<prompt> Human: Hi PF,Pretty basic question. Currently, my spouse and I do all of our day to day banking with a largish local credit union. We have around 30k floating between checking and savings. We have a big portion 10k of our emergency fund at discover earning .95 interest. Overall, we have been reducing what were holding in checkingsavings and moving it to investments in vanguard and e fund discover, but its likely well end up keeping around 15 to 20 in whatever our day to day checkingsavings ends up being.I noticed that chase is doing a promotion for 500 bucks to, essentially, switch to them for our day to day banking. We were already thinking of moving away from our CU in order to get a better online experience, but what is this all about? Seems like a pretty easy to get 500 bucks. Should we switch? Whats the catch?Update: We went ahead and opened the accounts. Ill make another post if I find things to be scammy.  <response>: I just want to point out that you dont have to officially switch. You can use multiple banks. All you have to do is meet Chases minimum requirements to earn this bonus. Its usually to keep 10k or so for a period of at least 6 months to earn the bonus. You also have to have direct deposit, which you can often fake by transferring money in from other accounts. Check the Doctor of Credit site that someone else posted for more information about this. So you can keep using your current bankCU while just keeping money on the side at chase. 