Chase Bank Bonus: $600 Total Checking + Savings, 60,000 Point Upgrade to Sapphire Banking

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Chase Bank has updated banking promotions for new customers without a Chase Bank account (closed more than 90 days ago and haven’t gotten a bonus in the last 2 years). The first bonus is for their Total Checking and Savings accounts, and if you satisfy that and have a Sapphire credit card, you can upgrade to the Sapphire Banking with higher requirements.

  • Up to $600 for opening a new Total Checking + Savings account. You must move over a direct deposit on the new checking account ($300 bonus), and/or deposit and maintain $15,000 in the savings account for 90 days ($200). Do both, and get another $100, for $600 total. The easiest way to avoid monthly fee is to keep $1,500 in Total Checking and $300 in Savings.
  • 60,000 Ultimate Rewards points for upgrading to a Chase Sapphire bank account. Got a Chase bank account and a Sapphire credit card? They want your business, so take a look at their upgrade offer to Sapphire Banking. You must move over $75,000 in assets (bank deposits or securities) to Chase Bank or Chase You Invest brokerage. You can simply move over some existing stocks, ETFs, or mutual funds via ACAT transfer and your tax cost basis should transfer. Alternatively, you could buy US Treasury bills in the brokerage account as an alternative to Chase Bank’s sad interest rates. You need to also have the Chase Sapphire Preferred or Chase Sapphire Reserve credit card.

Together, this could be up to $1,500 total value. If you have the Chase Sapphire Reserve card, the 60,000 points are worth $900 towards travel (or 60,000 airline miles). $900 airfare/hotel/car rental value + $600 cash = $1,500. If you have the Chase Sapphire Preferred card, the 60,000 points are worth $750 towards travel (or 60,000 airline miles).

Here are previous posts on the Chase Total Checking bonus and Chase Sapphire Banking bonus with more details.

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Comments

  1. Jason Boxman says:

    I’ve done these a few times over the years. I must have gotten blacklisted. Was rejected this time.

  2. Jonathan, I closed my Chase account in December 2016. Do you think I qualify? It reads “You can receive only one new checking and one new savings account opening related bonus every two years from the last enrollment date and only one bonus per account. ” Based on that, I believe I qualify, since I opened my Chase account in March of 2016. If that’s what they mean by “enrollment date”. Please, share your opinion. Thanks.

  3. The two parts that matter seem to be:

    “Checking offer is not available to existing Chase checking customers. Savings offer is not available to existing Chase savings customers. Both offers are not available to those with fiduciary accounts, or those whose accounts have been closed within 90 days or closed with a negative balance.”

    and

    “You can receive only one new checking and one new savings account opening related bonus every two years from the last enrollment date and only one bonus per account”

    It seems like if you “enrolled” in March 2016 and “closed” in December 2016, you should be okay. I might go by when you actually got the bonus to be safe?

  4. Be really careful if you don’t have a Chase branch locally. They refuse to do a number of things over the net/phone. I was luckily traveling where there was a branch otherwise I’d never have been able to close my account.

  5. D’oh… I just did the promotion for $500 last month. Wish I’d waited.

    But.. could my wife also get the promotional bonus if she opens her own accounts? Perhaps after I close mine or move my money out?

  6. Vasia rogov says:

    Just regular cheating. They not allow you to transfer money within 6 month of opening so you cannot get bo us unless you spend money on wire transfers which are expensive

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