Chase Bank is the largest bank and financial institution in the United States.
With more than 4,700 branches and over 16,000 ATMs, Chase provides various products and services. Bank accounts, credit cards, retirement planning, and home and auto loans are just a few of their offerings.
Following a merger with J.P. Morgan & Co. in 2000, Chase Bank became the consumer and commercial banking subsidiary of its new holding company, JPMorgan Chase & Co. The New York-based bank is hugely popular across the country, serving more than half of all Americans.
Chase boasts a massive presence as a traditional banking option. They have brick-and-mortar banks in most states and have an impressive list of mobile banking options.
In this Chase Bank Review, we’ll evaluate Chase’s products and features to help you determine if it’s right for you.
Chase Bank Checking Accounts
Chase checking accounts come in several different forms:
1. Chase Total Checking®
Chase Total Checking is their flagship checking account and provides all the basics that you could expect for entry-level checking — a debit card, physical checks, and access to online banking. The account comes with a $12 monthly maintenance fee, which can be waived by receiving at least $500 in direct deposits monthly, maintaining a $1,500 average daily balance in your checking account, or $5,000 combined across all Chase accounts.
2. Chase Secure Banking℠
Chase Secure Banking works much like Total Checking but doesn’t allow you to overdraft your account. Even if your card accidentally overdrafts (like from an added tip at a restaurant or a recurring payment), you won’t get hit with an overdraft fee. This service comes with an unavoidable fixed monthly fee of $4.95.
3. Chase Premier Plus Checking℠
Chase Premier Plus Checking comes with some added perks for those looking for a more exclusive option for everyday checking,
The monthly service fee is higher, but you’ll get more flexibility to use non-Chase ATMs and earn a bit of interest on your deposits.
You can also get the monthly fee on your Chase savings account waived by linking it to Premier Checking.
Keep in mind that with these added benefits, you’ll have to jump through some hoops to get the $25 monthly maintenance fee waived. You must maintain an average daily balance of $15,000 to avoid the fee or set your accounts to auto-pay on a Chase mortgage. Many people won’t be able to meet those conditions.
4. Chase Sapphire℠ Checking
Chase Sapphire Checking is a premium account designed for higher-income individuals. This account comes with no fee ATM withdrawals worldwide, and you also get access to a dedicated, 24/7 financial services phone line.
5. Chase Private Client Checking℠
Chase Private Client Checking is the company’s top-tier banking service. This account comes with fewer fees, higher transaction limits, and access to a dedicated banking advisor. You’ll also qualify for special deals on business loans and business banking services. The buy-in amount is high, though. You need at least $150,000 in combined assets with Chase to become a Private Client.
6. Chase First Banking℠
Chase First Banking allows young people to open an account and save for the future. Children as young as six can be eligible, and a parent or guardian must be the full legal account owner.
7. Chase High School Checking℠
Chase High School Checking accounts are intended for high schoolers between 13 and 17 years old. This account offers more flexibility than Chase First Banking, but a parent or guardian must co-sign and link their personal account.
8. Chase College Checking℠
As you might expect, Chase College Checking accounts are designed for university and college students. There’s no monthly service fee for up to 5 years if you’re a student between the ages of 17-24 at account opening with proof of student status.
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Chase Bank Savings Accounts
When it comes to savings accounts, Chase isn’t going to win any awards (and neither are their big bank competitors).
Remember that to earn money from your savings account, you should look into the top HYSAs.
Chase offers three types of savings accounts:
1. Chase Savings℠
Chase Savings is your standard savings account that pays a less-than-exciting 0.01% APY on deposits. It has a $5 monthly fee with an average $300 daily balance, $25 in automatic savings monthly, linked College Checking account, linked Chase Premier Plus Checking, Chase Sapphire Checking or Chase Private Client Checking account, or the account holder is under 18.
2. Chase Premier℠ Savings
To qualify for Chase Bank’s premium tier savings account, you must:
- Link the account to a Chase Premier Plus Checking℠ or Chase Sapphire℠ Checking account, and
- Make 5 transactions each month using that checking account
While the difference between the Chase Premier℠ Savings and their regular Chase Savings account used to be greater, these days it only bumps your earnings to 0.02% APY.
3. Certificate of Deposit (CD) Account
CD accounts require a $1,000 minimum deposit, and you can earn a fixed APY by locking your money in the account for a fixed term. When writing this, the terms range from 1 month to 120 months, and the APYs range from 0.01% to 4%. It all depends on how much money you want to put in and how long you’re comfortable not touching it.
Chase Bank Credit Cards
No Chase Bank review would be complete without talking about its credit cards. Chase is well known for credit cards and has many different cards to choose from. There’s a wide range of options, from no annual fee cards to premium options.
We won’t get into all of them in this post, but here are some of the most popular Chase credit cards:
Rewards Credit Cards
The Chase Freedom Unlimited and Chase Freedom Flex cards are great no-fee options with a $200 signup bonus and up to 5% cashback on specific purchases like travel or groceries.
If you don’t mind paying an annual fee, the Chase Sapphire Reserve and Chase Sapphire Preferred offer excellent rewards points for dining and travel. They also have impressive signup bonuses if you spend a certain amount during the introductory period.
Travel Rewards Credit Cards
Chase partners with several hotels and airlines for their travel cards. This means that if you fly a certain airline or stay at a certain hotel, they probably have a card that will max out your rewards while you do so. With many credit cards specifically designed for travelers, there’s no shortage of options.
Business Credit Cards
Whether you run a small business in your hometown or tend to work on the go, Chase has a credit card that will help you do it. Several of their business cards intersect with travel cards and can help you earn points while traveling for work. The cards in this category can net you up to 100,000 bonus points in the introductory period and offer as high as 5% cashback on business-related expenses.
As a big national bank, you can expect to run into some fees with Chase (and its competitors).
The key is to know what fees you might get charged for and how to avoid them.
Outside of what we’ll cover here, keep in mind that big banks work in volume and often waive fees just to keep customers happy (and get them off the phone).
It probably isn’t something you want to abuse, but it never hurts to ask if you’re a generally good client.
With basic accounts, avoiding fees is relatively easy, assuming you’re intentional about the account you sign up for. With premier accounts and credit cards, fees can be tough to avoid because you’re paying a premium for those added perks and services.
Here are some of the fees that Chase charges and how to get around them:
Monthly Maintenance Fees
Aside from the children and student accounts, Chase charges monthly fees on almost every account, which we feel is important to include in a Chase Bank review.
The good news is that most of these fees can be waived by linking a direct deposit, maintaining a minimum or average daily balance threshold, or linking to another Chase account.
Chase is upfront about these fees, so be sure to understand how to avoid them before you sign up.
Non-Chase ATM Fees
You know that annoying fee that the random cash-only bar ATM charges? Unfortunately, Chase tacks on additional ATM fees, too, just for using an out-of-network ATM.
There’s no way around this for basic checking accounts, so if you don’t have Chase ATMs available in your area, it might be worth looking into another bank, especially if you like to have cash on hand.
Premium accounts offer more ways to avoid ATM fees, but there may be a limit on how many ATM fees they will waive each month.
Except for the Secure Banking feature, you can expect it to cost you if you overdraft your account. When you’re already in the red, the last thing you want is to make the problem worse with an overdraft fee.
This might sound obvious, but a good rule of thumb is to only spend what you have on hand.
If you usually carry a low balance and lose track of how much you have, consider the Secure Banking account or set up overdraft protection.
This will link your Chase savings account to your checking account and cover the overdraft amount by pulling it from your savings.
Savings Account Withdrawal Fees
Savings accounts are not intended to work like checking accounts. They are designed for putting money in, not taking money out.
With the relaxation of Regulation D, savers don’t have to worry about the six withdrawal limit from Chase savings accounts. However, Chase can require a 7-day notice for withdrawals from savings accounts for certain amounts.
If you have a CD account, you do not want to withdraw, or you’ll be looking at early withdrawal fees. Since the whole point of a CD is for the funds to stay put, you’ll be penalized up to the entirety of the interest earned on your deposit if you pull money out early.
Annual Credit Card Fees
As mentioned earlier, there are a ton of Chase credit card options. So, if you don’t want to pay an annual fee, simply choose an option without one. However, this is one of the few instances where paying fees actually pays.
For example, the Chase Sapphire Reserve card has an annual fee of $550 — seems high, right?
Don’t get us wrong, it’s a lot, but when you start to look at the card’s benefits, it makes a lot more sense. This card, in particular, comes with one of the highest signup bonuses ($900 in travel when you spend at least $4,000 in the first three months).
On top of that, you’ll get a $300 annual travel credit, and you can earn 3x points on dining, among other perks.
When it comes to credit cards, it’s all about matching up the right card with your lifestyle. There’s no need to pay for a premium travel card if you’re a homebody, but it can pay off big if you’re constantly on the go.
Signing up for a Chase bank account is relatively easy, and you can do so online or at one of their physical locations.
If you’re new to banking, it might be a good idea to pop into a local branch and talk with an advisor to ensure you’re getting started in the right direction.
If you’re a current Chase customer looking to open an additional account, you can do so through the mobile app.
Once your account is open and you’ve made an initial deposit, you should plan to set up online banking at chase.com or on their app.
One of the biggest benefits of a larger bank is that their tech is usually top-tier, and Chase is no exception. You can make transfers, pay bills, and deposit checks from your smartphone.
Signing up for a credit card could be a slightly bigger challenge, as Chase has a reputation for a strict approval process in banking, but if your credit score is in good shape you should be fine.
Chase Bank Promotions
Here are some of the best Chase Bank promotions going on right now:
1. Chase Business Complete Checking® - $400 bonus
Expires: April 18, 2024
Chase Bank is offering business owners a $400 bonus to open a new Chase Business Complete Checking® account.
The requirements are pretty easy to meet: deposit new money at least $2,000 and maintain it for 2 months, and complete just 5 qualifying transactions in the next 3 months. Several activities count as "qualifying transactions", including purchases on your debit card, deposits into the account, setting up a bill payment, and more. See the fine print for the full list, but needless to say, meeting that requirement should be painless.
What's especially awesome about this bonus compared to other business checking account offers is that Chase recently launched the ability for customers to open an account online. Compared to the vast majority of business checking accounts which require you to visit your local branch, opening an account at Chase is significantly more convenient.
If you prefer live help, however, you can still enroll in this offer by entering your email address on the bonus landing page to have an offer code sent to you. Just be sure to take that code with you when you visit a branch.
How to earn the bonus
The Chase Business Complete Checking® sign up offer requires you to deposit and maintain a minimum balance, and optionally, make purchases using the account's card in order to earn the $400 bonus. Full requirements to receive this bonus are:
- Obtain a Chase business coupon using the link below and open a new Chase Business Complete Checking® account.
- Within 30 days, deposit a total of $2,000 or more in new money.
- Maintain at least a $2,000 balance for 60 days.
- Within 90 days of account opening, complete 5 qualifying transactions: debit card purchases, Chase QuickAccept℠ deposits, Chase QuickDeposit℠, ACH credits, wires (credits and debits), and/or bill pay.
- Bonus will be credited to your account within 15 days of meeting the requirements.
2. Chase Total Checking® - $300 bonus
Expires: April 17, 2024
Chase Total Checking® is the most popular account from one of the nation's best banks. You'll have access to more than 4,700 branch locations and 15,000 ATMs, along with a top-rated mobile app.
Your new account can be opened easily online, and earning the bonus is super straightforward: receive a qualifying direct deposit into your new account within 90 days, and Chase will reward you within 15 days.
Keep in mind that Chase Total Checking® does charge a $12 monthly maintenance fee, but there are several ways to have this waived, including maintaining a minimum daily balance of $1,500 or making at least $500 in electronic deposits each month.
Assuming you can keep the account free, we definitely recommend taking advantage of this easy cash bonus from Chase!
How to earn the bonus
The Chase Total Checking® sign up offer requires you to set up direct deposits in order to earn the $300 bonus. Full requirements to receive this bonus are:
- Open a Chase Total Checking® account.
- Within 90 days, have a direct deposit of at least $500 made from either your employer (paycheck or pension) or the government (any benefit such as Social Security).
- Receive your money within 15 days of the deposit posting.
3. Chase College Checking℠ - $100 bonus
Expires: April 17, 2024
College students can earn this super easy bonus from one of our top national banks. Chase is offering $100 for opening a new Chase College Checking account and completing 10 qualifying transactions.
The 10 transactions sounds like a lot, but you have 60 days and everything from ACH credits, mobile check deposits, writing actual checks, Zelle, debit card purchases, and paying bills count.
The sooner you make those 10 transactions, the sooner you get paid: Chase will deposit your new checking account bonus within 15 days of the 10th transaction (but most report that the bonus actually only takes a couple of days).
How to earn the bonus
The Chase College Checking℠ sign up offer requires you to optionally, make purchases using the account's card and set up bill pay in order to earn the $100 bonus. Full requirements to receive this bonus are:
- Open a new Chase College Checking account using the link below.
- Within 60 days, complete 10 qualifying transactions.
- Bonus will be deposited into your new account within 15 days of meeting the requirements.
4. Chase Private Client Checking℠ - up to $3000 bonus
Expires: April 17, 2024
Available nationwide, Chase Bank is offering up to a $3,000 bonus when you open or upgrade to a new Chase Private Client Checking℠ account.
This time around, Chase is offering tiers which lower the barriers to entry, but also provide higher bonus opportunities for those with higher balances.
To earn this premium checking account bonus from Chase, you'll need to transfer at least $150,000 for the first tier (down from $250,000), with the upper tier being $500,000 or more into eligible checking, savings and/or investment accounts – so this promotion is clearly geared toward those with deep pockets.
That said, the new funds can be cash from another bank or securities held at a competitor brokerage, and the deposits can go into one or a combination of Chase accounts. There are some rules about which accounts are eligible though, so be sure to read the fine print!
Like most Chase coupons, you'll need to first enter your email to receive an 'upgrade code'. You'll then take that code into your local Chase branch to enroll in the offer.
Tip: If you already have a Chase Private Client Checking account, you can skip the code and branch visit, and simply deposit the new funds to your eligible accounts.
How to earn the bonus
The Chase Private Client Checking℠ sign up offer requires you to deposit and maintain a minimum balance in order to earn the $3000 bonus. Full requirements to receive this bonus are:
- Receive an upgrade code using the link below (you may need to use a private or incognito browser).
- If you don't already have a Chase Private Client Checking℠ account, meet with a Chase Private Client Banker to open or upgrade to one.
- Within 45 days of enrolling in the coupon, transfer a total of $150,000 - $249,999 in new money or securities to one or a combination of your eligible accounts (see fine print), earn $1,000; $250,000 - $499,999 earn $2,000; $500,000+ to earn $3,000
- Maintain that balance for 90 days from the coupon enrollment.
- Bonus will be deposited into your Chase Private Client Checking℠ account within 40 days of meeting the requirements.
5. Chase Secure Banking℠ - $100 bonus
Expires: April 17, 2024
Chase Bank is offering new customers $100 when they open a Chase Secure Banking℠ checking account with qualifying activities.
This account does have a low monthly fee, but in exchange offers perks like no fees for cashier's checks and money orders.
How to earn the bonus
The Chase Secure Banking℠ sign up offer requires you to optionally, make purchases using the account's card and set up bill pay in order to earn the $100 bonus. Full requirements to receive this bonus are:
- Open a new Chase Secure Banking account.
- Complete 10 qualifying transactions (debit card purchases, online bill payments, etc) within 60 days of coupon enrollment.
- Bonus will be deposited within 15 days of completing the requirements.
As the largest bank in the U.S., you don’t have to worry about your data and money security.
Chase Bank is FDIC-insured, and like all banks, they employ industry-leading cyber-security measures to secure their online banking platform.
Check out how Chase protects you from a security standpoint.
Chase has several customer support options to help resolve any issue that might arise.
On their customer support website, you can access helpful tools, videos, and FAQ explainers about the most common problems. They also provide how-to videos for basic tasks such as making deposits, replacing lost cards, or finding account numbers.
These resources exist to help you help yourself since they’d prefer to keep phone volume more manageable with so many customers.
If you do need to speak with someone, Chase has a dedicated technical support line, and you can also reach out on Twitter or Facebook. For larger issues, you can go online and schedule an in-person meeting with a representative at your local branch.
Chase has a less-than-excellent 1.3 out of 5-star rating on Trustpilot with nearly 1,500 customer reviews. Here are what some customers of Chase Bank have to say:
Have had several accounts with Chase over the years. Always very responsive and helpful with any needs
Daniel Booth Trustpilot
Good company. Most comments here are complaints. People that are happy forget to leave a review. I have a good relationship with my local branch. The company has good customer service compared to others.
Amelia Garcia Trustpilot
I called them to get some information. It was pretty kind but a little bit difficult to connect with the agent.
Vicky Y. Trustpilot
Pros & Cons
Here’s where Chase shines and where they fall short:
- Wide variety of products
- Many branches
- Convenient for travel
- Excellent credit card rewards
- Accounts for all ages
- Exceptional mobile app and online banking platform
- Too many account fees
- Low-interest rates
- Less personalized customer support
Frequently Asked Questions
To wrap up, let’s take a look at some of the most common questions we’re hearing from our readers.
Is Chase a good bank?
Chase Bank offers all of the flexibility, market presence, and services you could expect from a “Big Four” bank, but it also comes with its limitations. Whether or not Chase is right for you depends on your banking habits and financial goals.
Is Chase better than Bank of America?
Chase Bank and Bank of America are “Big Four” banks with massive presences and huge customer bases.
That said, they have quite a bit in common, such as unappealing interest rates, robust product inventories, tons of locations, and numerous customer support options.
Most people would agree that Chase separates itself from BoA in the arena of consumer credit cards. Not only does Chase have significantly more cards to choose from, but they also have a much better credit card rewards program, along with more attractive sign-up bonuses.
Does Chase really give you $200?
Yes, Chase will currently give you a $200 bonus for opening a Total Checking Account with a linked direct deposit.
They also offer a $200 bonus with the Chase Freedom Unlimited Credit Card if you spend at least $500 within the first three months after activation.
Is Chase Bank good for savings accounts?
It depends on what you mean by good. Are they convenient, user-friendly, and easy to link with a checking account? Absolutely.
Will they earn you as much as possible through interest? Absolutely not.
Chase savings accounts are easy to open and maintain, and they can be managed through the bank’s outstanding online banking platform — but if you’re looking for a high APY, look elsewhere. Also, if you want to avoid monthly fees, you might want to look into other options.
Is Chase Right For You?
Ultimately, if you’re looking for convenience, a large national presence, and some killer credit card rewards, then Chase is probably a great option for you as we’ve determined in this Chase Bank review.
That being said, Chase isn’t available in all states, so make sure to look into that before signing up.
Also, if you’re looking for an account that’ll earn you more interest on your accounts, you might be better off checking out an online bank or a credit union. Both options typically offer more competitive APYs.
Furthermore, if you absolutely loathe bank fees, Chase probably isn’t a good match.
Chase Bank offers all of the flexibility, market presence, and services you could expect from a “Big Four” bank, but it certainly comes with its limitations as well. Whether or not Chase is right for you depends on your banking habits and financial goals.
Here’s to finding the best bank for you on the path to prosperity.