You've probably seen the blue signs or the glossy mailers. Free money just for opening a bank account. It sounds like a gimmick, but a Chase bank new account bonus is one of the most reliable ways to make a few hundred bucks in an afternoon.
Banks are desperate for your data and your long-term loyalty. They know that once you set up your direct deposit and link your Netflix subscription, you’re probably staying for a decade. So, they pay up. But if you don't read the fine print, you’ll end up with a big fat zero and a monthly maintenance fee you didn't see coming.
Honestly, it’s a game. If you know the rules, you win. If you wing it, Chase wins.
The Current Landscape of Chase Offers
Right now, the most common offer is the "Total Checking" bonus. Usually, it sits around $300. Sometimes it's $200. If you’re lucky and catch a targeted "Premier Plus" offer, it might even hit $400 or $600 if you're willing to move some serious savings over.
Most people mess this up because they think "opening an account" is the only step. It isn't. Chase requires a "qualifying direct deposit." This is where the drama starts. If you’re a freelancer or you get paid under the table, this is much harder for you. They want to see a standard payroll check, a Social Security payment, or a pension deposit. Transferring $500 from your Venmo or your Robinhood account usually won't trigger the bonus. People try to find workarounds—they call them "faking the DD"—but Chase has gotten much smarter at sniffing out ACH transfers that aren't actually paychecks.
Breaking Down the Chase Total Checking Offer
This is the bread and butter. You open a Chase Total Checking account. You set up a direct deposit within 90 days. You wait.
The money usually hits your account within 15 days of that first deposit. It’s fast. Faster than most other banks. But here is the catch: you have to keep that account open for six months. If you close it on day 179? They’ll claw that bonus right back out of your remaining balance. It's savage.
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Let's talk about the fees. Chase Total Checking has a $12 monthly fee. You can dodge this if you have $500 in monthly direct deposits or keep a $1,500 daily balance. If you're just doing this for the bonus and you don't actually want to switch your whole life to Chase, you need to make sure you're not paying $12 every month for six months. That’s $72 gone. Your $300 bonus just became $228. Still good, but not great.
The Chase Private Client and Savings Bonuses
If you have a lot of cash sitting in a "high-yield" account that's actually earning 0.01% at a local credit union, you might look at the Chase Savings or Private Client offers.
These are different beasts.
For a savings bonus, they often ask for a massive deposit—think $15,000 or $25,000. You have to keep it there for 90 days. If you do the math, the "interest rate" you’re getting via the bonus is actually way higher than what any HYSA is offering. It’s like a short-term CD on steroids. But you can't touch that money. Not a cent. If your balance dips below the requirement for even one day because you had an emergency car repair, the bonus is dead.
The Private Client offers are the whales. We’re talking $1,000, $2,000, or even $3,000. But you need to move $150,000+ into Chase. For most of us, that's not happening. But for those who just sold a house or have a massive brokerage account they can move, it’s a massive payday for very little work.
What Most People Get Wrong About the Fine Print
Don't be the person who complains on Reddit because their bonus didn't post. There are specific "gotchas" that the bank hides in the legalese.
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The 2-Year Rule
You can’t be a "serial bonus hunter" every six months with Chase. You are generally only eligible for a Chase bank new account bonus if you haven't received a checking bonus in the last 24 months. Also, you can't currently have a Chase checking account open. If you closed your account yesterday, you can't open a new one today and get the cash. They usually want you to have been "gone" for at least 90 days.
Tax Man Cometh
This isn't a gift. It's interest. Chase will send you a 1099-INT at the end of the year. If you got a $300 bonus, you’re going to owe taxes on that $300 as if it were income. Depending on your tax bracket, that could be $60 to $100 gone. Keep that in mind before you go spend it all on a new pair of shoes.
The Coupon Code
You cannot just walk into a branch and say "Hey, I want the bonus." You need a specific link or a printed coupon code. If you open the account through the standard Chase.com homepage without clicking the specific promotional banner, you are often out of luck. They rarely retroactively apply codes.
Comparing the Different Tiers
- Total Checking: Best for most people. Low barrier to entry.
- Chase Secure Banking: This one is weird. No paper checks. A $4.95 fee you can't waive easily. The bonus is usually smaller (around $100). Only worth it if you have bad credit and can't get a "real" account.
- Chase Business Complete Banking: If you have a side hustle, this is the hidden gem. Often has a $300 bonus for maintaining a $2,000 balance and doing a few "qualifying activities" like using your debit card. You don't even need a formal LLC; you can apply as a sole proprietor using your Social Security number.
Is It Actually Worth the Effort?
Honestly, yeah.
If you spend an hour setting everything up and another hour changing your direct deposit at work, you've earned $300 for two hours of "work." That’s a $150 hourly rate. Hard to beat that.
But you have to be organized. Use a spreadsheet. Track the date you opened it, the date the bonus posted, and the date you are allowed to close it without a penalty.
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The banking world is full of people who forget to waive the monthly fee and end up losing half their bonus to the bank's "maintenance" costs. Don't be that person. Set a calendar alert for the 6-month mark.
Specific Steps to Secure Your Bonus
- Find the current best link. Use sites like Doctor of Credit or even the Chase "Specials" page. Don't use an expired link from an old blog post.
- Apply online. It takes about 10 minutes. You’ll need your SSN and a driver's license.
- Initiate the Direct Deposit. As soon as the account is open, go to your payroll provider (ADP, Workday, etc.) and move a portion of your check. You don't have to move the whole thing—just enough to meet the requirement.
- Confirm the landing. Keep an eye on the "Rewards" or "New Account" tracker in the Chase mobile app. It’s actually pretty good and shows you a progress bar.
- Wait out the clock. Keep the account alive for at least 180 days.
If you run into issues, don't call the general customer service line. Go into a branch. The "Personal Bankers" at the desks are incentivized to keep you happy, and they can often see things in the system that the phone reps can't. Just be polite. It goes a long way.
The Chase bank new account bonus is a tool. It's not a lifestyle change. Use it to pad your emergency fund, pay off a credit card, or finally buy that thing you’ve been eyeing. Just play the game better than the bank does.
Next Steps for Your Money
First, verify your eligibility. If you have had a Chase account in the last three years, dig through your old emails to find the exact date you closed it. If it’s been more than 90 days since closure and 24 months since your last bonus, you are clear to proceed.
Next, check your employer's payroll portal. Some companies take two pay cycles to update a direct deposit. If you need to hit the requirement within 90 days, you want to start that process the same day you open the bank account.
Finally, once the bonus hits, move the cash into a high-yield savings account (HYSA). While the Chase bonus is great, their ongoing interest rates on savings accounts are historically terrible—often as low as 0.01%. Don't let your new "winnings" sit there and rot; make them work for you somewhere else while you wait for the 6-month account closure window to open.