Here are the details - this was posted directly the front page at chase.com:
http://www.chase.com/ccp/index...25_free_checking_offer
You already enjoy the benefits of Chase. For even more convenience and value, open a Chase Free Checking account with Direct Deposit by March 31, 2008 and you'll receive $125 to thank you for your business.
It's easy to get $125!
1. Apply online by March 31, 2008. Offer available online only.
2. Open a Chase Free Checking account with Direct Deposit.
3. Watch your account. We'll deposit $125 into your new Chase Free Checking account within 6-8 weeks of establishing direct deposit.
You'll also get:
* FREE access to more than 9,000 Chase ATMs
* FREE Online Bill-Pay - including our Online On-Time GuaranteeSM*
* FREE Visa® Check Card with Zero Liability** protection
* FREE Account Alerts sent by phone or e-mail
* FREE access to any of our 3,000 branches nationwide
Take advantage of all Chase has to offer. Open a Chase Free Checking account with Direct Deposit today. But hurry - this offer ends March 31, 2008.
And....the fine print:
Offer valid 2/14/08 through 3/31/08. Chase Free Checking requires a $100 minimum opening deposit of new money (money not currently held by Chase or its affiliates) to qualify for the $125 reward. Chase Free Checking has no monthly service fee when you have a monthly direct deposit. Limit one personal checking account-related reward/premium per customer, per calendar year. Offer not available on account conversions or in combination with any other offer. To qualify for the $125 reward you must open a new checking account online and initiate a repeating direct deposit such as payroll, pension or Social Security. The first direct deposit must be completed within 60 calendar days of account opening. The $125 reward will be deposited into your new account within 6-8 weeks after the initial direct deposit and is not considered part of the minimum opening balance. Checking account must remain open for a minimum of six months or the reward will be debited from the account at closing. Account is subject to approval. Reward is considered interest and will be reported on IRS Form1099-INT. Please note certificate does not need to be forfeited.
And finally....I chatted with a Chase rep online to ask the following questions in regards to the definition of "direct deposit" (for those of us that have the ability to transfer funds electronically from other bank accounts), and the stated requirement on the front page of the online application that you need to purchase checks for $22.95. **To get out of the requirement to purchase checks, you will need to call Chase at 1-800-935-9935 after opening your account to cancel the automatic check order**
Chat InformationYou are now chatting with 'Lorna'
Lorna: Hello, I'm a Chase Banking Specialist. How may I assist you today with your checking account opening?
you: Hello - I have a couple questions about the $125 promotion for opening a new checking account w/ direct deposit
Lorna: Great! I will be more than happy to answer your questions.
you: 1) How do you define "direct deposit"? I have a bank account that allows me to electronically transfer money to this Chase bank account using the routing # and account number. I can schedule this to happen automatically at any interval. Does this count as direct deposit?
Lorna: In order to be eligible to receive the $125.00 cash bonus, the direct deposits must be a payroll, pension or Social Security deposit.
you: OK - how do you determine if it is a payroll deposit? My payroll deposits come through as ACH transactions, which is the same way that I am able to regularly direct deposit money into the Chase account from my other bank account
Lorna: The Merchant ID/Tracking ID used for processing ACH transactions determines if the direct deposit is a payroll, pension or Social Security deposit. I apologize for any inconvenience this may cause you.
you: OK...yeah I would like to recommend changing that - I would much rather just set up automatic deposits from my other bank account than change my direct deposit options with my employer. But that is OK...I understand there is nothing you personally can do about that
So, on to my next question...
you: When I go to the account signup page, it says at the bottom " Note: You will receive statements by mail, but no cleared checks or check images. This is a FREE service. Your first box of checks will be ordered for you. They will arrive 7-10 business days after your account has been processed. Your account will be charged $22.95." Is it required to purchase checks when this account is opened? Or can I choose to not purchase any checks at all?
Lorna: When opening the account online, the option to order checks is automatic. However, you are still able to open the account today and call a Customer Service Representative at 1-800-935-9935 tomorrow to cancel the order and your account will not be charged.
http://www.chase.com/ccp/index...25_free_checking_offer
You already enjoy the benefits of Chase. For even more convenience and value, open a Chase Free Checking account with Direct Deposit by March 31, 2008 and you'll receive $125 to thank you for your business.
It's easy to get $125!
1. Apply online by March 31, 2008. Offer available online only.
2. Open a Chase Free Checking account with Direct Deposit.
3. Watch your account. We'll deposit $125 into your new Chase Free Checking account within 6-8 weeks of establishing direct deposit.
You'll also get:
* FREE access to more than 9,000 Chase ATMs
* FREE Online Bill-Pay - including our Online On-Time GuaranteeSM*
* FREE Visa® Check Card with Zero Liability** protection
* FREE Account Alerts sent by phone or e-mail
* FREE access to any of our 3,000 branches nationwide
Take advantage of all Chase has to offer. Open a Chase Free Checking account with Direct Deposit today. But hurry - this offer ends March 31, 2008.
And....the fine print:
Offer valid 2/14/08 through 3/31/08. Chase Free Checking requires a $100 minimum opening deposit of new money (money not currently held by Chase or its affiliates) to qualify for the $125 reward. Chase Free Checking has no monthly service fee when you have a monthly direct deposit. Limit one personal checking account-related reward/premium per customer, per calendar year. Offer not available on account conversions or in combination with any other offer. To qualify for the $125 reward you must open a new checking account online and initiate a repeating direct deposit such as payroll, pension or Social Security. The first direct deposit must be completed within 60 calendar days of account opening. The $125 reward will be deposited into your new account within 6-8 weeks after the initial direct deposit and is not considered part of the minimum opening balance. Checking account must remain open for a minimum of six months or the reward will be debited from the account at closing. Account is subject to approval. Reward is considered interest and will be reported on IRS Form1099-INT. Please note certificate does not need to be forfeited.
And finally....I chatted with a Chase rep online to ask the following questions in regards to the definition of "direct deposit" (for those of us that have the ability to transfer funds electronically from other bank accounts), and the stated requirement on the front page of the online application that you need to purchase checks for $22.95. **To get out of the requirement to purchase checks, you will need to call Chase at 1-800-935-9935 after opening your account to cancel the automatic check order**
Chat InformationYou are now chatting with 'Lorna'
Lorna: Hello, I'm a Chase Banking Specialist. How may I assist you today with your checking account opening?
you: Hello - I have a couple questions about the $125 promotion for opening a new checking account w/ direct deposit
Lorna: Great! I will be more than happy to answer your questions.
you: 1) How do you define "direct deposit"? I have a bank account that allows me to electronically transfer money to this Chase bank account using the routing # and account number. I can schedule this to happen automatically at any interval. Does this count as direct deposit?
Lorna: In order to be eligible to receive the $125.00 cash bonus, the direct deposits must be a payroll, pension or Social Security deposit.
you: OK - how do you determine if it is a payroll deposit? My payroll deposits come through as ACH transactions, which is the same way that I am able to regularly direct deposit money into the Chase account from my other bank account
Lorna: The Merchant ID/Tracking ID used for processing ACH transactions determines if the direct deposit is a payroll, pension or Social Security deposit. I apologize for any inconvenience this may cause you.
you: OK...yeah I would like to recommend changing that - I would much rather just set up automatic deposits from my other bank account than change my direct deposit options with my employer. But that is OK...I understand there is nothing you personally can do about that
So, on to my next question...you: When I go to the account signup page, it says at the bottom " Note: You will receive statements by mail, but no cleared checks or check images. This is a FREE service. Your first box of checks will be ordered for you. They will arrive 7-10 business days after your account has been processed. Your account will be charged $22.95." Is it required to purchase checks when this account is opened? Or can I choose to not purchase any checks at all?
Lorna: When opening the account online, the option to order checks is automatic. However, you are still able to open the account today and call a Customer Service Representative at 1-800-935-9935 tomorrow to cancel the order and your account will not be charged.
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