Chase Offering $100 to Open Checking Account Online

Chase is offering customers $100 to open a checking account online. You must open it online, set up direct deposit, and make five debit card purchases. You'll need to make a minimum $100 cash deposit when opening the account.

Chase Checking has no monthly service fee when you have a direct deposit or five or more debit card purchases post to your account each statement period. As of 3/30/10 Chase Checking is offering a whopping .01% APY, so this is not the account you should use if you are looking for a return on your cash. The best reward checking account is currently paying 4.3% APY on up to $25,000. If you kept a balance of $25,000, that would net you $1,075 over the course of a year. $100 is puny in comparison.

Still, if you plan on opening a Chase account anyway, you might as well get the bonus.

Here's the legal language:

The bonus will be automatically deposited into your new account within 10 business days after the initial direct deposit or five debit card purchases have posted to your account. The bonus is not considered part of the minimum opening deposit. Limit one checking account-related reward/premium per customer, per calendar year. Offer not available on account conversions or in combination with any other offer. Offer not available to existing Chase checking customers.

You can learn more here. The offer expires 4/30/2010.