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

One day left for this offer. Expires September 13, 2016.

There’s a banner link which is generating unique coupon codes to get a $500 bonus when opening a Chase business account. If you are considering doing the deal, grab a coupon using the direct link below. You don’t need to do the bonus now (you’ll have to go in-branch for that), just get hold of the coupon now while this lasts.

While you are in-branch, ask them if there are any targeted credit card offers under your name; these usually won’t have 5/24 limits to them. Many readers have gotten targeted offers for INK or other cards in-branch that weren’t affected by 5/24.

 

Offer at a glance

  • Maximum bonus amount: $500
  • Availability: Nationwide (must open account in branch)
  • Direct deposit required: None
  • Additional requirements: Deposit $500 in new to Chase funds and maintain that balance for 60 days
  • Hard/soft pull: Soft
  • Credit card funding: Not available when opening in branch
  • Monthly fees: $20
  • Early account termination fee: Bonus taken back if closed within six months
  • Expiration date: June 10, 2016 September 13, 2016

The Offer

Direct Link (login to Chase account required)

  • Get a $500 bonus when you open a Chase Performance Business checking account, deposit $500 in new funds, and maintain that balance for at least 60 days.

The system will prompt you to login to your Chase account, and the coupon will be displayed. Print out the coupon and bring it into a Chase branch to open up a business checking account and get this bonus.

You can use a personal Chase login or a business Chase login – both will work to generate the coupon. You can also generate more than one coupon (e.g. for a friend) by logging in a second time.

The Fine Print

  • Offer not available to existing Chase business checking customers and those who have closed accounts within the past 90 days
  • Bonus will post 10 days after all the requirements are met
  • Account must stay open for six months, otherwise, bonus is forfeit
  • Limit of one business checking bonus per calendar year (business and personal are separate so even if you got a personal Chase checking bonus, that shouldn’t affect your eligibility for the business bonus, or vice versa)
  • All bank account bonuses are treated as interest, as such you must pay taxes on them
  • The $500 deposit can not be funds currently held by Chase or its affiliates

Avoiding Fees

The Chase Performance Business Checking account has a monthly fee of $20. The only way to waive it is by maintaining qualifying business deposits of $50,000+.

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

Chase products basically earn no interest and keeping $50,000 in the account in order to waive the monthly fee isn’t a good option (see options for high-interest savings accounts here).

The better route here is to just suck it up and pay the $20 monthly fee. Usually, the first two months is waived for most bank accounts so hopefully you’ll just end up paying for 4-5 months. All-in-all, you should still net around $400 after around $100 in fees – still a sweet deal. Bear in mind that you’ll have to pay taxes on the full $500 so the actual net is less.

Keep in mind that you need to have a balance of $500+ for the first sixty days, so you’ll want to add more than $500 to the account initially to avoid it falling below $500 in case a monthly fee hits within those 60 days.

Numerous data points suggest that you can also downgrade the account after the bonus hits and keep the bonus.  The fine print says that if the account is closed you’ll forfeit the bonus so downgrading should work. Verify with a banker if you’re concerned.

There are varying reports on Reddit as to how strict Chase is with verifying your business credentials; some bankers are willing to open an account for your business even if you don’t have the official DBA papers on hand while others are stricter. See the official Chase rules here.

We’ve added this bonus to our list of the best business bank bonuses currently available. Also, check out this post to learn more about Chase personal coupons of up to $500 as well.

HT: solersurfer7 on Reddit
    Chuck
  • On September 12, 2016, 22:39

View Comments (172)

  • At @will @chucksithe the chase $500 is back

    $500 BONUS
    New Chase business checking customers open a Chase Total Business Checking account, deposit a total of $2,500 in new money within 20 business days of account opening, maintain that balance for 60 days and complete 5 qualifying transactions within 60 days – debit card purchases, Chase QuickDepositSM, ACH (Credits) and wires (Credits and Debits).

    Until 11/21

  • I did something incredibly stupid. I transferred money out of my account so that my balance was below the $500 that I needed to maintain for 60 days. I had a $500 balance for a month and $350 for the rest of this time. I am usually organized about keeping track of the bonus requirements. Somehow I overlooked it. So I likely threw away $500. I plan to bring the balance back up to $500 and keep it for 60 days and then call the banker that opened the account. I know this probably won't work but I'm going to try since I have nothing to lose.

  • Got a $300 Biz mailer today. Expires 6/12/17.

    Any word of $400 or $500 mailers floating around lately?

  • If someone got the $500 business offer or even the $200 business offer and won't be using it, I'd really appreciate it if you could take a screen shot and email it to me: dar1ene at icloud.com (that's the number one instead of the letter "L" in darlene). I am leaving for Seattle on 2/22- 2/27/17 where they have Chase banks. We don't have them in Hawaii so this is my only chance. Thanks in advance for your help!!

    • I got one in the mail. Tried a branch and they wanted a dba, even though I do business under my legal name. I'm going to try a second ranch, if they give me the same issue I'll send you my coupon. Bear in mind it expires on the 28th of feb

      • Same thing happened to me. I don't have a dba so I brought my schedule C. I'm going to try a different branch tomorrow before it expires.

        • Do either of you have a business license or resale certificate for your state? Sole Prop should not require a DBA.

          • I don't legally need a dba because I don't do business under anything other than my legal name. I only sell on eBay and Amazon. The rep didn't understand that. I think he was just repeating a requirement he thought was necessary. Oh well my coupon expires tomorrow.

          • No I don't. It's a sole prop and a legit business. PayPal sends the 1099-K and I have to file a schedule C and pay taxes on it. Maybe she was misinformed or was looking for an excuse not to have to open the account since I got there at 5:30 and they close a 6. The last time I opened a checking account there it took about an hour.

  • I just got a mailer for $500, expires in March 2017, I hope all the DPs are accurate, I'm gonna go for this one!

  • I have a small quandry: Got the $500 bonus after meeting the requirements on biz checking acct opened Aug. 1. Tomorrow will be six months (actually 185 days), and I am planning to close the account. Have $100 sitting in it now pending monthly service charge likely to hit Feb. 4 or so. Maybe after the weekend. First couple of service charges waived, and I've paid two ($20 each) since then, decided not to get tricky and downgrade the account type. Is it wrong of me to withdraw the balance and close before another fee hits? Should I just let them have the $20 as a parting gift to avoid annoying the biz banking officer who did the paperwork to open the account? First churning world problem, I know.

      • Thanks for the quick reply. I think I'll play the long game and let the $20 fee hit, withdraw the rest of the balance and close it. I like 100% no issues better.

  • Within the next 2 weeks will be opening a biz checking account, preferably with Chase. Hope to see the return of this bonus. Do you get any hints from "inside channels" on when they bring this back?

  • Data Points:
    8/26 - Opened account / funded w/$500
    11/1 - $500 bonus received
    11/2 - messaged to downgrade to Total Business Checking

    • Anyone opened your account after the expiration date got the bonus? My account was opened on Sept. 14 (1 day after the coupon expiration date) and funded with $500. I still haven't seen the bonus yet. I did have a tracking number sheet regarding the bonus offer application.

      • I opened my account sept 12 and funded with 500 bucks of new money about 7 days after. And i got the 500 bonus today. btw, If you want you can call up the bank u opened the account and speak to the banker that helped you open the account. he'll look up your account and tell you when exactly you'll get the bonus

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