If you’ve been looking for a little extra cash to pad your wallet this fall, Chase Bank is dangling a tempting carrot: a $300 cash bonus for new customers.

But like all good things, there’s a catch—this offer is only available for a limited time, and you’ll need to act before the October 15th deadline.

Many see this as an easy way to boost their budget—if they can avoid the fine print that comes with it.


Starting with the basics. Chase is offering $300 to anyone who opens a new Chase Total Checking account through their special bonus offer page. The process is refreshingly simple:

1. Open a Chase Total Checking Account using the offer link.
2. Set up direct deposits totaling at least $500 within the first 90 days.
3. Wait 15 days after meeting the requirements, and Chase will deposit $300 straight into your account.

That’s it! If you break it down, you only need to set aside about $5.55 a day for 90 days to meet the direct deposit requirement. Not too shabby for a $300 reward.

The final day to open your new account and qualify for the bonus is October 15th. If you’re interested, don’t let this one slip by.


Before you start dreaming about how you’ll spend your $300, there’s a small catch: the Chase Total Checking account comes with a $12 monthly service fee.

However, you can avoid this fee if you meet one of the following requirements each month:

• Have monthly direct deposits totaling $500 or more
• Keep a daily balance of at least $1,500 in the account
• Maintain an average daily balance of $5,000 or more across all your Chase accounts

If you don’t meet these requirements, that $12 fee can quickly eat into your bonus. So, make sure you have a plan to avoid it—otherwise, your free money could end up costing you.


Also read: Wells Fargo is offering a limited-time cash bonus—here’s what you need to know

Chase isn’t the only bank trying to woo new customers.

Wells Fargo, for example, is offering a $325 bonus for opening an Everyday Checking account and setting up $1,000 in direct deposits within 90 days.

The deadline for this offer is also October 15th, so if you’re shopping around, it’s worth comparing the fine print.

While you’re thinking about switching banks, it’s worth noting that overdraft fees are still a hot topic.

Congress recently voted to overturn a rule that would have capped overdraft fees at $5 for big banks like Chase and Bank of America.

For now, those pesky $35 fees are still in play, so always keep an eye on your balance to avoid any unpleasant surprises.


Also read: You might receive $440 from this bank settlement—no forms required

If you’re already considering a new checking account, this is a great way to get a little extra cash. Just make sure you:

• Can meet the direct deposit requirements
• Have a plan to avoid monthly fees
• Don’t mind switching banks or opening a new account

If you’re happy with your current bank and don’t want the hassle, it might not be worth the effort. But for many, $300 is a nice reward for a few minutes of paperwork and a little planning.

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Have you ever taken advantage of a bank bonus offer? Did it go smoothly, or did you run into any surprises? Are you considering jumping on this Chase deal, or do you have questions about how it works?