Chase Bank Checking Offer – $200

October 11, 2014 at 12:06 pm Leave a comment

Recently, Chase Bank has been sending out offers to set up a checking account with them and earn $200.  You have to get it in the mail from them to qualify, but I got this offer at least twice now and decided that the chance of earning $200 was worth looking closer.

Lets get the “Catch” out of the way, right up front:

This is a checking account that has a $12 monthly service fee, unless one of the following is true:

You have at least a $500 direct deposit going into the account
You have a $1500 or more minimum daily balance
You have an average daily balance of $5000 or more in any combination of linked deposit/investment accounts
You’ve paid $25 or more in qualifying checking-related services or fees

To get the $200 bonus, you have to have a direct deposit made within 60 days from your paycheck, pension, or government benefits.  After that’s happened, they will deposit the $200 in your account within 10 business days.

The only other “Catch” is that you need to have the account open for 6 months.  If it is closed prior to that, they take the $200 back when you close the account.  I’ve already added a reminder to my calendar for next May, so that way I know when it’s safe to close the account if I decide to get rid of it.  In that case, I’ll change my direct deposit, wait for the first payday that they don’t deposit the money in the Chase account, then go close the account right after.

Anyhow, should you choose to take Chase’s $200, your #1 priority should be to set up a regular direct deposit for a minimum of $500 per month, unless you happen to have $1500 or more to leave sitting in the account all the time.

Depending on how long it takes your employer to make changes to the direct deposit, you may end up having to pay a $12 fee, but certainly most employers should have no trouble making that change within a couple of weeks or so.

Chase has pretty standard banking fees, they charge you for checks, etc.  They do have nice technology though.  You can do most everything you need to via their smartphone app, including making deposits.  They do have ATMs around my city, so I can get cash out if I need to without having to pay a third party for the use of their ATM.  They also offer real ATM cards, if you ask.  I did, because I don’t want a debit card, due to the fact that a thief could drain your account, and then it’s up to the bank to fix things.  Do note that if you take their ATM card instead of their debit card, you can’t use other network ATMs, according to what they told me, only Chase ATMs.

One thing I do like about the Chase account is that a single web login gets me access to my two Chase credit cards and my Chase checking account.  With my Discover checking account, there’s a different login for the checking than the credit card.

You may think that juggling various accounts is too much trouble just for a bonus here or there, but I’m using YNAB to manage my money.  With it, I am confident that I can keep track of everything, move money around to where it is needed, and get everything handled.  All of my accounts are managed through a single app, so everything about my daily finance is in one place.  If you haven’t heard of it, take a look:  youneedabudget.com

Advertisements

Entry filed under: Uncategorized. Tags: , .

Discover Bank Checking – A decent deal TDBank – The best daily-use credit card offer I’ve seen!

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Trackback this post  |  Subscribe to the comments via RSS Feed


Calendar

October 2014
S M T W T F S
« Sep   Nov »
 1234
567891011
12131415161718
19202122232425
262728293031  

Most Recent Posts


%d bloggers like this: