What Chase offers for opening a checking account
Chase runs cash bonus offers on several of its checking accounts, but the amount and the conditions change throughout the year. The most common offers appear on Chase Total Checking and Chase Premier Plus Checking, with bonuses ranging from $200 to $500 depending on when you open the account and which product you choose. The bonus is not automatic — you have to meet specific requirements within a set timeframe to receive it.
Chase publishes these offers on its website and through its branches, but the exact bonus amount and requirements vary by location and by the date you open the account. A bonus available in one month may be different the next month, and some offers are only available online while others are only available in branches. You should check Chase's current offer page or visit a local branch to see what is being offered right now.
Key Takeaways
- Chase checking bonuses typically require you to deposit a minimum amount of money within 20 to 60 days of opening the account.
- The bonus amount and the conditions attached to it change regularly, so what was offered last month may not be the same offer today.
- You must meet every requirement — the deposit amount, the timeframe, and sometimes a direct deposit or debit card transaction — to receive the bonus.
- Chase will deposit the bonus directly into your new checking account once you have met all the conditions, usually within 10 business days of the final requirement being met.
Deposit requirements to earn the bonus
Most Chase checking bonuses require you to deposit a certain amount of money into the new account within a specific number of days. Recent offers have required deposits between $500 and $25,000, depending on the account type and the current promotion. If you do not deposit the full amount within the timeframe — usually 20 to 60 days — you will not receive the bonus, even if you open the account and meet every other requirement.
The deposit can come from another bank account, a paycheck, or any other source of funds. Chase does not restrict where the money comes from, only that it lands in your new checking account within the important date. If you are transferring money from another bank, allow extra time for the transfer to process, since the deposit must be completed before the important date, not just initiated.
Other conditions that may explore
Beyond the deposit requirement, Chase sometimes adds other conditions to its bonus offers. Some promotions require you to set up direct deposit into the account, while others require you to make a certain number of debit card purchases or transfers within the first 60 days. A few offers require you to maintain a minimum balance in the account, though this is less common than the deposit requirement.
The specific conditions depend on which account you open and which offer you are using. Chase Total Checking and Chase Premier Plus Checking often have different requirements, even when both are running promotions at the same time. Read the full terms of the offer before you open the account so you know exactly what you need to do to earn the bonus.
How and when you receive the bonus
Once you have met all the requirements, Chase deposits the bonus directly into your checking account. This usually happens within 10 business days of the final requirement being satisfied. For example, if the offer requires a $1,000 deposit within 30 days and you make that deposit on day 25, the bonus will typically appear in your account between day 35 and day 40.
The bonus is treated as a deposit to your account, not as interest or a fee credit. This means it will show up as a credit in your account history and will be included in your account balance. You can use the bonus money when ready once it appears — there is no waiting period or restriction on how you spend it.
Tax reporting for the bonus
Chase will send you a 1099-INT form if the bonus is $10 or more, reporting it as interest income. This is the standard tax treatment for bank bonuses. You will need to report this amount on your federal tax return as miscellaneous income. The 1099-INT will be mailed to you by January 31 of the following year, and Chase will also file a copy with the IRS.
Keep the 1099-INT with your tax documents. If you do not receive one by early February, contact Chase to request it. The amount reported on the form is what you must report on your tax return, regardless of whether you think the bonus should be taxed differently.
Comparing Chase checking accounts with bonuses
| Account | Recent Bonus Range | Typical Deposit Requirement | Monthly Fee |
|---|---|---|---|
| Chase Total Checking | $200–$300 | $500–$1,500 | $12 (waived with direct deposit or $500+ balance) |
| Chase Premier Plus Checking | $300–$500 | $10,000–$25,000 | $25 (waived with $25,000+ balance) |
Chase Total Checking is the entry-level option and usually has a lower bonus and lower deposit requirement. It also has a lower monthly fee, which can be waived if you set up direct deposit or maintain a $500 balance. Chase Premier Plus Checking is designed for customers with higher balances and offers a larger bonus, but requires a much larger deposit and has a higher monthly fee.
The bonus alone should not be the only reason to open an account. Consider whether the account's features, fees, and requirements match your banking habits. If you cannot meet the deposit requirement or do not plan to keep the account open, the bonus may not be worth the effort.
Frequently Asked Questions
Can I get the bonus if I already have a Chase checking account?
Chase typically limits bonuses to new customers or to customers who have not held a Chase checking account within the past 12 months. If you currently have a Chase checking account, you will not be able to receive the bonus on a new account. Check the specific terms of the current offer to confirm the may be able to access window.
What happens if I do not meet the deposit requirement in time?
If you miss the important date for the deposit requirement, you will not receive the bonus. Chase does not extend important date or offer partial bonuses for deposits that fall short. You will still have the checking account and can use it normally, but the promotional bonus will be forfeited.
Do I have to keep the account open to keep the bonus?
Once the bonus has been deposited into your account, it is yours to keep. You can close the account when ready after receiving the bonus without having to return it. However, if you close the account before meeting all the requirements, you will not receive the bonus.
Can I combine a Chase checking bonus with other Chase offers?
Chase generally does not allow you to combine a checking account bonus with a savings account bonus in the same process or within a short timeframe. The terms of each offer will specify whether you can stack it with other promotions. Read the fine print before opening multiple accounts.
How do I find out what Chase is offering right now?
Visit Chase's website and search for "checking account bonus" or "checking offers," or call 1-800-935-9935 to speak with a representative. You can also visit a local Chase branch to ask about current promotions. The offers change frequently, so the amount available today may be different next week.