Chase Private Client Review 2023

If you have at least $150,000 in liquid assets, you can leave them in a bank account, then consider becoming a Chase Private Client.

You’ll have access to extraordinary APYs, low fees, and many investment and banking services average clients don’t receive.

While moving all your assets to Chase might take some legwork, it can be worth the savings in fees and the money earned in interest to make the move.

Chase Private Client Overview

So, what is Chase Private Client? The Chase Private Client program is an elite banking program offered to select clients with high balances in Chase bank and investment accounts.

Chase Private Clients get access to lower banking fees, higher interest rates, and banking perks other clients don’t receive.

In addition, if you maintain a balance of $150,000 in combined Chase deposit accounts, you won’t pay the $35 monthly maintenance fee the account requires.

Chase Private Client Benefits

Chase Private Clients have access to many benefits, including discounts, special privileges, and access to higher limits than traditional clients.

Everyday Banking

Chase Private Clients have access to lower (or no) fees on everyday banking tasks, including the following:

• No ATM fees worldwide
• No Chase fees on wires (incoming and outgoing)
• No Foreign Exchange Rate Adjustment fees by Chase
• No overdraft fees on the first four overdrafts of the year
• Fast replacement of lost debit or credit cards

Concierge Banking

In addition to the everyday banking perks and higher daily limits, Chase Private Clients have access to the following:

• Free 3 x 5 safe deposit boxes or 20% off larger safe deposit boxes
• No fees on cashier’s checks, counter checks, and money orders
• Free personalized checks
• Access to a 24/7 customer service line meant specifically for Private Clients

Higher Daily Limits

Chase Private Clients are eligible for higher daily limits than traditional clients, including the following:

• You can deposit up to $100,000 daily in QuickDeposit (mobile deposit) or $250,000 every 30 days. This limit occurs after the first 90 days as a Chase Private Client. In the first three months, the limits are $25,000 per day and $100,000 every 30 days.
• Zelle limits increase to $5,000 daily and $40,000 every 30 days.
• Can withdraw up to $3,000 daily in ATMs.
• Can make purchases up to $7,500 using your Chase Private Client debit card.

Devoted Team

Private Clients have access to personalized services to manage their everyday banking needs. Your Private Client Advisor will get to know everything about your financial situation, including your goals, to help you reach them in your everyday banking and investment journeys.

Private Clients also have access to a Home Lending Advisor who can help with all their home lending questions and needs and a Business Relationship Manager if you own a business. This professional will get to know you and your business and help you get the proper financial assistance to reach your financial goals.

Perks

As a Chase Private Client, you’ll receive some or all of the following:

• Exclusive invitations to financial seminars and events, as well as family experiences and other unique opportunities, such as cultural experiences and thought leadership.
• Access to auto loan rate discounts of 0.25%.
• The ability to build CD ladders with varying maturity dates to reach financial goals.
• Access to Privilege Cards that you can set spending limits on for family members.

Bonus Promotions

Chase often runs bonus promotions to entice new clients to take advantage of the Chase Private Client program.

Here are some of the best Chase Bank promotions going on right now:

1. Chase Private Client Checking℠ - up to $3000 bonus

Expires: July 19, 2023

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:

1. Receive an upgrade code using the link below (you may need to use a private or incognito browser).
2. 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.
3. 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
4. Maintain that balance for 90 days from the coupon enrollment.
5. Bonus will be deposited into your Chase Private Client Checking℠ account within 40 days of meeting the requirements.

read the full terms

Apply now to earn the $3000 bonus from Chase

Learn More:

• See all current offers from Chase Bank

Business Benefits

Chase Private Clients also have access to a large variety of business benefits, including:

• If you have a Chase Private Client Checking and Chase Platinum Business Checking account, they’ll waive the monthly service fee.
• Chase Private Clients need a minimum balance of only $50,000 in their Chase Platinum Business Checking if linked to a Chase Private Client checking account.
• No fees on incoming or outgoing wires.
• No fees on Chase Business Complete Checking account if linked to a Chase Private Client checking account.

Features

Along with access to a Private Client Banker and Private Client Advisor for investments, Private Clients have access to more features, including the following.

Fee Waivers

Chase Private Clients pay few (if any) fees. They also don’t have deposit and transaction limits like standard Chase clients have.

For example, Private Clients don’t pay fees for checking accounts, wires, ATM transactions, safe deposit boxes, or cashier’s checks. This doesn’t mean they don’t pay any fees, though. You can view the miscellaneous fees here.

Chase Private Clients also don’t have the same transaction limits on ATMs, Zelle, mobile deposits, or daily purchases on the Visa debit card as regular clients.

Investments

Chase Private Clients have access to free trading using Self-Directed Trading by J.P. Morgan on ETFs and stocks. In addition, each client can have up to two taxable and two retirement accounts.

However, this doesn’t apply to any assets held under the Automated Investing program, Chase’s robo-advisor.

Securities-Based Lending

Chase Private Clients can borrow a line of credit using their portfolio as collateral. The funds can be used for anything except to purchase more securities. The line of credit usually has low-interest rates because of the collateral in the investment portfolio.

Discounted Borrowing

Chase Private Clients also have access to lower interest rates on other loans not secured by their portfolios, including the following:

• Mortgage discounts: Private Clients can get 0.125% – 0.25% off the regular mortgage rates; it depends on the total deposits. Clients with $500,000 – $999,999 get 0.125% off, and clients with over $1 million get 0.25% off.
• Lower processing fees: Private Clients save $500 off mortgage processing fees with assets of $150,000 – $499,999 and pay no fees with assets totaling $500,000+.
• Lower auto loan rates: Private Clients get reduced auto loan rates by 0.25%.

Downsides of Chase Private Client

Like any bank product, there are downsides to being a Chase Private Client, including the following:

• High qualification requirements: To meet the high qualification requirements, you may need to move money around, open new Chase accounts, and potentially incur tax liabilities for any capital gains to meet the $150,000 minimum.
• Frequent traders may not prefer Chase’s investment products: Automated Investing by J.P. Morgan is best for infrequent investors who want a hands-off approach. They don’t offer an option for more frequent traders looking for day trading opportunities.
• Accounts are by invitation only: Despite the higher deposit requirements, accounts are by invitation only and can be harder to achieve for ‘everyday’ people.

Qualifying for a Chase Private Client

Understanding how to qualify as a Chase Private Client is important. Chase is transparent in their requirements and allowances for different asset tiers. Here’s how to qualify.

Chase Private Client Minimum Balance

First and most importantly, you must maintain an average daily balance of $150,000. However, this can be in a combination of Chase deposit and investment accounts. It doesn’t have to be in one account.

It’s important to note that you must keep this balance monthly to remain eligible as a Private Client.

Even when you reach the threshold, you must receive an invitation from Chase to be CPC. If you don’t receive an invitation, you can apply online to see if you qualify.

How to Apply for a Chase Private Client

If you’re an existing Chase customer, you must meet with a banker in person to determine if you’re eligible to be a CPC.

If you are a new Chase customer, click here and complete the application, which includes information about your personal and financial life to see if you qualify.

Comparison to Other Chase Accounts

Chase is one of the largest banks in the U.S. and offers many bank accounts. If you don’t have the $150,000 minimum or wonder if moving your assets from other banks is worth it, here’s how other Chase banking products compare.

Chase Sapphire Checking

The Chase Sapphire Checking account offers no fees on everyday banking, much like CPCs receive, including:

• No ATM fees worldwide
• No foreign exchange rate adjustments
• No wire transfer fees
• No fees on the first four overdrafts in 12 months
• Access to relationship banking rates on deposit products
• Access to Chase First banking for your children
• Access to exclusive sports and entertainment lounges
• Access to early tickets to special events
• Exclusive deals

Chase Premier Plus Checking

The Chase Premier Plus Checking offers more features than a basic checking account, including earning interest on your checking balance.

With Chase Premier Plus Checking, you’ll enjoy the following:

• No monthly service fee with balances of at least $15,000 in combined Chase accounts or with a Chase first mortgage on auto-pay
• No fee for personalized checks
• No fee on the first four non-Chase ATM transactions
• No fee for cashier or counter checks and money orders
• No monthly service fee on up to two linked Chase checking accounts

Chase Total Checking®

The Chase Total Checking® account is the most common checking account for everyday banking. With Chase Total Checking®, you’ll enjoy the following:

• No monthly service fee with balances of at least $1,500, electronic deposits of at least $500, or a combined balance of $5,000 in multiple Chase accounts
• No overdraft fees for overdrafts of $50 or less
• Easy access to your banking needs in the Chase mobile app
• Zero liability protection for the Chase debit card

Chase Secure Banking℠

Chase Secure Banking℠ is a basic checking account with no minimum balance requirements and no overdraft fees. This account does charge $4.95 a month, but you’ll get the following:

• No cashier or counter check fees
• No cash checking fees
• No fee for using a Chase ATM or Zelle
• Free online bill pay
• Access to direct deposit funds up to two days early
• Credit and identity monitoring
• Budgeting tools
• Real-time account alerts

Is Chase Private Client Worth It?

As a Chase Private Client, you get more than a banking service. You get personalized services to help with your banking and financial needs. So you are more than a number when you walk into the bank. You get service from your dedicated banker, who knows you and your financial situation. You’ll also get VIP service and access to lower fees and higher APYs.

So is it worth it? The answer depends on what you’re looking for in a bank account. If you consider your bank a means to an end, it’s likely not worth the stress of maintaining a high balance. However, it may be worth it if you like the special treatment, lower fees, and higher APYs.

Frequently Asked Questions

Chase Private Client bank accounts offer many privileges, but you may still have questions about how it works.

Is Chase trustworthy?

Chase is FDIC insured and offers a large selection of banking products. They also have dedicated financial professionals to help high net-worth individuals, so you know you’re receiving top-quality service that will help you reach your financial goals beyond what the traditional client may need.

How do I contact Chase Private Client?

Chase Private Clients get 24/7 access to customer service by calling 1-888-994-5626.

Is it hard to become a Chase Private Client?

Becoming a Chase Private Client can be time-consuming because you must have at least $150,000 available to deposit and leave in your Chase deposit accounts. However, once you reach that threshold and keep the balance, it’s easy to become a CPC and receive the VIP treatment you desire.

The Bottom Line

If you want special treatment from a bank, consider pooling your assets into a Chase Private Client account. It may take some work up front, but the payoff can be great, giving you access to better rates and terms.

You’ll also have access to top-of-the-line treatment from bankers who know you and your financial situation and won’t have to wonder if your bank has your back.

CPCs also have access to top-quality investment services, making it easy to make the most of your finances and keep everything in one place.