$200 Chase Business Checking Bonus (exp May 15 2010)

The $200 Chase Business Checking Bonus is back again. As I’ve posted about and taken advantage of before, you can get a $200 bonus for opening a Chase Business Checking account. To take advantage of the offer you will need an opening deposit of $5,000 (previous offers were $500) and a printable coupon. The coupon expires May 15 2010, but Chase often takes the links down before the coupon expiration so you should print out your coupon now. It’s worth noting there is no requirement you keep $5,000 in the account, only that your opening deposit be at least that amount, so you could withdraw the money shortly after opening the account to avoid tieing up your money.

You can open a free account where the service fee is waived if you do five debit card transactions per month or have an active business credit card (meaning there was a balance at some point in the statement period) linked to the account. To open the account you either need a business license or you have to be a licensed professional (attorney, accountant, etc.).

Be warned that you have to go in the branch for this and depending on the representative you work with this could take up to an hour as they probe you for information on your business and opportunities to sell other products. However, $200 is well worth an hour of my time.

2 comments to $200 Chase Business Checking Bonus (exp May 15 2010)

  • Bala

    Hi,

    If I deposit $5000 to the business checking account and later on take it write a check to deposit it back to my personal account will it be treated as 1099 income and will I have to pay taxes on it?

    Regards
    Bala

  • BillyOceansEleven

    I’m not a qualified tax professional, but I would say not if your personal account is the original source of the funds. It should be considered a loan to the business or a capital contribution and withdrawal which would be a not taxable event. The bonus, however, would be taxable to the business entity.

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