$100 For Opening Chase Checking Account

Who couldn’t use an extra $100 these days? Chase is giving $100 if you open a new Chase checking accounts. Just go here, enter an email address, take the coupon they send you to a nearby branch, and open a new checking account. Of course, there are a few caveats: 1) You have to deposit $100 into it. 2) The $100 can’t come from another Chase account or an affiliate. 3) Within 60 days, you have to either make 5 debit card purchases, or set up direct deposit. 4) You have to keep the account open for 6 months or they take the $100 back. 5) If you don’t set up direct deposit and you don’t make at least 5 debits a month, you get hit with a fee. Still, a hundred bucks is a hundred bucks.

Official Site [Chase]


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  1. scubachris says:

    You also have to keep the account open for 6 months or they take the money back.
    Also, if you don’t keep the direct deposit set up or make 5 debit card purchases a month they hit you with a service fee.

    • zlionsfan says:

      @scubachris: Yeah, I saw all that when I got the offer in the mail, and I tossed it.

      To me, giving Chase my email address, $100 of my money, and the opportunity to mess up either the debit-card purchases or the eventual withdrawal/account-closing process … that is a pretty high barrier.

      I was glad to see a number of readers haven’t had any problems with this offer, and I hope that continues for them. It’s just not a chance I was comfortable taking.

  2. catnapped says:

    Of course you need to realize:

    1) They’ll likely pull a credit report

    2) There’s probably fees and gotcha in the fine print

    3) That $100 is taxable income they’re definitely going to report

    4) Chase is scumbag-dirt

    • frodoUnderhill says:

      Agreed, Chase sucks and is not worth $100 dollars of your time.

    • PeterBetts says:


      1. The credit report is something I was thinking too, but it might just be ChexSystems.

      2. There is a $6.00 minimum fee (for the lowest tier checking) if a direct deposit is not set up, or you have to make a minium of (5) debit transactions per month. As I said below, the account has to be open for (6) months so (30) debit transactions.

      3. Yep, as stated in their fine print, the $100.00 will be reported to the IRS.

      4. Nail, meet head.

      • RandomHookup says:

        @PeterBetts: True, you need to read the fine print on these things to make them work, but there is a way to make it profitable:

        1) Don’t buy their checks — say you are getting them somewhere else

        2) Set up a small direct deposit from work (assuming it doesn’t cause any problems) – $10 or $20 a pay period might do it – and treat it like a savings account. Perhaps save up for some of the after-Christmas sales.

      • Dethzilla says:

        @PeterBetts: If it’s not $600 it’s not taxable.

    • Nicholeigh says:

      @catnapped: I got a mailer like this for $125 for opening an account. I have recently checked my credit and there was not an inquiry from Chase. Also, I have not had any funky fees or anything else show up. Granted they do want you to either have direct-deposit or a minimum number of charges per month. But really, big whoop. I appreciated the $125 and I have not had any problems with their service as of yet. Much better than my previous bank.

    • Skaperen says:

      @catnapped: 5) Mandatory Binding Arbitration.

      They can change the terms at any time, screw you over, and you cannot sue. They will just take the case to their arbitration partner that considers the partnership worth keeping for all the business it brings in (because they are screwing over a lot of people).

    • Lcstyle says:


      Chase *IS* scumbag dirt.

  3. PeterBetts says:

    I know a lot of banks use ChexSystems or a comparable program when opening up checking/savings accounts. It is my understanding that this is not a hit on a credit report but rather a different, exclusive report. Would I be correct?

    Who here thinks this offer is worth doing? I do not have a branch near me, but I will ass-u-me that this offer will be honored online as well.

    The fine print also states that the account has to remain open for 6 months or the credit will be revoked.

  4. Red_Eye says:

    DONT DO IT! My wife is currently working on closing all of her former WAMU account now become chase. She recently deposited a large sum local business check (written against B of A) and they put a hold on it for 9 days, now mind you my wife has been with WAMU for 12 years!

    Dont bank with Chase. Trust me you will not be happy.

    • floraposte says:

      @Red_Eye: They do that here with my credit union all the time. I don’t think this is Chase specific.

    • miss_roxxan says:

      @Red_Eye: if it was a large check, this is totally standard. i’ve had it happen on a couple of large checks. once with bank of america (and the check was even a cashier’s check!) and once with WAMU, so it isn’t something that is specific to Chase.

      • Skaperen says:

        @miss_roxxan: Just because there are also other banks bad enough to avoid does not mean it’s OK to bank at Chase. Find a small local bank.

  5. pop top says:

    Is it really a free $100? I was under the impression that you had to pay it back if you used it (one of my friends was sent to collections over a similar promotion).

  6. bikeoid says:

    >you have to either make 5 debit card purchases

    Ah, the old ‘debit card purchases with a signature as credit’, which forces the merchant to pay Citi exorbitant fees for each transaction.

    • wcnghj says:


      Cost of a debit transaction with a simple merchant acocunt setup with a PIN used: 19 cents. Citi Probably gets 5 cents.

      Cost of a debit transaction processed as credit: 1.09%, citi probably gets .25% and the network(V/MC) probably gets .15%.

  7. ahwahoo2006 says:

    Too bad theres not a Chase within 50 miles of me.

    • flapjackfx says:

      @ahwahoo2006: It looks like this offer works for online accounts as well.

    • bornonbord says:

      @ahwahoo2006: Wow, I envy that. You can’t go more than 3 ft in Chicago with out bumping into a Chase bank or ATM and their awesome $3 fees.

    • Skaperen says:

      @ahwahoo2006: Consider yourself lucky. There might actually be a decent locally owned and operated bank near you. Most of those banks are actually doing well while the national banks are failing, because they didn’t blow their credit offerings based on greed. And these banks know that a bad reputation can hurt them more severely. Ask around and find out what banks have what reputation.

  8. PinkBox says:

    This is only good if you actually want to use them as your main bank. $100 isn’t worth having to make five debit purchases a month for six months on a non-primary account. :/

  9. Snarkysnake says:

    Something for nothing. That’s what lures in the suckers.

  10. NotChoinski says:

    Um, High-yeils savings accounts are probably still better. Mine gets 2.00% on a minimum $1000 deposit.

  11. Anonymous says:

    Does anybody know if this can be used with opening the “College Checking” account (with no fees as long as you´re in school)?

  12. jeteplumererie says:

    wow- they made this offer a year ago when I was shopping around for a new bank, and the offer was $125. I enrolled in direct deposit, and have no complaints. well, yet. but has anyone actually signed up for this and had a bad experience?

  13. militarydave says:

    I did this whem WaMu offered a similar deal back in late 2007. they did credit me $100.00, but it was after the 5 debit card (not credit, you have to use your pin) went through and cleared the bank. I started with Sumitomo Bank, which then became Great Western Bank, which then Became WAMU, which then became, Chase.

    They do run a credit check (in person or online), asking you if you’ve lived in a certain address in the previous 10 years, what kind of car you have purchased and how much is your monthly payments.

    I would beware however, about their ridiculous service fees. before they (wamu) officially become CHASE, I am cancelling my account. stick with a better bank, or credit union. Remember, “Free” money always has a catch to it.


  14. Will Halderman says:

    Ditto. I’ve been a wamu client since I was 9 and now that I’m switching to chase my card rarely works with them. They’ve been slack to send me a new chase card even though I keep asking and the service fees are ridiculous. Stick with a credit union…it’s better in the long run.

  15. dbshaw says:

    Its basic business math. If Chase is giving $100 to get your business, it means they’re pretty confident that they’ll be making more than a $100 off of you.

    So translation: Chase offers to charge you more than $100 in fees within 6 months.

  16. seeker1321 says:

    Keybank is also giving away a free Ipod nano with a new student checking account.

  17. engstewart says:

    Wow- I hate to be disagreeable, but I did this promotion about 8-9 months ago when the offer was for $200. I set up a direct deposit of $25 out of each paycheck (every two weeks). I’ve never had a problem, never had a fee, received the $200, and it’s not my primary account (another bank is). I don’t see any problem with pursuing this, at least in my experience. It’s helped me form a nice little Christmas fund…

    • jackal676 says:

      @engstewart: Same here. I got the $200 with no problems. I took the option of using their online bill paying to pay two bills a month. I pay $1 on my electric bill and $1 on my cell phone bill each month through that account, and I’ve never been hit with a fee for anything.

  18. CorrieCJ says:

    I signed up for a similar promotion with Chase about a year ago (it was $125 or $150 if I recall). I had no problems with it – most of my paycheck is direct deposit with HSBC but I funnel a small amount into Chase to satisfy their requirement. Right now, however, I’m angry with Chase… back in November they had a promotion where you could get $10 if you paid two insurance bills with your debit card using online bill pay. I satisfied all the requirements and they refused to cough up the $10 telling me first that I didn’t make the required payments, and then, when I sent them dates and confirmation #s, telling me I never “registered” for the promotion (I had, but of course did not have a screenshot). Oh well.

  19. vladthepaler says:

    Wasn’t there a post just yesterday about Chase sucking? And now you’re advertising for them. You might at least link the various negative reports on Chase that this site has posted, or list among the caveats: 4. You have to do business with Chase.

  20. starrion says:

    You know when people ask about how you like your local Credit union?

    They have my checking, my savings, our mortgage and a nice low-interest credit card. I’ve never had a problem cashing a check. Their customer service phone center is staffed with actual Americans who are interested in helping you resolve your issue and are empowered to do so. And will.

    So Chase: You can take your $100 and stuff it so far up your Six that you have to cough it out again. Fark you, Fark your $100 and Fark your thrice-damned credit cards.

    That is all.

    • Dethzilla says:

      @starrion: By American you mean non-broken english speaking. Some Americans don’t speak English. don’t hate. Glad you like your credit union too.

      • starrion says:

        By actual Americans, I meant people who can speak the language they were hired to speak when working customer service. That would include the Spanish speaking Americans and the Cambodian speaking Americans too.

  21. adamczar says:

    I did this about 1.5 years ago, and have had no problems except one VERY minor one… if you plan to just transfer the money out into another account each time you get a paycheck, don’t do it, they charge you fees. Instead, find the cheapest checks you can order and use those (I got some for $5). Or, just use it as your primary checking account for 6 months.

    Great deal if you’re willing to do a little paperwork and need $100.

  22. Blueskylaw says:

    I would think that if you don’t activate direct deposit or do 5 purchases then you just wouldn’t get the $100 but they would still keep you as a customer.
    But Chase has to spoil the party and start introducing fees so early in the relationship.

  23. grandzu says:

    I did a similar promotion but it was $150 about 4 months back. No problems so far.
    Plus with Chase ATMs you don’t need an envelope for checks or cash, and you get a copy of the check on the ATM receipt.
    Get the $100 offer but don’t use it and they will keep upping the amount.

  24. barb95 says:

    All banks take your money. Sigh. I’m missing the days of Cal Fed.

  25. sam1am says:

    They’ll pay you $100 and send you enough advertisements to heat your home next winter!

  26. ern says:

    it is true i work there people come in everyday with the coupon and they always get the 100 dollars after they meet account opening. it wouks all day no catch. do not let top hat discourage you from doing it you can email me at erniesdsu2000@yahoo.com if you have questions or for an appointment