Get $100 for Opening a Chase Checking Account

Chase has a promotion going until August 14, 2010. When you open a checking account with a minimum of $100, you will receive $100.

The nice thing about this promotion is it can be done online, or at a physical bank. So you can get this deal even if you don't live near a Chase.  If you are going to open this account in a bank location, make sure you print the coupon first from Chase's website.

There are two ways to qualify for the $100 bonus, which will be deposited in the account approximately ten days after you meet one of the qualifying methods.

1. Setup direct deposit
2. Make five debit card transactions (not including ATM withdrawals)

Debit card transactions do not have a minimum value, so you can make five small purchases.

The one thing I want to point out from the fine print is that you must leave the account open at least six months or the $100 will be taken from your balance when you close the account and you must make at least five debit card purchases per statement period to avoid fees ($6 per month).  Therefore, you can't just open the account, get the bonus, and close the account.

If you do not want to use the account, just leave it open for the six months.  The fees will total $36 so instead of making $100, you'll make $64.  That's still better than most current interest rates for six months.  Just make sure you make those first five purchases so you receive the bonus.

Source: Who Said Nothing in Life if Free?