100$ for opening a chase account...

[SandrA9810]

what are the hidden things I should know about??

I'm not a particular fan of chase, neither is my aunt, or my friend who this offer is for. But a 100$ is a hundred bucks. So he asked me if he thinks he should do it.

It doesn't say which checking account it has to be. And he'd qualify for the college student card, which takes away the 5 minimum debit transactions for keeping the regular checking account free. There's also no minimum balance, just 25$ to open the account, plus I'm sure whatever else you need for a savings account. Do they even let you open a checking account without a savings these days??
I don't think it'd be a regularly used account. Maybe just stockpiling for buying school books and things like that. Or if the ATM is a chase atm to avoid paying a fee with his other bank card. There's really no benefits and perks to this account to even make it worthwhile to use as a main account.

 

[brios86]

I did this a couple weeks ago. To ge tteh $100 you have to set up direct deposit or do 5 or 10 debit card transactions. Its only for the regular checking account so you would have to continue to use the debit card 5 times each month or have something direct deposited.

 

[SandrA9810]

do they require you to have a savings account?? Because have a 300$ minimum in that account to avoid service fees would not make it worthwhile to open the account.

I guess buying a soda at the gas station will have to serve for the 5 transaction if it has to be the regular checking account.

This would be really good for him too right now, cause he needs to see a dentist, and private coverage runs a 100$ for a year.

 

[ChristmasElf]

Chase sucks.

Their banking practices are questionable at best.
Having a mortgage through them is a nightmare if you ever have a question, or want to pay it off early.
They put holds on checks longer than they are supposed to.

The ONLY decent bank left is USAA. Unbelievably FANTASTIC customer service, never a hold on ANY check, and they don't nickle and dime ya to death.

No $100 dollar gimmic that Chase puts out there would ever get me to bank with them.

 

[Mimi1965]

We have a Chase account and mortgage and have no problems

 

[Abbie]

We have a Chase account and mortgage and have no problems

Same here, never any issues.

 

[dsny1mom]

If this offer is like others from other banks then you would get a 1099 for the $100 and have to pay taxes on it.

dsny1mom

 

[brios86]

I did not open a savings acct.

 

[pixiemagic30]

If this offer is like others from other banks then you would get a 1099 for the $100 and have to pay taxes on it.

dsny1mom

Last fall, we moved and needed to open a new account. We decided to go with Chase b/c of it's national locations. Anyway, we had received a flier about receiving $100 if we opened an account. At tax time, we did receive a 1099. We did open a regular account, I do not remember a savings account as a requirement (though we did open one). I do remember that we had to have the account open for a minimum amount of time before we got to keep the money...

 

[AristocatFan]

We have savings, checking, three credit cards, all the kids' savings accounts, DS's checking account, well just about everything with Chase. Have had them for years, never had a problem. We love Chase.

 

[SandrA9810]

Well I just signed up for it. Not going to be a primary account or overly used. Just to get the free 100$. Then after a year we'll see how I like it. The perks of my bank can't be outweighed by any other, so I won't stop using them for primary reasons.

We're gonna go on Monday for him to open one up too.

I'm not worried about taxes either. Neither one of us has a large enough income to worry about actually paying taxes on it. And I did think it was a little strange that it asked if I owed the IRS money and other tax info.

 

[Mickey527]

Thanks for the replies, I was going to post this same question today.
I got a card for $125 to open an account. It was in with my Disney charge card bill, which is a chase card.
I hate to do the direct deposit because I have my SSDI check deposited into my credit union account but I think I will try the bank for the 6 months then see if I want to cancel and go back to the credit union. $125 is a good amount to put away for my NYE trip to WDW.

 

[Luvchefmic]

Chase sucks.

Their banking practices are questionable at best.
Having a mortgage through them is a nightmare if you ever have a question, or want to pay it off early.
They put holds on checks longer than they are supposed to.

The ONLY decent bank left is USAA. Unbelievably FANTASTIC customer service, never a hold on ANY check, and they don't nickle and dime ya to death.

No $100 dollar gimmic that Chase puts out there would ever get me to bank with them.

See you're in FL have you tried Sun Trust ? The branches will say they have a hold on a check but our main branch is in Lake Buena Vista/DTD they never held a deposit for me. No fees/no minimum balance for checking or savings I've been dealing with them since 1998 I can't say enough good about this bank I only addressed this because you said the only decent bank is USAA.

As far as Chase I only have the Disney Visa card through them so can't really say but am interested in seeing the opinions here. Looks like so far the opinions are good I didn't see the offer in the CC bill will have to look again

 

[SandrA9810]

My credit union has never held a deposit, cash or check, in person or ATM. I can't stand banks that do that. Now if it's a check from some one whom I don't trust their banking skills, then I'll deposit it into savings and wait a few days to make sure it clears.
That's one reason why I'll never want to change entirely. And even though they don't have locations throughout the US, I can still visit a "sister bank" to do all my banking. Except for opening or closing an account or taking out a loan. That has to be done in person at the branch.

 

[bumbershoot]

We were forced into Chase after they stole Wamu, and at first we were going ot just get out of dodge (and we did open a CU account), but I've had the account SO long I wanted to keep it. Plus, we had a loan through them (from before the wamu thing) and it was convenient to have checking there for that loan. And we've been VERY surprised. They've been entirely pleasant, there's never been a problem with checking, and the one error a teller made on the car loan was fixed in 2 minutes with a phone call to the branch! (the teller put that it was a regular payment instead of a principal payment, and admitted that I'd checked off Principal on the form, and they fixed it in a jiffy).

We just paid off our car loan 2.5 years early, it was all very easy, and about 1.5 weeks later we got the title. Fast, pleasant, courteous...I'm not complaining about Chase anymore.


Now if only we'd get an offer for a new checking account that allowed existing customers to use it! DH would like a new account for his work stuff!

 

[MarkBarbieri]

Stole WAMU? The OTS seized WAMU when it was suffering from a run and was about to collapse. Chase bought it from the OTS. If anyone stole WAMU (the question is being adjudicated as we speak) it was the Office of Thrift Supervision.


As for Chase, I've been banking with them since the bought Bank One. I've got no complaints. They have lots of local branches near us. They have ATM machines just about everywhere we go. They have lots of great tech features.

The people at the local branch were very helpful when we paid off our Wells Fargo mortgage. They were certainly more helpful than WF, who explained that they couldn't help us because Wells Fargo Mortgage is a different company than Wells Fargo Bank.

Our local branch is always very helpful. They not only didn't complain when my kids brought a little frog into the bank (they found it on the walk over), they got a cup and some water for the frog while I conducted business.

I love their i-Phone app. If you write me a check, I no longer curse you for making me take a trip to the bank. Now, I just use my phone to take a picture of the front and back of the check and deposit it virtually. I never have to leave my house.

I've never borrowed money from them, bounced checks, made late credit card payments or anything else that might test their customer service, so I can't say what they are like in those circumstances. I can see how, if I got into trouble, it would be nice to have a relationship with a real human banker. But for my current circumstances, I love the advantages that banking with a technically sophisticated mega-bank bring.