APY GUY: Maximize Your Savings & Earnings

Lauren Graves

Chase Checking Account Bonuses: $100 – $600!


image source: chase.com

If you’re a new Chase customer opening a College, Total, or Premier Plus checking account, you qualify for a welcome bonus offer of $100, $200, or even $300, respectively. Yes, up to $300. This offer is valid until July 20, 2020.

While we are going to focus on the Chase Bank checking account bonuses for this article, please note that it is also possible to lock in up to $600 from Chase Bank by doing the following:

  1. Open a new Chase Total Checking account + set up direct deposit
  2. Open a Chase Savings account with $15,000 in new money within 20 days + maintain this avg balance for 90 days.

The savings account only pays an APY of 0.02% and comes with some steep deposit requirements to capture this bonus.

To read more about this opportunity click here.

Now back to the checking account bonuses…

The checking account bonuses that pay up to $300 are far more attainable and don’t require you to lock up funds in a low paying savings account.

There are pros and cons to each of these accounts, so you’ll want to learn more about the options before you decide.

Read more about these offers, account terms, potential fees and how to avoid them.

Chase College Checking account + $100 Sign-Up Bonus

A Chase College Checking account is perfect for students ages 17 to 24 years old.

They’re fairly basic and don’t come with many bells and whistles. They do, however, offer a safe place to stash cash while in school and with great accessibility.

This account does not require a minimum opening deposit to open and a $6 monthly maintenance fee can be waived quite easily.

To open one of these, you’ll need to prove that you’re a student at a college or university with a transcript or acceptance letter. You’ll also need to have a Social Security number (if you don’t, visit a branch to discuss your options). This account can be opened online or in person.

How to waive the $6 monthly fee?

The $6 monthly maintenance fee associated with this account can be waived by doing just one of the following:

  1. prove that you are a college student (for up to 5 years),
  2. set up a direct deposit into this account, or
  3. maintain an average daily balance of at least $5,000.

This account (and all other Chase checking accounts) offer Overdraft Protection through standard overdraft practice.

If you choose to opt into this, you must link your checking account to your Chase savings account. Then Chase will make payments for you from the savings account when you overdraw your checking account. Note that this is done at their discretion and there is no guarantee it will happen every time.

In the event of an overdraft, you will incur a $34 fee. You will also incur a $34 fee every time a check or automatic payment is returned due to insufficient funds.

Chase also offers Debit Card Coverage, which, when activated, will decline transactions—without charging a fee—that would cause your account balance to go negative. Sign up for account alerts when your balance gets low and opt into this Debit Card Coverage if you’d like to avoid declined payments or overdrafts and the fees that come with them.

Other fees associated with this account include:

  • $15 per incoming wire transfer,
  • $25 per outgoing domestic wire transfer,
  • $12 returned check fee,
  • $6 paper statement fee (see this ​deposit account agreement​ for a complete list of fees for all accounts).
  • $2 for each page of printed personal checks. 3 per page.
  • $2.50 charge for out-of-network ATM usage.

How to qualify for the $100 bonus:

$100 for new College Checking Accounts!

To qualify for the $100 bonus, make sure you make 10 qualifying transactions—such as purchases with your debit card, QuickDeposits, online bill payments, etc.—within 60 days of opening the account. Use this link to access the offer.

Chase Total Checking account + $200 Sign-Up Bonus

The Chase Total Checking account is one of the bank’s more popular deposit products. And from now until July 20, 2020 this account features a $200 sign-up bonus for new customers.

How to qualify for the $200 bonus:

$200 for new Chase Total Checking Accounts!

Anyone can open this account with a minimum deposit of just $25. To earn the $200 bonus you will need to set up a direct deposit to this account within 90 days of opening it. This direct deposit must come from an employer, government agency in the form of benefits (social security) or pensions. Person to person payments are not considered direct deposits.

The direct deposit requirement to earn the cash bonus is often the largest ‘catch’ for offers like these. Early this week we covered the $400 Wells Fargo checking account bonus which had similar requirements.

Use this link to access the Chase Total Checking bonus offer.

Fees and how to avoid them:

This account has a $12 monthly service fee that you can avoid by meeting one of the following criteria:

  1. setting up direct deposits totaling $500 or more,
  2. maintaining an average daily balance of at least $1,500 in just this account, or
  3. maintaining an average daily balance of at least $5,000 across all linked deposit and investment accounts.

The insufficient funds and returned item overdraft fees of $34 each apply to all Chase checking accounts, and so does Debit Card Coverage, if you choose to use it. Overdraft protection options are also the same on all accounts.

This is a standard checking account, which doesn’t earn interest.

Chase Premier Plus Checking Account + $300 Bonus

The Chase checking account that will give you the highest signup bonus—$300—is the Premier Plus checking account, which requires a minimum opening deposit of just $25 and comes with many features that the others do not.

How to qualify for the $300 bonus:

$300 for new Chase Premier Plus Checking accounts!

The same direct deposit requirements to earn the bonus on the Chase Total Checking account (mentioned above) also apply to the Chase Premier Checking account.

You’ll need to set up a direct deposit from your employer or government agency (social security benefits, pension payments, etc) within 90 days of opening the account to qualify. Peer to peer payments of any kind do not apply.

Once this direct deposit requirement is met, the $300 bonus will be directly deposited into your account within business 10 days.

Use this link to access the offer.

Fees and how to avoid them:

This account’s high $25 monthly maintenance fee can be avoided by:

  1. either maintaining a combined average daily balance of $15,000 across all linked Chase accounts or
  2. by having a linked qualifying Chase first mortgage that you are paying in automatic installments.
  3. These qualifications must be met every statement period. 

Although this account is technically interest-bearing, the payoffs you’ll get from this feature are next to nothing. Right now, these checking accounts are earning just 0.01% APY across all balance tiers, in every state, so the interest-bearing part doesn’t count for much.

However, the perks on this account go beyond a meager interest rate. If you are the owner of a Chase Premier Plus checking account, you’ll have:

  1. monthly service fees automatically waived on up to 2 other Chase Premier Plus checking accounts,
  2. you’ll get checks and money orders for free,
  3. you can have out-of-network ATMs fees waived up to 4 times per period,
  4. your service fees will be waived on any and all linked Chase savings accounts, and more.

Though not quite the most elite account Chase has to offer (that title belongs to the Sapphire checking account), this one will reward you much more than your average checking account.

About Chase Bank Checking Accounts + Customer Sentiment

The Chase checking account options range from the very basic but less rewarding College checking account, to a benefits-packed Premier Plus account. All three options have their advantages. The majority of customers opt for a Total checking account, but Chase has an account that’ll work for nearly anyone.

Please note that there are even more Chase checking accounts to choose from, but these are the most popular accounts and the ones that most frequently offer signup bonuses.

This bank is very good at meeting its clients’ needs according to review agencies.

According to a study conducted by J.D. Power in 2019, Chase scored 846 on a 1,000 point scale in customer satisfaction and was tied for 2nd in a ranking of banks with the highest overall satisfaction score (the national average is 838).

Per this press release:

“Customers of Chase recognize the bank for providing innovative technology, having the lowest incidence of problems, and high satisfaction associated with credit cards and ATMs.”

As one of the largest and highest-asset banks in the U.S., it should come as no surprise that Chase has thousands of ATM and branch locations across the country. As of June 2020, there are over 16,000 ATMs and almost 4,900 Chase branches.

It’s also worth noting that the Chase mobile banking app is superb. It is easy to navigate and allows you to do anything you may need to do, from account management to getting help with a question. Across the millions of Apple and Android customers that use this app the vast majority are happy with it – scoring a 5 star and 4.5 star rating, respectively. This cannot be overstated, as many banking apps receive lower ratings.

Final Thoughts

Chase Bank offers far-reaching access through their branches and ATM networks, comprehensive online banking and mobile app features, and cold hard cash for new accounts.

Just remember, these three bonus offers are not available to existing Chase customers. But if you are new to Chase and in need of a checking account, you likely find a home with one of these accounts.

Wells Fargo Checking Account Bonus – Now $400 [Nationwide]


image credit: bonusoffer.wf.com/promo400

Yes, you read that right—a $400 checking account bonus available to new customers nationwide!

​Wells Fargo​ routinely proves how much they want your business with excellent welcome offers such as this one. From now until the end of July 2020, Wells Fargo will provide all new checking account customers with $400 after jumping through a few hoops.

We know this is a lucrative checking account bonus and we’re excited to see Wells Fargo offer it. Just be sure this checking account would be right for you even without the bonus before signing up.

How To Get The $400 Checking Bonus From Wells Fargo

The ​Wells Fargo Everyday Checking account​ is Wells Fargo’s most popular account and from now until the end of June you can snag $400 for opening it!

image credit: bonusoffer.wf.com/promo400

Here’s how to earn the $400 bonus (Online and In-Branch):

  1. Open an Everyday checking account using this link OR bring a printed out copy of the bonus code to your nearest branch. You can use the link (above) and click the “open in-branch” tab to have your code emailed to you.
  2. Deposit at least $25 into your new checking account to fund it.
  3. The kicker: You must receive a total of $4,000 or more in qualifying direct deposits to the new checking account within 90 days from account opening (the qualification period).
  4. $400 will then be deposited into your account within 30 days of meeting the above requirements.

The toughest criteria for receiving this cash bonus is likely going to be receiving at least $4,000 in direct deposits. Just remember this can be in the form of salary, ACH transfers from an employer, social security, income from a rental property, side-hustle or small business, etc.

Finally, you must have a positive balance for this entire period in the account (and it goes without saying, but the account must not be closed for any reason).

If you do not meet these offer requirements within 90 days of opening your account, you will not receive the bonus. But if you ​do​ follow these steps, the bonus will be automatically deposited into your checking account within 30 days. Please keep in mind that this bonus will be considered taxable income.

Certain groups of people will not be eligible for this offer, including current owners of Wells Fargo consumer checking accounts, Wells Fargo employees, and any individuals that have received a Wells Fargo bonus offer on a new consumer checking account within the past year. So you don’t technically have to be a new Wells Fargo customer, but you can’t already have a checking account with them.

Locations That Qualify For The $400 Checking Account Bonus

When Wells Fargo first rolled out this lucrative promotion in the beginning of 2020 it was exclusively available to residents of Orlando, Florida and Phoenix, Arizona.

Now, it’s available nationwide. Simply apply online or visit the Wells Fargo branch location nearest to you and open an account with the printed out code.

How to Avoid Fees with the Wells Fargo Everyday Checking Account

As with many checking accounts offered by large, national banks, you will have to meet a few requirements to avoid a monthly maintenance fee.

The Wells Fargo Everyday checking account will charge you a monthly service fee of $10, but this can be avoided in a few different ways.

  1. First, if you are between the ages of 17 and 24, this maintenance fee will be automatically waived for you.
  2. If you are older than this, you can avoid the monthly fee by maintaining an average daily balance of at least $1,500.
  3. You may also avoid the fee by setting up direct deposits totaling $500 or more into this account.
  4. Lastly, you can avoid the fee by making 10 or more transactions with a linked debit card per statement period (not including ATM transactions or ACH transactions via account and routing number).

Some other account fees cannot be avoided, but you should still know about them.

You’ll be charged $12.50 per overdraft transfer (when you’re enrolled in overdraft protection), $35 per overdraft or returned item, $2.50 per transaction using an out-of-network ATM in the U.S., and $5 per transaction using an out-of-network ATM outside of the U.S. Withdrawals from Wells Fargo ATMs are, of course, free.

Wells Fargo Checking Account Features & Perks

By and large, this checking account is basically your standard checking account. However, it does boast a few features and perks that help to make it more attractive.

One of the most advertised features is the Debit Card On or Off feature. This is unique to Wells Fargo and is a good safety measure that could save your account balance in the event of card theft or loss.

Simply turn off a card temporarily that you’ve had stolen or misplaced without canceling it, and your balance will be protected until you turn it back on.

With an Everyday Checking account, you’ll have access to the usual—but still nice—features available through this bank such as:

  1. Online and mobile bill pay and transfers.
  2. 24/7 customer service.
  3. Over 13,000 Wells Fargo ATMs.
  4. Debit Card Overdraft Services (customer must opt-in). Details below.
  5. Overdraft Rewind. Details below.
  6. Card-free ATM access. Allows you a one-time ATM code for use at a Wells Fargo ATM right from the bank’s mobile app.
  7. Text banking. Access your account balance, transactions, due dates, and more via text message.

If you add Debit Card Overdraft services to your account, your debit card transactions could be approved and put into overdraft (at the discretion of Wells Fargo), rather than just having them automatically declined when you can’t pay for them based on your balance.

You will incur a fee of $35 for every overdraft applied, but this will be waived if you can get the money to pay for the transaction into your account on the same business day.

Overdraft Rewind, a much less common practice, is a free account feature that will allow you to dodge an overdraft fee if your account receives a direct deposit covering the full amount of the transaction that went into overdraft by the next day. You might not take advantage of this all the time, but it could come in handy once in a while.

Final Thoughts

This is a very solid checking account bonus by Wells Fargo.

The Everyday checking account that the bonus is applied to is quite versatile and can be beneficial to a wide array of customers.

The $400 bounty for becoming a new checking account customer is also on the high end for bonuses of these types, that generally stay in the $100 – $200 range.

Just keep in mind, the $4k in direct deposits you’ll need to set-up to qualify for the bonus isn’t an easy ask for everyone.

Also, in the longer run, if you see yourself having trouble avoiding the monthly fees this could eat away at the cash bonus over time, so be sure you can meet these requirements comfortably.