Chase's $900 Checking Bonus: Is It Worth the $10K Direct Deposit?

Chase just rolled out a new checking bonus that can put up to $900 in your pocket, but there's a catch: you'll need to funnel a significant amount of direct deposits into the account within 90 days. If you can swing it, this could be one of the most lucrative bank bonuses out there. Let's break down the details so you can decide if it's worth your time.

How the Bonus Tiers Work

Chase is structuring this bonus in three tiers, so the more you deposit, the more you get. If you receive $2,500 to $4,999.99 in qualifying direct deposits within 90 days, you'll earn $425. Bump that up to $5,000–$9,999.99 and you're looking at $600. But if you can manage $10,000 or more in direct deposits during that window, you'll snag the full $900.

The key is that these must be electronic deposits of your paycheck, pension, or government benefits—things like Social Security. Chase is pretty strict about what counts: person-to-person payments like Zelle, mobile check deposits, and external transfers from other banks don't qualify. Even tax refunds and wire transfers are excluded. So you'll need to route your regular income into the account to hit those thresholds.

Who Can Get This Bonus (and Who Can't)

This offer is for new Chase checking customers only. If you currently have a Chase checking account, or if you've closed one within the last 90 days, you're out of luck. Also, if you closed an account with a negative balance in the past three years, you won't qualify.

There's also a limit on how often you can earn these bonuses: you can only receive one new checking account bonus every two years, measured from the last coupon enrollment date. So if you've gotten a Chase checking bonus recently, you'll need to wait before you can get another one.

Avoiding the Monthly Fee

The Chase Total Checking account comes with a $15 monthly service fee, but it's easy to waive. You have a few options: set up monthly direct deposits totaling at least $500, keep a minimum daily balance of $1,500 in the checking account, or maintain an average daily balance of $5,000 across qualifying Chase checking and savings accounts.

Even better, new accounts won't be charged the monthly fee for at least the first two statement periods. That gives you a little breathing room to meet one of the waiver requirements.

The Good News: No Early Termination Fee

In the past, Chase required you to keep the account open for six months or they'd claw back the bonus. That clause was removed a few years ago, so now you can close the account as soon as the bonus hits your account without any penalty. Just make sure you've received the bonus before you close it—Chase states the enrolled account must be open and not restricted at the time of payout.

Is This Bonus Right for You?

If you can easily meet the direct deposit requirements, this is a fantastic offer. The $900 tier is especially attractive because you don't have to tie up $15,000 in a savings account for 90 days like some other Chase bonuses require. You just need to have a high enough income to direct deposit $10,000 within three months.

On the other hand, if you can't meet the direct deposit thresholds, you might want to look at Chase's other checking and savings bonus offers, which may have lower direct deposit requirements but require a larger balance. This particular offer is best for those with sizable paychecks or the ability to route other qualifying income into the account.

A Few Things to Watch Out For

First, the bonus is considered interest, so you'll get a 1099-INT for tax purposes. That means you'll owe taxes on the bonus amount, so factor that into your net gain.

Second, the direct deposit tracker can take a couple of business days to update after your deposit posts. Don't panic if you don't see it immediately. Also, if your deposit codes as something unusual, it might still count, but it's worth checking with Chase or waiting a few days to see if the tracker updates.

Finally, if you forget to apply the offer code when you open the account, you can still bring the code to a branch within 21 days of opening and have it applied. Just make sure you meet all the eligibility requirements.

Bottom Line

• Earn $425, $600, or $900 based on $2,500–$10,000 in direct deposits within 90 days.
• Direct deposits must be paycheck, pension, or government benefits; Zelle, transfers, and mobile check deposits don't count.
• No early account termination fee—close after receiving the bonus.
• Monthly $15 fee waived with $500 in direct deposits, $1,500 minimum daily balance, or $5,000 average balance across Chase accounts.
• Offer expires January 27, 2027.

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