his written instructions, his paperwork, and even after THEY made several phone calls to him to his phone number THEY HAD on their files when he opened the account. He was overseas at the time and I had to make numerous calls to their head office before they finally agreed to let the money out of their clutches. A single day late in paying a credit card charge cost me $50.00, with the clerk repeatedly telling me it was ONE DAY LATE TOO LATE! Needless to say I paid the fine but closed the accout then and there and don't bank there anymore.
A terrible terrible corporation culture that trickles all the way down to the local bank clerk.
Even if they would offer me $1000.00 I will keep away from their bear hug thank you very much.
Anonymous   |     |   Comment #7
It would appear that the coupon is no longer accessible on the Chase website. However, I have been into branch and been advised that all is needed to utilise the offer is the offer number printed on the coupon. If someone has a copy of the coupon or any other record of what this number was, it would be much appreciated if this could be posted as a reply on this forum.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #8
Thanks. I've found another promo page and added it to the post. Perhaps Chase terminates these promo pages after it gets a certain number of hits.
Steve Austin
Steve Austin (anonymous)   |     |   Comment #9
looks like they rotated their ad page again. i follow your updated link and get "Chase OnlineSM - Logon"
Anonymous   |     |   Comment #10
I cannot believe they increased it to $125 literally less than a WEEK after I opened my account! So frustrating... aah! Sigh. Hope everyone is getting in on this increase though.

For anyone who needs one, I have a few $25 referrals, contact at nyzdreamzz at aol
Anonymous   |     |   Comment #11
The link is broken again.
Anonymous   |     |   Comment #12
I have a $125 coupon code PLUS a $25 referral bonus. That's $150 for opening a Chase checking account with direct deposit. Please email me at cbabula@optonline.net with your request. Coupons valid through 4/20/08
orijox (anonymous)   |     |   Comment #13
I had interesting experience with Chase $125 promotion. I called couple times and told with representatives from Chase Sales Department about PayPal, and I was assuredly informed that transfer from PayPal are considered as DD.
I opened Free Checking Account at branch 03/10/2008. banker also told me that PayPal as DD is OK.
First initial transfer from PayPal was on 03/17/2008 (PayPal Verified Bank with two small deposits on 03/11/2008). Second was made 04/16/2008. Yesterday I visited branch and asked same banker why I didn't receive my $125. He was a little bit confused - checked my account, found transfer from PayPal and after discussion by phone with Sales Department informed me that PayPal is not considered as DD any more. He promise me to do some investigation and asked me to wait till Friday (05/09/2008).

Will see what happens.
orijox (anonymous)   |     |   Comment #14
I called Chase Sales Department and got information that PayPal is not longer considered as DD. Account maintains fee without DD is $6/month, so I also asked why they don’t charge my account for maintains. Answer was – “We considered PayPall as DD, that’s why we don’t charge monthly maintains fee.” (!!!). So, from one side PayPall is DD, but they can’t give cash bonus, because PayPall is DD (!!!).Also, I was told that branch made mistake by not informing me that PayPall ish not good as DD and branch should credit my account with $125.

On 05/09 I stopped by at Chase branch and told with branch manager – he was surprised to hear that Chase doesn’t consider PayPal as DD (!). He promise me to take care and call me same day (he never called me!).

On 05/13 I was one more time at branch – no progress. On 05/23 I stopped the last time and told with assistant of branch manager. Ones again I explained all situation; she confirmed that Chase never considered PayPal as DD (!). Then I informed that I had same promotion last year and I got $100 cash bonus (and actually same banker closed this old account and opened new one on 10/03/2008). After that she accused me of manipulating with bank accounts to receive bonus!

Any ideas what I suppose to do with all this issue???