Open a Chase BusinessClassicSM, BusinessPlus® or Chase Advanced Business CheckingSM Checking account and deposit a minimum of $500 or more within 30 days of account opening with funds not currently on deposit with Chase. Cash Reward will be deposited automatically into your checking account within 10 business days after the $500 minimum deposit requirement is met. Account opening is subject to approval. Minimum opening deposit of $25 is required. One cash bonus per business entity. Cash bonus may be considered interest reportable on IRS Form 1099-INT. Offer valid through March 15, 2008.
so whats the fine print? whats the early acocunt closure fees/penalties? dormant account fees? monthly fees? direct deposit and/or bill pay requirements?
Nice Find OP. The offer only states One cash bonus/ business entity. Chase would likely kick me out if I walked into a branch with 10 DBAs and $5,000 cash.
I opened an account under the $200 bonus last year and they waived all the fees for 1 yr. Typicially these accounts only need to stay open for 6 months to avoid early closure fees.
Tops
Broke Member
posted: Feb. 7, 2008 @ 6:16p
The Business Classic is the basic option they have and you have maintain a $5000 balance in order to avoid the fees listed here: http://www.chase.com/ccp/index.jsp?pg_name=ccpmapp/smallbusiness/business_banking/page/businessclassic_checking
rnj1975
Happy Member
posted: Feb. 7, 2008 @ 9:20p
Does one need to have a "real" business in order to open a business checking account?
MikeR397
Senior Member - 3K
posted: Feb. 7, 2008 @ 9:41p
rnj1975 said: Does one need to have a "real" business in order to open a business checking account?No fake businesses allowed .
You pick one:
Sole Proprietor (1040 Schedule C), Corporation (1120), Partnership (1065), S-Corporation (1120S), Trust (1041), and Non-profit organization (990)
Selling a bananna on eBay can qualify you as a Sole Proprietor .
orbitgroove said: looks like you can go online and do it too
when you start the account opening process, it asks for a coupon code if you have one That is nice. However, it doesn't look like you can do a referral as well as a coupon code. Also, the minimum account balance for the lowest choice is $6k to avoid $8 monthly fee. When I did one of these last year, she was able to set me up with an account that had no minimum balance and no monthly fee. So I guess there might be an advantage to going to a branch.
Nummerkins
Senior Member
posted: Feb. 8, 2008 @ 10:06a
Does anyone know if there is a hard pull involved?
letsgetsilly
Senior Member
posted: Feb. 8, 2008 @ 10:15a
My strategy: Going to pen with $500 deposit, take the $9 fee per month, and then cash everything out after 6 months. I'm not going to keep a 5k balance in there.
JohnMcLarty
Member
posted: Feb. 8, 2008 @ 10:46a
Looks like I'm out of luck in California, I can't find any locations near by nor will they do an online app.
letsgetsilly said: My strategy: Going to pen with $500 deposit, take the $9 fee per month, and then cash everything out after 6 months. I'm not going to keep a 5k balance in there. Technically, you withdraw it the next day. There is no "funds must be held for x months" requirement.
Nummerkins said: Does anyone know if there is a hard pull involved?
My wife and I have never received a hard pull from opening perosnal or businsess chase checking accounts. We openined 2 personal and 1 business checking last year alone.
People who applied under the last offer (linked in my previous post) reported no hard pull too.
shedantlers
Addicted Member
posted: Feb. 8, 2008 @ 12:01p
JohnMcLarty said: Looks like I'm out of luck in California, I can't find any locations near by nor will they do an online app.
Did you try calling them? They will open an account on the phone and you can use a coupon.
shedantlers
Addicted Member
posted: Feb. 8, 2008 @ 2:32p
I called Chase today and asked them about the monthly fees and they said for the 1st year, there is no monthly minimum deposit (except of course the bonus requires $500). After the first year, he told me it is $4K of a monthly deposit to avoid the $8/monthly charge. This is for IL so your state may have other restrictions. Give them a call and check.
Pyromaniac
Member
posted: Feb. 8, 2008 @ 2:55p
awesome!
where are there any chase branches anyways? I checked my apartment in the Bay Area and my hometown near Boston w/ no luck....
shedantlers said: I called Chase today and asked them about the monthly fees and they said for the 1st year, there is no monthly minimum deposit (except of course the bonus requires $500). After the first year, he told me it is $4K of a monthly deposit to avoid the $8/monthly charge. This is for IL so your state may have other restrictions. Give them a call and check.
In that case how long we have to keep this account open?
Can we close it after normal 180 days? and not liable for any early closing fees.?
JohnMcLarty
Member
posted: Feb. 8, 2008 @ 4:12p
Did you try calling them? They will open an account on the phone and you can use a coupon. Called & they said no go over the phone but go online I told her I just tryed so she went to check, Came back & told me they no longer let you apply online as they were having to much fraud. So I'm still out of Luck
spotrun said: In that case how long we have to keep this account open?
Can we close it after normal 180 days? and not liable for any early closing fees.? 6 months, or a there is a $20 fee (at least in IN). I just closed my old one today, but the teller (who opened my personal checking for $150 2 weeks ago) went ahead and waived the fee. Chase loves me, lol.
turrdog
Thrifty Member
posted: Feb. 8, 2008 @ 5:56p
DreamKrusher said: desiluvu said: CAn you open 3 different account for three partners for one business or only 1 account.
It appears to be bonus/business
The terms on this offer state: One cash bonus per business entity
Although the terms seem to be better than the last offer...
The last offer here stated: one business checking account related award/premium per customer, per calendar year.
I am a Chase bonus veteran, but these terms are a bit different than I'm used to seeing. Does one bonus/business mean that when I received a $200 Business Savings bonus on 1/2 from an account I opened in December, I will not be eligible for this Business Checking bonus? I will be going in this weekend and checking it out, unless someone knows the answer before then....
2weeks
Senior Member
posted: Feb. 8, 2008 @ 11:06p
rnj1975 said: Does one need to have a "real" business in order to open a business checking account? I went in last year with my business cards & Chase Business MC. No go. They made me get a Tradename certificate. Had to go down to the State, but it was only $10. She setup a linked checking/savings account, so I don't have any min balance requirement.
I just entered a NYC zipcode to get past the start page, then I entered my California zip code later in the process for my mailing address. Everything seems to have gone through.
Although the terms seem to be better than the last offer...
The last offer here stated: one business checking account related award/premium per customer, per calendar year.
I am a Chase bonus veteran, but these terms are a bit different than I'm used to seeing. Does one bonus/business mean that when I received a $200 Business Savings bonus on 1/2 from an account I opened in December, I will not be eligible for this Business Checking bonus? I will be going in this weekend and checking it out, unless someone knows the answer before then....
So has anyone confirmed that existing customers are able to do this?
Although the terms seem to be better than the last offer...
The last offer here stated: one business checking account related award/premium per customer, per calendar year.
I am a Chase bonus veteran, but these terms are a bit different than I'm used to seeing. Does one bonus/business mean that when I received a $200 Business Savings bonus on 1/2 from an account I opened in December, I will not be eligible for this Business Checking bonus? I will be going in this weekend and checking it out, unless someone knows the answer before then....
So has anyone confirmed that existing customers are able to do this?
Thanks for the unhelpful reply!! I am capable of reading but wondered about how the change in terms affected a different kind of account for the same business. Obviously you don't know the answer either, so why reply??
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