Chase had a bonus for a free $200 when you open a checking account and direct deposit your paycheck into it. I'm in Minnesota and it never worked in the past but decided to try anyways and low and behold, it worked! They used to have a little popup when you would click on the checking account section on their website where you would enter your zip code and it would show whats available in your area, but that popup is gone now, you can view the checking accounts and proceed right on to open one.
Also read Chase may be planning to expand and open branches in the Minneapolis/St Paul area, maybe that had something to do with it?
That might very well be it. When applying online for a checking/savings account Chase only allows it if your state has a branch there.
I am sure you are not the only one. The bonus offerings for me do not make any sense however. I am not going to put money into a branch to have a forced minimum deposit and abide by their restrictions to get the bonus. Too much of a hassle as you have to move funds and cancel out the accounts. The banks bring in a lot of money by requiring deposit minimums to waive fees and generate interest and fee based revenue which is opposite what consumers should be doing.
I believe the Chase Finn concept is better as it requires no minimum deposit to maintain an account and they provide bonuses as well if you qualify and want to go through their requirements. I understand why people want to deposit at large national banks because of convenience however and if you meet direct deposit requirements to waive fees instead of minimum balance requirements, you obviously don’t have to meet minimum balances.