Chase Bank is one of the biggest banks in the country, offering everything from checking and savings accounts to credit cards to mortgages and auto loans. And with around 4,900 banks and 16,000 ATMs across the U.S., Chase Bank offers one of the largest footprints of any bank.
In this review, we’ll check out Chase Bank’s options for checking and saving – including its certificates of deposit (CDs). Although this bank might not offer the high interest rates you’ll find with many of the online-only banks out there, there are plenty of perks to having a Chase account.
Chase Bank Review
Product Name: Chase Bank
Product Description: Chase Bank is a full-service bank that can cover just about any banking, credit card, lending, or investment need. Chase offers account options for everyone from students, up through commercial banking, and everything in between. Chase Bank does not offer high interest rates with their savings accounts. However, the broad line of products and services and extensive network of branches make Chase an excellent everyday banking solution for many customers.
- Products & Services
- Interest Rates
- Fees & Charges
- Website / App
- Customer Service
When it comes to Products & Services, Chase Bank probably offers what you’re looking for. You’ll find options for checking and savings accounts, as well as CDs. But the bank at large also offers loans, credit cards, investment banking, etc. Unfortunately, Chase Bank’s Interest Rates disappoint, and you can find better at many online-only banks. Chase Bank also charges relatively high Fees & Charges, although you can have them waived. The Website/App is easy to use, and you can contact Customer Service 24/7. You can also visit one of Chase’s many brick-and-mortar branches across the country.
Chase Bank Features
|Banking Account Types||Checking, Savings, CDs, Credit Cards, Student Accounts, Investments|
|Other Account Types||Auto Loans, Home Loans, Small Business, Commercial Business|
|Minimum Required Deposit to Open Account||Varies by account|
|Number of Branches||4,900|
|ATM Network Size||16,000+|
|App Availability||iOS, Android|
|Person to Person Money Transfers||Chase QuickPay With Zelle|
|Money Transfers||ACH, EFT, Wire Transfers (fees may apply)|
|Customer Service Types||Phone|
|Customer Service Hours||24/7|
|Member FDIC||FDIC Certificate #628|
|Routing Number / ABA Number||Varies by location|
|Current Promotions||Chase Bank has Several Current Promotions|
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- FDIC Insurance. Each Discover Bank account is FDIC-insured up to $250,000.
- All-in-One App. Chase’s mobile app is particularly good. In fact, you can use it to link up every single Chase account you may have, including car loans and credit cards. You can manage your entire Chase experience from one spot.
- High School Checking. Start your kids off with a custodial checking account, available in-branch only. Chase also offers a fee-free savings account for students, too.
What Is Chase Bank?
Chase Bank is the consumer banking subsidiary of JPMorgan Chase, one of the world’s largest banks. But its history stretches way back to the Manhattan Co., which Aaron Burr founded in 1799 to rival Alexander Hamilton’s Bank of New York (this bit got left out of the musical).
Today, JP Morgan Chase has more than $2.5 trillion in assets. And there are more than 25 million people who bank with Chase.
Chase Bank operates 4,900 branches in 39 states, plus the District of Columbia. And it has more than 16,000 ATMs, making it the country’s largest single bank ATM network.
B yall accounts, Chase Bank is among the largest and the highest-rated banks in the U.S.
How to Get Started With Chase Bank
Whether you apply online or in-person at a local branch, opening a Chase Bank account is easy. You’ll need to gather the following information:
- Your Social Security number
- Your driver’s license or state-issued ID
- Your contact information such as your address, phone number, etc.
- Information about your employment status
- Money for your opening deposit
How much money you’ll need to deposit varies by the type of account you’re opening. Some accounts, including Chase’s checking accounts, don’t have an official minimum requirement for opening, but they carry monthly fees that can be waived by maintaining a certain balance in your account.
Funding Your Chase Bank Account. Obviously, you can fund your Chase Bank account by walking into any one of the nearly 4,900 branches and depositing a check or cash. However, you can also initiate a bank-to-bank transfer online, deposit cash or checks into an ATM, or use the Chase app for QuickDeposit.
Chase Bank Account Options
Chase Bank Checking Accounts
Chase Bank offers three different levels of checking accounts, Chase Total Checking®, Chase Premier Plus CheckingSM, and the Chase SapphireSM Checking account.
Chase Total Checking
The most basic option is Chase Total Checking. This account gives you access to Chase’s network of ATMs and branches, as well as a debit card. With an account, you can also use Chase’s online bill pay service, do simple banking by text, and deposit checks via mobile phone.
There’s a monthly service fee of $12 connected to this account, but it can be waived with one of the following every monthly statement period:
- Making a direct deposit of $500 or more
- Maintaining a balance of $1,500 or more at the beginning of every day
- Keeping an average beginning day balance of $5,000 or more in a combination of this account and linked qualifying deposits or investments
Chase Premier Plus Checking
The next level of checking is Chase Premier Plus Checking This account offers all of the perks of the Total Checking account, plus a few others, including up to four non-Chase ATM fee waivers per statement period, free checks, and waived fees on Chase Savings accounts.
But the biggest reason to open a Chase Premier Plus Checking account is that it pays interest. How much you’ll earn may vary by location. However, the most common rate appears to be 0.01%. You can find better rates with an online-only bank (such as Ally Bank).
Premier Plus Checking accounts have a $25 monthly maintenance fee that can be waived by doing one of the following:
- Keeping an average beginning day balance of $15,000 or more in any combination of this account plus linked qualifying Chase checking, savings, and other balances
- Having a linked qualifying Chase first mortgage enrolled in automatic payments from your Chase Premier Plus account
Chase Sapphire Checking
Chase Sapphire Checking accounts offer all of the benefits of a Chase Premier Plus Checking account, plus a dedicated 24/7 service line, worldwide free ATM usage, and no fees on foreign exchange rate adjustments, incoming or outgoing wire transfer, stop payments, and the first four overdrafts within 12 months.
You’ll also get free access to J.P. Morgan’s You Invest Trade online broker, which offers unlimited commission-free online stock, ETF, and options trades.
The monthly fee for this account is also $25, unless you can maintain an average beginning day balance of $75,000 more in any combination of this account plus linked qualifying Chase checking, savings, and other balances.
Chase Savings Accounts
Chase offers two savings accounts to customers.
Chase Bank’s basic savings account offers a flat interest rate on all balances. Unfortunately, as with most brick-and-mortar banks, the rate won’t be as great as the very high rates you’ll find with online-only banks like Ally Bank, CIT Bank, or Discover Bank.
Chase Savings accounts come with free overdraft protection and charge a monthly fee of only $5. However, you can easily avoid the fee by either:
- Maintaining a beginning-day balance of $300 or more in the account; or
- Scheduling a monthly recurring transfer of $25 or more from a Chase checking account
Chase Preferred Savings
Chase Preferred Savings accounts offer tiered interest rates; the more money in your account, the better the rate you’ll receive (you can find your rate on the Chase website). Again, you will most likely find better interest rates at online-only banks.
Like the basic savings account, there’s a monthly fee associated with Premier Savings. You can have the $25 charged monthly waived by:
- Keeping a beginning-day balance of $15,000 or more in the account; or
- Linking a Chase Premier Plus Checking or Chase Sapphire Checking account
Chase also offers certificates of deposit (CDs) that require a minimum deposit of $1,000. Term lengths vary, from one month to 10 years.
However, to be honest, the rates are underwhelming. You can find more attractive CD rates on our site.
Chase Bank Customer Service
Customer service is the biggest advantage of Chase Bank. If you like close to one of the nearly 4,900 brick-and-mortar branch locations, you can pop in during business hours and talk face-to-face with a representative.
Otherwise, you can phone up for support 24/7. And if you have a Chase Sapphire Checking account, you can have access to 24/7 service from a dedicated team.
Here are the contact details:
- Chase Bank telephone number: 1-800-935-9935
- Chase Bank address: National Bank By Mail, P.O. Box 6185, Westerville, OH 43086
Chase Bank Sign Up Offers
Chase Bank is currently offering several different sign-up bonuses for opening a new Chase Checking account. The bonuses vary depending on which account you open.
Chase Total Checking + Chase Savings — Up to $350 Sign Up Bonus
- Earn a $200 bonus when you open a Chase Total Checking account and set up direct deposit.
- Earn a $150 bonus when you open a new Chase Savings account, deposit a total of $10,000 or more in new money within 20 business days, and maintain a $10,000 balance for 90 days
- Learn more about the Chase Total Checking + Chase Savings Bonus on the Chase Bank website.
Chase Premier Plus Checking — $300 Sign Up Bonus
- Earn a $300 bonus when you open a Chase Premier Plus Checking account and set up direct deposit.
- Learn more about the Chase Premier Plus Checking Bonus.
Chase Total Checking — $200 Sign Up Bonus
- Earn a $200 bonus when you open a Chase Total Checking account and set up direct deposit.
- Learn more about the Chase Total Checking Bonus.
Chase SavingsSM — $150 Sign Up Bonus
- Enjoy a $150 bonus when you open a new Chase SavingsSM account, deposit a total of $10,000 or more in new money within 20 business days, and maintain a $10,000 balance for 90 days
- Learn more about the Chase SavingsSM Bonus on the Chase Bank website.
Chase Bank Pros & Cons
Chase Bank Pros
- Excellent Signup Bonus Offers. You can find powerful incentives to open an account (visit Chase website for more information).
- Full-Service Banking. Chase Bank offers banking products and services for just about every need
- Easy Access to Your Money. Chase Bank operates nearly 4,900 branches and more than 16,000 ATMs.
- Great App and Website. We’ve found Chase’s mobile app and online banking site particularly user-friendly.
- Business Banking. Chase Bank also offers business banking services covering your small business needs up through commercial business banking. Learn more in our Chase Bank Business Checking Review.
Chase Bank Cons
- Poor Interest Rates. Chase Bank’s interest rates are not competitive with what you’ll find at many online banks.
- Fees. Although you can have many account fees waived, there are a lot of online-only banks offer fee-free checking and savings accounts.
Overall, Chase Bank meets most banking needs. I have been a Chase Bank customer for several years now and have been more than happy with the products and services.
That said, there are a couple of considerations before opening an account: Chase Bank has a large footprint, with thousands of branches and a large ATM network. However, you won’t find a new branch in every state. They are currently in 39 of the 50 states.
The other big downside is the low interest rates on their savings accounts. You can find much higher rates at an online-only bank.
Chase Bank accounts are best for those who may be leery of online-only accounts and are willing to sacrifice high-yield interest rates for the convenience and comfort of old-fashioned in-person banking.
As an alternative, you can always use Chase Bank for your full-service banking needs and use an online-only savings account to house your long-term savings or your emergency fund. This will give you the best of both worlds.