Get $400 bonus for opening a Chase checking account and a Chase savings account

I recently stumbled upon this coupon in my mail:

Chase currently offers $200 for a new checking account and $200 for a new savings account. That's quite a bounty compared to the recent Citibank offer, since the Chase offer comes WITHOUT any fees (if you can deposit about $15,100 for at least 3 months).

Unfortunately, Chase does not have an Ultimate Rewards offer right now, so we need to live with cash instead. The offer above is NOT targeted and can be used until February 28, 2015. You cannot be an existing Chase checking account customer to take advantage of this offer, but you can be an existing credit card or business customer and you will still be eligible.

Keep in mind that NO credit check is required for a new checking account.

Chase Checking Account Bonus

What you need to do is walk into a local branch with the coupon and open a checking account. The basic checking account at Chase is called 'Chase Total Checking'.

The monthly account fee is waived if you have an average daily balance of $1,500 or more than $5,000 in linked accounts. Since I also opened a checking account, I went for the linked accounts option.

The promotion just requires you to deposit $100 and you should get the bonus within 10 days.

I plan to keep the account open for at least 6 months.

Chase Savings Account Bonus

The savings account bonus requires you to deposit $15,000 within 10 days of opening and leave the money in the account for at least 90 days.

The $5 monthly fee is waived if you have a $300 or more daily balance.

I also plan to keep this account open for at least 6 months.

The whole procedure took about 30 minutes. I found it a good use of my time.

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