[Expired] Chase Sapphire Banking, Get $1,000 Bonus for Upgrade or New Account

Chase Sapphire Banking $1,000 Bonus

Chase Sapphire Banking is a fairly new banking product from Chase. Both new customers and those who upgrade an existing Chase account can now get a $1,000 bonus. This is the best bonus they have offered for this account. We have previously seen offers for $750 or 60,000 Ultimate Rewards points.

New Account Offer

Start with these three steps to get your $1,000 bonus:

• Open now or meet with a banker to open an account by 04/27/2020
• Within 45 calendar days, transfer a total of $75,000 or more in qualifying new money or securities to a combination of eligible checking, savings and/or investment accounts, and maintain that balance for at least 90 days.

Your $1,000 bonus will be deposited into your Chase Sapphire Checking account within 10 business days.

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Upgrade Offer

Start with these three steps to get your $1,000 bonus:

• Meet with a banker by 04/27/2020 to upgrade to a Chase Sapphire Checking account.
• Within 45 calendar days, transfer a total of $75,000 or more in qualifying new money or securities to a combination of eligible checking, savings and/or investment accounts, and maintain that balance for at least 90 days.

Your $1,000 bonus will be deposited into your Chase Sapphire Checking account within 10 business days.

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Eligibility

• You can only participate in one Sapphire Checking, Chase Private Client Checking or You Invest new money bonus in a 12 month period.
• Customers must have a Chase Sapphire^® or Chase Freedom^® credit card that is open and not in default at the time of enrollment and at points fulfillment, and be the primary cardmember on the account.
• Offer not available to existing Chase Sapphire Banking and Chase Private Client customers.

Fees

There is a $25 Monthly Service Fee for Chase Sapphire Checking OR $0 when you have an average beginning day balance of $75,000 or more in any combination of this account and linked qualifying deposits/investments.

Other Chase bank bonuses require you to keep the account open for 6 months. But for this bonus, there’s no time limit mentioned. It could be worth checking before closing the account, or just keep it opened for 6 months until we see data points that show otherwise.

Guru’s Wrap-Up

This Chase Sapphire Banking $1,000 bonus is huge. But you need to deposit a large amount, $75,000, and keep it in there for 90 days. Investment and savings accounts are also eligible, so those could be better options than just a checking account. The best way to go would be to get this $600 bonus first and then do the upgrade offer.

Terms also state that the bonus may be reportable to you and the IRS on Form 1099-INT. You can read more here about what to do when tax time comes around.

Bank bonuses are a great way to earn some extra income, often from the comfort of your home. You can take a look at my bank bonus results for 2022 where I made over $6,000. 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.