Chase Updates Sapphire Banking Bonus, Now Requires Sign-Up Code to Earn 60k Points

Jan 10, 2019

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Update: Some offers mentioned below are no longer available. 

Chase has been on a mission to grow the Sapphire brand into an all-encompassing financial and lifestyle product, not just a single hunk of metal in your wallet.

In addition to rolling out Sapphire lounges at events all over the country, one of Chase’s biggest improvements in this area has been the introduction of Sapphire Banking. This premium checking account is intended for customers with average balances of $75,000 or more, and comes with perks such as no ATM fees, free online stock and ETF trading, and no exchange rate fees or fees on wire transfers. For more details about this relatively new product you can read our FAQ about Chase Sapphire Banking.

To attract customers to sign up for the new banking product, Chase offered us what we wanted most: a new avenue to earn bonus Ultimate Rewards points. Eligible holders of the Chase Sapphire Preferred CardChase Sapphire Reserve or the no-annual-fee Chase Sapphire who opened or upgraded to a new Sapphire banking account with $75,000 in new deposits were eligible to receive a bonus of 60,000 Ultimate Rewards points, worth $1,200 based on TPG’s valuations.

Chase just slightly tweaked the offer to target only select Sapphire customers. While the benefits of Sapphire banking are unchanged, you’ll now need an offer code to register and earn the 60,000 bonus points. Eligible card holders can receive an offer link here, or through an email from Chase or ads on Simply registering as a Sapphire card holder won’t earn you the bonus anymore. Targeted customers who want to upgrade an existing account can only do so in branch, not online.

To earn the bonus you’ll need to bring $75,000 in new assets to your Sapphire banking account, including the following:

  • Checking accounts (up to nine personal checking accounts, excluding Chase Private Client checking)
  • Personal savings accounts (excluding Chase Private Client Savings)
  • Liquid cards
  • CDs
  • Certain retirement CDs
  • Certain retirement money market accounts and investment and annuity products offered by JPMorgan Chase & Co. or its affiliates and agencies

You must maintain $75,000 in qualifying deposits for 90 days, and Chase will issue a 1099-INT for this bonus, with a value of $600.

Bottom Line

The 60,000-point bonus offer for eligible new Chase Sapphire Banking customers is a great way to pad your Ultimate Rewards points balance, especially if you’ve already maxed out your 5/24 slots with the issuer. If you haven’t yet applied for Sapphire Banking, make sure you receive an offer code first or you might accidentally miss out on the bonus points.

Get a code for the Chase Sapphire Banking 60,000-point offer here. 

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