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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 more than 4,700 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
Summary
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
| 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 | 4,700+ |
| ATM Network Size | 16,000+ |
| ATM Reimbursements | No |
| Remote Deposit | Yes |
| App Availability | iOS, Android |
| Bill Pay | Yes |
| 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 See more Bank Promotions |
Additional Features
- 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 fee-free savings account for students, too.
Compare Current Savings Account Rates
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 over 4,700 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.
By all 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 more than 4,700 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 several different levels of checking accounts, including a basic checking account, Chase Total Checking®, Chase Secure BankingSM, Chase Premier Plus CheckingSM, and the Chase SapphireSM Checking account.
Customers can avoid monthly service fees on most accounts in several ways, including by establishing direct deposit, or by maintaining minimum account balances in either their checking account or across all qualifying linked accounts.
Chase checking accounts feature debit cards and access to their network of ATMs and Chase branches. Customers can also use Chase’s online bill pay service, do simple banking by text, and deposit checks via mobile phone.
Chase Total Checking® – $225 Bonus for New Customers
The Chase Total Checking® account is one of the most versatile Chase checking accounts. New Chase customers enjoy a $225 bonus when you open a Chase Total Checking® account and set up direct deposit.
There is a $12 monthly fee, which can be waived by doing one of the following:
- Electronic deposits made into this account totaling $500 or more, such as payments from payroll providers or government benefit providers, by using (i) the ACH network, (ii) the Real Time Payment network, or (iii) third party services that facilitate payments to your debit card using the Visa® or Mastercard® network, OR
- a balance at the beginning of each day of $1,500 or more in this account, OR
- an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings and other balances.
More details about the Chase Total Checking® account:
- New Chase checking customers enjoy a $225 bonus when you open a Chase Total Checking® account and set up direct deposit
- Access to 16,000 Chase ATMs and more than 4,700 branches
- Chase Mobile® app – Manage your accounts, deposit checks, transfer money and more — all from your device.
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
- Overdraft Services – no fee if you’re overdrawn by $50 or less at the end of the business day*
- *We charge a $34 Insufficient Funds Fee per item during our nightly processing beginning with the first item that overdraws your account balance by more than $50 (maximum of 3 fees per business day, up to $102).
Chase Secure Banking – $100 Bonus for New Customers
The Chase Secure Banking checking account is a basic, no-frills checking account. There are no paper checks, no overdraft fees and no minimum balance to open. New Chase checking customers enjoy $100 when you open a Chase Secure BankingSM account with qualifying activities.
The Chase Secure Banking account features a $4.95 monthly fee. Unlike some of the other checking accounts, there is no method for waiving the monthly fees on this account, making the other checking accounts, such as the Chase Total Checking account, a better option as long as you meet the criteria to waive the monthly fees.
On the plus side, the Chase Secure Banking account helps customers avoid most fees on everyday transactions. There are no overdraft fees, no fees for cashing checks or paying bills online with Chase Online Bill Pay, no fees on money orders or cashier’s checks, and no fees for sending money using Zelle.
More details about the Chase Secure Banking checking account:
- New Chase checking customers enjoy $100 when you open a Chase Secure BankingSM account with qualifying activities.
- No minimum deposit to open, no fees for Chase OnlineSM Bill Pay, money orders, cashier’s checks or to send money
- No paper checks to track
- Just a simple $4.95 monthly service fee
- Use the Chase debit card to help you spend only your available money, without worrying about overdraft fees.
- Bank with the Chase Mobile® app and Chase OnlineSM
- Get helpful account alerts so you can monitor your balance and more.
- No need to worry about unauthorized card transactions when reported promptly with Zero Liability Protection.
Open a Chase Secure Banking account at the Chase Website
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 SavingsSM
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
Visit the Chase website to open a Chase SavingsSM 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, Premier Savings has a monthly fee. 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 CDs
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 4,700+ 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 offers several different sign-up bonuses for opening a new Chase Checking account. The bonuses vary depending on which account you open.
Chase SavingsSM — $150 Sign Up Bonus
- You can earn a $150 bonus when you open a new Chase SavingsSM account and meet the minimum deposit and balance requirements.
- Learn more about the Chase SavingsSM Bonus on the Chase Bank website.
Chase Bank Pros & Cons
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 over 4,700 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.
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.
Conclusion
Overall, Chase Bank meets most banking needs. I have been a Chase Bank customer for several years 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.
Alternatively, 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 emergency fund. This will give you the best of both worlds.
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