At A Glance
Chase Bank is one of the Big Four Banks in the United States with more than $2.6 trillion in assets. This bank offers an impressive lineup of everything from banking to investments to loans, and popular reward-based credit cards. This massive financial institution has one the largest networks of ATMs and branches, with over 5,000 bank locations and 16,000 ATMs nationwide. In front of it all, Chase Bank is known for its solid U.S.-based customer service, offering something for everyone.
Mission Statement: “So You Can”
Chase Bank promises to put the customer first, by letting them decide what
they need and how they access their money.
| Benefits | Drawbacks |
|
|
Types of Accounts
Chase Bank provides a number of checking, savings, credit cards, CDs, auto loans, mortgages, investing and business banking. For each service there is a multitude of options to suit every customers lifestyle. Too many to list all so here are the most popular ones:
Chase Certificates of Deposit (CDs)
Chase Total Checking
Chase’s most popular checking account. It’s a very minimalistic account without any major perks or interest. The $12 service fee can be waived if you meet any of the following criteria:
- $500 or more direct deposit each month
- $1,500 minimum daily average
- $5,000 average beginning daily balance across all eligible Chase accounts
Chase offers one standout feature across most of its checking and savings account – Zelle. A transfer network that allows instant transfers to anyone with a participating account.
Chase Sapphire Checking
Due to the large success of the Chase Sapphire Credit Card, this premium checking account was added to the Chase lineup. A premium account with major banking benefits for a higher monthly fee of $25. Waiving this fee requires a minimum daily combined balance across all your Chase accounts of $75,000 but also gets you:
- Worldwide ATM access
- No ‘other bank’ ATM fees
- 01 Interest
- Other fee waivers for banking services
Chase Premier Plus Checking
Chase Premier Plus is the main checking account to offer a mere 0.01% interest rate. This account also comes with a $25 monthly fee, unless you maintain an average daily combined balance of $15,000 (including investments) or a Chase mortgage. Benefits of this account include:
- Free Checks
- Four monthly ATM reimbursements
- Free safety deposit box
Chase Savings
This savings account only requires a $300 minimum beginning daily balance in order to wave the tiny $5 per month fee. Interest rates however are the lowest at 0.01%. Needless to say, this bank account isn’t worthwhile for anyone, unless you truly desire to keep all your banking services under one roof and cannot meet the required minimum for the Premier Savings account.
Chase Premier Savings
The Chase Premier savings account especially works in your favor if you already have a Premier Plus checking or a Sapphire checking account. This combo or maintaining a $15,000 daily average beginning balance will get the $25 monthly fee waived. Interest rates are slightly better but still low ranging between 0.04% – 0.09%.
Chase Certificates of Deposits (CDs)
Chase CDs are available with an opening deposit of $1,000 or more. starting rates are 0.02% for 1-month CDs. CDs greater than $100,000 require you visit a branch location. The best rates fall under longer CDs, 21-months to be exact. Below are the current rates:
| CD TERM | $0 – $9,999.99 | $10K – $24,999.99 | $25K – $49,999.99 | $50K – $99,999.99 | $100K – $249,999.99 | $250K+ |
| 1-Month | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| 2-Month | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| 3-Month | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| 6-Month | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| 9-Month | 1.01% | 1.75% | 1.75% | 1.75% | 2.00% | 2.00% |
| 12-Month | 0.02% | 0.02% | 0.02% | 0.02% | 0.05% | 0.05% |
| 15-Month | 0.05% | 0.15% | 0.15% | 0.15% | 0.20% | 0.20% |
| 18-Month | 0.15% | 0.25% | 0.25% | 0.25% | 0.30% | 0.30% |
| 21-Month | 1.40% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% |
| 24-Month | 0.90% | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% |
| 30-Month | 0.90% | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% |
| 36-Month | 0.95% | 1.06% | 1.06% | 1.06% | 1.11% | 1.11% |
| 42-Month | 0.95% | 1.06% | 1.06% | 1.06% | 1.11% | 1.11% |
| 48-Month | 1.01% | 1.21% | 1.21% | 1.21% | 1.26% | 1.26% |
| 60-Month | 1.01% | 1.21% | 1.21% | 1.21% | 1.26% | 1.26% |
| 84-Month | 1.01% | 1.21% | 1.21% | 1.21% | 1.26% | 1.26% |
| 120-Month | 1.36% | 1.46% | 1.46% | 1.46% | 1.51% | 1.51% |
In addition to Chase’s online customer support and variety of terms, Chase CDs have the following benefits:
- Daily compounded interest
- Chase customer rewards
- Automatic Renewal and no monthly service fee
- Long and short terms available (ranging from 1 – 6 years)
Credit Cards
Chase bank offers 21 different credit cards, each centered around different rewards. Their stellar lineup includes the popular and lucrative Chase Sapphire Preferred credit card and the ultra-premium Chase Sapphire Reserve credit card.
Below are the top five major cards offered:
- Chase Freedom: Offers you $150 bonus once you spend $500 on purchases during the first 3 months. Cash back is then earned up to 5% up to $1,500 in bonus categories as well as an unlimited 1% on all other purchases. This card has no annual fee.
- Chase Freedom Unlimited: New members earn 3% cash back for the first year on all purchase up to $20,000. Afterwards, you earn an unlimited 1.5% cash back on every purchase with no annual fee.
- Chase Slate: This card offers you the opportunity to simplify your finances with a 60-day introductory balance transfer offer. Also offers low interest, no annual fee and only a 5% fee of future balances transferred.
- Chase Sapphire Preferred: This card offers premium travel and dining rewards and comes with 60,000 bonus points once you spend your first $4,000. Earn Chase Ultimate Rewards points with every purchase: 2X points per dollar at restaurants and any travel company. Points can be redeemed through the Chase portal at 1.25 cents per dollar or transferred to a partner for even more value. The annual fee is $95 but is waived for the first year.
- Chase Sapphire Reserve: This premium card provides exceptional travel rewards and benefits which include: airport lounge access, 3X points per dollar on travel and restaurant purchases, 1.5 cents per point when redeeming via the Chase portal, and the same list of transfer partners as the Sapphire Preferred. The annual fee however is high, at $450 per year, but well worth it if you travel frequently.
Chase Bank is also well-known for its partnered credit cards with popular airlines, hotels, restaurants, and businesses. Included in this particular lineup are: Disney, Amazon, Starbucks, United Airlines and Hyatt.
Mortgages and Loans
Being such a large bank, Chase offers a number of loans that include mortgages, car loans, business loans even home equity loans. They also provide more specialized loans such FHA, VA and Jumbo loans.
Mortgages and other loan rates are competitive to the market at Chase Bank, a simple way to reduce some costs is by having a checking and/or saving accounts at Chase as well in order to waive fees.
Investments
Investing at Chase bank is well-known for its consistency and performance. Chase Financial Advisors will help you get set up with the right investment strategy based on your needs, goals and risk tolerance. Chase Bank offers various types of investing that also include – but do not limit – college savings plans, mutual funds and retirement accounts.
High net worth clients often qualify for the portfolio approach and become Private Clients at Chase Bank. This provides you with exceptional customer service and portfolio managing for all your Chase products, banking included.
Chase Bank offers a special investment type “You Invest” by JP Morgan. This investment program offers 100 commission-free trades for stocks and ETFs for the first year and the lowest trade fee of $2.95 afterwards.
Other Accounts & Offerings
Business banking is also available at Chase Bank for businesses of all sizes, offering credit cards for business needs as well. Chase also provides Merchant Services that help your business collect payments from customers worldwide. ADP, a partner of Chase bank, offers to businesses payroll solutions and more.
Additionally, family-style banking is also offered, including student accounts and select credit cards for young adults.
Referral bonuses are available to any Chase Member where you can earn up to $500 a year when you refer a friend to open a qualifying checking or savings account.
Chase Bank also allows anyone to enroll for a free credit report. You don’t even need to be a customer of any kind.
Online Features
Chase Bank offers an impressive mobile app available for iOS and Android devices. The app allows you to view your account balances, find the nearest ATM or branch location, pay your credit card bills, transfer money and more. There’s also the option QuickDeposit, which permits you to deposit checks by taking a picture, at the cost of a small fee.
Any Chase debit or credit card supports the Digital Wallet option through Apple pay, Google Pay, Samsung Pay and even Chase Pay (if you prefer to not use your device specific wallet application).
Zelle Network allows users to send money to various banks around the country, as long as they are a participating bank. The transfers happen instantly.
About Chase Bank
Led by influential CEO Jamie Dimon and headquartered in New York, Chase Bank is a subsidiary of the financial services holding company JPMorgan Chase. Operates in over 100 countries and offers more than 5,100 branches and 16,000 ATMs in the US alone.
It is one of the oldest banks in the US and is not only one of the largest financial institutions but also one of the best in America. Chase Bank ranked second in last year’s national J.D. Power National Bank Satisfaction Study and received a perfect rating in the JDPower.com Power Circle Ratings.
Providing customers with exceptional products and customer service along with excellent online and mobile banking tools; Chase Bank is widely known and respected as a financial powerhouse.
Chase Bank is available in the following states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kentucky, Louisiana, Massachusetts, Michigan, Nevada, New Jersey, New York, Ohio, Oklahoma, Oregon, Texas, Utah, Washington, West Virginia, and Wisconsin.
The Bottom Line
Chase Bank is a good choice if you’re looking to keep all your banking needs under one roof. They make it easy to access your money wherever you are and provide stellar customer service.
With their options catering to just about everyone in every possible scenario, Chase makes it ideal to choose Chase Bank for your personal and business needs. On the other hand, their extremely low interest rates and high fees for certain accounts might make you reconsider if you want to see your money grow.