Snag a $400 Bonus from Chase with This Simple Checking Offer

If you've been thinking about switching banks or just want a little extra cash for a few minutes of work, Chase is running a solid deal right now. Open a new Chase Total Checking account, set up direct deposits totaling at least $1,000 within 90 days, and they'll hand you $400. No tricks, no gimmicks — just straightforward cash for moving your paycheck over. Let's break down what you need to know.

What You Actually Need to Do

First things first: you need to open a new Chase Total Checking account. You can do this entirely online or walk into a branch — whatever's easier. Once the account is open, the main hurdle is making sure at least $1,000 in direct deposits land in that account within 90 days from when you enroll in the offer.

Chase defines a direct deposit pretty strictly here. We're talking about your paycheck, pension, or government benefits like Social Security. Things like writing yourself a check, using Zelle, transferring money from another bank account, or depositing cash won't count. So if you're planning to just shuffle money around, that won't work. You need the real deal — an electronic deposit from an employer or government agency.

Once you've hit that $1,000 threshold, Chase says you'll see the $400 bonus in your account within 15 days. Just make sure your account is still open and in good standing when that payout happens.

Don't Let Fees Eat Your Bonus

Chase Total Checking normally comes with a $15 monthly service fee. That might sound annoying, but there are several easy ways to avoid it entirely. The best part? New accounts don't get charged that fee for at least the first two statement periods anyway, so you have some breathing room.

Here are your options to waive the fee ongoing:

Also worth noting: there's no early account termination fee. So if you decide this account isn't for you after you get the bonus, you can close it without penalty. Just be aware of the two-year rule — you can only get one new checking bonus from Chase every two years from your last offer enrollment date.

• Have at least $500 in electronic deposits each month (your $1,000 direct deposit for the bonus will cover this)
• Keep a minimum daily balance of $1,500 in the account
• Maintain an average daily balance of $5,000 across linked Chase accounts and investments
• Link to a qualifying Chase checking account

A Few Fine Print Gotchas

This offer isn't available if you already have a Chase checking account or if you've closed one within the last 90 days (or had one closed with a negative balance in the last three years). Also, Chase limits you to one checking bonus every two years from the date you last enrolled in an offer. So if you've snagged a Chase bonus recently, you might be out of luck.

Another thing: the bonus is considered taxable income. You'll get a 1099-INT from Chase at tax time, so plan accordingly. It's free money, but Uncle Sam wants his cut.

If you have $15,000 sitting around, you might want to look at Chase's $900 checking and savings combo bonus instead. That one requires parking $15,000 in a savings account for 90 days, but the effective APY is over 13%. This $400 offer is a better fit if you don't have that kind of cash to lock up.

Should You Bother?

Honestly, this is one of the easier bank bonuses out there. The direct deposit requirement is low — $1,000 is basically anyone's paycheck — and you have three months to meet it. The fee waiver is simple to maintain, and there's no penalty for closing early. If you're already planning to switch your direct deposit or just want a quick $400, this is a no-brainer.

Just remember the two-year rule and the fact that you can't use external transfers or mobile deposits to qualify. Set up your payroll direct deposit, let it ride for a couple of months, and collect your cash.

Bottom Line

• Open a Chase Total Checking account and set up $1,000+ in direct deposits within 90 days to earn $400.
• Monthly fee is easily waived with $500 in electronic deposits or a $1,500 daily balance.
• No early termination fee, but you can only get one Chase checking bonus every two years.
• Bonus is taxable — expect a 1099-INT.

Common Questions