Up to a $750 bonus with Chase Business Checking (no direct deposit required)

When it comes to bank account bonuses, Chase is one of our bestest buddies around, running frequent incentives on both the personal and business side.

Chase has again extended a good offer for new Business Checking enrollments. There are two options: get a $300 bonus on total deposits of $2000-$29999 or a $750 bonus for $30K+. The money only has to remain in the account for ~30-35 days, making this a terrific yield.

The noteworthy part of this offer is that it is fairly easy: no direct deposit requirement and a very low activity threshold. But the trade-off is that the deposit requirements are a bit high.

The Deal

• Chase is offering the following bonuses after opening a new business checking account and making qualified total deposits of:
  • $300 after $2,000 in total deposits
  • $750 after $30,000 in deposits
• Money must be deposited within 30 days of enrollment and remain in account until 60 days after enrollment
• Offer Expires: 1/16/25

Direct Link to Offer

• In order to apply in branch, you must first get an offer code from the link above.
• For online applications, offer code applies automatically.

To receive the business checking bonus:

• Open a new Chase Business Complete Checking account online or present this offer at your local Chase branch.
• Deposit a total of $2,000 or more in new money into your new qualifying checking account within 30 days from offer enrollment. The new money cannot be existing deposits at Chase or its affiliates. Your new money deposit amount will be determined in the following manner at 30 days from offer enrollment:
  • Business checking offer amount $300. New money deposit amount $2,000 – $29,999.
  • Business checking offer amount $750. New money deposit amount $30,000 or more.

• Maintain the new money of at least $2,000 in the new checking account for at least 60 days from the offer enrollment. If new money deposit amount decreases below the threshold during the 60 day period, your offer amount may change or your checking account may no longer qualify for the offer.4) Complete 5 qualifying transactions within 90 days of offer enrollment. Qualifying transactions are: debit card purchases, accepting credit and debit card payments with QuickAccept^® Chase QuickDeposit℠, ACH (Credits), wires (Credits and Debits), Chase Online℠ Bill Pay. ACH (Debits), Person to Person payments such as Zelle^® and online transfers to Chase credit card(s) are not considered qualifying transactions.
• After you have completed all the above checking requirements, we’ll deposit the bonus into your new account within 15 days. Offer is good for one-time use.

Key Terms and Conditions

• Checking offer is not available to existing Chase business checking customers, local, state or federal government entities or agencies, Not for Profit organizations, Political Action Committees, or those with campaign accounts, or whose accounts have been closed within 90 days or closed with a negative balance within the last 3 years.

• You can receive only one new business checking account opening related bonus every two years from the last enrollment date and only one bonus per account.

• There is a $15 Monthly Service Fee (MSF) that we’ll waive if you meet any of the below qualifying activities for each Chase Business Complete Checking℠ account in a monthly statement period. Qualifying activities for how to avoid the MSF: (A) Maintain a linked Chase Private Client Checking℠ account, (B) Meet Chase Military Banking requirements, or (C) Fulfill at least one of the following qualifying activities: (1) Maintain a Minimum Daily Ending Balance of at least $2,000 in the Chase Business Complete Checking account each business day during the monthly statement period, excluding the last business day of the statement period; (2) Have at least $2,000 of aggregate eligible deposits (net of chargebacks, refunds, or other adjustments) into the Chase Business Complete Checking account, at least one day before the end of the monthly statement period, using one or more of the following: Chase QuickAccept℠ including Chase Smart Terminal℠, InstaMed Patient Payments and InstaMed Patient Portal and/or other eligible Chase Payment Solutions℠ products. Eligible deposits must be made from Chase Payment Solutions associated with the same business as your Chase Business Complete Checking account, as reflected in Chase records. The cutoff time for eligible deposits is 11:59 PM Eastern Time one day prior to the last day of your Chase Business Complete Checking monthly statement period; or (3) Spend at least $2,000 on eligible Chase Ink^® Business card purchases in the most recent monthly Ink card billing cycle, which may be different than your Chase Business Complete Checking monthly statement period. Eligible purchases must be made using Ink Business Card(s) associated with the same business as your Chase Business Complete Checking account, as reflected in Chase records, and must earn Chase Ultimate Rewards^® points.

Quick Thoughts

Based on how I read the terms, you only have to leave the money in the bank for 35 days or so to get the bonus. This is because you have to deposit within 30 days and leave it for 60 days…both dated from enrollment. So, you could transfer the money in at day 25 or so and then transfer it back out at day 61 and still meet the terms. It’s also worth noting that sole proprietorships under an individual’s SSN are eligible as well.

The $750 bonus is ok, but not as good as the $750 Business Checking offer that we saw at the end of 2021. That one offered $750 for maintaining a $10,000 balance for 2 months and completing 25 qualifying transactions. While the transaction threshold for this new offer is only 5, the balance necessary to get to the $750 bonus is tripled to $30,000.

The other public offer of $300 for a $2000 deposit is decent. The $300/$2000 bonus effectively gives you 15% back for parking your $2k in Chase’s hands for 30-60 days. By the same rationale, the $750/$30,000 bonus is paying 2.5% of the total during the same period…although that still works out to an almost 30% annualized rate.

The nice thing about this set of offers is that it’s about as easy as a bank account bonus can be: no direct deposit requirement, only 5 transactions on the debit card to make it work and you can stay fee-free by leaving the $2k in the account or by spending $2k/month on an associated Ink Card…AND you can sign-up online.

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