Chase is running a rare $900 bonus for opening both a new Chase Total Checking account and a new Chase Savings account at the same time, with a direct deposit and a savings balance requirement. The bonus breaks into $300 for checking, $200 for savings, and an extra $400 if both are opened together.
The offer is targeted, and codes have an expiration date, so claiming a code and applying quickly matters. Eligibility, fees and the fine print are below.
- Total bonus: $900 when both accounts are opened together
- Checking bonus: $300 after direct deposit within 90 days
- Savings bonus: $200 after $15,000 deposit and 90-day balance requirement
- Extra bonus: $400 when both accounts are opened at the same time
- Bonus posting: within 15 days of completing requirements
- Last day to use an existing code: April 19
How Each Piece Works
To collect the $300 on the checking side, you open a Chase Total Checking account and arrange for one electronic direct deposit from an employer, a pension plan, or a government benefits payer to land within 90 days of signing up for the coupon. Peer-to-peer transfers through Zelle do not count, and neither do small verification micro-deposits.
For the $200 on the savings side, the path is heavier. You open a Chase Savings account, fund it with $15,000 or more that is not currently sitting at Chase or one of its affiliates, and keep that balance intact for 90 days from coupon enrollment. Money you shuffle from a different Chase account is explicitly excluded.
For the extra $400, both accounts need to be opened together and every condition for the other two bonuses needs to clear. The full $900 lands within 15 days after the last requirement is met.
What the Accounts Cost
Both accounts carry monthly service fees that can be waived.
| Account | Monthly fee | Waiver path |
|---|---|---|
| Chase Total Checking | $12 | Set up direct deposits of $500+ per month, or maintain $1,500+ minimum daily balance, or carry a $5,000+ average starting-day balance across linked qualifying Chase accounts |
| Chase Savings | $5 | Hold a $300+ minimum daily balance, or set up an automatic $25+ transfer from a linked Chase personal checking account, or hold a qualifying higher-tier Chase checking account |
If you cannot clear any of those waiver paths, the $17 a month in combined fees quietly eats into the bonus over the 90-day window.
Who Is Eligible
You cannot hold an existing Chase checking account if you want the $300, and you cannot already have a Chase savings account if you want the $200. You also cannot have closed a Chase account in the last 90 days, or closed one with a negative balance any time in the past three years. Most applicants will need a Chase branch in their state, even when applying online.
You can earn only one new checking bonus and one new savings bonus every two years from your last coupon enrollment.
Our Analysis
$900 is at the top end of what Chase pays for combined checking and savings bonuses. The historical norm is $600 for the same setup, so this is a meaningful bump.
The savings requirement is the friction. Parking $15,000 in a Chase Savings account for 90 days is feasible if you have the cash and do not need it for other moves. The savings account pays essentially nothing in interest, so the real return on the $15,000 during the 90 days is the $600 in combined bonuses plus the $300 from checking, annualized against the trapped cash. That math is decent, but it is not a substitute for a high-yield savings account.
The checking bonus is easier to clear than the savings piece. A single direct deposit of any size satisfies it.
The catch is the two-year rule. If you have taken a Chase checking or savings bonus in the last two years, you are locked out of part or all of this offer.
Worked Example
Say you have $20,000 in a brokerage cash sweep earning 4.5% and have never held a Chase checking or savings account. Move $15,000 into a new Chase Savings, open a Chase Total Checking with a $500 monthly direct deposit from your paycheck, and complete both requirements within 90 days. You earn $300 from checking, $200 from savings and $400 for opening both. Net result: $900 in bonus money, but you also gave up about $500 in brokerage cash interest over the 90 days. The bonus still wins by a clear margin, but it is not free money.
Bottom Line
Worth doing if you have the $15,000 in cash, no recent Chase bonus, and a paycheck that can be redirected as a direct deposit. Skip if the savings balance requirement would force you to break a higher-yield account for the 90-day window.
Frequently asked questions
How much is the Chase checking and savings bonus?
$900 total when you open a new Chase Total Checking and a new Chase Savings together, complete a direct deposit requirement on the checking side, and meet the $15,000 balance requirement on the savings side.
Does Zelle count as a direct deposit?
No. Zelle and other person-to-person payments do not qualify as direct deposits for the bonus.
What counts as new money for the savings bonus?
Funds not already held at Chase or its affiliates. Money moved from an existing Chase account does not count.
How long do I have to complete the savings requirements?
You have 30 days to fund the account with $15,000 in new money and 90 days from coupon enrollment to maintain that balance.
Can I take both bonuses if I had a Chase account years ago?
The checking offer excludes existing Chase checking customers and the savings offer excludes existing Chase savings customers. Recent bonuses may also lock you out under the two-year rule.