Chase is offering a huge bonus of $1,250 when you upgrade your account to Chase Private Client. This account needs a balance of $250,000 or more, so this is not a deal for everyone. This Chase Private Client bonus is available until 9/28/2019. I received the offer by mail, and it includes a unique code that you need to show in branch.
Save time and money with better banking benefits and special services, plus a $1,250 Welcome Bonus. Hereʼs how to get started:
- Meet with a Private Client Banker by September 28, 2019 to upgrade your account to Chase Private Client.
- Within 45 calendar days, transfer a total of $250,000 or more in new money to a combination of eligible checking, savings and/or investment accounts, and maintain the balance for at least 90 days.
- Receive $1,250 within 10 business days.
The account has no fees, but you need to maintain the $250,000 balance. Otherwise, you will be downgraded to another Chase account.
- Offer not available to existing Chase Private Client customers.
- Ineligible accounts: any You Invest accounts, Certificates of Deposit, insurance products; fixed and variable annuities; 529 College Savings Plans; any retirement accounts such as Traditional and Roth IRAs, Keogh, Simple IRAs, and 401(k) Plans.
- After you have completed all the above requirements, we will deposit the bonus in your existing Chase Private Client Checking account within 10 business days.
- The Annual Percentage Yield (APY), for Chase Private Client Checking effective as of 01/22/19 is 0.01% for all balances in all states. Interest rates are variable and subject to change. Additionally, fees may reduce earnings on the account.
- You can only participate in one Chase Private Client Checking, Sapphire Checking or You Invest new money bonus in a 12 month period.
- Coupon is good for one time use.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
- Account must be kept open for 6 months, otherwise bonus could be taken back.
- This bonus will be considered as interest, so you have to pay taxes.
Not the best deal for someone that has this kind of money. You Invest accounts would have been a good option to meet the balance requirement. But are excluded in the terms of the offer. If you keep the $250K in the account for exactly three months, you get a 2.00% return. Not very exciting. There’s other high yield accounts out there that will get you a better rate without the balance requirement.