New Chase $500 Bonus for Checking and Savings Accounts

November 30, 2020

🛑 This offer has expired. See the full list of available bank bonuses here.

Chase $500 Bonus for Checking and Savings Accounts

Chase is offering a $500 bonus for new banking customers. You need to open a checking and a savings account by 01/15/2021 to get the bonus. $500 is generally a great bonus, but this is less than the usual $600 bonus that Chase has offered for a long time now, and there even was a $900 targeted offer available recently.

Offer

The offer gives you a $600 total bonus, but it comes in two parts that can be done separately. You’ll receive $300 for opening a checking account, $200 for a savings account, and an extra $100 if you do both.

GET $200 for new CHASE TOTAL CHECKING account when you set up Direct Deposit within 90 days.
GET $200 for opening a new CHASE SAVINGS account, bydepositing a total of $15,000 or more in new money within 10 business days, and maintaining a $15,000 balance for 90 days.
OR get $600 for both (an extra $100)

Offer expires 01/15/21.

Eligibility

Checking offer is not available to existing Chase checking customers, those with fiduciary accounts, or those whose accounts have been closed within 90 days or closed with a negative balance. You can receive only one new checking and one savings account opening related bonus every two years.

Most likely you need to have a Chase branch in your state in order to be eligible, even when applying online. Check the branch locator here.

Fees

Both the checking and the savings account comes with monthly fees, but can be waived.

Chase Total Checking has a $12 Monthly Service Fee that is waived when you do at least one of the following each statement period:

Have monthly direct deposits totaling $500 or more made to this account; OR,
Keep a minimum daily balance of $1,500 or more in your checking account; OR,
Keep an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings and other balances.

Chase Savings has a $5 Monthly Service Fee that is waived when you do at least one of the following each statement period:

Keep a minimum daily balance of $300 or more in your savings account; OR,
Have at least one repeating automatic transfer of $25 or more from your Chase personal checking account (available only through Chase Online Banking); OR
Have a linked Chase Premier Plus Checking, Chase Premier Platinum Checking, or Chase Private Client Checking account.

Guru’s Wrap-Up

We normally see a $500 bonus from Chase with the same requirements, so this is $100 less. It is available online so most people can apply.

The Checking part is the easiest bonus to receive. You will receive a $200 bonus for opening a checking account and completing a direct deposit of any amount. Simple as that. The $200 savings bonus on the other hand comes with a 15K deposit that you will have to keep it in the account for at least 90 days. Worth doing since you also get the extra $100 for opening both accounts. It’s up to you if you want to wait for a possible $600 bonus once this one expires, or just go for it now so you can become eligible again in two years.

If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.