Saving money is great but earning easy money is even more fun. I always try to take advantage of bank offers as often as possible.  Bank offers are when a bank advertises a sign-up bonus for creating a new account and fulfilling certain criteria.  You just have to read the terms of each one before signing up to make sure that you qualify.

Chase CheckingSM Account

If you set up a checking account with Chase before June 23, they will give you $100.  To qualify, you just need to  either set up a direct deposit to your new account, OR you can use the debit card they send you five times in the first sixty days.  I can absolutely use a debit card for $100, what about you?  You could go to Target and split your transaction into five transactions if you wanted to, just to get it off your to-do list. The credit should automatically appear 10 business days after meeting the requirements.

Yes, the money does come.  I have received every one that I’ve signed up for so far.  After you receive and use your debit card five times, mark ten business days on your calendar and check back into your account.  If it doesn’t credit for some reason, just call them at 1-877-CHASEPC (1-877-242-7372) and they should be able to help you.

$100 bonus for new Chase Checking Customers.

You’ll need to deposit some funds, of course–at least $100 to meet their terms, but I transferred a bit more just so I would have more freedom in what I used the debit card for.  After your bonus clears, you must keep the account open for six months.  After that, you  can either transfer the money out and close your account, or you can keep it open and enjoy using your new checking account. (If you close it, though, you may get money to open a new one next year. It’s one promo per year, according to the fine print!  The fine print also says one per person, so I’m thinking my husband will be getting his own checking account tonight, too!)

Checking Account Fees

NOTE! There is a monthly fee of $6 for this account if you don’t make five debit card transactions, or set up a direct deposit.   If you do either of those things, it’s free.  I just called them to ask what qualifies as a direct deposit–specifically, if internet transfers from other banks count.  It really depends on how your bank sends the money.  However, I think external transfers from other banks (like online savings accounts) should count as direct deposit.

I am going to attempt one from ING, and then I’ll call them and find out how it appeared.  If that qualifies, then I will withdraw most of the money from the account and set up one recurring deposit from ING of $10 or so for the first of every month, and a recurring withdrawal for $10 on the 15th.  That way, I can keep from carrying a balance in this account, and I won’t have to mess with the account again for six months, and I won’t have to carry the debit card around, either.

If it doesn’t count as Direct Deposit, then I’ll just have to make a note to use my debit card five times a month, and honestly, I will probably do just what I said earlier and buy five small items all at once, just to keep me from forgetting.  I’ll schedule an Outlook reminder every month to use my debit card, and keep hitting “snooze” until I’ve done it.

Sound like a hassle to keep track of?   Sign up for the account and write it in your calendar to call and cancel six months from your sign-up date.  Meet your requirements for the first month to get the bonus.  If you set your direct deposit up from your employer, you’re golden and you don’t need to worry about it for six months. Otherwise, six dollars a month for six months is $36.  $100-$36 = $64 profit, even if you do pay $6 per month.  $64 is better than $0, right?