If you’re planning to open a new Chase checking account, you may be eligible for one of the best bank promotions currently available. Chase is offering a $400 sign up bonus to qualifying new checking customers, but many applicants miss out because they overlook a few important requirements.
The good news is that qualifying is relatively straightforward. As long as you understand the eligibility rules, apply through the correct offer, and receive the right type of direct deposit, you can earn the full bonus with minimal effort.
Here’s everything you need to know.
Chase $400 Sign Up Bonus Overview
Chase is currently offering a $400 cash bonus to new customers who open a Chase Total Checking account and meet the promotion requirements.
Unlike many competing banks, Chase keeps the qualification process simple. There are no multiple bonus tiers or large deposit requirements.
To earn the bonus, you simply need to:
- Open a Chase Total Checking account using the promotional offer.
- Receive at least $1,000 in qualifying direct deposits within 90 days of opening the account.
For many people, one or two paychecks are enough to meet the requirement.
Who Qualifies for the Chase $400 Bonus?
Not everyone is eligible for this promotion. Chase has several rules regarding previous checking account customers.
Generally, you qualify if:
- You are a new Chase checking customer.
- You have not received a Chase checking bonus within the last two years.
- Your previous Chase checking account was not closed with a negative balance during the past three years.
If you’ve only had a Chase credit card or a Chase savings account, you can still qualify because those products do not affect eligibility for this checking account promotion.
Which Chase Account Gets the Bonus?
The promotion only applies to the Chase Total Checking account.
It does not apply to:
- Chase Secure Banking
- Chase Premier Plus Checking
- Chase High School Checking
- Chase First Banking accounts
Opening the wrong account means you won’t receive the promotional bonus, even if you complete all the other requirements.
Apply Through the Correct Bonus Offer
One of the biggest mistakes applicants make is opening an account without using the promotional offer.
To ensure you’re enrolled:
- Visit the official Chase promotional page for the $400 checking bonus.
- Click the “Open an Account” button from that page.
- Alternatively, request the offer by email if you want to apply later.
Before submitting your application, verify that the $400 promotional offer appears in the application summary.
If the bonus isn’t listed, stop the application and begin again from the promotional page. Once the account is opened without the offer attached, Chase generally will not add the bonus afterward.
What Counts as a Qualifying Direct Deposit?
This is where most people lose the bonus.
For promotional purposes, Chase only counts electronic direct deposits from:
- An employer’s payroll system
- Pension payments
- Government benefit payments
The funds must arrive using your Chase routing and account numbers.
What Does Not Count as Direct Deposit?
Many common transactions do not satisfy the bonus requirement, even if they total more than $1,000.
These include:
- Mobile check deposits
- Paper check deposits
- Zelle transfers
- Peer-to-peer payments
- External bank transfers
- Brokerage transfers
- Investment account transfers
- Wire transfers
- Tax refunds
- Dividend payments
- Retirement distributions
- Debit card transactions
- Micro deposits
For example, transferring $1,000 from another bank into your new Chase account will not qualify for the promotion.
How to Set Up Direct Deposit
After opening your account:
- Log in to your Chase account.
- Locate your account number and routing number.
- Update your employer’s payroll information with your new Chase banking details.
- Ensure at least $1,000 is deposited into the account within 90 days.
If your employer allows split direct deposits, you can direct only part of your paycheck to Chase while continuing to send the remainder to another bank.
Self-Employed? Here’s What You Should Know
Self-employed individuals may have a more difficult time qualifying.
Payroll services such as:
- Gusto Payroll
- QuickBooks Payroll
may generate qualifying payroll transactions.
However, payouts from platforms such as Stripe, PayPal, Venmo, or similar payment processors typically do not count as qualifying direct deposits for this promotion.
If you operate your business through an official payroll system, you may still be eligible.
When Does Chase Pay the Bonus?
Once Chase receives at least $1,000 in qualifying direct deposits within the 90-day window, the bank typically deposits the $400 bonus within 15 days.
That’s considerably faster than many competing bank promotions, which can take several months before paying out.
If you receive your direct deposit shortly after opening the account, it’s possible to receive the full bonus in roughly two months.
One important reminder: do not close or restrict your account before the bonus is deposited. If the account isn’t in good standing when Chase processes the payment, you may forfeit the bonus.
Is the Chase $400 Bonus Taxable?
Yes.
The $400 bonus is considered taxable income.
At the end of the year, Chase will generally issue a Form 1099 reporting the bonus. Depending on your tax bracket, you’ll likely owe taxes on the payment.
Even after taxes, however, most customers still keep the majority of the bonus, making it one of the more valuable checking account promotions currently available.
Is the Chase $400 Sign Up Bonus Worth It?
For anyone already planning to open a Chase checking account, the promotion is an excellent opportunity.
The requirements are relatively easy to satisfy compared to many competing offers, especially for anyone receiving a regular paycheck.
The promotion may not be ideal for people whose income comes exclusively through payment apps, client transfers, or other non-payroll sources, since those transactions often don’t qualify as direct deposits.
For most traditional employees, however, the Chase $400 sign up bonus is one of the simplest bank bonuses available, offering a substantial cash reward for completing a straightforward account setup process.
