Up to $3,000 Bonus with Chase Private Client Account
Chase is offering a huge bonus of up to $3,000 when you upgrade your account to Chase Private Client. This account needs a balance of $250,000 or more, and you need $500,000 or more to get the maximum bonus. So clearly, this is not a deal for everyone. It is a big improvement from the previous $1,250 bonus, but still has a huge balance requirement that makes it prohibitive for most people. Let’s take a look at the detail of this latest Chase Private Client bonus.
Chase Private Client Checking Bonus
Save time and money with better banking benefits and special services, plus a $3,000 Welcome Bonus. Here’s how to get started:
- Meet with a Private Client Banker to upgrade your account to Chase Private Client, or open a new Chase Private Client account.
- Within 45 calendar days, transfer new money to a combination of eligible checking, savings and/or investment accounts (excludes any You Invest, J.P. Morgan retirement accounts and CDs), and maintain the balance for at least 90 days from coupon enrollment. The bonus depends on the amount you deposit;
- $1,000 Bonus with $150,000-$249,999 deposit
- $2,000 Bonus with $250,000-$499,999 deposit
- $3,000 bonus with $500,000+ deposit
- Your bonus will be deposited into your account within 10 business days.
There is a $35 Monthly Service Fee for Chase Private Client Checking OR $0 when you have at least one of the following each statement period: an average beginning day balance of $150,000 or more in any combination of this account and linked qualifying deposits/investments OR, a linked Chase Platinum Business Checking account.
You can see the promotion page here. This offer expires on October 16, 2024.
Important Terms
- Offer not available to existing Chase Private Client customers.
- Eligible Accounts: qualifying Chase personal checking and savings accounts, and J.P. Morgan Wealth Management non-retirement accounts (opened in a Chase branch and serviced by a J.P. Morgan Private Client Advisor).
- Ineligible Accounts: Chase business checking and savings accounts, any J.P. Morgan Self-Directed Investing & Automated Investing accounts, J.P. Morgan Wealth Management Personal Advisors accounts, any J.P. Morgan Wealth Management retirement accounts (such as Traditional and Roth IRAs, Keoghs, SEP and SIMPLE IRAs, and 401(k) plans); CDs; insurance products; fixed and variable annuities; J.P. Morgan Fund Accounts; 529 College Savings Plans; attorney trust accounts; client fund trust accounts; donor-advised funds; as well as Government or Non-Profit accounts
- You can only participate in one Chase Private Client Checking, Sapphire Checking or You Invest new money bonus in a 12 month period.
- Coupon is good for one time use.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
- Account must be kept open for 6 months, otherwise bonus could be taken back.
- This bonus will be considered as interest, so you have to pay taxes.
Chase Private Client Checking Bonus: Guru’s Wrap-up
This deal is now a little better for those who have the money to go for this offer. You only need to keep the money in the account for about 45 days, instead of 90 days.
If you keep the $500K in the account for exactly 45 days, you get a 4.80% return. That is decent, but you can still do better with other high yield accounts that don’t require such a high balance. It’s worth noting that investment accounts also count towards this requirement.
The best way to go about this bonus is to do this $900 checking/savings offer first. Then, upgrade and go for this Chase Private Client $3K bonus.
Bank bonuses are a great way to earn some extra income, often from the comfort of your home. You can take a look at my bank bonus results for 2022 where I made over $6,000. If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.
