Serving in the military often means frequently relocating to a new duty station. In my six years on active duty, I spent extensive time on 5 bases and traveled to dozens of other bases across the US and throughout the world. This frequent travel makes it important to have excellent banking options. That is why we have a list of the top banks for the military community. One of those top banks happens to be Chase Bank.
Chase offers a banking option specifically for military members and supports the military and veteran community. Chase co-founded the Veteran Jobs Mission in 2011. This coalition of more than 235 companies has committed to hiring one million veterans. Chase has hired more than 11,000 veterans since the inception of this program. You can learn more here.
On top of having an excellent suite of financial products (including banking, credit card products, mortgages, and investment services), Chase Bank features a network of over 16,000 ATMs and nearly 4,900 physical branches. Their large network makes it easy to find a location near you, even if you happen to PCS to a new location. Having continuity with your local banking needs makes your PCS move go much more smoothly!
Chase Bank Features – Everything You Need from Your Bank
I have been a happy Chase customer for several years. I have a personal checking and savings account and I have both personal and business credit cards with Chase. In my opinion, Chase has some of the best credit card offers around.
That said, I do have two banks – one with Chase Bank, and an online bank where I keep my emergency fund. I use Chase Bank because I find it helpful to have a bank where I can visit a physical branch when I need to deposit a check, make a large cash withdrawal, or for other in-person needs.
Chase Bank has a variety of features including:
- Personal Checking and Savings Accounts
- Business Checking and Savings Accounts
- An excellent variety of credit cards (both personal and business)
- Chase Debit Card
- Online Banking and Online Bill Pay
- Chase Mobile® Banking, including Mobile Deposits (remote check deposit)
- Account Alerts
- Access to over 16,000 Chase ATMs and nearly 4,900 branches
Chase also offers mortgages, loans, Certificates of Deposit, and investment services. They offer enough different financial services to cover just about all your financial needs in one place.
I’ll leave it to you to dive into their suite of financial products and services. There are many, and it’s worth seeing if their services are a match for your needs.
Chase Checking Account Sign up Bonuses
Now might be a good time to open a new Chase Checking or Savings Account if you are looking for a new bank. Chase is currently offering a few signup bonuses that can give you access to a solid banking product, and net you several hundred dollars.
I’ll give a quick overview of these bonus offers and I’ll also recommend reading the fine print. Most bank sign up bonuses require customers to set up direct deposit or maintain a certain balance to avoid monthly fees. So the largest bonus may not be the best option if it incurs monthly fees.
There are two different offers, one each for the Chase Premier Plus CheckingSM and the Chase Total Checking® accounts.
These offers are available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
Here are the account and bonus details:
Chase Premier Plus Checking – $300 Bonus (Best for Military)
Best Offer – Monthly Fees Waived for Military & Veterans: The Chase Premier Plus Checking account offers one of the largest individual sign up bonuses around. And this is an especially great deal for military members and veterans.
Eligible military members and veterans who open a Chase Premier Plus Checking account with Chase Military Banking benefits do not have a minimum balance requirement and there is no monthly service fee.
Other Chase Military Banking features include:
- No $25 Monthly Service Fee
- No annual rent for 3″ x 5″ Safe Deposit Box or smaller (subject to availability, 20% discount on larger sizes)
- No Chase fee on the first four non-Chase ATM transactions each statement period. Fees from the ATM owner still apply. A Foreign Exchange Rate Adjustment Fee from Chase may apply for ATM withdrawals in a currency other than U.S. dollars.
- No fee for Counter Checks, Money Orders and Cashier’s Checks
Military ID or proof of service is required to qualify for the Chase Military Banking features.
New customers with no military service history would have a $25 monthly fee unless they maintain an average daily balance of $15,000 or more, OR they set up automatic payments linked to a qualifying linked Chase first mortgage.
Chase Total Checking – $200 Bonus
How to earn the bonus: The Chase Total Checking bonus is the most approachable offer for most customers. New customers only need to open an account and set up direct deposit to qualify.
There is a $12 monthly fee which is waived for
- Customers who have direct deposits of at least $500 per month, OR
- maintain an average daily balance of $1,500, OR
- have an average daily balance of $5,000 or more in any combination of qualifying Chase checking, savings, and other balances.
Overall, this is a very solid account with relatively easy to reach minimums to avoid paying the monthly fee.
Chase Savings – Account Details
Chase Savings offers:
- Access to 16,000 Chase ATMs and nearly 4,900 branches
- Link this account to your Chase checking account for Overdraft Protection.
- 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.
Afterward, the $5 monthly fee is waived when
- Customers keep at least a minimum average daily balance of $300, OR
- have at least one repeating automatic transfer of at least $25 from your personal Chase checking account (available only through Chase OnlineSM Banking),
- OR, you have a linked Chase Premier Plus Checking, Chase Premier Platinum Checking, or Chase Private Client CheckingSM account.
Read the Fine Print Before Applying for Sign Up Bonuses
It’s important to read the fine print when you are opening a new account for a sign up bonus. Most of these offers have requirements to earn the bonus offer. In general, you may be required to make a minimum initial deposit, maintain a minimum balance for a set period, set up direct deposit, or keep the account open for a certain amount of time. These types of offers generally aren’t open to current customers or people who have earned a similar bonus within a certain time frame.
Bonuses are also reported to the IRS as interest earnings and are taxable at your normal income tax rate. You should receive an IRS Form 1099-INT at the end of the tax year.
How long does it take to receive the bonus? I signed up for a Chase account a few years ago and received a bonus. It took about 10 days to show up in my account. Your situation may be different, so be sure to contact the Chase customer service department if you have specific questions.