What Chase offers and how much it pays

Chase runs several deposit bonus offers that vary by account type and region. The most common is the Chase Total Checking bonus, which has ranged from $200 to $500 in recent years depending on your location and the time you open the account. Chase also offers bonuses on savings accounts and money market accounts, typically smaller — often $50 to $200.

The bonus amount changes frequently. Chase may run different offers in different states or pause offers entirely for weeks at a time. You can see what's currently available by visiting Chase's promotions page or calling a local branch, since the offer you see online may not be the one available in your state.

These bonuses are not automatic. You have to meet specific conditions within a set timeframe — usually 60 to 90 days — or you won't receive the money. The most common requirement is setting up direct deposit, which is why this offer appears under that category.

Key Takeaways

  • Chase deposit bonuses typically range from $200 to $500 for checking accounts, though the exact amount depends on your location and when you open the account.
  • You must complete a requirement — usually setting up direct deposit — within 60 to 90 days to receive the bonus.
  • The bonus is deposited into your account after you meet the conditions, not when you open the account.
  • Chase may require you to maintain a minimum balance or keep the account open for a certain period, so read the full terms before opening.
  • Different Chase branches and regions may have different offers running at the same time.

What you have to do to get the bonus

The requirement depends on which account and offer you're looking at. For checking accounts, Chase typically requires you to set up direct deposit — meaning your employer or another source deposits money into that account. Some offers require a minimum deposit amount (like $500 or $1,000) within the timeframe, and some require both.

You usually have 60 to 90 days from opening the account to complete the requirement. Chase will track this automatically. Once you meet the condition, the bonus appears in your account within a few business days to a few weeks, depending on the offer.

Read the full terms before you open the account. Some offers require you to keep the account open for a set period after receiving the bonus, or they may claw back the money if you close it too soon. Others require you to maintain a minimum balance throughout the qualification period.

When the bonus shows up and how it's taxed

The bonus deposits into your account after you've met all the conditions, not when you open the account. Timing varies — some bonuses appear within days, others take several weeks. Chase will send you a confirmation email or notification when the bonus has been added.

The bonus counts as taxable income. Chase will send you a 1099-INT form at the end of the year if the bonus is $10 or more. You'll report this on your tax return as interest income. The amount is usually small enough that it doesn't change your tax bracket, but it does increase your reported income for that year.

How to find the current Chase offer in your area

Chase's website shows promotions, but the offer displayed may not be available in your state. The fastest way to find out what's actually available where you live is to call or visit a local Chase branch. Staff can tell you the exact bonus amount, the requirement, and the deadline.

You can also check Chase's promotions page online, though you'll need to enter your state to see location-specific offers. If you see an offer online but want to confirm it's still running, a phone call to the branch takes two minutes and saves you from opening an account for an offer that's ended.

Comparing Chase bonuses to other banks

Chase bonuses are competitive but not always the highest available. Other banks — including regional banks and online-only banks — sometimes offer larger bonuses or easier requirements. A $300 Chase bonus might compete with a $250 bonus from another bank that requires no direct deposit, or a $400 bonus from a smaller bank with a higher minimum deposit requirement.

The choice depends on whether you plan to use Chase anyway. If you're opening an account purely for the bonus and have no other reason to bank with Chase, comparing the bonus amount against the requirement and the account's ongoing fees makes sense. If you already use Chase or prefer their branch network, the bonus is a bonus — not the deciding factor.

What happens if you don't meet the requirement

If you don't complete the requirement within the timeframe, you simply don't receive the bonus. Chase won't charge you a fee or penalize you — you just miss out on the money. The account remains open and functions normally, with whatever balance you've deposited.

Some people open a Chase account for the bonus, don't complete the requirement, and then close the account. This is allowed, though closing an account shortly after opening it can affect your banking history. If you're not going to meet the requirement, you can close the account without penalty — you just won't get the bonus.

Frequently Asked Questions

Can I get the bonus if I already have a Chase account?

Most Chase bonus offers exclude customers who have had a Chase checking or savings account within the past 90 days. If you closed an account recently, you may not be able to open a new one and receive the bonus. The terms specify this, so check before you apply.

Do I have to keep the account open after I get the bonus?

Some offers require you to keep the account open for 90 days after receiving the bonus, or Chase will take the money back. Others have no such requirement. Read the terms for the specific offer you're interested in — this detail matters if you're opening the account only for the bonus.

What if my employer won't set up direct deposit to a new account?

Some employers require you to have the account open for a certain period before they'll change your direct deposit. If that's your situation, ask whether the offer allows you to transfer money from another account instead, or whether you have more than 60 days to set up the direct deposit. Different offers have different flexibility.

Does the bonus count as income for unemployment or benefits?

The bonus is income for tax purposes, but whether it affects unemployment, Medicaid, or other benefits depends on the specific program and your state. If you receive means-tested benefits, contact that program before opening the account to ask whether a one-time deposit bonus will affect your status.

Can I open multiple Chase accounts to get multiple bonuses?

Chase's terms typically limit you to one bonus per customer per year, and some offers exclude you if you've received any Chase bonus in the past 12 months. Opening multiple accounts to circumvent this can result in Chase closing the accounts and withholding the bonuses, so it's not worth attempting.