Chase Bank is again offering a $100 bonus for opening a checking account. Here's the link to the promotions page. You still can get a $125 bonus, but this $100 one doesn't require direct deposit. You can qualify for the $100 bonus with just debit card usage. This $100 offer is scheduled to last through 5/28/2010. Here are the details of what's required from the offer's small print:
- Open a new Chase CheckingSM 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:
- 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.
Even though the small print implies that existing customers may qualify for this bonus, you may have difficulties. A reader reported trying to open another checking account for the $125 bonus. It was over a year since her last bonus, but the branch manager refused to let her apply for the promotion. You may have a better chance if you apply online.
Please refer to the Chase Bank Rates and Reviews page for a list of my previous Chase Bank posts including a $200 business checking promotion.
Thanks to the reader who emailed me news of this new promotion.