Chase Bank Is Giving Away Money

I don't think there's anyone out there who at this point has not been bombarded with those postcard-size mailers from Chase Bank offering incentives for opening accounts. I must have gotten fifty of them, tossing them in the garbage... but what can I say? With each mailing, I got a little more curious. "$100!" bold white letters proclaimed, then, "$125!" ... later "$150!" ... All they asked was ten minutes of my time to open a new checking account with Chase Bank.

I have been a Fifth Third customer for a long time -- and have had no issues -- so switching and/or supplementing banks was the furthest thing from my mind. Plus... free money? Sounds like a scam. But finally, one little blue postcard caught my eye: "$200!" I'm sorry, did you say $200? Suddenly, Chase found the tipping point. I opened the mailer.

Two days later, I was sitting in a Chase bank, chatting up an associate. Do I have direct deposit? No, I do not. In that case, the Chase Total Free checking account I was opening requires a minimum of $1500 at all times or I will be charged a $10 fee. Sounds good to me. I deposited my $1500 (I think via check) and $200 immediately appeared in my account. The account stayed open for six months, I had a bit of trouble with the log-in and never touched it, used it, or thought about it. Free money! No catch. Just free, free money. I encouraged my boyfriend and friends to take advantage of FREE MONEY but nobody would do it. Their time was too precious or perhaps their emotions too entangled with their current bank.

So a few months passed -- I was walking along my street, looking for my car, when what should catch my eye? A dirty Chase Bank postcard lying on the ground.

FREE MONEY. FREE MONEY ON THE GROUND!

I picked it up and stuffed it in my purse, wondering... could I? Do I dare? Yes, I did indeed dare. I closed my Chase bank account and a week later opened a new one with the new incentive. $200 MORE free dollars were deposited yesterday into my account.

The bankers at the branches have NO incentive to stop you from opening a "new" account, even if you've just closed your old one. You can take advantage of this imperfect system! YOU too can have free money!

Then the banker posed the million dollar question: Did I want to receive another incentive? I was qualified, should I choose, for $150 MORE dollars if I put $10,000 into a Chase savings account.

A year ago, I would have said no. I had worked my ass off to finally earn ten thousand dollars and I liked to look at it, all in one place. Move it? I thought. MOVE it? Could such a thing be possible. I said no. Then I said yes.

I wrote myself a check for ten grand and deposited it at Chase bank this morning.

That's right folks... Chase Bank will have given me $550 FREE DOLLARS. THAT'S ALOT OF FREE MONEY! I have had nothing but good experiences with Chase and the free money certainly doesn't hurt.

I wouldn't call it a scam. More like a scheme. I've been sharing the glory of my Chase Bank scheme with literally everyone I know, bragging about my free money. Ever since becoming a self-employed real estate agent, I've learned how to hustle. People like to keep money at arm's length, not to get close to it, understand it. But when you work for yourself, cash is cash, and you'll take the steps to get it.

I even looked into it online, just to see what people were saying/thinking about the offers, and most seemed to think the "catch" of having a minimum account balance made the offer a scam... I personally don't see the problem. And yes, you do have to keep the account open for six months. Big deal! I even heard people were selling the $200 incentives for $15 on Ebay.

I have enthusiastically advocated everyone do the Chase thing (only go for the free money, not the promotional gift cards.) I think the real reason people don't take advantage of amazing offers like this is that they are afraid of money -- afraid of their OWN money. They are protective of their money and think that if they move their money around, even to can earn more income for them -- or work harder for them -- it will somehow disappear. I think people are emotional about money is ways they are unwilling to admit. Fear is the worst way to approach your money.