We can’t talk about Chase bank’s review without talking about Chase’s history. Do you know that Chase Bank serves almost half of the U.S. population? Actually, Chase bank is a division of JPMorgan Chase & Co. It has over $2.6 trillion in assets with branches in cities across the U.S. This bank has top-notch online services that help you to bank from the comfort of your home. Keep reading to learn more about Chase.
- Free checking is available from a megabank (with fee waivers).
- It has almost 4,900 Chase-owned branches and 16,000 ATMs in the U.S.
- This bank has a broad selection of bank accounts and credit cards
- Very low-interest rates for savings accounts and CDs.
- The tendency for monthly fees if you don’t qualify for a waiver.
- Limited branch presence outside of metropolitan areas.
Chase Bank is best for the following persons:
- For those who want a free checking account, it is best for them. Those who qualify for a waiver can easily do online bill pay, debit card, and paper checks.
- Those who want to bank relationships (and passwords) by opening credit cards and checking accounts at the same institution.
- People who bank in person or use ATMs frequently also need this bank.
- Lastly, for people who want to earn rewards for using a credit card.
Chase Bank Services
Chase Bank offers a broad range of products and services for both individuals and businesses. No wonder Chase bank is leading in the US in the list of Best National Banks.
To start with, the Chase Savings account pays a small amount of interest. However, the APY is terrible. As of Feb. 24, 2020, the account pays 0.01% APY, while the best high-yield savings accounts in other places are more than 2.00%. Also, there is a $5 monthly fee. Interestingly, you can qualify for a fee waiver if you meet any of the following criteria:
- Keep your balance above $300 at the beginning of each day.
- Save at least $25 monthly from a personal Chase checking account or Chase Liquid card.
- Link a Chase College Checking account, and use the savings account for overdraft protection.
- If you are under the age of 18, you won’t pay the fees.
- Link this account to specific premium Chase checking accounts.
Also, Chase savings accounts give room for six withdrawals per month. This includes withdrawals from a teller or ATM, each transaction counts against your limit. After using up your six withdrawals, you pay $5 for each subsequent withdrawal in the month.
However, this withdrawal limit is worse than what’s required by Regulation D limits under federal law (which doesn’t restrict certain withdrawals such as ATM and branch withdrawals).
Chase Total Checking
This is Chase’s most popular checking account. It has an online bill pay option and access through a mobile app. With this account, you don’t need to visit a bank at all. Its basic features include:
- ATM check deposit.
- Paper checks.
- Mobile check deposit.
- Zelle transfers to friends and family.
It has a monthly fee of $12, but you can qualify for a waiver by meeting any of the following requirements:
- Get direct deposits of at least $500 per month into your account (including ACH transfers from other banks).
- Reserve at least $1,500 in your account.
- Keep at least $5,000 combined in eligible linked accounts and Total Checking.
In case you are using this as your primary checking account, it can work as a free checking account if you earn at least $500 monthly and set up a direct deposit.
Chase Sapphire Checking
This card gives additional benefits. However, it has higher banking fee-free. Also, there are 24/7 customer support and higher ATM and debit card limits, this account includes:
- Interest on your balance.
- Four free overdrafts per year.
- No ATM fees worldwide. Chase does not charge foreign ATM fees with this account, and you receive rebates on fees imposed by ATM owners, as well.
- It has no wire transfer or stop payment fees.
Chase Premier Plus Checking
This account pays a small amount of interest and gives a few freebies monthly. But the interest earnings are as low as 0.01% APY.
It also has a $25 monthly fee which you can avoid if you meet one of these criteria:
- Keep your daily balance at $15,000 or higher in qualifying Chase Bank accounts.
- Have a qualifying Chase mortgage that you pay from your Chase account.
Chase Premier Plus Checking has all of the features of Total Checking. Also, you get a few perks, like the ones below:
- Free basic personal checks, counter checks, money orders, and cashier’s checks
- Four foreign ATM withdrawal fees are waived per month (the ATM owner may charge fees, and Chase may charge extra when using a currency besides U.S. dollars).
- The tendency to waive the monthly fees on additional Chase checking and savings accounts.
- Free or discounted safe deposit boxes.
- Chase Premier Savings
- This account permits you to earn a bit more than the standard Chase Savings account. However, the difference is small. To earn higher rates, keep a sizable balance in a Chase Premier Plus Checking or Chase Sapphire Checking account. Lastly, complete at least five transactions per month in those accounts.
- Furthermore, Chase Premier Savings has a $25 monthly maintenance charge. To qualify for a waiver, take any steps below:
- Open a linked Chase Premier Plus Checking or Chase Sapphire Checking account.
- Like the standard Chase Savings account above, withdrawal limits apply.
- Keep at least $15,000 in the account.
Other perks and discounts on additional Chase services
However, to qualify for a waiver of the $25 monthly fee, keep an average balance of $75,000 in eligible accounts or investments with Chase.
Chase Secure Checking
This card is for people who are just getting on their feet financially. It has no paper checks at all but you can pay bills online bill pay or with your debit card. Below are its features;
- $4.95 monthly fee
- No minimum deposit is required.
- There are no overdraft fees
Chase College Checking
This is Chase Bank’s version of student checking. It is designed for customers who open an account between the ages of 17 and 24. Also, it has a $6 monthly maintenance fee. But you can qualify for a waiver by:
- Enrolling in college (up to five years).
- Having a monthly direct deposit into the account.
- Keeping an average daily balance of at least $5,000
- By linking a Chase Savings account to this one for overdrafts, you’ll pay no monthly fees on the savings account.
Actually, this account is very affordable for college students who spend their time studying, as opposed to earning income.
Chase High School Checking
This account is for people who want to help their children learn how to manage a budget and save money. The account is for kids between the ages of 13 and 17 and has no monthly fee. However, a parent or guardian with an eligible Chase Bank checking account must be a co-owner of the account, and the account converts to a Total Checking account when the child reaches age 19.
Certificates of Deposit
Chase Bank CDs demand $1,000 to open. The account holder can select a term from one month to 10 years. However, the interest rate is quite low. To increase your rate, do your best to qualify for a “relationship rate” with a linked checking account and a purchase of at least $10,000. These CDs are available for terms of 21, 24, 30, 36, 42, 48, 60, 84, and 120 months.
Chase Bank CD Rates as of March 19, 2020
Term $0-$9,999.99 $10K-$24,999.99
1- 2- or 3-Month 0.02% 0.02%
6-Month 0.10% 0.20%
9-Month 0.10% 0.20%
12-Month 0.02% 0.02%
15-Month 0.05% 0.15%
18-Month 0.10% 0.20%
21- to 120-Month 0.10% 0.20%
It is important to know that Chase Bank charges early withdrawal penalties on CDS that vary with term length. If you cash out before the CD matures, Chase deducts the penalty, this usually reduces the amount you get.
What about Credit Cards?
Chase Bank has a lot of credit cards. Their cards suit a lot of people including people: building up travel points, pursuing cashback, consolidating debt, or running a business, and lots more. Just make your choice from the list below:
Travel Rewards Cards
Chase Sapphire Preferred Card
Chase Sapphire Reserve
Cash-Back Credit Cards
Also, Chase Freedom
Chase Freedom Unlimited
Also, Chase Freedom Student
Balance Transfer Credit Cards
Also, Business Credit Cards
Ink Business Preferred Credit Card
Also, Ink Business Cash Credit Card
Lastly, Ink Business Unlimited Credit Card
Other Financial Products from Chase Bank
Chase Bank has a broad range of additional products and services:
Managed investment portfolios
Business checking accounts
Chase Bank Customer Service
Home equity loans
Home equity lines of credit (HELOCs)
Furthermore, Chase Bank is well known for top-notch customer service and satisfaction. The bank has so many resources. No wonder the J.D. Power 2019 U.S. National Banking Satisfaction Study shows Chase Bank in first place. They invest heavily in technology, training, and staff to help clients keep their assets at Chase. No wonder why they have a lot of customers.
You can access Chase bank customer service online 24/7. Customer service is available by phone seven days per week from 6 a.m. to midnight Eastern Time. But business accounts and private client relationships have 24/7 access.
How to Bank With Chase Bank
If you want to open an account, visit Chase.com or go into a branch to open an account. For inquiries, call 1-800-935-9935. To open an account, provide your personal information.
For certain accounts, as shown above, there is no monthly fee. Cards are designed to suit each individual’s needs. Choose from a variety of credit cards that help you make the most of your spending. You can easily manage your accounts, and move money to other banks without charges. Lastly, they have lots of branches in major metropolitan areas.
Their interest rates on savings accounts are very poor. Some monthly fees too are outrageous. If you want to earn good interest on your savings, this bank is not for you.
Chase Mobile App
So, what is this app all about? Chase Mobile is a banking app like other ones but with some unique features. You can manage your accounts, pay bills, pay people, etc. In addition, you can do this without risk and comfortably. Again, we are going to show you some cool features of this app.
Manage Your Accounts
- View your account balance at Sign in using Account Preview.
- Monitor your checking, savings, credit card or J.P. Morgan investment activities.
- Set up travel notifications for your debit and credit cards.
- Set up Account Alerts and adjust your preferences.
- Use Chase QuickDeposit® to deposit a check just by taking a photo.
- Check and get updates on your credit score.
Make Payments and Transfer
- Schedule, edit, or cancel payments for your Chase credit card and your other bills.
- Send and receive money with people using Zelle®.
- Transfer money between your Chase accounts.
- Lastly, Send wire transfers.
Offers and Deals
- Track and redeem your rewards with Chase Ultimate Rewards®.
- Send friends and family a digital gift card.
- Earn statement credit by using Chase Offers with your eligible credit and debit cards.
- Lastly, Grow your savings automatically with Autosave.
Manage Your Investment with J.P. Morgan
- You can easily get commission-free* trades for stocks, and options*. Also, you can exchange-traded funds (ETFs). In addition with, mutual funds and more when you invest online with J.P. Morgan Self-Directed Investing.
Connect with Chase
- Firstly, you can find the closest chase branches and ATMs.
- Also, you can speak with a service representative 24/7
There are so many features in the app however, it is not for everyone. To clarify, these features are for only eligible customers. In addition, if you check your balance, not all transactions will reflect. That is to say, you might not see recent debit card transactions. Furthermore, you need a qualified chase transfer account to transfer via text.
Chase doesn’t charge fees, although your service provider might charge. In addition, not all alerts may be delivered immediately for some reason. And that could be service outages, technology failures, and system capacity limitations.
Commission- you can participate in free online trading in the U.S. listed stocks, Exchange-Traded Funds (ETFs), and options. However, the options trader pays a $0.65 per-contract fee.
Sales are subject to a regulatory transaction fee of between $0.01 and $0.03 per $1,000 of principal. In addition, if you must own a certain investment, then there are costs. Likewise, ETFs are one of those costs.
Also, offer terms and pricing can be changed or terminated. Furthermore, other fees and restrictions apply. Visit youinvest.com/pricing for terms and conditions.
Options contract and other fees may apply
J.P Morgan Wealth Management is a business of JPMorgan Chase & Co. They offer investment products and services. However, they do this through J.P. Morgan Securities LLC (JPMS). This JPMS is a registered broker-dealer and investment advisor; in addition, they are members of FINRA and SIPC.
Certain custody and services are provided by JPMorgan Chase Bank, N.A. (JPMCB). In addition, JPMS, CIA, and JPMCB are affiliated companies under the control of JPMorgan Chase & Co. However their products are not available in all states.
- Firstly, NOTA DEPOSIT
- NOT FDIC INSURED
- NO BANK GUARANTEE
- Lastly, MAY LOSE VALUE
In short, this is the best we can give on Chase’s mobile app.