You’ve seen the mailers. They land in your mailbox with that distinctive blue logo, promising a "private" invitation to claim $300 or $900. Or maybe you were just scrolling through a finance blog and saw a massive banner for a Chase bank checking account offer. It sounds like free money. It basically is. But honestly, most people mess this up because they don't read the fine print about "direct deposits" or they accidentally close the account too early and have to give the money back.
Getting a bank bonus isn't rocket science. It's more like a chore that pays really well. Chase is currently one of the most aggressive banks in the country when it comes to "buying" customers. They want your primary banking relationship, and they are willing to pay a premium to get you away from Wells Fargo or Bank of America.
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The Reality of the Chase Total Checking Bonus
Right now, the most common Chase bank checking account offer is the $300 bonus for opening a Chase Total Checking® account. It’s their bread-and-butter product. You don't need to be a millionaire. You just need to be a new customer.
What does "new customer" actually mean in Chase-speak? It means you haven't had a Chase checking account in the last 90 days. Also, if you’ve received a checking bonus from them in the last two years, you’re out of luck. They track this stuff meticulously. If you closed an account 18 months ago, don't bother applying for the bonus today; they'll see it.
How to trigger the payout
The "Direct Deposit" requirement is where the drama happens. To get that $300, you have to make a qualifying direct deposit within 90 days of coupon enrollment.
What counts as a direct deposit? Chase defines this as a recurring paycheck, pension, or government benefit (like Social Security) via the Automated Clearing House (ACH) network.
Here is what usually doesn't work:
- Transferring money from your savings account at another bank.
- Zelle payments from your mom.
- Depositing a check at the ATM.
- Moving money from PayPal or Venmo (though sometimes this works, it's risky and often gets flagged as a standard transfer rather than a payroll deposit).
Avoiding the Dreaded Monthly Fees
There is no point in getting a $300 bonus if Chase takes $12 back every month in service fees. That's $144 a year. Over two years, your bonus is basically gone. The Chase Total Checking account has a $12 monthly fee, but you can dodge it easily if you know the rules.
You need to do one of three things. First, have $500 or more in total monthly direct deposits. This is the easiest way for most people with a steady job. Second, keep a minimum daily balance of $1,500. This means at no point—not even for a second—can your balance dip to $1,499.99. If it does, you get hit with the fee. Third, you can have an average daily balance of $5,000 or more across any combination of Chase accounts (like savings or investments).
The "Six Month" Trap
This is the part that kills people. You get the $300. You're happy. You want to take the money and run. Don't do it.
If you close your account within six months of opening it, Chase will claw back that bonus. They will literally subtract $300 from your balance before they cut you a final check. If you've already spent the money and your balance is zero, they might send you to collections or just blacklist you from the bank forever. Keep the account open for at least 181 days. Mark it on your calendar. Set a reminder on your phone.
Is the Chase Premier Plus Worth It?
Sometimes you’ll see a Chase bank checking account offer for the Premier Plus account. It usually offers more money—maybe $400 or part of a $900 bundled offer—but the requirements are steeper.
This account usually requires a $25 monthly fee unless you keep a $15,000 balance. For most people, parking $15,000 in a checking account that earns almost zero interest is a bad financial move. You’re better off putting that money in a High-Yield Savings Account (HYSA) where you could earn 4% or 5% interest.
Math matters. If you leave $15,000 in a 0.01% checking account just to save a $25 fee, you’re losing hundreds of dollars in potential interest every year. Stick to the Total Checking account unless you specifically need the perks of Premier, like free personal checks or no fees on money orders.
The $900 Bundle: The Holy Grail
If you are feeling ambitious, look for the $900 bundle. This isn't one account; it’s two. It’s the $300 checking bonus plus a $200 savings bonus, with an extra $400 tossed in for doing both.
The catch? The savings side is heavy. You usually have to deposit $15,000 of "new money" into a Chase Savings account and leave it there for 90 days.
"New money" means money that isn't currently at Chase or JP Morgan. If you move money from your Chase checking to your Chase savings, it doesn't count. It has to come from an outside bank.
Real World Nuance: Tax Implications
Nobody likes to talk about this, but the IRS considers bank bonuses to be interest income. It is not a "gift."
When tax season rolls around, Chase will send you a 1099-INT form. If you got a $300 bonus, you have to report that $300 as income. Depending on your tax bracket, you might end up paying $60 to $100 of that bonus back to the government. It’s still a win, but it’s not a "clean" $300.
Dealing with the Chase Application Process
You can apply online or in a branch. If you go to a branch, bring the coupon code. Seriously. Print it out or have it on your phone. If the banker forgets to attach the code to your new account, you won't get paid, and trying to fix it later via customer service is a nightmare.
Applying online is faster, but Chase's fraud detection system is famously twitchy. If you’ve moved recently or changed your phone number, they might decline your online application and tell you to visit a branch anyway. Don't panic. It doesn't mean your credit is bad (opening a checking account usually involves a "soft pull" on your credit, which doesn't hurt your score). It just means they want to see your ID in person.
Why Chase is doing this
Banks are desperate for "sticky" customers. Once you set up your direct deposit, link your Netflix account, and start using the Chase app, you are very unlikely to leave. It's a hassle to switch banks. Chase knows that paying you $300 today might result in thousands of dollars in profit for them over the next decade through credit card interest, mortgage fees, or investment management.
They are playing the long game. You should too.
Technical Checklist for Success
If you're ready to pull the trigger on a Chase bank checking account offer, follow these steps precisely.
- Check your history. Make sure you haven't had a Chase checking account in the last 90 days and haven't received a bonus in 24 months.
- Grab the right link. Go to the official Chase website or use a reputable site like Doctor of Credit to find the highest current offer.
- Open the account. Complete the application and make an initial deposit (even $25 is usually fine).
- Switch your payroll. Go to your employer's HR portal and move at least $500 of your next paycheck to the new Chase account.
- Wait for the "Pending" status. Usually, the bonus hits your account within 15 days of the qualifying direct deposit landing.
- Maintain the balance. Keep that $1,500 in there or keep the $500 direct deposits coming to avoid the $12 fee.
- Hold for 6 months. Do not close the account until you hit the 181-day mark.
Actionable Next Steps
First, go to your current bank and see what interest rate you are earning. If it’s less than 4%, you’re already losing money.
Second, search for "Chase $300 checking bonus" and find the landing page that requires a "Direct Deposit." Avoid the ones that require high balances if you don't have the cash sitting around.
Third, once you open the account, set a calendar alert for six months from today. On that date, evaluate if you like the Chase app and service. If you do, stay. If you don't, move your money to a high-yield account and close the Chase account. You've successfully completed a "bank hit," and you're $300 (minus taxes) richer.
The most important thing is to act quickly. These offers change every few months. Sometimes they go up to $400; sometimes they drop to $200. If you see $300, it's generally considered a "strong buy" in the world of bank churning.
Check your employer's direct deposit lead time too. Some companies take two pay cycles to update your banking info. If you wait until day 80 to update your payroll, you might miss the 90-day window and lose the bonus entirely. Get it done in the first week.
Move the money. Get the bonus. Don't let the bank win the fee game.
Summary of Key Requirements for the $300 Total Checking Offer:
- Target: New Chase customers only.
- Action: Electronic direct deposit required within 90 days.
- Duration: Account must stay open for 6 months to avoid clawback.
- Fee Avoidance: $500 monthly direct deposit or $1,500 daily balance.