Free $200 Bonus For Opening A Chase Total Checking Account [August 2023]

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This offer is just like the $225 bonus that was previously being offered. Unfortunately, that one’s expired already as of April 20, 2022.

But, it’s still free bonus money from Chase simply for opening an account. Keep reading to find out how you can grab this easy Chase Total Checking bonus.

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Who qualifies for a $200 Total Checking account bonus?

This checking account can be opened by anyone who’s a new Chase checking account customer. The details are similar to every other Total Checking bonus offer by Chase.

Make sure you tick both of the boxes below:

No current Chase checking account active
Must not have closed a Chase checking account anytime within the last 6 months

You’ve got to deposit any amount via direct deposit within 90 days of opening the account. You’ll then receive the $200 as promised into that account. Simple as that. As far as I know, you can deposit $0.01 and still redeem the bonus!

There’s no limitation based on where you live. There’s also no limitation on a per household basis. Everyone in your family can sign up for their own bonus. A family of four can easily rake in $800 doing this.

You can sign up right down below! This is not an affiliate link and we don’t receive a commission. It’s a direct link.

Apply Here

Are there any fees?

Yes, there is a fee of $12 a month to keep this account.

However, there are 3 ways to waive it:

Link a direct deposit totaling $500 or more per month
Keep at least $1,500 in the account at all times (if it dips below $1,500 even for just one day, you’ll pay the fee)
That is, unless you average at least a $5,000 balance in all your Chase accounts per day for the month

Have a low credit score or need an account without any fees? Check out our post, Free $100 Bonus For Opening A Chase Secure Checking Account!

Can I close my Chase Total Checking account at any time?

You can close the account at any time without any penalty. However, if you want to keep the $200 bonus, you’ll have to keep the account open for at least 6 months. Or else, Chase reserves the right to retract the bonus.

If you plan on keeping the account just for the bonus, without meeting the minimum daily balance or monthly deposit, that’s $12 x 6 months = $72 in fees.

$200 minus $72 would still net you a total of $128. Even with the $25 drop in Chase’s bonus offer, it’s still higher than the Chase College Checking account bonus of $100. Still worth it to stick with this one in my opinion even as a college student.

However, if you plan to keep the account long-term, you may want to consider the Chase College checking especially if you won’t be able to keep a $1,500 minimum balance every month. The Total checking account costs $12 per month to keep if you don’t meet the minimum, and that’ll eventually wipe out your bonus.

When do I receive the $200 bonus?

You’ll receive the $200 bonus in the Total Checking account within 15 days of your deposit.

When does the $200 bonus offer expire?

Update: You now have a bit more time to take advantage of this offer.

This $200 bonus offer expires on October 18 , 2023.

~~This $200 bonus offer expires on July 19, 2023.~~

~~This $200 bonus offer expires on April 19, 2023.~~

~~This $200 bonus offer expires on January 25, 2023.~~

~~This $200 bonus offer expires on October 19, 2022.~~

~~This $200 bonus offer expires on July 20, 2022.~~

What about the Chase College Checking account bonus?

There is a specific offer for opening a Chase College Checking account, but that one gives you a $100 bonus (a link to this post is also at the bottom if you’re interested in reading about it later). Even if you’re a college student, I’d recommend you open a Total Checking account instead as the bonus offer is higher at $200.

If you’ve already opened a College Checking account and received the $100 bonus, unfortunately, you’re out of luck. If you’ve opened one without receiving the $100 bonus, great! You can still apply for the $200 Total Checking account bonus.

Remember, you can only qualify for a bonus related to opening any Chase personal checking account once every two years. However, any bonuses related to opening a credit card, business checking account, or investment account with Chase can be stacked on top of this.

In conclusion

This is a bonus I’d sign up for and recommend to everyone, even if you’re a college student and qualify for the college account bonus offer. It’s not like it’s some obscure product from Chase. It’s actually their most popular checking account.

Yes, there is a college student-specific offering as mentioned previously, but it’s much lower at $100.

If you’re interested in learning about that one, check out our post, Free $100 Bonus For Opening A Chase College Checking Account!

I’ve seen a few higher bonuses from Chase than this $200 bonus offer, including the $225 offer preceding this, but this definitely ranks as one of the higher amounts for simply opening a free checking account.

If you’re waiting for a better bonus in the near future, it isn’t guaranteed. Plus, a dollar now is worth more than a dollar later if you factor in the depreciation of the dollar every year due to inflation. I’d really consider signing up your entire family for this, as a family of four banks in a cool $800.