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We don’t focus on bank account bonuses in this blog, though Nancy and I do mention them from time to time While more tedious than chasing after credit card bonuses, I believe it’s something all of our readers should at least look into. This is especially true in our era of super low interest rates.
Personally, I avoid any bonuses that require a direct deposit, since it’s a hassle for my husband to tinker with. Yes, I’m aware that there are other “creative” ways to trigger a direct deposit, but I try to stick to the terms of the bonus.
But if an offer isn’t super complicated and just requires keeping money for a certain number of months plus making a few purchases, why not? I’m happy to park my emergency fund and earn a few bucks in the process.
So, when I saw a $750 bonus offer on Chase Total Business Checking account, I was interested. I’ve generated a coupon a few months ago, but had no luck applying online. I’ve tried multiple times, to no avail. So, I had no choice but to plan a trip to the nearest Chase branch. Unfortunately, we live about 50 minutes away from one, so I kept putting it off.
Combining business with pleasure
My husband and I had a getaway planned, and there were some Chase branches on the way home. So, I figured, maybe I could convince him to stop by at the end of the trip. I was a little nervous because he hates stuff like that. To my surprise, he agreed because well, it is a lot of money.
So, I called one of the branches and asked if I could swing by so the banker could help me apply for this account. The receptionist said that would be no problem. Well. When I got there, they looked at me like I was a crazy person. I was told the banker is booked up for the day and that I needed an appointment. That was on a Monday, so probably not the best day to pop in. I’m not sure why I was told otherwise when I called, but OK.
So, I called another branch that was also on the way, and nobody picked up the phone. Another try, and I was told that the soonest the banker could see me would be two hours from now. I didn’t think my husband would be up for that, so I cut my losses.
Lesson learned: you can’t just do something like this on the fly. Make an appointment and plan your trip around it. I also recommend talking to a banker to see what documentation is required. As it turns out, I would not be able to apply for this account anyway, since I didn’t have my EIN or Florida business registration numbers with me.
Driving to the local branch at the eleventh hour
So, yesterday (right before the coupon was set to expire), I called the nearby branch and made an appointment. That’s how I found out about the supporting documentation. I hate being gone in the middle of the day because our son is in virtual school.
My husband works from home, but he is too busy to supervise him. Basically, his job is to make sure our kid doesn’t get murdered, and that’s about it. I figured my son would get nothing done, and sure enough, I found him happily watching YouTube videos when I came back three hours later.
But I got the account opened! I even received a printout that mentioned $750 bonus. The banker was very friendly, though it took us an hour to get everything done. I wrote her a $10k check on the spot, so I don’t have to worry about it later. And I’m glad I did because I just saw a post from Mark at MtM blog on the rigamarole he is dealing with trying to set up a money transfer online.
All in all, while getting this account set up was certainly a hassle, $750 is a big enough carrot to justify it. I just wish I didn’t procrastinate until the last day. Speaking of…
100k offer on Chase Sapphire Preferred is still available in branch
While I was applying for Chase Business account, I saw an ad for it on my banker’s desk. I asked her when it was set to expire, but she had no idea. All the links (including referral) are now dead to the best of my knowledge. So, if you have procrastinated, this is your chance. Last call! Go to your local branch, assuming you qualify, because this is the offer of the year, no question about it.
Leana is the founder of Miles For Family. She enjoys beach vacations and visiting her family in Europe. Originally from Belarus, Leana resides in central Florida with her husband and two children.