The terms.
I got an offer for $300 bonus, fee waived if keep $1500 in the account, but this is better, eat the $20 a month fee and still net $380 (assuming you close on the exact day after the 6 months and before the next month fee hits)
And you don't need direct deposit.
Can this be used for a sole proprietorship?
It os a good deal, but you also get a 1099, so it's probably closer to a 250-300 bonus all said and done.
-1
Account Closing: If the checking account is closed by the client or Chase within six months after opening, we will deduct the bonus amount for that account at closing.
Yes but you need documentation - need an EIN and be registered with county/state (at least that's what they said at my local branch).
Why does it have to be registered at the state? Shouldnt imho
Banker said county or state. Requirements seem to vary based on your state: https://www.chase.com/content/dam/chasecom/en/business-banking/documents/sole-proprietorship-checklist.pdf
Seems to be necessary only if you are DBA. Were you?
says who? you can probably downgrade it to the $10 account after 60 days
You mean instead of just using my name (ie shlomo yankle) I instead used Yankle's ice cream shop? I did but the banker didn't ask me that question before telling me that it was required. Maybe he assumed it was a dba since most businesses don't just use the owners name?I'll add that the banker was very clear that all business types need some form of proof that they exist in addition to an EIN. So I don't think it was just a dba issue but possible that I just got an annoying banker.
+1. I've opened chase business checking accounts in my name without EIN.
Yup, just did it today
