Chase Sapphire checking 1000$ offer

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02nz
Posts: 3918
Joined: Wed Feb 21, 2018 3:17 pm

Re: Chase Sapphire checking 1000$ offer

Post by 02nz » Sun Jan 26, 2020 6:37 pm

Seasonal wrote:
Sun Jan 26, 2020 5:59 pm
student wrote:
Sun Jan 26, 2020 5:39 pm
Seasonal wrote:
Sun Jan 26, 2020 5:32 pm
student wrote:
Sun Jan 26, 2020 4:29 pm
Seasonal wrote:
Sun Jan 26, 2020 4:02 pm

If you get the chance, would you please check if Short-Term Tax-Exempt Adm (VWSUX) is available. Otherwise, I suppose I could transfer the securities rather than sell, move funds, then buy at Chase.
Yes. It is. Here is my recent experience of transferring from Vanguard to Chase. viewtopic.php?f=1&t=300931
I currently hold VWSUX in a regular (not brokerage) Vanguard account and have elected average cost basis (for simplicity and because ST bonds don't fluctuate that much). I could transfer shares or sell, transfer funds and buy VWSUX at YouInvest. Selling would incur only a relatively small tax cost. OTOH, the process you describe in your post doesn't sound that hard - fill out a form and upload it to Vanguard, if I understand correctly.

How do I get the right form and necessary information? Was it simple enough so that this course would be better than just selling and moving cash?

Would the process be:

1) Talk to Vanguard about the contemplated share transfer.

2) Open a Sapphire checking account online using the bonus link from https://accounts.chase.com/consumer/ban ... rechampion

3) Open a YouInvest account online.

4) Send the transfer form to Vanguard, after which they will handle the transfer.

5) Chase sends me a new ATM /debit card for the new Sapphire checking account. I would now have two Chase checking accounts.

Anything else I should know?
1) is not necessary. You can open a You Invest account and get the transfer form Chase and upload it to Chase, Chase will take care of the rest. If the tax consequence is negligible, I would just sell the shares and transfer the cash to make it easier. Make sure that your Chase Invest account is "linked" to you sapphire checking, whatever that means by calling them. Wait time is a few seconds. You should also "link" your other checking account to it so that no monthly fee for that account. I am guessing "link" means all the accounts that you can see when you log on.
Aha. I was reading your post as requiring uploading the form to Vanguard.

Would you recommend doing all of this online or going to a branch?
+1 on sending the paperwork to Chase not Vanguard. When I did this a year ago the paperwork had to be sent in physically (I think this was for a partial transfer, possible for full transfer I wouldn't have needed to). So I had it notarized at the Chase branch and they gave me a prepaid UPS label to send the form to their Chicago office.

Do check with Chase that they can accept all of the funds you currently have in your Vanguard accounts. If some funds cannot be held at Chase and there are ETF equivalents, you can ask Vanguard to do the conversion before you transfer out.

Seasonal
Posts: 1532
Joined: Sun May 21, 2017 1:49 pm

Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Sun Jan 26, 2020 7:02 pm

02nz wrote:
Sun Jan 26, 2020 6:34 pm
student wrote:
Sun Jan 26, 2020 4:29 pm
Seasonal wrote:
Sun Jan 26, 2020 4:02 pm
student wrote:
Sun Jan 26, 2020 3:11 pm
Not publicly available, you have to get a You Invest account to see that. I have checked and they have everything that I am invested in. I recently transferred my mutual fund holdings at Vanguard to Chase.
If you get the chance, would you please check if Short-Term Tax-Exempt Adm (VWSUX) is available. Otherwise, I suppose I could transfer the securities rather than sell, move funds, then buy at Chase.
Yes. It is. Here is my recent experience of transferring from Vanguard to Chase. viewtopic.php?f=1&t=300931
When I looked it up in You Invest, VWSUX shows as not available, system suggests VWSTX (the investor class) instead. I suggest calling Chase - I vaguely recall that they had some Vanguard funds that you could hold there by transferring in but not buy, maybe this is one.
Would you know what number to call? Or should I just try a local branch?

The difference in expense ratios on admiral and investor classes is 8bp (0.09% v 0.17%), which comes to $60/year on $75,000. This was the only fund I was going to hold at Chase.

02nz
Posts: 3918
Joined: Wed Feb 21, 2018 3:17 pm

Re: Chase Sapphire checking 1000$ offer

Post by 02nz » Sun Jan 26, 2020 7:23 pm

Seasonal wrote:
Sun Jan 26, 2020 7:02 pm
02nz wrote:
Sun Jan 26, 2020 6:34 pm
student wrote:
Sun Jan 26, 2020 4:29 pm
Seasonal wrote:
Sun Jan 26, 2020 4:02 pm
student wrote:
Sun Jan 26, 2020 3:11 pm
Not publicly available, you have to get a You Invest account to see that. I have checked and they have everything that I am invested in. I recently transferred my mutual fund holdings at Vanguard to Chase.
If you get the chance, would you please check if Short-Term Tax-Exempt Adm (VWSUX) is available. Otherwise, I suppose I could transfer the securities rather than sell, move funds, then buy at Chase.
Yes. It is. Here is my recent experience of transferring from Vanguard to Chase. viewtopic.php?f=1&t=300931
When I looked it up in You Invest, VWSUX shows as not available, system suggests VWSTX (the investor class) instead. I suggest calling Chase - I vaguely recall that they had some Vanguard funds that you could hold there by transferring in but not buy, maybe this is one.
Would you know what number to call? Or should I just try a local branch?

The difference in expense ratios on admiral and investor classes is 8bp (0.09% v 0.17%), which comes to $60/year on $75,000. This was the only fund I was going to hold at Chase.
(800) 392 5749

BTW I see above that you wrote you'd have two Chase checking accounts, presumably because you already have a checking account with Chase? Check the terms of the offer, but for the offer I had, you could upgrade an existing checking account to Sapphire to get the bonus, no need to open a whole new account.

student
Posts: 4805
Joined: Fri Apr 03, 2015 6:58 am

Re: Chase Sapphire checking 1000$ offer

Post by student » Sun Jan 26, 2020 9:26 pm

02nz wrote:
Sun Jan 26, 2020 6:34 pm
student wrote:
Sun Jan 26, 2020 4:29 pm
Seasonal wrote:
Sun Jan 26, 2020 4:02 pm
student wrote:
Sun Jan 26, 2020 3:11 pm
Not publicly available, you have to get a You Invest account to see that. I have checked and they have everything that I am invested in. I recently transferred my mutual fund holdings at Vanguard to Chase.
If you get the chance, would you please check if Short-Term Tax-Exempt Adm (VWSUX) is available. Otherwise, I suppose I could transfer the securities rather than sell, move funds, then buy at Chase.
Yes. It is. Here is my recent experience of transferring from Vanguard to Chase. viewtopic.php?f=1&t=300931
When I looked it up in You Invest, VWSUX shows as not available, system suggests VWSTX (the investor class) instead. I suggest calling Chase - I vaguely recall that they had some Vanguard funds that you could hold there by transferring in but not buy, maybe this is one.
Interesting. I double checked and even tried the trade button and it brought me to the correct screen.
Last edited by student on Sun Jan 26, 2020 9:31 pm, edited 1 time in total.

student
Posts: 4805
Joined: Fri Apr 03, 2015 6:58 am

Re: Chase Sapphire checking 1000$ offer

Post by student » Sun Jan 26, 2020 9:28 pm

Seasonal wrote:
Sun Jan 26, 2020 5:59 pm
student wrote:
Sun Jan 26, 2020 5:39 pm
Seasonal wrote:
Sun Jan 26, 2020 5:32 pm
student wrote:
Sun Jan 26, 2020 4:29 pm
Seasonal wrote:
Sun Jan 26, 2020 4:02 pm

If you get the chance, would you please check if Short-Term Tax-Exempt Adm (VWSUX) is available. Otherwise, I suppose I could transfer the securities rather than sell, move funds, then buy at Chase.
Yes. It is. Here is my recent experience of transferring from Vanguard to Chase. viewtopic.php?f=1&t=300931
I currently hold VWSUX in a regular (not brokerage) Vanguard account and have elected average cost basis (for simplicity and because ST bonds don't fluctuate that much). I could transfer shares or sell, transfer funds and buy VWSUX at YouInvest. Selling would incur only a relatively small tax cost. OTOH, the process you describe in your post doesn't sound that hard - fill out a form and upload it to Vanguard, if I understand correctly.

How do I get the right form and necessary information? Was it simple enough so that this course would be better than just selling and moving cash?

Would the process be:

1) Talk to Vanguard about the contemplated share transfer.

2) Open a Sapphire checking account online using the bonus link from https://accounts.chase.com/consumer/ban ... rechampion

3) Open a YouInvest account online.

4) Send the transfer form to Vanguard, after which they will handle the transfer.

5) Chase sends me a new ATM /debit card for the new Sapphire checking account. I would now have two Chase checking accounts.

Anything else I should know?
1) is not necessary. You can open a You Invest account and get the transfer form Chase and upload it to Chase, Chase will take care of the rest. If the tax consequence is negligible, I would just sell the shares and transfer the cash to make it easier. Make sure that your Chase Invest account is "linked" to you sapphire checking, whatever that means by calling them. Wait time is a few seconds. You should also "link" your other checking account to it so that no monthly fee for that account. I am guessing "link" means all the accounts that you can see when you log on.
Aha. I was reading your post as requiring uploading the form to Vanguard.

Would you recommend doing all of this online or going to a branch?
I signed up at the branch because I want a person that I can talk to if there is a hiccup. However, you have to open the You Invest account online. The person at the branch should be able to tell you.

02nz
Posts: 3918
Joined: Wed Feb 21, 2018 3:17 pm

Re: Chase Sapphire checking 1000$ offer

Post by 02nz » Sun Jan 26, 2020 11:01 pm

student wrote:
Sun Jan 26, 2020 9:26 pm
02nz wrote:
Sun Jan 26, 2020 6:34 pm
student wrote:
Sun Jan 26, 2020 4:29 pm
Seasonal wrote:
Sun Jan 26, 2020 4:02 pm
student wrote:
Sun Jan 26, 2020 3:11 pm
Not publicly available, you have to get a You Invest account to see that. I have checked and they have everything that I am invested in. I recently transferred my mutual fund holdings at Vanguard to Chase.
If you get the chance, would you please check if Short-Term Tax-Exempt Adm (VWSUX) is available. Otherwise, I suppose I could transfer the securities rather than sell, move funds, then buy at Chase.
Yes. It is. Here is my recent experience of transferring from Vanguard to Chase. viewtopic.php?f=1&t=300931
When I looked it up in You Invest, VWSUX shows as not available, system suggests VWSTX (the investor class) instead. I suggest calling Chase - I vaguely recall that they had some Vanguard funds that you could hold there by transferring in but not buy, maybe this is one.
Interesting. I double checked and even tried the trade button and it brought me to the correct screen.
Here are the messages I get when I try to purchase VWSUX:
This mutual fund share class is not available for purchase (323951)
VWSTX is the available share class for this mutual fund (323952)

student
Posts: 4805
Joined: Fri Apr 03, 2015 6:58 am

Re: Chase Sapphire checking 1000$ offer

Post by student » Mon Jan 27, 2020 8:32 am

02nz wrote:
Sun Jan 26, 2020 11:01 pm
student wrote:
Sun Jan 26, 2020 9:26 pm
02nz wrote:
Sun Jan 26, 2020 6:34 pm
student wrote:
Sun Jan 26, 2020 4:29 pm
Seasonal wrote:
Sun Jan 26, 2020 4:02 pm

If you get the chance, would you please check if Short-Term Tax-Exempt Adm (VWSUX) is available. Otherwise, I suppose I could transfer the securities rather than sell, move funds, then buy at Chase.
Yes. It is. Here is my recent experience of transferring from Vanguard to Chase. viewtopic.php?f=1&t=300931
When I looked it up in You Invest, VWSUX shows as not available, system suggests VWSTX (the investor class) instead. I suggest calling Chase - I vaguely recall that they had some Vanguard funds that you could hold there by transferring in but not buy, maybe this is one.
Interesting. I double checked and even tried the trade button and it brought me to the correct screen.
Here are the messages I get when I try to purchase VWSUX:
This mutual fund share class is not available for purchase (323951)
VWSTX is the available share class for this mutual fund (323952)
ok. I never actually hit the trade button before. Thanks.

Seasonal
Posts: 1532
Joined: Sun May 21, 2017 1:49 pm

Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Mon Jan 27, 2020 8:44 am

The question is then whether I can transfer in shares of VWSUX to a YouInvest account, even though I would not be able to buy those shares through YouInvest. I suppose there's also the issue of what to do with dividends.

student
Posts: 4805
Joined: Fri Apr 03, 2015 6:58 am

Re: Chase Sapphire checking 1000$ offer

Post by student » Mon Jan 27, 2020 9:01 am

Seasonal wrote:
Mon Jan 27, 2020 8:44 am
The question is then whether I can transfer in shares of VWSUX to a YouInvest account, even though I would not be able to buy those shares through YouInvest. I suppose there's also the issue of what to do with dividends.
I think then it is best to call them or ask them in branch.

Seasonal
Posts: 1532
Joined: Sun May 21, 2017 1:49 pm

Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Mon Jan 27, 2020 9:31 am

student wrote:
Mon Jan 27, 2020 9:01 am
Seasonal wrote:
Mon Jan 27, 2020 8:44 am
The question is then whether I can transfer in shares of VWSUX to a YouInvest account, even though I would not be able to buy those shares through YouInvest. I suppose there's also the issue of what to do with dividends.
I think then it is best to call them or ask them in branch.
I plan to call later today and report back. It's usually not best to try first thing on a Monday.

student
Posts: 4805
Joined: Fri Apr 03, 2015 6:58 am

Re: Chase Sapphire checking 1000$ offer

Post by student » Mon Jan 27, 2020 9:43 am

Seasonal wrote:
Mon Jan 27, 2020 9:31 am
student wrote:
Mon Jan 27, 2020 9:01 am
Seasonal wrote:
Mon Jan 27, 2020 8:44 am
The question is then whether I can transfer in shares of VWSUX to a YouInvest account, even though I would not be able to buy those shares through YouInvest. I suppose there's also the issue of what to do with dividends.
I think then it is best to call them or ask them in branch.
I plan to call later today and report back. It's usually not best to try first thing on a Monday.
Great. Last time I called them. 0 wait time.

Seasonal
Posts: 1532
Joined: Sun May 21, 2017 1:49 pm

Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Mon Jan 27, 2020 11:43 am

student wrote:
Mon Jan 27, 2020 9:01 am
Seasonal wrote:
Mon Jan 27, 2020 8:44 am
The question is then whether I can transfer in shares of VWSUX to a YouInvest account, even though I would not be able to buy those shares through YouInvest. I suppose there's also the issue of what to do with dividends.
I think then it is best to call them or ask them in branch.
I just called. Zero wait time and a very helpful CSR. He didn't know the answer, but put me on a short hold and checked.

You can't buy the admiral shares in YouInvest, but can transfer them in. You probably can't reinvest dividends.

I'll sleep on it, then create a YouInvest account, sign up for the Sapphire checking, make sure everything is linked, then work on transferring the VWSUX shares in from Vanguard. CSR thought that could now be done online since Vanguard is part of ACATS, but we shall see if that's changed from your experience.

Thanks!

ofckrupke
Posts: 739
Joined: Mon Jan 10, 2011 2:26 pm

Re: Chase Sapphire checking 1000$ offer

Post by ofckrupke » Mon Jan 27, 2020 1:14 pm

Seasonal wrote:
Mon Jan 27, 2020 11:43 am
I'll sleep on it, then create a YouInvest account, sign up for the Sapphire checking, make sure everything is linked, then work on transferring the VWSUX shares in from Vanguard. CSR thought that could now be done online since Vanguard is part of ACATS
Only in a complete sweep from the source account; otherwise, paper/faxed form required.

I wasn't about to give Chase/YouInvest a connection to an external brokerage account anyway, so elected instead to pull in cash from a (normally empty) external deposit account attached to that brokerage account. Done this way, the least-time-out-of-market sequence is $25k every fourth business day. This is because YouInvest puts a 4 day hold on incoming funds, but subject to a $25k exclusion covering the union of otherwise shackled sub-4th-day new money.

An interesting side note is that Vanguard's Treasury MMF VUSXX, having only an Admiral share class, and at $50k minimum starting investment for retail accounts at the mother ship, can be had at YouInvest for $3k starting investment.

student
Posts: 4805
Joined: Fri Apr 03, 2015 6:58 am

Re: Chase Sapphire checking 1000$ offer

Post by student » Mon Jan 27, 2020 1:29 pm

Seasonal wrote:
Mon Jan 27, 2020 11:43 am
student wrote:
Mon Jan 27, 2020 9:01 am
Seasonal wrote:
Mon Jan 27, 2020 8:44 am
The question is then whether I can transfer in shares of VWSUX to a YouInvest account, even though I would not be able to buy those shares through YouInvest. I suppose there's also the issue of what to do with dividends.
I think then it is best to call them or ask them in branch.
I just called. Zero wait time and a very helpful CSR. He didn't know the answer, but put me on a short hold and checked.

You can't buy the admiral shares in YouInvest, but can transfer them in. You probably can't reinvest dividends.

I'll sleep on it, then create a YouInvest account, sign up for the Sapphire checking, make sure everything is linked, then work on transferring the VWSUX shares in from Vanguard. CSR thought that could now be done online since Vanguard is part of ACATS, but we shall see if that's changed from your experience.

Thanks!
I believe Vanguard does participate in ACATS but I was told that they don't accept electronic signature. Hence I need to upload the second form.

Seasonal
Posts: 1532
Joined: Sun May 21, 2017 1:49 pm

Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Mon Jan 27, 2020 2:23 pm

ofckrupke wrote:
Mon Jan 27, 2020 1:14 pm
Seasonal wrote:
Mon Jan 27, 2020 11:43 am
I'll sleep on it, then create a YouInvest account, sign up for the Sapphire checking, make sure everything is linked, then work on transferring the VWSUX shares in from Vanguard. CSR thought that could now be done online since Vanguard is part of ACATS
Only in a complete sweep from the source account; otherwise, paper/faxed form required.

I wasn't about to give Chase/YouInvest a connection to an external brokerage account anyway, so elected instead to pull in cash from a (normally empty) external deposit account attached to that brokerage account. Done this way, the least-time-out-of-market sequence is $25k every fourth business day. This is because YouInvest puts a 4 day hold on incoming funds, but subject to a $25k exclusion covering the union of otherwise shackled sub-4th-day new money.

An interesting side note is that Vanguard's Treasury MMF VUSXX, having only an Admiral share class, and at $50k minimum starting investment for retail accounts at the mother ship, can be had at YouInvest for $3k starting investment.
VUSXX would result in more taxes than VWUSX, but the additional yield (SEC yield 1.53% v. 1.19%) seems to make up for it. Moving cash would be simpler.

I'm not worried about a few days interest on a MMF or ST bond fund.

ofckrupke
Posts: 739
Joined: Mon Jan 10, 2011 2:26 pm

Re: Chase Sapphire checking 1000$ offer

Post by ofckrupke » Mon Jan 27, 2020 3:08 pm

Seasonal wrote:
Mon Jan 27, 2020 2:23 pm
VUSXX would result in more taxes than VWUSX, but the additional yield (SEC yield 1.53% v. 1.19%) seems to make up for it. Moving cash would be simpler.
I'm not out to starve the governments; I just care about my after-tax yield. (It's been a while since VWSUX was a horse in my race.)

WRT moving cash: at least one person in the Bogleheads reporting history of YouInvest-involved new money bonuses has claimed to have run afoul of a catch-22-worthy pitfall by transferring outside cash first to their Chase deposit account on its path to YouInvest; the subsequent intra-Chase transfer counted amazingly as a debit in the net-new-money tally at the deposit account, whereas in the YouInvest account the same inflow could not count as new money because it was not from an external source. They apparently didn't get the bonus because the retention criterion failed as a result.
So I made a point of pulling $ directly to the YouInvest account from my outside source.
Last edited by ofckrupke on Mon Jan 27, 2020 3:14 pm, edited 1 time in total.

Seasonal
Posts: 1532
Joined: Sun May 21, 2017 1:49 pm

Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Mon Jan 27, 2020 3:13 pm

ofckrupke wrote:
Mon Jan 27, 2020 3:08 pm
Seasonal wrote:
Mon Jan 27, 2020 2:23 pm
VUSXX would result in more taxes than VWUSX, but the additional yield (SEC yield 1.53% v. 1.19%) seems to make up for it. Moving cash would be simpler.
I'm not out to starve the governments; I just care about my after-tax yield. (It's been a while since VWSUX was a horse in my race.)

WRT moving cash: at least one person in the Bogleheads reporting history of YouInvest-involved new money bonuses has claimed to have run afoul of a catch-22 quality pitfall by transferring outside cash first to their Chase deposit account on its path to YouInvest; the subsequent intra-Chase transfer counted amazingly as a debit in the net-new-money tally at the deposit account, whereas in the YouInvest account the same inflow could not count as new money because it was not from an external source. They apparently didn't get the bonus because the retention criterion failed as a result.
So I made a point of pulling $ directly to the YouInvest account from my outside source.
I just noticed that distribution yield (latest distribution times twelve, compared to price) is a lot closer than SEC yield. This would seem the relevant metric, although I just started a new thread to see if I'm missing something.

I'm looking for the Sapphire bonus rather than a YouInvest bonus, so I'd hope it wouldn't matter where I transfer, especially since I'd link accounts.

ofckrupke
Posts: 739
Joined: Mon Jan 10, 2011 2:26 pm

Re: Chase Sapphire checking 1000$ offer

Post by ofckrupke » Mon Jan 27, 2020 3:40 pm

Seasonal wrote:
Mon Jan 27, 2020 3:13 pm
I'm looking for the Sapphire bonus rather than a YouInvest bonus, so I'd hope it wouldn't matter where I transfer, especially since I'd link accounts.
You may expect too much; I think the failed case recollected above was also a Sapphire bonus. Also, JPMI and Chase Bank are not a single monolithic entity and there is definitely some operational firewalling in place even as the component entities try to gain some advantage in synergy from YouInvest. So it would not surprise me at all to find that as far as some level of bank management is concerned, YouInvest is only different from a non JPM/Chase brokerage account in that they are obliged to aggregate its daily flows or nightly balances with those of the deposit accounts for various programmatic purposes, but with the detailed rules for aggregation left to the bank. It may not be required that intra-Chase flows be symmetrically accounted for bonus/retention criteria, even if it is plainly the reasonable, correct way to do it.

But it could also be that in the interim, such perversion was determined internally to be a bug rather than a feature, and fixed.

Seasonal
Posts: 1532
Joined: Sun May 21, 2017 1:49 pm

Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Mon Jan 27, 2020 4:00 pm

ofckrupke wrote:
Mon Jan 27, 2020 3:40 pm
Seasonal wrote:
Mon Jan 27, 2020 3:13 pm
I'm looking for the Sapphire bonus rather than a YouInvest bonus, so I'd hope it wouldn't matter where I transfer, especially since I'd link accounts.
You may expect too much; I think the failed case recollected above was also a Sapphire bonus. Also, JPMI and Chase Bank are not a single monolithic entity and there is definitely some operational firewalling in place even as the component entities try to gain some advantage in synergy from YouInvest. So it would not surprise me at all to find that as far as some level of bank management is concerned, YouInvest is only different from a non JPM/Chase brokerage account in that they are obliged to aggregate its daily flows or nightly balances with those of the deposit accounts for various programmatic purposes, but with the detailed rules for aggregation left to the bank. It may not be required that intra-Chase flows be symmetrically accounted for bonus/retention criteria, even if it is plainly the reasonable, correct way to do it.
Then it seems safer to transfer directly to YouInvest. If I'm transferring shares, that's easy. If cash, it would take a bit to set up transfers from Vanguard to the YouInvest account,as Vanguard wants to do test deposits and other verification.

Do you have any additional information for finding the other thread?

ofckrupke
Posts: 739
Joined: Mon Jan 10, 2011 2:26 pm

Re: Chase Sapphire checking 1000$ offer

Post by ofckrupke » Mon Jan 27, 2020 5:11 pm

Seasonal wrote:
Mon Jan 27, 2020 4:00 pm
If cash, it would take a bit to set up transfers from Vanguard to the YouInvest account,as Vanguard wants to do test deposits and other verification.

Do you have any additional information for finding the other thread?
Actually the YouInvest account # doesn't appear in the format of a bank deposit account, so it may not be easy or possible to set up ACH push from Vanguard. That's another reason I did pulls from a (non-Chase) deposit account (after a verification process at YouInvest that was completed overnight, standard protocol of push/pull/customer verify #s) that was close-linked to my brokerage account. Someone else may have figured out in two seconds what I couldn't though.

So far I haven't uncovered the original account of that particular Chase bonus gone wrong story, sorry.

Seasonal
Posts: 1532
Joined: Sun May 21, 2017 1:49 pm

Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Tue Jan 28, 2020 4:52 am

ofckrupke wrote:
Mon Jan 27, 2020 3:40 pm
Seasonal wrote:
Mon Jan 27, 2020 3:13 pm
I'm looking for the Sapphire bonus rather than a YouInvest bonus, so I'd hope it wouldn't matter where I transfer, especially since I'd link accounts.
You may expect too much; I think the failed case recollected above was also a Sapphire bonus. Also, JPMI and Chase Bank are not a single monolithic entity and there is definitely some operational firewalling in place even as the component entities try to gain some advantage in synergy from YouInvest. So it would not surprise me at all to find that as far as some level of bank management is concerned, YouInvest is only different from a non JPM/Chase brokerage account in that they are obliged to aggregate its daily flows or nightly balances with those of the deposit accounts for various programmatic purposes, but with the detailed rules for aggregation left to the bank. It may not be required that intra-Chase flows be symmetrically accounted for bonus/retention criteria, even if it is plainly the reasonable, correct way to do it.

But it could also be that in the interim, such perversion was determined internally to be a bug rather than a feature, and fixed.
Another bonus question: I have a chunk of money in a current Chase checking account. If I transfer $75,000 in mutual fund shares to YouInvest, then later use some of the current checking balance to pay bills, will I be denied the bonus?

ctfish
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Joined: Thu Aug 08, 2013 6:52 pm

Re: Chase Sapphire checking 1000$ offer

Post by ctfish » Tue Jan 28, 2020 9:45 am

Chase doesn't offer tenants by entirety account. Nor does eTrade ...
Deal breaker.

SlowMovingInvestor
Posts: 1736
Joined: Sun Sep 11, 2016 11:27 am

Re: Chase Sapphire checking 1000$ offer

Post by SlowMovingInvestor » Tue Jan 28, 2020 9:56 am

Seasonal wrote:
Tue Jan 28, 2020 4:52 am
[Another bonus question: I have a chunk of money in a current Chase checking account. If I transfer $75,000 in mutual fund shares to YouInvest, then later use some of the current checking balance to pay bills, will I be denied the bonus?
If inflows - outflows < 75K for the period from when you enrolled to some period afterwards (90 days after transfer is completed), quite likely yes.

Seasonal
Posts: 1532
Joined: Sun May 21, 2017 1:49 pm

Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Tue Jan 28, 2020 10:22 am

SlowMovingInvestor wrote:
Tue Jan 28, 2020 9:56 am
Seasonal wrote:
Tue Jan 28, 2020 4:52 am
[Another bonus question: I have a chunk of money in a current Chase checking account. If I transfer $75,000 in mutual fund shares to YouInvest, then later use some of the current checking balance to pay bills, will I be denied the bonus?
If inflows - outflows < 75K for the period from when you enrolled to some period afterwards (90 days after transfer is completed), quite likely yes.
I suppose the answer is either to pay the bills early and wait a bit to enroll or to just add enough new money so that there's a net of 75k for at least the 90 day period.

ofckrupke
Posts: 739
Joined: Mon Jan 10, 2011 2:26 pm

Re: Chase Sapphire checking 1000$ offer

Post by ofckrupke » Tue Jan 28, 2020 10:35 am

SlowMovingInvestor wrote:
Tue Jan 28, 2020 9:56 am
Seasonal wrote:
Tue Jan 28, 2020 4:52 am
[Another bonus question: I have a chunk of money in a current Chase checking account. If I transfer $75,000 in mutual fund shares to YouInvest, then later use some of the current checking balance to pay bills, will I be denied the bonus?
If inflows - outflows < 75K for the period from when you enrolled to some period afterwards (90 days after transfer is completed), quite likely yes.
I did not find guidance on this, but also expect that checking account debits do reduce an aggregated net-new-money counter that needs to stay above $75k for 90d upon reaching/exceeding that threshold - and I attend to this thesis. So I'm going to wait until the bonus is deposited to draw the deposit account down to a lower working float range. I do expect that the checking account's rules for ordering of daily credits and debits would be followed, which means the counter's overnight value should be the only one of importance each day...but I don't expect to be cutting things close enough for that to matter.

BTW when I called the bank-side CS, all the guy could tell me was that the first of two boxes (bonus requires two actions: new money inflow to the threshold, and maintain for 90 days) is now checkmarked. He could not see, or couldn't admit to being able to see, an actual net-new-money counter. So the details of the actual arithmetic rule set in force will remain speculative - unless someone involved in its coding checks in, and I don't expect that.

Seasonal
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Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Tue Jan 28, 2020 11:03 am

Final (I hope) check:

1) Open a Sapphire checking account online using the bonus link.

2) Open a YouInvest account online.

3) Make sure I can see both new accounts as part of my (and my wife's) online accounts, otherwise message or call Chase to link them.

4) Note total current balance in our existing Chase savings and checking accounts.

5) Fill out paperwork to transfer $75k of VWSUX from Vanguard, scan and upload to YouInvest.

6) Send in some additional cash and monitor to make sure the total balance of all Chase bank accounts and YouInvest exceeds today's balance by at least $75k for at least 90 days.

We'd keep our current Chase checking, in case we later decide we don't like Sapphire checking or YouInvest. A main purpose of this exercise is to avoid fees on non-US ATMs and wire transfers.

student
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Re: Chase Sapphire checking 1000$ offer

Post by student » Tue Jan 28, 2020 11:20 am

Seasonal wrote:
Tue Jan 28, 2020 11:03 am
Final (I hope) check:

1) Open a Sapphire checking account online using the bonus link.

2) Open a YouInvest account online.

3) Make sure I can see both new accounts as part of my (and my wife's) online accounts, otherwise message or call Chase to link them.

4) Note total current balance in our existing Chase savings and checking accounts.

5) Fill out paperwork to transfer $75k of VWSUX from Vanguard, scan and upload to YouInvest.

6) Send in some additional cash and monitor to make sure the total balance of all Chase bank accounts and YouInvest exceeds today's balance by at least $75k for at least 90 days.

We'd keep our current Chase checking, in case we later decide we don't like Sapphire checking or YouInvest. A main purpose of this exercise is to avoid fees on non-US ATMs and wire transfers.
Seems like a good plan.

ofckrupke
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Re: Chase Sapphire checking 1000$ offer

Post by ofckrupke » Tue Jan 28, 2020 11:48 am

On the heels of #3 I chose to call the JPM-side CS system; the rep there was able to confirm that $75k/$1000 bonus logic had in fact attached itself to this YouInvest account...which, after all, hadn't even existed when my bonus confirmation code had been generated over on the banking side. To me, this call established that assets pulled in from outside Chase/JPM to YouInvest would surely upon landing be counted for the bonus.
Also, wrt #4, I believe that the sum of deposit account balances "on" [at the end of] the day I presented a bonus code and got a confirmation code were probably considered the starting point. In my case, the net-new-money counter likely decremented first into negative territory as outstanding checks paid from a deposit account before the first slug of new money arrived over on the YouInvest side.

02nz
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Re: Chase Sapphire checking 1000$ offer

Post by 02nz » Tue Jan 28, 2020 11:57 am

Seasonal wrote:
Mon Jan 27, 2020 4:00 pm
Do you have any additional information for finding the other thread?
Is this the thread you're looking for? viewtopic.php?t=301398

FWIW I've done checking, savings, Sapphire, and many credit card bonuses with Chase many times and never had an issue. Bonuses post quickly.

Seasonal
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Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Thu Jan 30, 2020 7:25 am

We've now opened the Sapphire Checking account and YouInvest account and I can see them when I log on to Chase.

FWIW and in case others are in the same position:

I'm starting to try to figure out how to transfer mutual fund shares from Vanguard. As noted, you can't do partial account transfers online: "We're currently only supporting full account transfers online. If you need to initiate a partial transfer, or if your account contains ineligible securities, please complete the Account Transfer Form or contact Customer Service at 1-800-392-5749."

You can't fill out a form and scan it "Submit form online by Secure Message. You'll need a Chase online profile with a username and password as well as a printer and scanner. Note: This option isn't available for the Account Transfer Request or depositing checks or physical securities." "Submit by mail or fax. You’ll need a printer and maybe a fax machine. Faxing isn't an option for Account Transfer Requests or deposits of checks or physical securities."

It appears I can't even transfer an entire account. When I click the online transfer button the first thing I see is "This account is not eligible for an online transfer."

It would be nice if I could have Vanguard push the shares.

ETA: Chase says I can have Vanguard push the shares, but Vanguard says this is not possible.

ETA2: Vanguard says it's possible if we convert our account to brokerage and fill out their paperwork.
Last edited by Seasonal on Thu Jan 30, 2020 10:52 am, edited 3 times in total.

Blue456
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Re: Chase Sapphire checking 1000$ offer

Post by Blue456 » Thu Jan 30, 2020 8:07 am

batpot wrote:
Tue Oct 01, 2019 10:24 am
random_walker wrote:
Tue Oct 01, 2019 10:12 am
batpot wrote:
Tue Oct 01, 2019 9:45 am
The much more attractive offer is the $600 on $15k.
https://www.doctorofcredit.com/chase-60 ... ngs-bonus/
Treated like a 6 month CD, it earns 8%, but you have to apply in person.
This is a good offer indeed but I don't like to mess with my direct deposit (paycheck/pension) frequently:

> To qualify for bonus: direct deposit is required.
> To avoid monthly fees: Have monthly direct deposits totaling $500 or more.
You skipped the last bullet point:
[*]Keep an average daily balance of $5,000 or more in any combination of qualifying Chase checking, savings and other balances

You have $15k in the savings, and that satisfies the checking fee waiver.
Unless someone at the branch makes a “mistake” and doesn’t link checking and savings account. In which case you will be charged $15 per month indefinitely until you discover their sneakiness.

Seasonal
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Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Thu Jan 30, 2020 2:23 pm

ofckrupke wrote:
Mon Jan 27, 2020 1:14 pm
Seasonal wrote:
Mon Jan 27, 2020 11:43 am
I'll sleep on it, then create a YouInvest account, sign up for the Sapphire checking, make sure everything is linked, then work on transferring the VWSUX shares in from Vanguard. CSR thought that could now be done online since Vanguard is part of ACATS
Only in a complete sweep from the source account; otherwise, paper/faxed form required.

I wasn't about to give Chase/YouInvest a connection to an external brokerage account anyway, so elected instead to pull in cash from a (normally empty) external deposit account attached to that brokerage account. Done this way, the least-time-out-of-market sequence is $25k every fourth business day. This is because YouInvest puts a 4 day hold on incoming funds, but subject to a $25k exclusion covering the union of otherwise shackled sub-4th-day new money.

An interesting side note is that Vanguard's Treasury MMF VUSXX, having only an Admiral share class, and at $50k minimum starting investment for retail accounts at the mother ship, can be had at YouInvest for $3k starting investment.
I don't mind if Chase pulls from my main Vanguard account, but I'd rather not give them a complete Vanguard statement, since it includes all holdings in all of my Vanguard accounts, which seems to be a lot more information than they need. Do you have any learning on whether giving them only the relevant portions of a brokerage statement will suffice?

ofckrupke
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Re: Chase Sapphire checking 1000$ offer

Post by ofckrupke » Thu Jan 30, 2020 4:57 pm

Seasonal wrote:
Thu Jan 30, 2020 2:23 pm
ofckrupke wrote:
Mon Jan 27, 2020 1:14 pm
[...]
I wasn't about to give Chase/YouInvest a connection to an external brokerage account anyway, so elected instead to pull in cash from a (normally empty) external deposit account attached to that brokerage account. Done this way, the least-time-out-of-market sequence is $25k every fourth business day. This is because YouInvest puts a 4 day hold on incoming funds, but subject to a $25k exclusion covering the union of otherwise shackled sub-4th-day new money. [...]
I don't mind if Chase pulls from my main Vanguard account, but I'd rather not give them a complete Vanguard statement, since it includes all holdings in all of my Vanguard accounts, which seems to be a lot more information than they need. Do you have any learning on whether giving them only the relevant portions of a brokerage statement will suffice?
I would be the last to answer the question I've bolded since, as indicated in the portion I've underlined, my view about giving Chase/JPM information beyond the absolute minimum is at least as restrictive as yours - even though it precluded in-kind transfer: from me they got the number of a deposit account that only rarely&briefly has a nonzero balance.

Maybe you could open another Vanguard account and move to it only the securities/lots that you want to transfer to Chase in-kind. My experience was that while mutual fund accounts got a bundled/aggregated statement, each of the ones we upgraded to brokerage gets its own periodic statement containing no reference to any of the others except pertaining to specific inter-account transfers.

Seasonal
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Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Thu Jan 30, 2020 6:32 pm

ofckrupke wrote:
Thu Jan 30, 2020 4:57 pm
Seasonal wrote:
Thu Jan 30, 2020 2:23 pm
ofckrupke wrote:
Mon Jan 27, 2020 1:14 pm
[...]
I wasn't about to give Chase/YouInvest a connection to an external brokerage account anyway, so elected instead to pull in cash from a (normally empty) external deposit account attached to that brokerage account. Done this way, the least-time-out-of-market sequence is $25k every fourth business day. This is because YouInvest puts a 4 day hold on incoming funds, but subject to a $25k exclusion covering the union of otherwise shackled sub-4th-day new money. [...]
I don't mind if Chase pulls from my main Vanguard account, but I'd rather not give them a complete Vanguard statement, since it includes all holdings in all of my Vanguard accounts, which seems to be a lot more information than they need. Do you have any learning on whether giving them only the relevant portions of a brokerage statement will suffice?
I would be the last to answer the question I've bolded since, as indicated in the portion I've underlined, my view about giving Chase/JPM information beyond the absolute minimum is at least as restrictive as yours - even though it precluded in-kind transfer: from me they got the number of a deposit account that only rarely&briefly has a nonzero balance.

Maybe you could open another Vanguard account and move to it only the securities/lots that you want to transfer to Chase in-kind. My experience was that while mutual fund accounts got a bundled/aggregated statement, each of the ones we upgraded to brokerage gets its own periodic statement containing no reference to any of the others except pertaining to inter-account transfer events.
I think I'll call Vanguard tomorrow to see if they can open an account solely to hold the securities to be transferred, to have it's own statement or otherwise get a sanitized statiment. If not, I could sell shares, move the cash to Chase, then buy the investor class of VWSUX. The tax cost and additional expense ratio would take about 15 years to use up the $1,000 bonus, presuming I can actually transfer cash Vanguard - Chase checking - YouInvest and still get the bonus. I'd get written assurance from Chase before doing that. Otherwise, I suppose I could write and check and fund YouInvest with that.

I suppose I'll ask Chase if they'll take a redacted Vanguard statement, but I suspect I know the answer already.

I feel that I'm being paranoid about this and am glad to see I'm not the only one :sharebeer

Seasonal
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Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Thu Jan 30, 2020 7:38 pm

More mechanics: I spoke to a phone rep who said I could transfer $75,000 in new money to our Chase checking account from an external source, move that to our YouInvest account, buy Vanguard mutual fund shares and leave that in place for 90 days.

He said he would have to link the accounts (apparently, even though I could see them all online they were not linked) and that my plan would work. He emphasized that the YouInvest couldn't be a 529 plan, IRA or the like.

I have sent Chase a secure message to confirm. If so, I'll proceed on this basis if I can't make the in-kind transfer work without undue effort.

BTW, the YouInvest reps I've spoken with and this Chase Sapphire rep have been some of the best bank reps I've dealt with.

Seasonal
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Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Fri Jan 31, 2020 1:05 pm

Today I got some less helpful JPM broker reps, but got clarity from a helpful supervisor.

More on transfer fun at viewtopic.php?f=2&t=302250

student
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Re: Chase Sapphire checking 1000$ offer

Post by student » Fri Jan 31, 2020 1:40 pm

Seasonal wrote:
Thu Jan 30, 2020 6:32 pm
ofckrupke wrote:
Thu Jan 30, 2020 4:57 pm
Seasonal wrote:
Thu Jan 30, 2020 2:23 pm
ofckrupke wrote:
Mon Jan 27, 2020 1:14 pm
[...]
I wasn't about to give Chase/YouInvest a connection to an external brokerage account anyway, so elected instead to pull in cash from a (normally empty) external deposit account attached to that brokerage account. Done this way, the least-time-out-of-market sequence is $25k every fourth business day. This is because YouInvest puts a 4 day hold on incoming funds, but subject to a $25k exclusion covering the union of otherwise shackled sub-4th-day new money. [...]
I don't mind if Chase pulls from my main Vanguard account, but I'd rather not give them a complete Vanguard statement, since it includes all holdings in all of my Vanguard accounts, which seems to be a lot more information than they need. Do you have any learning on whether giving them only the relevant portions of a brokerage statement will suffice?
I would be the last to answer the question I've bolded since, as indicated in the portion I've underlined, my view about giving Chase/JPM information beyond the absolute minimum is at least as restrictive as yours - even though it precluded in-kind transfer: from me they got the number of a deposit account that only rarely&briefly has a nonzero balance.

Maybe you could open another Vanguard account and move to it only the securities/lots that you want to transfer to Chase in-kind. My experience was that while mutual fund accounts got a bundled/aggregated statement, each of the ones we upgraded to brokerage gets its own periodic statement containing no reference to any of the others except pertaining to inter-account transfer events.
I think I'll call Vanguard tomorrow to see if they can open an account solely to hold the securities to be transferred, to have it's own statement or otherwise get a sanitized statiment. If not, I could sell shares, move the cash to Chase, then buy the investor class of VWSUX. The tax cost and additional expense ratio would take about 15 years to use up the $1,000 bonus, presuming I can actually transfer cash Vanguard - Chase checking - YouInvest and still get the bonus. I'd get written assurance from Chase before doing that. Otherwise, I suppose I could write and check and fund YouInvest with that.

I suppose I'll ask Chase if they'll take a redacted Vanguard statement, but I suspect I know the answer already.

I feel that I'm being paranoid about this and am glad to see I'm not the only one :sharebeer
You can transfer cash directly to YouInvest and it counts.

Seasonal
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Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Fri Jan 31, 2020 3:13 pm

student wrote:
Fri Jan 31, 2020 1:40 pm
You can transfer cash directly to YouInvest and it counts.
That's the fall-back plan. I have 45 days to transfer, so I'll see if I can make it work out of my newly created Vanguard brokerage account which, as of Monday, will have the shares I want to transfer. I'd rather not pay a bit of tax on a sale and about $60/year in additional expense ratio (VWSTX v. VWSUX). Otherwise, I'll send YouInvest a check.

invstar
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Re: Chase Sapphire checking 1000$ offer

Post by invstar » Mon Feb 03, 2020 7:10 pm

Seasonal,

I am planning to open chase sapphire account as well. Can we buy new vanguard bond funds (admiral preferably). My plan is to move $75k from my current bank which is paying 1.75% to Chase Sapphire and move most of it into a VG municipal bond fund (VWIUX) in You Invest. Is it possible to do this? I want to keep around 5k in the sapphire checking account.

Thanks.

Seasonal
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Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Mon Feb 03, 2020 8:00 pm

invstar wrote:
Mon Feb 03, 2020 7:10 pm
Seasonal,

I am planning to open chase sapphire account as well. Can we buy new vanguard bond funds (admiral preferably). My plan is to move $75k from my current bank which is paying 1.75% to Chase Sapphire and move most of it into a VG municipal bond fund (VWIUX) in You Invest. Is it possible to do this? I want to keep around 5k in the sapphire checking account.

Thanks.
As I understand it, you can't buy new admiral shares of a Vanguard fund, unless there is not investor class for that fund. You can, however, transfer admiral shares from Vanguard. Phone reps didn't think you could reinvest dividends in funds you couldn't purchase. I plan move similar amounts.

I'm not sure how to check if you can buy VWIUX, but the phone reps should be able to tell you. Almost all been very responsive and helpful,

invstar
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Re: Chase Sapphire checking 1000$ offer

Post by invstar » Mon Feb 03, 2020 8:27 pm

Thanks.

invstar
Posts: 144
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Re: Chase Sapphire checking 1000$ offer

Post by invstar » Tue Feb 04, 2020 8:13 pm

I had opened the regular chase checking and savings accounts and received bonus around 6 months ago. I was planning to close my account since it’s 6 months already. Now I am thinking of either upgrading it to sapphire to get $1000 bonus or close current account and opening new sapphire account.
My question is - will I be able to get bonus if I upgrade it open new account? Will I be denied the bonus because I had received bonus already for my current checking account in the last 6 months?

Thanks.

student
Posts: 4805
Joined: Fri Apr 03, 2015 6:58 am

Re: Chase Sapphire checking 1000$ offer

Post by student » Tue Feb 04, 2020 8:15 pm

invstar wrote:
Tue Feb 04, 2020 8:13 pm
I had opened the regular chase checking and savings accounts and received bonus around 6 months ago. I was planning to close my account since it’s 6 months already. Now I am thinking of either upgrading it to sapphire to get $1000 bonus or close current account and opening new sapphire account.
My question is - will I be able to get bonus if I upgrade it open new account? Will I be denied the bonus because I had received bonus already for my current checking account in the last 6 months?

Thanks.
My understanding is that upgrade works. It is best to talk to your banker.

Seasonal
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Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Wed Feb 05, 2020 8:37 am

For those who transferred shares from Vanguard, how long did it take from when your paperwork arrived at Chase to when the transfer was completed?

Seasonal
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Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Wed Feb 05, 2020 9:10 pm

ofckrupke wrote:
Tue Jan 28, 2020 11:48 am
On the heels of #3 I chose to call the JPM-side CS system; the rep there was able to confirm that $75k/$1000 bonus logic had in fact attached itself to this YouInvest account...which, after all, hadn't even existed when my bonus confirmation code had been generated over on the banking side. To me, this call established that assets pulled in from outside Chase/JPM to YouInvest would surely upon landing be counted for the bonus.
Also, wrt #4, I believe that the sum of deposit account balances "on" [at the end of] the day I presented a bonus code and got a confirmation code were probably considered the starting point. In my case, the net-new-money counter likely decremented first into negative territory as outstanding checks paid from a deposit account before the first slug of new money arrived over on the YouInvest side.
In a conversation with another rep about a different topic, I was told that to qualify for the bonus and to avoid monthly fees I would have to maintain deposits in bank accounts or qualifying You Invest investments and the only qualifying investments are Chase CDs and Chase investment and annuity products, but that Vanguard mutual funds would not count. I'm hoping I got a misinformed rep, since this is contrary to what I was told by prior phone rep and posts earlier in this thread, but though I'd check again.

In a prior secure message to confirm I'd properly signed up for the bonus I mentioned transferring shares of a Vanguard mutual fund and the reply appeared to confirm this would work. I sent another secure message asking very specifically that they confirm shares of a Vanguard mutual fund would work.

Sorry for the repetition.

student
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Re: Chase Sapphire checking 1000$ offer

Post by student » Wed Feb 05, 2020 9:33 pm

Seasonal wrote:
Wed Feb 05, 2020 8:37 am
For those who transferred shares from Vanguard, how long did it take from when your paperwork arrived at Chase to when the transfer was completed?
Here is from my recent experience. viewtopic.php?f=1&t=300931 Three days after submitting the correct form.

Seasonal
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Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Wed Feb 05, 2020 9:41 pm

student wrote:
Wed Feb 05, 2020 9:33 pm
Seasonal wrote:
Wed Feb 05, 2020 8:37 am
For those who transferred shares from Vanguard, how long did it take from when your paperwork arrived at Chase to when the transfer was completed?
Here is from my recent experience. viewtopic.php?f=1&t=300931 Three days after submitting the correct form.
If I'm reading correctly, you uploaded your form rather than mailing it in?

A rep told me that a mailed form would take longer than an uploaded form and the web site makes clear I have to submit mailed paper (because it's a joint account). The time estimates I've received were up to four weeks, which seems excessive and likely designed to stop me from checking frequently.

student
Posts: 4805
Joined: Fri Apr 03, 2015 6:58 am

Re: Chase Sapphire checking 1000$ offer

Post by student » Wed Feb 05, 2020 9:51 pm

Seasonal wrote:
Wed Feb 05, 2020 9:41 pm
student wrote:
Wed Feb 05, 2020 9:33 pm
Seasonal wrote:
Wed Feb 05, 2020 8:37 am
For those who transferred shares from Vanguard, how long did it take from when your paperwork arrived at Chase to when the transfer was completed?
Here is from my recent experience. viewtopic.php?f=1&t=300931 Three days after submitting the correct form.
If I'm reading correctly, you uploaded your form rather than mailing it in?

A rep told me that a mailed form would take longer than an uploaded form and the web site makes clear I have to submit mailed paper (because it's a joint account). The time estimates I've received were up to four weeks, which seems excessive and likely designed to stop me from checking frequently.
Yes. I uploaded it. However, it was not a joint account.

Rdytoretire
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Re: Chase Sapphire checking 1000$ offer

Post by Rdytoretire » Thu Feb 06, 2020 11:03 pm

I opened a Chase Sapphire checking account 3 months ago. I deposited the $75K required and recently received my $1000 bonus. I have also had a regular checking account with Chase for a number of years. I am now ready to close the Sapphire account as I have no intention to leave that amount in an account that earns no interest. For those with any experience with doing this, what is the best/easiest way to close the account?

I am also concerned that if I don't keep the account open for six months they will somehow deduct the bonus. Is that possible? I was not able to find any 6 month requirement when I opened the Sapphire account. I intend to call or visit Chase but am interested if anyone has any experience closing the Sapphire account.

dtee
Posts: 27
Joined: Fri Nov 11, 2016 4:48 pm

Re: Chase Sapphire checking 1000$ offer

Post by dtee » Sun Feb 09, 2020 3:26 pm

Rdytoretire wrote:
Thu Feb 06, 2020 11:03 pm
I opened a Chase Sapphire checking account 3 months ago. I deposited the $75K required and recently received my $1000 bonus. I have also had a regular checking account with Chase for a number of years. I am now ready to close the Sapphire account as I have no intention to leave that amount in an account that earns no interest. For those with any experience with doing this, what is the best/easiest way to close the account?

I am also concerned that if I don't keep the account open for six months they will somehow deduct the bonus. Is that possible? I was not able to find any 6 month requirement when I opened the Sapphire account. I intend to call or visit Chase but am interested if anyone has any experience closing the Sapphire account.
Im also in the same boat. Got my $1000 bonus earlier this week and would like to close this account.

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