Chase is offering a $600 bonus for opening up a checking and savings account. This is one of the best bank bonuses that can be done over and over again. We recommend you do this whenever you become eligible.
Where do I enroll?
You can enroll directly at the promotion page Chase set up for this special offer:
Update 02/28/20: It’s back! Valid until 4/27.
- $600 Citizens Bank Checking and Savings Bonus
- $400 Wells Fargo Checking Account Bonus
- $300 U.S. Bank Checking Account Bonus
- $200/$1,000 Capital One 360 Savings Account Bonus
- What Counts As A Direct Deposit When It Comes To Bank Sign Up Bonuses
Who qualifies for the bonus?
Everyone is eligible for one checking bonus and one savings account opening related bonus every 2 years from the time you last received a bonus from Chase. That also means if you had a checking bonus from Chase in the last 2 years, but never opened a savings account, you can get the bonus for the savings (and vice versa).
What are the details?
The $600 bonus is broken up as follows:
- Checking Account: Receive a bonus of $300 when you open a Chase Total checking account with $25 or more and have a direct deposit within 60 days of account opening
- Savings Account: Receive a bonus of $200 when you open a Chase savings account and deposit $15,000 or more within 20 days of account opening and maintain a balance of $15,000 for 90 days
- Extra Bonus: Receive an extra $100 bonus for completing both account bonuses
Household Limit: None (everyone in your family can get the bonus!)
Direct Deposit Required: Yes, any amount for checking account (see what counts as a direct deposit)
Early Account Termination Fee: Must keep the account open for 6 months or you will forfeit the bonus
You can either apply directly online, or enter your email address and Chase will send you a coupon which you bring with you to a Chase branch.
The checking account has a monthly fee of $10-12 and the savings account has a monthly fee of $5, both can be waived if you do ONE of the following:
- Keep a minimum daily balance of $1,500 or more
- Keep an average daily balance of $5,000 or more in all your qualifying Chase accounts combined
- Keep a minimum daily balance of $300 or more
- Have at least 1 repeating automatic transfer of $25 or more from your Chase checking account (one-time transfers do not count)
- Have a linked Chase Better Banking Checking, Chase Premier Checking, Chase Premier Plus Checking, Chase Sapphire Checking, or Chase Private Client Checking account
The Bottom Line
This is the best promotion Chase has offered to the public. In the past, you could have done this every year, but since it got so popular, they have increased the time required between receiving bonuses to every two years.
The savings account’s requirement of leaving $15,000 in there for 3 months may be difficult for some people to do, but everyone should at least be opening up a checking account. Getting $300 for putting $25 in and having one direct deposit is easy breezy, lemon squeezy.
I’ve done this for 6 years now, and between 4 family members, this is an easy $2,400 in free money every other year!