Chase Secure Banking
Fees
Minimum Deposit
Promotion
Our Rating
Chase Secure Banking
Fees
Minimum Deposit
Promotion
Our Rating
The Chase Secure Banking account has been designed to offer a low-cost option with basic checking facilities and can be used by starters and those looking for second-chance banking.
There are no overdraft fees or account minimums, making it a good option for those who have had difficulties opening or managing a traditional checking account. This account can help you to bank more responsibly.
Chase Secure Banking: Account Features
Explore the features of Chase Secure Banking Checking Account:
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Monthly Service Fee
This account carries a
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Budgeting Tools
Since this account is designed for those who have difficulties with traditional checking accounts, it offers access to more comprehensive budgeting tools, compared to the offerings with many other checking account products.
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Identity and Credit Monitoring
One of the key features of this account is that you can access the Chase Credit Journey package. This allows you to enjoy free identity theft protection and you can start building or rebuilding your credit.
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Zero Liability Protection
If you report them promptly, you’ll receive reimbursement for any unauthorized debit card transactions.
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Round the Clock Access
Via the online platform or Chase Mobile app you can manage your account 24/7. This allows you to check your balance, deposit checks, pay bills and more from the comfort of your own home or when you’re on the go.
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Account Alerts
You can also configure your account to receive notifications on your account activity. This includes transaction alerts, and notifications if your balance drops below a specified level.
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Early Direct Deposit
If you have your salary directly deposited into your account, you can access the cash up to two business days earlier.
Is the Chase Secure Bank Account Good?
There is no simple answer to this question, as it will depend on your circumstances and requirements. However, there are some pros and cons, which could help you to determine if this account would be a good fit for you.
Pros | Cons |
|---|---|
Access to a Large Branch Network | No Monthly Fee Waiver Potential |
No Minimum Deposit | Low Savings Rates |
24/7 Customer Support
| High Out of Network ATM Fees |
FDIC Coverage | No Ability to Go Overdrawn |
Varied Product Line | |
No Overdraft Fees | |
No Fees for Bill Payment or Cashier’s Checks |
- Access to a Large Branch Network
Although you can manage your account online or using the app, if you prefer face to face customer support, you can visit one of Chase’s 4,700+ branches located across the country. There are also over 15,000 Chase ATMs that you can use.
- No Minimum Deposit
You don’t need a minimum amount to open the Chase Secure Banking account. This makes it easier to get your account started without needing to arrange fund transfers in advance.
- 24/7 Customer Support
The Chase helpline is available 24/7, so if you run into a query or issue, you can immediately get some help from a Chase rep.
- FDIC Coverage
Your account is protected by FDIC insurance, which provides up to $250,000 of coverage in the event that the bank fails.
- Varied Product Line
If you need more than a checking account, Chase has a full product line up, which includes savings, loans, investing and credit cards.
- No Overdraft Fees
This account has been designed to not allow you to overdraw the account, so you’ll not incur any hefty overdraft fees.
- No Fees for Bill Payment or Cashier’s Checks
Since this account is quite streamlined, there are no fees for bill payment, cashier’s checks and some other services including money orders, Zelle payments and using a Chase ATM.
- No Monthly Fee Waiver Potential
Unlike other Chase checking accounts, such as the Chase Total Checking or the Chase Private Client account, the monthly fee for this account cannot be waived, regardless of your account balance or activity.
- Low Savings Rates
If you are interested in moving all of your banking under one roof, you may be disappointed at the APY on Chase savings accounts.
- High Out of Network ATM Fees
Although Chase does have a large ATM network, if you happen to use an out of network machine, you’ll get hit with some fairly hefty fees.
- No Ability to Go Overdrawn
This is both a positive and negative. While you can avoid Chase overdraft fees, it does mean that if you miscalculated, you could end up with bill payments being declined, which could incur charges from your service provider.
Which Type of Customer is Best Suited to the Chase Secure Banking Account?
This account is a fairly basic checking account, but it does provide most of the features you would expect from a conventional checking account. This makes it a great option for those who may have struggled to manage a traditional checking account or don’t have the credit required to open a conventional account.
The account features make it a good fit for those who are interested in taking control of their finances and rebuilding their credit. There is no possibility of going overdrawn and spiraling into debt, yet you can still use an ATM, send Zelle payments and receive your direct deposited salary.
Chase also provides access to your credit scores. You can use Chase Credit Journey so you can monitor how your new financial habits are impacting your credit.
Is Chase a Good Bank to Work With?
Like most bricks and mortar banks, Chase is a little bit of a mixed bag when it comes to the question of if Chase is a good bank to work with.
On the one hand, Chase has an impressive product line, including savings, credit cards, and investing, so you can move all of your finances under one roof. You can also benefit from access to a large branch network and massive ATM network, making finding a location in your local area fairly easy.
However, Chase savings rates are generally on the low side and while you can access customer support 24/7, Chase has a low rating on consumer review websites. The current Trustpilot rating for Chase is a bad 1.3 out of 5, with numerous reviews with negative comments about the level of customer service, fees and other issues.
Opening A Chase Secure Banking Account
While you can open a Chase Secure Banking account in a local branch, it is also very easy to open your new account online. You can accomplish this with a few basic steps.
- Navigate to the Secure Banking Product Page: On the official Chase website, you can find the Secure Banking page under the “Explore Products” tab and then navigate to checking accounts. This page will provide you with all the pertinent details about the account and when you’re ready to proceed, you need to click the green “Get Started” button.
- Confirm Your Customer Status: The first screen you’ll see after clicking the button asks whether you’re an existing Chase customer. If you hold any Chase account including savings accounts, credit cards, mortgages or loans, you can log in and Chase will pre-fill some of the application form details.
- Enter Your Basic Details: If you’re a new Chase customer, you will need to enter some basic details including your full name, address, date of birth, social security number and contact information.
- Confirm Your Citizenship: The next screen is a basic yes/no option as to whether you’re an American citizen. However, if necessary, you can specify another citizenship.
- Complete the Application Form: The final step is to finalize your application and then click “submit.” Chase will process your application and email you with details once your account is opened . Then, you can fund your account with one of the multiple funding options available.
FAQs
Chase periodically offers promotions for new customers. As of September 2024, Chase offers $100 bonus when you open an account and complete 10 qualifying transactions within 60 days. You’ll need to click through using the promotional link or get Chase to email you a promotional code.
The qualifying transactions include debit card purchases, ACH credits, online bill payments, Chase QuickDeposits and Zelle transactions. After you complete the qualifying transactions, you will receive your bonus into the account within 15 days.
If you want to close your Chase Secure Banking account, you can either visit a local branch and speak to a representative or phone the customer support line. A member of the Chase team will guide you through the closure process and activate your request.
No, the Chase Secure Banking account does not attract interest, so you’ll not earn anything on the account, regardless of your balance.
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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
