Update 1/15/22: Back again, this time a public bonus and maximum is $625. This is also now a referral bonus, person who refers gets $50. Do not share your links in the comments.
The Offer
- JP Morgan Self-Directed (formerly Chase YouInvest) is offering a bonus of up to $625:
- Fund $25,000 – $99,999 and get a bonus of $125
- Fund $100,000-$249,999 and get a bonus of $300
- Fund $250,000+ and get a bonus of $625
The Fine Print
- Valid until 7/10/21
- Funds have to be maintained for 90 days and added within 45 days of account opening
Our Verdict
Previously this has been as high as $725. Interesting that they have changed the branding for this account, guess they are trying to go more high end with the JP Morgan branding rather than Chase.
Hat tip to readers evening_tourist & Chase-ing UR points
Not sure which Chase thread to post in. The public link has 3 tiers https://account.chase.com/consumer/investing/self-directedoffer
$125/$25k
$300/$100k
$625/$250k
but I just got an email with 5 tiers
$125/$25k
$300/$100k
$625/$200k(not $250k)
$1200/$500k
$2500/$1M
Payoffs are just average, but holding period is short for Chase.
I opened the account smoothly as I had an existing checking account with Chase. Then when I tried to do a partial account transfer from Fidelity, Chase said online partial transfer was not available. Only full account transfers. I then tried with Etrade and Merrill Edge. The same thing. No partial account transfer is allowed. Only full transfers. For partial the only option is a pdf form that you download. This is a very long form of 7 pages. What makes it worse in terms of time consumption is that the form after it has been filled must be verified by a Public Notary. I think I’m going to pass. I wish they had online partial account transfers available. Also they charge $75 for any future partial or full account transfer.
I just posted in another Morgan/Chase brokerage bonus thread https://www.doctorofcredit.com/chase-you-invest-bonus-200-625-bonus-with-25000-250000-investment-account/#comment-1323352
I’ve done lots of brokerage bonuses, and find the ACATS process pretty straightforward typically. But with this brokerage it’s a mess. How did people even bring in assets (investments not cash)?
Thanks for the warning. Looks like an avoid for now if ACATS, especially partial account transfer, is as broken as you said it is. I was thinking of the Chase Private Bank offer for $2k as well, but would have needed an ACATS to meet the requirement. Most likely it’ll use the same system, so no go for me.
For the CPC bonus, I opened a full service brokerage account, which has an advisor (but still lets me control everything, and no annual fee), and he took care of submitting the ACATS forms for me (after I sent him statements from my brokerage accounts and told him which stocks I wanted to transfer); I signed the forms online via docusign. So it wasn’t that bad.
It was a hassle, but I did manage to get it funded. Maybe they’ll fix the glitches.
When the account opened, I got an email saying the deal was a bit better for Preferred Rewards members with an Advantage checking acct. The email, in the small text, also references the up to $600 bonus for non-members, and gives some instructions on how to qualify.
Text:
To earn your reward of up to $1,000 for being a Preferred Rewards client and for opening a Merrill account, invest cash and/or securities from accounts held outside of Merrill and Bank of America within 45 days and hold it in your account for at least 90 days.
The more you invest, the more cash you’ll get: $100 for investing $20,000; $200 for investing $50,000; $400 for investing $100,000; or $1,000 for investing $250,000.
Your comment refers to the Merrill Promo. This page is for the JP Morgan promo
About a year ago I tried this, frankly its awful for anything but basic trades.
$75 fee to transfer money out ther goes my bonus.
I’ll pass
Where’s the public bonus? I don’t see it a link to it on here or their site.
https://account.chase.com/consumer/investing/self-directedoffer
Today I went to chase.com and it showed me the offer (clicking the button went to the link that K8000 posted, though with some extra stuff at the end of the URL). But later when I go to chase.com it shows a credit card offer instead; probably just shows a random offer each time you load the page.
But better to use someone’s referral link (if the offer for the referred person is the same), except the page to get referral links doesn’t seem to be working right now.
Note that the screenshot DoC posted is from an old offer with different amounts; the text he wrote about that has the new numbers.
Thanks Chuck. I sent Chuck/Will an email on the revised offer. Small correction: it’s not a public offer. You can get targeted, referred, or use a blogger that has the offer. Both TMN and MC have a link to the offer without a referral.
https://themoneyninja.com/chase-investing-600-bonus/
https://www.moneycrashers.com/you-invest-jp-morgan-review/
I did this when it was $600 and the bonus posted in the time stated in the deal.
Is the page to get your referral link working for anyone? I entered my info and it gives an error like it can’t find my account: “Please make sure you’re entering your last name, ZIP code and last four digits of your J.P. Morgan Self-Directed Investing account.”
I contacted Chase about the page to get the referral link not working, and they told me: “CPC clients are currently unable to refer customers. This is a feature that is coming in the near future for CPC clients.”
The page to generate a link is working for me now.
Targeted offer is back, valid until 10/10/2021, the other details have not changed. Both my spouse and I had a joint You Invest account in the past and had similar Chase credit cards, but only I received the email.