You've probably seen the mailers. They show up in that thick stack of "pre-approved" junk, promising $300, $400, or even $750 just for opening a Chase business account bonus offer. It sounds like free money. It kind of is, honestly. But if you've ever tried to actually trigger one of these bonuses, you know that the fine print is a total minefield. One wrong move—like dipping $5 below the required balance for a single afternoon—and that "guaranteed" cash evaporates into thin air.
Chase isn't a charity. They want your deposits because it helps their liquidity ratios, and they want you in their ecosystem so they can sell you merchant services or a high-interest line of credit later.
The Reality of the Chase Business Account Bonus
Most people go for the Chase Business Complete Banking® offer because it's the entry-level tier. Usually, it's a $300 carrot. To get it, you typically have to deposit $2,000 of "new money" within 30 days. Here's where people mess up: "new money" means cash that isn't already sitting in a Chase personal checking or savings account. You can't just shuffle $2k from your personal Chase liquid account into the new business one. It has to come from an outside bank, like Mercury, Bluevine, or even a local credit union.
Then there's the "holding period." Chase generally requires you to maintain that balance for 60 days. If you pay a vendor on day 59 and your balance hits $1,999? Game over. You just did all that paperwork for nothing.
Why the $750 Performance Business Offer is a Different Beast
If you’re scaling, you might look at the $750 bonus tied to the Chase Performance Business account. This is a much heavier lift. You’re usually looking at a $20,000 deposit requirement. For a lot of freelancers or small LLCs, tying up 20 grand for two or three months just to grab $750 represents a significant opportunity cost. If that money could be earning 5% in a high-yield money market or being reinvested into inventory that turns over fast, the "bonus" starts to look a lot less attractive.
However, if you have the cash sitting in a stale, zero-interest savings account anyway, moving it to Chase is a no-brainer. It's essentially an annualized return that beats almost any standard savings vehicle.
👉 See also: Why 425 Market Street San Francisco California 94105 Stays Relevant in a Remote World
The "Qualifying Transactions" Trap
It’s not just about the deposit. Chase almost always requires "qualifying transactions."
Usually, this means you need to perform five specific actions within 90 days. This could be using your debit card for a business purchase, sending a wire, or depositing a check via the mobile app. Don't just buy five $1 Amazon gift cards. While that technically counts as five transactions, banks have become increasingly aggressive about "gaming" behavior. Buy something real. Pay for your Shopify subscription. Buy a ream of paper at Staples. Make it look like a functioning business because, well, it is.
Understanding the Tax Implications (The Part No One Likes)
Here is the thing: that Chase business account bonus isn't a "gift." It's interest.
At the end of the year, Chase will send you a 1099-INT. If you got a $750 bonus and you're in a high tax bracket, you might only actually "keep" $500 of that after Uncle Sam takes his cut. It’s still profit, but it’s not tax-free. People often forget this and get hit with a surprise bill in April.
Monthly Fees and How to Kill Them
You shouldn't ever pay a monthly fee on these accounts. If you're paying a $15 or $30 monthly service fee, you're just giving the bonus back to the bank month by month. For the Business Complete account, you can usually waive the fee by maintaining a $2,000 minimum daily balance. For the higher tiers, the requirements get steeper.
✨ Don't miss: Is Today a Holiday for the Stock Market? What You Need to Know Before the Opening Bell
- Keep the minimum balance.
- Or link a Chase Private Client account.
- Or meet the minimum spend on a linked Chase Ink credit card.
If you can't hit the waiver requirements naturally, this account might actually cost you more than it's worth over a two-year period.
The "Early Closure" Clause
Don't take the money and run.
Chase is notorious for their six-month rule. If you open the account, get the bonus at the three-month mark, and close the account at month four, they will claw that money back. They will literally suck the $300 or $750 right out of the account before they cut you the final closing check. You need to be prepared to keep this account active and healthy for at least 180 days.
How to Apply Without the Headache
You can apply online, but if your business is an LLC with multiple members or a complex S-Corp structure, the online system might kick you out. It’s often easier to book an appointment with a Business Relationship Manager at a local branch.
Bring your EIN confirmation letter from the IRS. Bring your Articles of Organization. If you’re a sole prop, you might just need your Social Security number, but having a formal business structure makes the process smoother.
🔗 Read more: Olin Corporation Stock Price: What Most People Get Wrong
Sometimes, the "public" offer on the Chase website is lower than the "targeted" offer you might find in your physical mailbox or through a specialized link. Before you click "apply," do a quick search on sites like Doctor of Credit or even Reddit’s r/churning. They track the historical highs for these bonuses. If the current offer is $300 but the $500 offer pops up every March, and it's currently February, it might pay to wait.
Actionable Steps to Secure Your Bonus
First, audit your cash flow. Make sure you can spare the required deposit (e.g., $2,000 or $20,000) for at least 90 days without risking your payroll or vendor payments.
Second, grab a screenshot of the offer terms when you apply. Chase is generally good about honoring bonuses, but having a PDF of the exact requirements you agreed to is your insurance policy if the tracking fails.
Third, set a calendar alert for 65 days after your deposit. Check your balance. Ensure it never dipped below the threshold. Then, set another alert for the 91-day mark to verify the bonus posted. If it hasn't, call the bank immediately.
Finally, keep the account open for at least six months. Use it for small, recurring business expenses to keep the "activity" look natural. Once you hit the 181-day mark, you’re free to move the money elsewhere if you find a better deal, but by then, you might find the Chase mobile app and their ecosystem are actually worth sticking around for anyway.
Moving your primary business banking is a pain. If you're going to do it for a bonus, make sure the math works in your favor after taxes and fees. If you follow the rules to the letter, it's one of the easiest wins for a small business owner's bottom line.