Get up to a $3,000 bonus when you open a Chase Private Client Checking℠ account with qualifying activities.
This is one of the highest amounts offered to become a Chase Private Client, solidifying that Chase really wants to be the place where you park all your savings and investments.
I’ve been a Chase customer for over 10 years because they’re one of the largest and most reputable banks in America. In addition to being a banking client, I’m also a cardholder of their premium personal and business credit cards due to their unreal benefits.
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Chase Private Client Checking Bonus Offer
Chase is offering a bonus up to $3,000 when you become a Chase Private Client and make qualifying transfers of new money or securities:
The bonus will be deposited within 40 days of completing the offer requirements. Chase Private Client is normally by invitation only. However, Chase has just released a new offer that’s open to the public.
How To Get The Bonus:
- Get a Chase Private Client upgrade code by submitting your email address at this enrollment link.
- Speak with a Private Client Banker to open a Chase Private Client Checking account at your nearest branch or over the phone.
- Fund your account with qualifying new money or securities to a combination of eligible checking, savings and/or J.P. Morgan investment accounts within 45 days of coupon enrollment. Your bonus will be determined on day 45.
- Maintain your new money for 90 days and enjoy your bonus – Chase will add it into your account within 40 days.
I recommend people to get an upgrade code as soon as possible, even if you don’t plan on opening an account right away. Sometimes the bonus gets pulled early, but those who have an upgrade code can still redeem them for the bonus if they open a Chase Private Client account before the offer expiration date.
Household Limit: None
Direct Deposit Required: No
Soft/Hard Pull: Soft
Early Account Termination Fee: None, but bonus may be clawed back if account is closed within 6 months
Eligible Accounts That Qualify For New Money Deposit:
- Personal Checking accounts (e.g. Chase Total Checking)
- Personal Savings accounts
- Eligible J.P. Morgan Wealth Management non-retirement investment accounts (opened in a Chase branch and serviced by a J.P. Morgan Private Client Advisor)
Eligible Accounts That DO NOT Qualify For New Money Deposit:
- Business Checking and Savings accounts
- Any J.P. Morgan Self-Directed Investing & Automated Investing accounts
- Any J.P. Morgan Wealth Management retirement accounts (such as Traditional and Roth IRAs, Keoghs, SEP and SIMPLE IRAs, and 401(k) plans)
- Insurance products
- Fixed and variable annuities
- J.P. Morgan Fund Accounts
- 529 College Savings Plans
- Attorney trust accounts
- Client fund trust accounts
- Government or Non-Profit accounts
- Donor-advised funds
How To Qualify For Chase Private Client
In order to qualify for the Chase Private Client program, you need a total of at least $150,000 in eligible Chase banking and investment accounts.
If you don’t have quite enough yourself, you can get access to the program if you share an account with an immediate family member who is a Chase Private Client. For instance, if your spouse is a client and you share a savings account jointly with her, you can also receive the benefits offered under the Chase Private Client program.
Don’t have a Chase banking or investment account yet? Many of them come with sign-up bonuses and welcome offers too. So if you’re looking to open one before upgrading to a Chase Private Client, check out these Chase promotions.
- Citi Personal Wealth Management $3,500 Bonus
- Merrill Edge Brokerage $1,000 Bonus
- Chase Sapphire Banking $1,000 Bonus
The Chase Private Client account charges a monthly service fee of $35 a month. You can waive this fee when have at least one of the following each statement period:
- maintain a monthly average balance of $150,000 or more in any combination of this account and linked qualifying Chase deposits/investments OR
- have a linked Chase Platinum Business Checking account
Qualifying personal deposits include up to nine Chase Private Client Checking accounts, Chase High School CheckingSM accounts, Chase First CheckingSM accounts, personal Chase savings accounts (excluding Chase Premier SavingsSM), CDs, certain Chase Retirement CDs, or certain Chase Retirement Money Market accounts.
Qualifying personal investments include balances in investment and annuity products offered through JPMorgan Chase & Co. and its affiliates and agencies. Balances in 529 plans, donor-advised funds, and certain retirement plan investment accounts do not qualify.
The monthly fees shouldn’t be an issue if you’re doing the bonus because you need to keep at least $150,000 in it anyway.
What Is Chase Private Client?
Chase Private Client is a program offered to Chase customers that keep a substantial amount of money in Chase banking and investment accounts.
Think of it as being a VIP customer that offers you many perks and benefit.
Chase Private Client Benefits
Here are all the benefits and perks that you’ll have access to when you become a Chase Private Client (CPC):
No fees on everyday banking:
- No ATM fees worldwide
- No Chase fee on incoming or outgoing wire transfers; can be completed online or over the phone.
- No Chase Foreign Exchange Rate Adjustment Fees.
- No fees on the first four overdrafts during the current and prior 12 statement periods.
- Rushed replacement of debit or credit card upon request at no cost.
Higher daily limits:
- Chase QuickDeposit℠ limits: Up to $100,000 per day and $250,000 every 30 days. For the first 90 days as a Chase Private Client, QuickDeposit limits are $25,000 per day and $100,000 every 30 days.
- Zelle® limits ($5,000 per day).
- ATM withdrawal limit up to $3,000.
- Purchase limit up to $7,500 with your Chase Private Client debit card.
J.P. Morgan Wealth Management Investments Benefits
- Your dedicated J.P. Morgan Private Client Advisor will evaluate your financial picture to help you prioritize your goals and design a custom portfolio that reflects what’s important to you, backed by J.P. Morgan’s industry-leading research and expertise.
- Access a range of advisory, brokerage and insurance products to build your custom investment portfolio. You and your advisor can speak regularly to check on your investments, and adjust your portfolio as markets shift and your goals change.
- With access to J.P. Morgan’s industry-leading research and insights, your advisor can help you navigate life changes.
- Private Client Banker ensures you get the most of your relationship and helps you manage your everyday banking needs.
- J.P. Morgan Private Client Advisor partners one-on-one to get to know you, your family and your finances to better support you throughout your investing journey.
- Home Lending Advisor provides you with customized advice and solutions for your home lending needs.
- Business Relationship Manager learns about your business and works with your team of financial specialists.
Chase for Business Benefits
Chase Platinum Business Checking℠:
- Chase Private Client Checking℠ account Monthly Service Fee waived when linked to a Chase Platinum Business Checking account.
- Reduced minimum balance of $50,000 for Chase Platinum Business Checking account when linked to a Chase Private Client Checking account.
- No Chase fee on incoming or outgoing wire transfers.
Chase Business Complete Checking®:
- No Monthly Service Fee on a Chase Business Complete Checking account when linked to a Chase Private Client Checking account.
- Invitation-only events: Family experiences, culinary demonstrations, thought leadership events featuring financial industry experts.
- Auto financing: Receive a 0.25% discount off the standard rate. Have a vehicle in mind? Apply directly on chase.com/auto and arrive at the dealer with financing in hand.
- CD ladders: Access to CD ladders with ability to mature at staggered intervals.
- Privileges card: Set spending limits for family member or caregiver.
- Rushed replacement of your debit or credit card almost anywhere worldwide at no charge
- Higher welcome bonuses available for in-branch credit card sign-ups (on a case by case basis)
The Bottom Line
The highest tier of this promotion, a $3,000 bonus, matches the biggest offer ever for opening a Chase Private Client account. The typical amount advertised in recent times is $2,000 so this is a significant offer.
If you have the available cash and/or securities to do this deal, I’d jump on it. The middle bonus tier is the best “bang for your buck”, providing an annualized return of 3.20% over 90 days for transferring $250k in assets:
$1,000 / $150,000 = 0.66%
0.60% x 4 = 2.67%
$2,000 / $250,000 = 0.80%
0.80% x 4 = 3.20%
$3,000 / $500,000 = 0.60%
0.80% x 4 = 2.40%
You can actually get a ~6.40% annualized return on the middle bonus tier because the offer terms allow you to make the deposit on Day 45 (you probably don’t want to cut it that close to the deadline) and hold it until 90 days after coupon enrollment.
Note that this is a different type of bonus than the standard Chase bank account opening bonuses. If you haven’t already, you can open a Chase Total Checking account for the bonus and then upgrade your account with this offer.
Chase considers this a separate type of bonus so you can do both – they’re on separate clocks. In other words, doing this bonus won’t make you ineligible for the other Chase checking and savings bonuses.
Deposit products provided by JPMorgan Chase Bank, N.A. Member FDIC. Deposit products are FDIC insured up to the maximum amount allowed by law.