Chase Bank is bringing back its $150 checking account bonus and adding a $100 savings account bonus to the promotion.
New customers who open both can collect a total of $250 for their trouble.
You might recall that Chase offered a similar bonus on its no-frills Total Checking Account last spring.
To collect the cash this year, new customers must make an initial deposit of at least $25 and have a payroll or pension check of at least $500 directly deposited into the account within 60 days.
You then need to keep the account open for at least six months or Chase will claw back the bonus.
Compare that to the hoops new customers must jump through for bonuses at other banks, and you’ll see that they’re pretty limited and simple demands.
Once you have the direct deposits rolling in, Chase will waive the $12 monthly fee. (You can also avoid the fee by keeping a minimum balance of $1,500 in your checking account or $5,000 in your Chase checking and savings accounts.)
You’ll also be able to use the bank’s well-regarded mobile app and its huge network of branches (5,500, according to Chase) and ATMs (18,000).
The bonus is not available to current Chase customers or former customers who’ve closed accounts within the past 90 days or closed a Chase account with a negative balance.
While you’re filling out the forms for that new checking account, how about a savings account, as well?
New customers who open a Chase Savings account can qualify for the $100 bonus by placing at least $10,000 in new money (funds not currently on deposit with Chase) within 10 days and maintain a $10,000 balance for 90 days.
You must keep at least $300 in your Chase Savings account to avoid a $5 monthly fee.
The best nationally available savings accounts pay more than 1%.
This Chase savings account isn’t one of them, with a return of just 0.01% APY for all balances in all states.
But hopefully that will grow when the Federal Reserve starts pushing short-term interest rates higher later this year.
You have until July 14 to take advantage of this offer.