Chase Private Client Review 2023

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Chase Private Client

8.9

BankBonus.com rating

Expert Take

Chase Private Clients receive top-notch customer service, have access to low and no-fee services, and have access to stellar investment services. Consider Chase Private Client your one-stop shop for all your financing needs, keeping everything in one place and having exclusive support from bankers that know you and your financial situation.

Pros

  • Devoted Team
  • Higher Daily Limits
  • Everyday Banking
  • Concierge Banking

Cons

  • High Qualification Requirements
  • Frequent Traders May not prefer Chase's Investment Products

Features

10.0

Customer Experience

9.1

Bonus Offers

10.0

Monthly Fees

6.7

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at Chase Private Client

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

You’ll have access to low and no-cost banking services, higher daily limits, access to a team of professionals, and exclusive perks average clients don’t receive.

While moving all your assets to Chase might take some legwork, the benefits can make it worth it.

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 have lower banking fees, higher banking limits, and perks, including lower auto loan rates, access to CD ladders, and invitation-only events.

In addition, if you maintain a balance of $150,000 in combined Chase accounts, including personal or business deposit and investment accounts, you won’t pay the $35 monthly maintenance fee.

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

Higher Daily Limits

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

  • Up to $100,000 daily QuickDeposits (mobile deposit) or $250,000 every 30 days after you’ve had the account for 90 days
  • Up to $25,000 QuickDeposits per day and $100,000 every 30 days within the first three months
  • Send and receive up to $5,000 daily in Zelle
  • Withdraw up to $3,000 daily in ATMs
  • Up to a $7,500 purchase limit 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 your financial situation, including short and long-term goals, to help you reach them in your everyday banking and investment decisions.

  • Home Lending Advisor who can provide assistance with your home lending questions and concerns
  • Business Relationship Manager who can help you with important business decisions, working with your financial professionals
  • U.S.-based Private Client Service Team providing 24/7 support to Private Clients

Perks

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

  • Exclusive invitations for family outings, culinary experiences, and thought-leadership seminars
  • 0.25% discount on auto loans
  • Opportunity to build CD ladders with staggering maturity dates
  • Access to Privilege Cards and set spending limits for family members
  • The ability to build CD ladders with varying maturity dates to reach financial goals.

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: January 24, 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:

  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

Business Benefits

Chase Private Clients can also access various business benefits, including:

  • No monthly service fee if you have a Chase Private Client Checking and Chase Platinum Business Checking account
  • Lower $50,000 minimum balance requirement in Chase Platinum Business Checking with a linked Private Client Checking account
  • No monthly fees on Chase Business Complete Checking account when linked to a Chase Private Client checking account
  • No fees on incoming or outgoing wires

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 that standard Chase clients must follow.

However, this doesn’t mean they don’t pay any fees. Here’s the list of Chase fees Chase Private Clients may encounter.

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 can work with a J.P. Morgan Private Client Advisor to create a custom portfolio that prioritizes your goals, risk tolerance, and beliefs.

They also have access to the J.P. Morgan Wealth Plan, which is a digital collaboration with an advisor to create a personalized finance strategy.

Downsides of Chase Private Client

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

  • High qualification requirements: You must deposit at least $150,000 in new money, which may require some legwork moving money around.
  • Investment products may not be right for everyone: J.P. Morgan has limited investment products that may not be suitable for all investors.
  • Tax consequences: If you aren’t mindful of your tax liabilities, you could unknowingly trigger capital gains taxes and owe more taxes than planned

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 up to four overdrafts per year
  • 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 ordered through Chase
  • 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

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 fees on cashier’s checks or money orders
  • 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 with service from your dedicated banker, who knows you and your financial situation. You’ll also get VIP service, lower fees, and other special perks.

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 special services.

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 an FDIC-insured bank that offers a large selection of banking products. They provide dedicated financial professionals to help high net-worth individuals reach financial goals with personalized service.

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?

Chase is clear about its requirements to become a Chase Private Client; however, it may require some work to move enough money around to reach the minimum balance requirements. You’ll enjoy VIP banking products and services if you can keep the balance amongst a combination of Chase accounts.

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 worth it, giving you access to better rates and terms.

As a Private Client, you’ll also have access to top-of-the-line treatment from bankers who know you and your financial situation, high-quality investment services, and peace of mind knowing your finances are in one place, earning you tremendous rewards.

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