Chase Premier Plus Checking℠
Fees
Minimum Deposit
Our Rating
APY Checking
Chase Premier Plus Checking℠
Fees
Minimum Deposit
Our Rating
APY Checking
Chase is one of the largest banks in the U.S, so it should not be surprising that this bank offers a variety of checking accounts. However, one offering you may have overlooked is the Chase Premier Plus Checking account.
The Chase Premier Plus Checking is designed to be more than a basic checking account offering mobile banking and online bill payments. This account is interest bearing and can help you to save money on a variety of banking fees including ATM fees.
Chase Premier Plus: Account Features
The Chase Premier Plus Checking is designed for customers who maintain higher balances and want access to more features and benefits than a standard checking account.
Some of the features of Chase Premier Plus Checking include:
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Monthly Service Fee
As with many of the Chase accounts, the Premier Plus Checking does have a monthly fee. However, since this is a premium account, the fee is one of the highest for a Chase checking account at $25.
There are several ways to have this fee waived, including having an average daily balance of $15,000 plus in this and other linked accounts, having a linked qualifying Chase mortgage with automatic payments or if you’re a current U.S Armed Forces service member or veteran.
Account | Monthly Fee | Average Day Balance To Waive |
|---|---|---|
Chase Total Checking | $12 | $1,500 |
Chase Premier Plus Checking | $25 | $15,000 |
Chase Sapphire Checking | $25 | $75,000 |
Chase College Checking | $12 | $1,500 |
Chase Private Client Checking | $30 | $150,000 |
Chase Business Complete Banking | $15 | $2,000 |
Chase Performance Business Checking | $30 | $35,000 |
Chase Platinum Business Checking | $95 | $100,000 |
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Interest Bearing
While the current rate of 0.01% APY is not likely to earn you a fortune, it is nice to earn something on the balance in your checking account. This is the only account who are eligible to earn interest, in addition to the Chase Private Client.
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Reduced or Waived Fees
One of the perks of this account is that there are reduced or waived fees for a number of banking services.
This includes no fees for Chase design checks when you order through Chase, no fee for money orders, counter checks or cashier’s checks.
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Free ATM Use
In addition to being able to use the Chase ATM network with no surcharges, if you do use a non Chase ATM, there is no Chase fee on the first four times per statement period.
So, if you do slip up and use a non network machine or you’re in an area where there is no Chase network machine, you won’t get hit with a hefty fee.
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Overdraft Assist
Chase Premier Plus Checking qualifies for Overdraft Assist. This feature ensures that there is no overdraft fee if you’re overdrawn by $50 or less at the end of the day.
Additionally, there is no overdraft fee if your balance is more than $50 overdrawn, but you bring the balance below -$50 or less by the end of the following business day.
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Waived Service Fee on Other Chase Accounts
As a Premier Plus Checking customer, you can save on Chase monthly service fees on up to two Premier Plus Checking accounts and a personal Chase savings account.
Is the Chase Premier Plus Checking Account Good?
There is no straightforward answer to this question, as whether the account is a good option for you will depend on your preferences and circumstances.
However, we can highlight both the pros and cons to help you to make an informed decision.
Pros | Cons |
|---|---|
No Minimum Deposit Requirements | Challenging Service Fee Waiver Criteria |
Potential to Save on Banking Fees | High Overdraft Fees |
Access to a Large Branch Network | Low APY |
Access to a Highly Rated App |
- No Minimum Deposit Requirements
This is a standard feature on most Chase checking accounts, but it is unusual when compared to other banks.
The zero minimum deposit requirement makes it easy to open an account and get it up and running without worrying about funding until it is all set up and you’re ready to use it.
- Potential to Save on Banking Fees
We’ve already touched on the fees that are waived for Premier Plus account holders, but it is important to note the potential for savings if you regularly use cashier’s checks, money orders and counter checks.
The standard fee for these services is $5 to $10 each, which could mean a significant saving for some customers.
- Access to a Large Branch Network
Chase has more than 4,700 physical locations in its branch network, which makes it easy to access in person support.
The bank also has an ATM network with 15,000 machines including DepositFriendly ATMs, so you may not even need to visit a teller if you need to make a deposit.
- Access to a Highly Rated App
If you prefer to manage your account on the go, you should find the Chase app appealing.
Chase’s app is highly rated, providing an intuitive interface, which allows you to manage almost every aspect of your day to day banking directly from your device.
- Challenging Service Fee Waiver Criteria
It is possible to have the $25 monthly service fee waived, but the criteria is more challenging compared to the other Chase “Everyday” checking accounts, such as the Chase Total Checking.
This includes having a large balance across your Chase accounts, which may present a barrier for many potential customers.
- High Overdraft Fees
Although there is Overdraft Assist, if you slip into the red and cannot bring your account back to under $50 within one business day, you’ll get hit with a hefty overdraft fee.
The Chase overdraft fee is $34 each and it can be applied up to three times a day.
- Low APY
The Premier Plus Checking account is interest bearing, but it does attract a very low 0.01% APY. It is nice to earn anything on your checking balance, but 0.01% is negligible.
There are a number of checking accounts with online banks that offer a far higher interest rate on bank account balances.
Is Chase a Good Bank to Work With?
As is all too common with traditional banks, Chase bank has pros and cons. In fact, Chase currently has a poor rating on Trustpilot, with negative comments about its customer service and account issues. However, the Chase app has an excellent rating on both the Apple Store and Google Play.
This suggests that Chase could be a good bank to work with day to day and the customer service issues may vary greatly from branch to branch. Chase also does offer 24/7 phone support, which means that you may be able to avoid using branches altogether. The customer support on app offers choices such as live chat, email, or phone support, making it incredibly convenient for users to seek assistance seamlessly.
Chase doesn’t offer the greatest rates, but it does offer a comprehensive product line with perks for linking your various accounts. If you’re interested in moving all of your financial activity under one roof, you are highly likely to find all the bases covered with Chase, some of which are included in our best bank accounts for 2024.
But, if your priority is to access the highest possible rates and you’re not overly concerned with accessing in person support, you may prefer to look at online alternatives.
How to Open a Chase Premier Plus Checking Account
You can pop into a local branch to open a Premier Plus Checking account, but Chase also makes it very easy to open an account online. The entire process can be done in a few simple steps.
- Navigate to the Premier Plus Checking Page: On the Chase Official website, you will find the Premier Plus Checking product page under the “Checking” link on the top bar and then selecting “Premier Plus.” This will direct you to a product page containing an overview of the account features and when you’re ready to proceed, click the “Open Now” button.
- Complete the Preliminary Questions: If you’re not already a Chase customer, you will need to provide answers to the mandatory preliminary questions including your full name, address, date of birth and Social Security Number.
- Confirm Your Citizenship Status: The next page requires you to confirm your citizenship status. The default is set to the U.S with a yes or no option, but if you click no, there is a drop down field to specify another country.
- Complete the Application: This is quite a standard form, which should come as no surprise to those who have opened an online account with another bank or financial institution. You will need to complete all of the mandatory fields and it is worth double checking your answers for errors before you click submit.
- Await Chase Approval: once you submit your application, Chase will process it and you can expect an email to confirm if the account has been opened or if Chase requires further information.
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FAQs
Does Chase Premier Plus Checking earn interest?
Yes, Chase Premier Plus Checking is interest bearing. The current APY is 0.01%.
Does Chase Premier Plus Checking offer a promotion?
Chase does periodically offer promotions for new accounts and customers, but at this time, there is no available promotion for the Premier Plus Checking account.
How do you close a Chase Premier Plus Checking account?
The easiest way to close a Chase Premier Plus Checking account is to visit your local branch or call the customer support line. A Chase representative can process your closure request and guide you through the closure procedure.
How We Review Checking Accounts: Our Methodology
The Smart Investor team has conducted a comprehensive review of checking accounts offered by various banks, taking into account several key factors to provide a thorough evaluation. Here's how we rated them across four important categories:
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Checking Account Features (60%): We meticulously assessed the features and benefits associated with each bank's checking accounts. Factors considered include account fees, minimum balance requirements, ATM access, overdraft protection, online and mobile banking functionalities, and additional perks such as rewards programs. Higher ratings were awarded to banks offering a wide range of features and benefits that cater to diverse customer needs, ensuring convenience and flexibility in managing finances.
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Customer Experience (20%): A positive customer experience is essential in banking, so we evaluated each bank's performance in this area. This included assessing the ease of account opening, quality of customer service, availability of support channels, and overall user satisfaction. Ratings were based on factors such as responsiveness, efficiency, and the bank's commitment to meeting customer needs, ensuring a seamless and satisfactory banking experience.
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Diversity of Other Financial Products (10%): We also considered the diversity of other financial products offered by each bank, such as savings accounts, loans, credit cards, and investment options. Higher ratings were given to banks with a comprehensive suite of financial products, allowing customers to meet their various banking and financial needs in one place.
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Bank Reputation (10%): The reputation of a bank is a crucial factor in decision-making. We examined factors such as financial stability, regulatory compliance, and public perception to determine each institution's overall trustworthiness and reliability. Higher ratings were assigned to banks with strong reputations, reflecting their credibility and ability to inspire confidence among customers.
By considering these categories and assigning appropriate weights to each, our review aims to provide valuable insights to help individuals make informed decisions when selecting a checking account
