Chase Bank
Fees
Minimum Deposit
Current Promotion
APY Savings
Chase Bank may have a modern, trendy image, but they’re one of the oldest banks in the US. Chase Bank is the consumer branch of JP Morgan Chase, one of the biggest banks in the US. While the past few decades have not been kind to most major banks, Chase is an exception to the rule. JP Morgan Chase was one of the big winners of the 2008 Wall Street collapse, taking ownership of most of Washington Mutual's remains.
They’ve also been expanding their brick-and-mortar footprint. Over the last five years, they’ve built almost 200 new branches. Nearly half of these were in Florida and Georgia alone, as Chase focuses on establishing its footprint throughout the entire eastern half of the country. They currently have locations in 26 states, most of them on the east side of the Mississippi.
Chase Bank can be a perfect fit if:
- You can meet the requirements for account fee waivers
- You have more to invest in your CD
- The credit card partners and deals appeal to you.
- You want a welcome bonus
- Variety of banking products
- Chase credit cards and Chase Ultimate Rewards
- Promotions
- Top Notch Digital Experience
- Low Interest Deposit Rates
- Fees
Does Chase offer a free checking account?
All Chase checking accounts—with the exception of those for children and students—have some sort of monthly maintenance fee.
However, if you satisfy one of a number of account requirements, you might be eligible to have this cost eliminated. For instance, the $12 fee for Chase Total Checking is removed if you keep your account balance at $1,500 or receive at least $500 in direct deposits.
Why are Chase deposit rates low?
A more conventional bank, Chase has a sizable branch network. While this is practical if you require in-person customer service, it significantly raises the bank's operating expenses.
Chase's rates may appear excessively low when compared to banks that solely offer services online, but you must keep in mind that you are essentially paying for the option to call a branch and speak to a representative if you have a problem or question.
Can a Chase Checking Account application be Rejected?
Chase will need to review your account application, as do the majority of institutions, to determine your eligibility. This indicates that there is a chance your application will be rejected. Chase will often let you know if your application has been declined, but you might not be given a reason why.
Chase does, however, offer a straightforward checking account that they can suggest if you don't have the credit history to be approved for one of their more feature-rich accounts.
Can I invest in gold products through Chase?
Chase offers access to investment alternatives from its sibling companies as a member of the JP Morgan group. In order to trade stocks, ETFs, and options, you can either work with an advisor or go it alone.
This implies that you can buy gold equities on this site. Additionally, new users can take advantage of limitless commission-free online trades with certain products for zero dollars. However, Chase has a highly open pricing structure, allowing you to choose your investment strategy with confidence.
What’s the easiest way to close a Chase bank account?
Online closure of your Chase bank account is the simplest option. You should be able to send a message requesting account deletion by logging in to your dashboard and selecting the "Secure Message Center" link. You ought to get a message outlining any additional queries and the steps for closing the account within two business days.
Additionally, you can close your account by calling the toll-free customer service number for Chase or visiting your nearby location, where a Chase professional will walk you through the procedure.
Do Chase accounts that are joint work?
Co-ownership is permitted for numerous accounts at Chase. You have the option of opening a joint account or including a second party in your already-existing account. Naturally, Chase must confirm the parties' identities.
Therefore, both of you will need to provide your information if you are new to Chase. However, if you already have a Chase account, you should be able to open your side of the account first, after which your partner can complete the verification steps.
Chase Bank Review
Banking Services | Credit Options | ||
|---|---|---|---|
Savings Accounts | Mortgage | ||
Checking Accounts | Government Mortgage | ||
CDs | Credit Cards | ||
Money Market Account | Debit Card | ||
Investing Capabilities | Personal Loans |
Chase Savings Account
APY Savings
Minimum Deposit
Promotion
Fees
Chase Savings Account
APY Savings
Minimum Deposit
Promotion
Fees
Chase’s most well-known savings account is the Chase Premier Savings account. This account earns below the national average APY, on a sliding scale that goes 0.01%.
Also, there are a couple of things to know. First, you’ll only earn an enhanced rate if you maintain – and use – a linked Chase Premier Checking or Chase Sapphire Checking account. When you make five register or PIN purchases monthly, you earn “relationship rates,” unlocking the higher APY. This has to be done monthly, so it’s only practical if you want a linked checking account.
The other catch is that your interest rate scales based on your account balance. For anything under $50,000, you’ll only earn 0.02%. At $50,000, you start earning 0.03%. At 100,000, you earn 0.04%. To earn the maximum rate of 0.05%, you’ll need an account balance of at least $250,000 at the end of the month.
A simpler alternative is to open a standard Chase Savings account. It only pays 0.01%, but there are no additional requirements. A Chase Savings account costs a $5 monthly fee to maintain, but the fee is waived if you have a balance of at least $300. It’s also waived for minors, making it a great savings option for kids.
Overall, there are better options out there. For example, the Amex savings account offers 3.75% APY on savings, while Discover savings account offers 3.60% APY on any amount you deposit on your savings account.
Chase Bank Checking Account
Fees
Minimum Deposit
Promotion
APY Checking
Chase Bank Checking Account
Fees
Minimum Deposit
Promotion
APY Checking
Chase offers three main types of checking accounts. Their “standard” account is Chase Total Checking. This is a standard checking account with a $12 monthly service fee. However, the monthly fee is waived if you maintain a balance of $1,500 or more in your Total Checking or a linked savings account.
If you tend to maintain a higher balance, you might prefer the Chase Premier Plus Checking Account. It costs a $25 monthly service fee, but it is waived if you maintain a balance of at least $15,000 in the Premier Plus or any linked accounts. The main benefit is that this kind of account pays None interest, so it’s worthwhile for larger accounts.
The third option is Chase Sapphire Checking. This type of account costs a $25 monthly fee, which is not waivable. That said, there’s no minimum balance. There are also no ATM fees, even on out-of-network ATMs. This makes the Sapphire Checking account ideal for frequent flyers and anyone who travels a lot.
Chase Bank does not charge a fee for counter checks, money orders, cashier’s checks, and Chase design checks. The monthly fees are steep, and the $34 overdraft fee is also a bit high. Ultimately, you’ll get a lot better value if you carry a large balance than if you only keep a few hundred dollars in your checking account. Of course, you can close your checking account at any time.
Chase Bank CDs
APY Range
Minimum Deposit
Terms
Fees
Chase Bank CDs
APY Range
Minimum Deposit
Terms
Fees
Because of differences in state law, not all Chase CD offerings are available in all areas. To find out what’s available in your area, you’ll need to check their website and enter your location.
What we can say for sure is that there is no minimum deposit for a Chase CD. However, you’ll only be able to get the best interest rates if you deposit at least $10,000. The APY can range is 0.02% – 4.00%. The more money you deposit and the longer the term, the higher interest you’ll earn.
Overall, Chase CDs offer lower rates compared to top players in the industry. For example,as of April 2023, Quontic bank CDs offer a range of 3.75% – 4.40% APY. High rates on CDs you can also find on Barclays CDs, which offers 4.30% – 5.00%.
CD Term | APY | Early Withdrawal Penalty |
|---|---|---|
3 Months | 3.50% | 90 days of interest |
6 Months | 0.05% | 180 days of interest |
9 Months | 0.05% | 180 days of interest |
12 Months | 3.25% | 180 days of interest |
18 Months | 0.05%
| 180 days of interest |
24 Months | 2.00% | 365 days interest |
30 Months | 1.50% | 365 days interest |
36 Months | 2.00% | 365 days interest |
48 Months | 1.50% | 365 days interest |
60 Months | 1.50% | 365 days interest |
120 Months | 1.50% | 365 days interest |
Chase Money Market Funds
Chase Bank does not offer any money market accounts at this time. Because a money market account is more of an investment than a traditional bank account, that function remains on the JP Morgan side of the business. That said, there’s nothing stopping you from going to JP Morgan and opening a money market account.
Currently, JP Morgan offers six different money market funds, with investments in treasuries, private institutions, and other assets. Because of the nature of a money market fund, it’s impossible to say for sure what your yield will be. Like we said, it’s more of an investment than a standard account.
If you’re going to invest in a money market account, make sure you know what you’re doing. This would be a good time to talk to a financial advisor and learn more about your options.
Mortgage & Loan Options
Chase offers a variety of mortgages, including ARMs and fixed-rate loans, as well as Jumbo and FHA loans. Chase also allows prequalification, to help its customers speed up the home purchase process. The bank allows the purchase of discount points for both refinance and home purchase packages.
While Chase does not offer personal loans, it does offer auto loans to assist you in financing a new or used vehicle.
Credit Cards
Chase offers credit card options in addition to debit cards. There are seven hotel cards, seven business cards, and more than twenty travel cards. Chase even has partnerships with companies like Amazon, Starbucks, and Disney. This means you can select the card that offers the best rewards for your favorite brands and spending habits.
The majority of Chase cards have no annual fee, but there are a few exceptions, such as the Sapphire Preferred. While there is a $95 annual fee, it provides 5x total points on travel purchased through Chase Ultimate Rewards, 3x points on dining and online grocery purchases and 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases .
Chase also offers some travel credit cards, such as the United ,Explorer card that offers 2x per $1 spent on United purchases, hotel accommodations, restaurants & eligible delivery services and 1x per $1 spent on all other purchases or Marriot Bonvoy Boundless where cardholders can earn up to 17X total Bonvoy points per $1 spent at over 7,000 hotels participating in Marriott Bonvoy® with the Marriott Bonvoy Boundless® Card, 3X on the first $6,000 spent in combined purchases each year on grocery stores, gas stations, and dining and 2X Bonvoy points for every $1 spent on all other purchases.
Chase also has a Freedom Unlimited card, which offers a additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year)- worth up to $300 cash back, as well as 5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases and 1.5% cash back on all purchases.
Customer Experience
The customer service system at Chase is quite extensive. A comprehensive website with a help page is available, as well as customer service lines, Twitter and Facebook support from 7 a.m. to 11 p.m. ET Monday through Friday and 10 a.m. to 7 p.m. ET on weekends.
You can also make an appointment with an agent at your local branch. Chase even has special lines for military personnel and veterans, whether they are in the United States or abroad.
The Chase website has a clean design and is simple to use, providing a good user experience. You can thoroughly investigate and compare banking products to find the best one for you. This is especially useful if you're looking for the best credit card option. Chase's app has received 4.8/5 stars on the Apple App Store and 4.4 stars on Google Play.
Chase Bank | |
|---|---|
App Rating (iOS)
| 4.8 |
App Rating (Android) | 4.4 |
BBB Rating (A-F) | B+ |
Contect Options | phone/social |
Availability | 7 AM – 11 PM
|
How to Open a Bank Account on Chase
Step 1:
Visit the Chase Bank homepage. Some options will be provided to you; choose whichever you desire and click “Open now.”
Step 2:
Next, fill in your personal details and identification.Next, is your home address and contact info; fill in your street address, zip code, email address and phone number.
Step 3:
Next, go through the Consumer Report Authorization and then check the box to verify that the information you have provided is correct.
Lastly, you will get a notification if your application was successful or not.
Should You Consider Chase?
As you can see, Chase Bank offers an array of account types that meet various needs. Whether you want a high-balance savings account or a revolving door checking account, there’s an option for you.
Chase Bank isn’t perfect. The fees for out-of-network ATMs are a bit steep, and you’ll be using out-of-network ATMs a lot of you travel frequently. The interest rates on their CDs and savings accounts are also generally low. The exception is the Chase Premier Savings account, which offers competitive interest if you carry a large balance.
That said, there are plenty of locations, and the customer service is fast and friendly. You can also easily avoid monthly fees if you know how to use your account.
Chase Bank FAQs
What promotions do Chase offer?
As of April 2023, new Chase Total Checking customers can currently qualify for a $200 bonus. Chase also offers $100 if you set up a new Chase Secure Banking account and there are also offers for new credit card account holders.
All of these promotional offers do have qualification criteria, so it is important to check the small print, but these products can be a great way to get your hands on some free cash. Check out all Chase Bank promotions and bonuses.
Is Chase Bank trustworthy?
Chase Bank is a legit financial institution that is FDIC insured, so you have the reassurance of up to $250,000 of protection per depositor should the bank fail.
Additionally, Chase Bank has a number of safety measures to protect your data and financial details. These measures include multiple authentication, account activity monitoring and the latest in encryption technology.
Is Chase Bank good for online banking?
Chase Bank is a full service bank with a history dating back to 1799. While it has almost 4,900 branches, it also offers solid online banking services. The company has a solid digital footprint with its online banking platform and popular app.
The app is available for Android and iOS devices and offers 24/7 management for all your Chase accounts. This includes transfers, mobile check depositing, bill paying, account alerts, card lock and automated savings.
Is Chase Bank a good bank overall?
Chase Bank is a solid option for those who want to access a variety of banking products. You will need to maintain the minimum balance required or complete qualifying activities so fees are waived, but you can earn cash back or valuable rewards.
This makes Chase Bank a good choice for most customers from students to military veterans, who can enjoy great service. From time to time, you could also find bonuses and promotions for new bank accounts.
Chase Bank or Bank of America?
Both Chase Bank and Bank of America are large national banks with solid reputations, so it can be tricky to see much distinction between them. Both organizations have thousands of ATMs and branches with a variety of product choices.
Bank of America savings rates are slightly higher on some of the savings products, and there are easier ways to waive monthly maintenance fees. However, Chase Bank is a better option if you have fewer funds for checking or saving accounts or want to access sign-up bonuses.
Is Chase Bank better than Citibank?
Citibank is another sizeable national banking institution. Like Chase Bank, you’ll find Citibank offers a wide variety of banking products with competitive rates. Since both are traditional-style banks, you will find that Chase and Citibank checking account fees are higher than online banks.
However, if you want to distinguish between the two, Chase is a better option if you wish for greater access to branches, as Chase has a more extensive network. Chase also has a cheaper overdraft protection feature.
On the other hand, Citibank has a more extensive ATM network, and if you’re interested in CDs, you’ll find Citibank offers higher rates.
Which is better: TD Bank or Chase?
Both TD and Chase offer mobile features for checking, savings, and investment accounts. However, the bank fees differ according to several factors. TD bank account fees can be discounted if you sign up for online statements. You can also have the account fees waived if you meet the criteria.
Chase also offers waivable account fees, but some fees, such as the out-of-network ATM fee, are less with Chase.
All in all, TD Bank and Chase are pretty similar. You may find TD Bank appealing if you don’t mind monthly fees and limited access to branches. But, if you prefer access to a widespread network of branches and like the possibility of sign-up bonuses, go with Chase.
Which is better: Discover Bank or Chase?
Although Chase is one of the biggest banks in the USA, with over 4,700 branches, Discover Bank's reputation is excellent when it comes to customer service. Discover provides access to 24/7 customer support if you have any queries or issues.
Discover Bank and Chase have a variety of banking products; there are no service fees with Discover. Discover has a massive fee-free ATM network with over 60,000 machines. So, unless there is a specific Chase product that appeals to you, you are likely to find Discover Bank a better option.
Alternatives Banks
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APY Savings
The annual percentage yield (APY) is a percentage that represents the amount of money or interest earned on your savings account over the course of a year. The APY factored in compound interest. A savings calculator can help you quickly determine how much you'll earn with a given APY.
| 4.00%
| 4.20%
| 3.40% |
Checking Account Fee
The monthly fee on checking account
| $0 | $0 | $0 |
Checking Minimum Deposit | $0 | $100 | $50 |
Mobile App Rating | 4.8/5 on iOS, 4.2/5 on Android | 4.6/5 on iOS, 4.2/5 on Android | 4.8/5 on iOS, 4.7/5 on Android |
BBB Rating | A+ | B
| A
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Chase vs American Express
Although Chase Bank has a modern, trendy image, it is one of the oldest banks in the United States. JP Morgan Chase's consumer division, Chase Bank, is one of the largest banks in the United States. Even though its interest rates aren't particularly competitive when compared to online banks and credit unions, loyal Chase customers who keep a significant amount of money with the bank can earn slightly better rates.
American Express is best known for its credit card business. The financial services firm, on the other hand, has a banking subsidiary that offers high-yield savings and CD accounts. For those looking to save money with a well-known financial institution, the American Express High Yield Savings Account is a popular option.
Read Full Comparison: American Express vs Chase Bank
Chase vs Wells Fargo
Chase and Wells Fargo appear to offer very similar products at first glance, so we need to dig a little deeper. There is little to distinguish the savings accounts, and both banks provide a variety of checking accounts.
While Chase's account maintenance fee is slightly higher, it does have some more interesting features. Chase also has an advantage in terms of CDs, but Wells Fargo is a better option for loans and mortgages.
Read Full Comparison: Chase vs Wells Fargo: Where to Save Your Money?
Chase vs Citi
The Chase and Citi checking accounts both have no minimum deposit and a monthly account maintenance fee of $12. This can also be waived with a balance of $1,500 or more, or with qualifying deposits.
Furthermore, both have a very impressive selection of more than credit card options.
Read Full Comparison: Chase vs Citi: Which Bank Account Wins?
Chase vs PNC Bank
Chase has some great features including a massive selection of credit card options. Both banks also offer some great mortgage packages. PNC also has some innovative credit card options, and you can also access personal loans.
Read Full Comparison: Chase vs PNC Bank: Which Bank Account Is Better?
Chase vs TD Bank
Because both Chase and TD Bank provide a comprehensive range of products, we'll need to summarize the benefits and drawbacks to determine which bank is superior.
Chase offers some novel features, including the possibility of comparable CD rates without the TD Bank's minimum deposit. However, there is little to distinguish the checking accounts, as TD Bank's savings rate is twice that of Chase.
Although Chase has more credit card options, don't discount TD Bank, which has some interesting options.
Read Full Comparison: Chase vs TD Bank: Which Bank Suits You Best?
Chase vs Capital One
Chase and Capital One both have banking product lines that compete with traditional high street banks.
Capital One also has a competitive advantage in terms of checking accounts. The Capital One checking account is not only fee-free, but you can also earn interest on your account balance. Chase's checking account does not pay interest, and you must meet certain requirements to have the $12 monthly fee waived.
However, when you open a qualifying account, Chase will give you a welcome bonus, and its checking account has some nice features such as paperless statements for up to seven years and checking account upgrade options.
Read Full Comparison: Chase vs Capital One: Compare Banking Options
Chase vs Discover
The Discover checking account is more traditional. While the account does not pay interest, you can earn 1% cash back on debit card purchases. There are also no fees if you require a replacement debit card, have a deposit item returned, or have insufficient funds in your account.
Chase offers a wide range of banking products, including savings accounts, checking accounts, home loans, home equity options, auto loans, and a wide range of credit cards. In addition, Chase's customer service system is quite extensive.
Read Full Comparison: Discover vs Chase: Which Bank Account Suits You Best?
