[Expired] Chase Business Total Checking $500 Bonus – No Direct Deposit Required

Deal has expired, view more checking bonuses by clicking here

Update 1/9/2020: Deal has been extended until 4/16/2020

Update 11/21/19: Extended until 01/23/2020.

Update 11/13/19: Previous link had expired, but reddit user sefinadebelu has found a new working link. New end date is January 23rd, 2020. Always a good idea to send yourself a coupon as those can be used even after the link to generate them dies.

Offer at a glance

• Maximum bonus amount: $500
• Availability: Nationwide (not truly nationwide as not all states have branches)
• Direct deposit required: No
• Additional requirements: Deposit $2,500 & maintain it for 60 days. Complete five qualifying transactions
• Hard/soft pull: Soft
• ChexSystems: No
• Credit card funding: Not available when opening in branch
• Monthly fees: $15, avoidable
• Early account termination fee: Six months, bonus forfeit
• Household limit: None
• Expiration date: November 21, 2019 01/23/2020

The Offer

Direct link to offer

• Chase is offering a bonus of $500 when you open a new Chase Total Business checking account and complete the following requirements:
  • Deposit $2,500 in new money within 20 business days & maintain that balance for 60 days
  • Complete five qualifying transactions within 60 days of account opening. Qualifying transactions are:
    • Debit card purchases
    • Chase QuickDeposit
    • ACH (Credits)
    • Wires (Credits)

The Fine Print

• Checking offer is not available to existing Chase business checking customers, local, state or federal Government entities or agencies, Not for Profit organizations, Political Action Committees, or those with campaign accounts, or whose accounts have been closed within 90 days or closed with a negative balance.
• To receive the business checking bonus:
  • 1) Open a new Chase Total Business Checking®, Chase Performance Business Checking® (or Chase Performance Business Checking® with Interest) account or Chase Platinum Business CheckingSM account, which is subject to approval;
  • 2) Deposit a total of $2,500 or more in new money into your new checking account within 20 business days of account opening; and
  • 3) Maintain at least $2,500 balance for 60 days from the date of deposit. The new money cannot be funds held by your business at Chase or its affiliates.
  • 4) Complete 5 qualifying transactions within 60 days—debit card purchases, Chase QuickDepositSM, ACH (Credits), wires (Credits and Debits).
• After you have completed all the above checking requirements, we’ll deposit the bonus in your new account within 10 business days.
• You can receive only one new business checking account opening related bonus every two years from the last enrollment date and only one bonus per account.
• Employees of JPMorgan Chase Bank, N.A.and our affiliates are not eligible.
• Bonuses are considered interest and may be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Chase Total Business Checking has no monthly fee when you maintain a daily minimum balance of $1,500 or more. Otherwise a $15 Monthly Service Fee will apply ($12 Monthly Service Fee when enrolled in Paperless Statements). This is the easiest account to keep fee free.

Other ways to waive the fee: if you maintain a linked Chase Private Client Checking or Chase Premier Platinum Checking personal account or if you are military/veteran. Reports indicate that Chase usually waives the fee for the first couple months.

Early Account Termination Fee

Accounts need to be kept open for a minimum of six months; otherwise, the bonus will be forfeited.

Our Verdict

The standard offer is $300, requirements are basically the same but this $500 bonus requires a $2,500 deposit instead of only $1,000. This $500 bonus is still significantly better in my opinion. Unfortunately you’re not eligible for this bonus if you’ve received a Chase business checking bonus within the last two years (I believe the timer is based on when you last signed up for an account), so a lot of readers will be ineligible. If you are eligible I do think this bonus is worth doing as the last $500 public bonus was offered way back in 2016 and that required the performance account that is harder to keep fee free. Because of that I’ll add it to the list of the best business checking bonuses. I’d also recommend e-mailing yourself a code, as I think Chase will definitely pull this offer early (and maybe even within the first 24 hours).

If you go in branch to open this account, it’s also worth asking if you have any pre-approved credit card offers, as these by pass the Chase 5/24 rule (more on these offers here). Can also do the Chase $600 checking/savings personal bonus as well. You might not need to open in branch either, with the personal bonus it has been possible to use the promo code that is e-mailed to you during the online sign up and the bonus has triggered but YMMV.

Hat tip to reader Brian C

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times