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About Ken Tumin

Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.

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History of Chase Bank Bonus Payouts


Chase Bank has a long history of offering new-account bonuses. These include bonuses for personal checking accounts, business checking accounts and personal savings accounts. From my personal experience and from my observations, Chase has a pretty good record of paying their bonuses. If you open an account using a coupon code and you satisfy the activity requirements (which may be just direct deposit), there’s a good chance you’ll receive the bonus without hassles. However, I have seen some complaints from readers. So I thought it would be useful to let readers provide input via a poll.

Please take the poll if you have participated in past Chase promotions for checking or savings accounts. Did Chase pay the bonus as promised? If they did pay, did you have to call to get the bank to pay? If they didn’t pay, was it the bank’s fault for not paying (You think you should have been paid since you met all of the bonus requirements.) The results of this poll should help readers decide if future Chase promotions are worthwhile.

Even if you receive the bonus at Chase, you may not come out ahead in the long run. You have to be careful that you avoid monthly service fees. Also, all of Chase account rates are very low or zero. So you’ll be earning very little interest. Nevertheless, if you’re careful, these bonuses can be good deals.

Current Chase Promotions

Chase regularly offers various new-account bonuses. Many of the checking account bonuses will have special promo pages that often don’t last long. So if you see a link to a Chase promo page that is no longer valid, you’ll have to keep searching. Some of the bonuses have no online promo pages. This is common for the Chase savings account. You’ll have to search for paper coupons. These usually can’t easily be shared since they have unique coupon codes. One reader just received a $125 savings account bonus coupon by email. You might also receive these by regular mail, and I’ve heard some readers receiving these when they ask for one at a Chase branch.

I’ve just updated my review of Chase Checking account bonuses with new links to $200 and $150 promotions. If you’re looking for savings account Chase coupons and other Chase paper coupons, this forum thread has some useful links.

Other Bank Bonuses

You can view my latest bank bonus blog posts in this bank bonus page. I and DA members often post on bonuses in the bank deals forum.

Related Posts

  |     |   Comment #1
chase is the best bank in the US, great service best bonus ,
Ida Kim
  |     |   Comment #35
Yes, if you get them. Not if you don't get your bonue and then have to wait months and have to nag them to get what they promised at the beginning.
  |     |   Comment #39
must be user error because I've open/closed chase so many times for their bonuses its adding up to 4 figure amounts.
  |     |   Comment #40
Yes and so did my husband and I. We each would open one. Only one per calendar year is what the rule was in the past. Now I just my mailings to friends to do.
  |     |   Comment #2
I was with Chase in my old city and now am a customer for the past 7 years in my new city.  Whenever I ask them about these bonuses I am always told they are for "new" customers.  I was not offered any type of bonus when I came to town.  My gripe with Chase is why does everything have to be for "new" customers. How about something for "old" dependable customers like myself who have all sorts of accounts with them.  I guess "old" doesn't count with Chase. 
  |     |   Comment #3
During previous Chase promos I opened a checking account using my SS#, one using my husbands, and a third with my son's SS#.  Also opened a savings account.  Received a total of $600 in bonus money---all paid precisely as  promised on the 91st day of each account being opened.  Have kept these accounts and with a relatively low minimum balance, have never had a service charge of any kind.  Especially with today's low interest rates, these promos are a good deal.
  |     |   Comment #4
I opened checking and savings accounts about 3 years ago with Chase.  They offered a $100 bonus.  I received it with no problems.

Chase is generally a good bank.  The one thing I don't like is their bill pay system does not support e-bills.  Bank of America does and it's what I use for paying most of my bills.
  |     |   Comment #5
I don't like JP Morgan Chase for several reasons, mostly having to do with their reckless involvement in the derivatives markets. However, their traditional banking and credit cards division has always paid the promised bonuses.

I do remember wanting to cash in two CDs I had there (a POD and a personal in the days when FDIC insurance was only $100,000) for a higher rate at another bank, back in 2006. The customer service rep. was fairly obviously trained carefully to push me into the arms of the resident stock broker, whose desk was on the opposite end of the branch.

The brokerage division was obviously giving bonuses to brokers who could sell toxic sludge to customers. He tried desperately to convince me to buy a bond fund specializing in subprime mortgages. No doubt, JPM was trying to unload its own toxic portfolio on its customers. Being a rather sophisticated investor, I was smart enough to refuse. But, I needed to do so repeatedly, because he kept protesting that I would allegedly be paid about 13% and that the money would be as "liquid and secure as in the bank".

Thank heaven I refused or I would be $200,000 poorer today... I never did move the CDs to the new bank, but bought gold instead, which was one of my better choices in life.
  |     |   Comment #7
My sister and I did the Chase promo twice. Think it was $250 back then. They paid as promised. I kept the credit card because they had 5% off several item that you chose. I used food, gasoline, electric, heat, TV internet and phone. This kept my sister busy and not thinking so much about her illness. The bonus helped with my sisters bills. Chase paid as promised. Think we had to pay tax on the checking and savings bonus but not on the credit card bonus or 5% cash back. I used the Chase AARP 5% cash back when we built a house about 2 years ago. Would not been able to do this without Ken's notices on his site.
  |     |   Comment #8
All good experiences with Chase, first when they kept Wachovia's going out of business rate on my IRA CD, and subsequently with three or four bonuses. The last one was just the other day with $175 for opening a $15,000 savings account. That's 2.3% interest until closed six months and one day from opening.

Yes, they pay almost no interest. But they have some great policies, like one day availability on most deposited checks.

They're my local bank of choice.
  |     |   Comment #9
I meant Wamu, not Wachovia.
  |     |   Comment #10
You will NOT get the chase checking bonus if you ever got a bonus for a chase checking account before!

Also, Chase ****ed me (and many others) out of promised AARP credit card rewards by involuntarily closing my AARP card before I could redeem the accumulated rewards points!
  |     |   Comment #11
Never a problem with Chase bonuses....either checking or savings....all paid on schedule.  I open both savings and checking accounts  and then close them after six months...... and then reopen  the following year for a new series of bonuses. 
  |     |   Comment #12
#11  I keep missing out on the bonuses.  Will they let you open and close them like that?  You must not have any direct deposits or autopays like I do because that would really be a mess for them if you open and close your accounts.  You have to get new account numbers don't you?  I'm surprised Chase has not caught on to this and found a way to put a stop to it.  You can't be the only customer doing this.  At least after reading your post, I have a feeling they will have others trying it.  :)
  |     |   Comment #13
Anonymous - #11,

If you close the account before a year is over, they will take back the bonus. I know that from my experience.
Ida Kim
  |     |   Comment #36
You have to leave for 6 months. But if you've already left for a year, shouldn't you get paid for the year that they've been using your money?
  |     |   Comment #14
Anonymous - #10,Tuesday, July 30, 2013 - 2:52 PM

"You will NOT get the chase checking bonus if you ever got a bonus for a chase checking account before!

Also, Chase ****ed me (and many others) out of promised AARP credit card rewards by involuntarily closing my AARP card before I could redeem the accumulated rewards points!"

So you were in on the abusing of the offer??
  |     |   Comment #15
As I mentioned above(#11)....I have received serveral Chase checking well as savings account bonuses.  Sometimes the terms state direct deposit required....sometimes they don't.  I've closed the accounts after 6 months without any penalty or having the bonus deducted.  Perhaps the terms are different based on the promotion or area of the country.  The last promotion I signed up for was $350....200 savings and 150 checking (or visa versa) and no direct deposit required.  Received one immediately and the other after 90 days.  Piece of cake.  Next month I will close and redo in 2014. Since No directed deposit was required I took advantage of the Citizens bank promotion a couple of months ago.  I think that was for $175.  I will close that after 6 months.  Also did the Key promotion which was painful.....terrible bank.  My feeling is these banks are making so much profit through fees loans and CC  on folks who can least afford it yet paying either 0% on your money or with a "relationship" .01%.....which turns out to be $.10/yr per 1000.  I'm delighted to take advantage of these banks.
  |     |   Comment #16
#15  There is something about this which you are doing with the Chase bonuses that bothers me as much as I don't have any real concern for Chase.  Does if ever occur to you that if Chase catches on that people like yourself are "churning" these bonuses and opening and closing accounts just to get bonuses that they will end up stopping all bonuses even for those who are just doing it the way it was intended to be?  You seem to think it is ok to basically "get even" with Chase for their low interest rates but you are only helping yourself and no one else by what you are doing.  If more people do this with other bank bonuses, before long I think they will be stopped entirely.  Since the Fed is pouring money into banks at practically zero interest rates, they know they really don't need our deposits.  I just don't want our banking system to take actions against depositors even worse than what we already have if and when they catch on to what is going on with their bonus policy.
  |     |   Comment #17


I don't for one second believe Chase is unaware of those who are "churning" their bonuses. I for one made it perfectly clear to the Chase representative when I opened the account that it would be for six months only and the bonus was in lieu of interest. I believe Chase studies the effects of bonuses and so far has concluded that the net result is an inflow of funds on which they pay no interest. Plain and simple. Those of us who consider the bonuses "interest" amount to far fewer than those who leave their funds earning none.
  |     |   Comment #18
To #13. Account were only required to be open for 6 months when I did this. You could do this once from Jan thru Dec  which both my husband and I each did and my sister and her husband did for a few years. 
  |     |   Comment #19
I am happy that so many of you were able to get those bonuses from Chase.  However, they did not make it clear to their dependable customers like myself that we could play this game and open and close accounts just to get those bonuses.  It seems like a very unfair way to run a bank.   If they were allowing such practices, it should have been told to regular customers so we could have had our chance at a bonus.
  |     |   Comment #20
#19, as we all know from here, bank bonuses are ways to get "interest" or bonus on our money, and for the banks to hopefully get our business. While it seems unfair; unfortunately, that's how business is done. There's examples of this in many industries. New business for more customers or more deposits is worth alot. Based on studies and blogs like Ken, banks make alot from customers, and, alot of people tend to keep their bank accounts. For Chase bonus offers, in the past, they were more lenient (just look at the terms on Chase offers from Ken's archive like from 2008 and older). Now however, Chase is more strict in the terms. Like not available to existing Chase checking customers or those whose accounts have been closed within 90 days or closed with a negative balance. Limit 1 new checking account-related bonus per calendar year.
  |     |   Comment #21
#20   I disagree with you "that's how business is done".  The bonuses, as I have been told by Chase, are for " new customers" only.  If someone takes the bonus knowingly that they are going to close the account after a few months just so they can do it again, they are not "new customers" and never intended to be.  To do this with other banks also to get the bonuses makes it worse, imo.  We have rules to live by in our society and we can't take things just because we make up our own rules for why we are doing it.  I think it is even worse to advertise it in this Forum since many others may read it and get the wrong opinion of the Forum. 

Using the excuse that it is ok to do this because interest rates are low does not excuse it.  It is the Federal Reserve that is keeping rates low so they are the ones we should be concerned about not the banks.    Thank you for your understanding.
  |     |   Comment #22
The problem with Chase is its failure to honor/acknowledge the right of privacy and continue to send harassing promotional opt out material which has been previously inputted with the reply..."opt out of every/all marketing" per California law!
  |     |   Comment #23
Just received another mailing from Chase. Can do this once a calendar year. $200 for opening a checking. Can keep $1500 in the account and have no direct deposit. After putting $100 in the opening deposit, $200 will be deposited with in 10 business days. Account must be kept open for 6 months. If my calculation is correct is that over 26.6% interest? 
  |     |   Comment #24
#23  Is that Chase bonus of $200 only for a certain district?.  I called them yesterday to see if they had any bonuses and they said no.  Maybe it is just for your area.  I will call Monday again and ask why they keep ignoring my area.  Thanks for the info.  If the letter says it has to be kept open for 6 months, you are good to go and then close if you want from the way it seems to indicate.  It really confuses me how they expect to get lasting customers out of this.
  |     |   Comment #25
Per #21:

"We have rules to live by in our society and we can't take things just because we make up our own rules for why we are doing it."

And what "rule" is being violated by complying with the terms of an offer?
  |     |   Comment #26
#25  No rule according to the terms of the offer the other poster just wrote about.  I was just informed by a Chase rep that the sales department sends out those mailings to areas where they hope to get new customers.  It seems many areas like mine never get the mailings because they must not need new customers.   If Chase really puts such terms in their letters they are encouraging people to use it for just the bonuses.  I, personally, would have no problem with using it if I got such a letter with the "6 months" in it.    I guess in certain areas they must really need more customers and are willing to chance they are encouraging people to use it for just the bonuses.  The not having to have the direct deposit is a big bonus to me.
  |     |   Comment #27
To #25, And what "rule" is being violated by complying with the terms of an offer? --maybe #21 and paoli2 are just very jealous that only new customers get these offers (and, even repeat-new customers). As agreed, the bonuses are for new customers (but also for repeat-new customers). Why should a bank give its loyal customers a bonus? These customers are loyal and stay. But, banks want new accounts (or customers)! They want our deposit money; they want us to pay fees for services; they want us to use their products; they want to offer us Savings accounts and credit cards; they want us to make mistakes and pay more fees and overdraft. They even want us to pay $25 for account closing fee (if closed within 90 days of account opening). The fact that some people constantly apply, open, comply, close, and repeat each year is their perogative. If they want to go through the hassle each year and the credit report and Chexsystems checks, and the hassles of closing the account, then let it be.

It reminds me of cableTV and internet; I got 3 months free as a bonus for new customer. After a year or so later, they had ads for get free cable and internet for 6 months for new customers only. I called customer service, and got no where. I spoke to their retention department, and still got no incentive or discounts to stay. So, I cancelled. A month or two later, I signed up as a new customer and got their promotion.
  |     |   Comment #28
#27:  Do I sound like I hate bonuses?  I am not jelouse of anyone getting them, I am just ticked off that Chase ignores it's best customers.  I think you are right about the reason.  They are so sure of us, their sales department doesn't bother to offer us anything.  They admitted to me they are going after "new" customers.  If these people (the bonus getters) are playing by Chase's rules then I would be the first to say "go for it".  I sure would!   I got a bit concerned when I read some were doing this with other banks also just to get the bonus.  I know these are hard times but that did not sit well with me.  However if the banks are egging them on by allowing the "ins and outs" then it's none of by business.  I couldn't do the multiple bank thing but I sure would like to have a chance at even "one" bonus. 
  |     |   Comment #29
I see 11% of the respondents to Ken's poll say they didn't receive their bonus due to Chase's fault. I can't tell how many represent 11 %, but I'm pretty sure it wasn't the fault of the bank.

I'd be interested to have those who voted that way explain how it was the bank's fault.
Ida Kim
  |     |   Comment #34
I deposited $10K to an account and they never deposited my bonus after a year. I contacted them about it and it took over 3 months to deposits my bonus. I overlooked that time. I deposited another $15K into the account. Again, no deposit after one year. Now he says I can get the bonus but have to keep my money in another 6 months. Can't they see I've left it there for over a year? 11% is pretty high and seems like they're taking advantage of their customers. I seriously want to find a lawyer to see if there's enough for a class action lawsuit. SERIOUSLY! It's not a lot of money to me but if they are doing this intentionally to 11% of their customers, I'm sure that it's a significant amount of money.
  |     |   Comment #30
Does anyone know what year Chase started these checking and/or savings account bonuses for new customers?  Thank you for any info you can share.
  |     |   Comment #31
Does anyone know what year Chase started these checking and/or savings account bonuses for new customers?-- maybe March 2008 or so. JPM Chase had far too few branches and customers then compared to today.
  |     |   Comment #32
#31 Thank you.  We became customers in 2006 so maybe they had not gotten around to the bonuses yet.
Disgruntled Customer and Long Time Fan of Chase, L
  |     |   Comment #33
Kevin, they have not honored the bonus for 2 separate accounts that I have opened up with them. Can we engage an attorney to see how many accounts they are doing this to and whether or not this is a pervasive action on their part?
  |     |   Comment #37
I have had the $500 bonus for several years in a row and well as my husband (when he was alive), my sister and her husband, my friend and her husband. I still get the postcards in the mail regularly. I gave the last
one to my son to do. Are you sure you did everything that was required? 
If you did bring your statements into the branch for proof and for answers, if no satisfaction, ask to speak to the manager and still if no satisfaction report it to the authorities. 
  |     |   Comment #38
I have always done chase bonus  accounts and I have always got my bonus deposited  into my accounts without any issues . In fact  I hunt for them  especially in this ERA  of  miserable interests rates in  other bank products like  CDs and MMA.
  |     |   Comment #41
I received a bonus from chase because I set up direct deposit, but I no longer work at my job which means the direct deposit is no longer linked to chase. The direct deposit has been linked for 60 days. Does anyone know if the bonus will be deducted and if so, when?

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