Updated August 1, 2019

Chase Sapphire Banking Review

Read more about Chase
This article contains references to products from our partners. We may receive compensation if you apply or shop through links in our content. You help support CreditDonkey by reading our website and using our links. (read more)

What is Chase Sapphire banking? We explain the benefits, interest rate and how to qualify for the bonus in our review.

Top Promotion for September 2019

Chase's Sapphire Banking has replaced its Premier Platinum checking account. Keep reading to see what the new Chase Sapphire Banking checking account offers.

Benefits

Here's what Chase Sapphire Banking offers:

Bonus
Here's how to claim the bonus:

  1. Open a Chase Sapphire Banking Account.

  2. Transfer $75,000 of qualifying new money to any combination of eligible accounts within 45 days.

  3. Maintain a $75,000 balance for at least 90 days from the date of funding (gains, losses, or market fluctuations will not be considered when determining your balance).

  4. Bonus is credited to your account within 45 days after balance has been maintained.

No ATM Fees Worldwide
Chase won't charge you for using their ATMs and you'll be automatically refunded for ATM fees charged elsewhere.

No Foreign Transaction Fees
You won't rack up fees when using your Sapphire Banking debit card abroad.

Check out some great travel rewards credit card options before your next overseas trip.

No Insufficient Funds or Returned Items Fees
You won't be charged for insufficient or returned funds (up to four times in a 12-month period).

No Wire Transfer Fees
Chase will cover the costs associated with incoming and outgoing wire transfers when you use their Sapphire Banking.

Commission-Free Online Stock and ETF Trades
Chase Sapphire Banking qualifies you for the Premier Pricing tier on J.P. Morgan's new You Invest platform. You'll receive unlimited commission-free online stock and ETF trades (other regulatory transaction fees may apply).

You Invest is a low-cost, app-based investment tool built into Chase's online and mobile banking platforms. It allows you to manage your investments by researching and trading stocks, bonds, mutual funds, and ETFs online.

Why We Like Sapphire Banking

Here are several reasons to sign up for Chase Sapphire Banking:

Premier Relationship Rates
Chase Sapphire Banking can boost your interest rates on linked savings accounts. To qualify, you must make at least 5 customer-initiated transactions during a monthly statement period using your linked checking account.

Entertainment Benefits
You'll have special access to sports and entertainment hospitality lounges. You can also take advantage of early ticket sales and special seating at sporting or other entertainment events.

Higher Withdrawal Limits and Purchase Limits
Your Sapphire Banking Debit Card will have a higher daily withdrawal limit at ATMs. Plus, the daily purchase limits are higher.

24/7 Customer Service: As a Chase Sapphire Banking customer, you get a 24/7 dedicated banking service line at 1-888-26CHASE.

Reasons to Look Elsewhere

Steep Bonus Requirements
It's not always sensible to move $75,000 into a new bank, even if you have the funds available. You could give up better interest rates or incur fees for closing certain accounts.

High Minimum Balance Requirement
If you let your combined linked account balance (on qualified accounts) drop below $75,000, you'll pay a monthly maintenance fee of $25.

Low APY
You can find a checking account with a higher yield than Chase.

How to Waive Monthly Service Fee

The Sapphire Banking accounts has a $25 monthly service fee. The charge is waived if you maintain an average beginning day balance of $75,000 across a combination of qualifying deposit and investment accounts.

Qualifying accounts can include up to 9 personal accounts, including:

Chase Private Client checking and savings accounts, Chase money purchase pension, and profit-sharing plans are not considered qualifying accounts. New money cannot be funded by accounts at J.P. Morgan or its affiliates.

Is Chase Sapphire Worth It?

While Chase Sapphire Banking has several great perks, keeping a large sum of money in a low-interest account usually isn't a great idea.

But the entire $75,000 doesn't have to be housed in the checking account in order to qualify for Chase's Sapphire Banking. You can spread that cash around to qualifying accounts which will earn a higher interest rate than the checking account.

If you can make use of those products, and they have competitive earnings, then you can benefit from what Chase Sapphire Banking has to offer.

Chase Sapphire Banking vs Private Client

Chase Private Client (CPC) is the elite banking tier for those with $250,000 on deposit with Chase. You get personalized service including:

  • a private banker
  • a private investment advisor
  • dedicated loan advisors
  • discounted rates for home and auto loans
  • business banking guidance

CPC is for very high net worth individuals who want an all-inclusive banking and investment experience. You won't get this level of personalized service with Sapphire Checking, but the minimum balance requirement is also a lot lower.

If you do have $250,000 to deposit, read our in-depth review to see if Chase Private Client is worth it.

How to Open an Account

The application process is different based on whether you already have a Chase checking account or are completely new to Chase.

Exisiting Chase Customers:

  • You'll enter your email address to receive an upgrade code.

  • Bring that upgrade code to a branch in order to be upgraded.

Existing Chase checking customers must visit a local branch in order to upgrade their checking. If this isn't feasible for you, it might be worth calling Chase to see what arrangements can be made for you.

New Chase Checking Customers:

  • You can open an account online.

  • Answer general personal questions like date of birth, Social Security number, address, etc.

  • Or, visit a local branch to have a banker assist you with opening your new account.

How Chase Sapphire Banking Compares

© CreditDonkey

Read on to learn some of the other checking options available right now.

Chase

    Chase Total Checking® + Chase Savings℠

    • Enjoy up to $350 when you open a new Chase Total Checking® account with Direct Deposit and/or open a new Chase Savings℠ account, deposit $10,000 or more in new money and maintain a $10,000 balance for 90 days
    • Enjoy a $200 bonus when you open a new Chase Total Checking® account and set up direct deposit
    • Enjoy a $150 bonus when you open a new Chase Savings℠ account, deposit a total of $10,000 or more in new money within 20 days, and maintain a $10,000 balance for 90 days
    • Access to 16,000 Chase ATMs and nearly 5,000 branches
    • Apply online in minutes. Open your account online now.
    • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
    • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.

    Chase Premier Plus Checking℠

    • Enjoy $300 as a new Chase checking customer, when you open a Chase Premier Plus Checking℠ account and set up direct deposit.
    • Enjoy $300, more benefits, and earn interest on your new Chase checking account.
    • The $25 Monthly Service Fee is waived when you keep an average beginning day balance of $15,000 or more in any combination of this account and linked qualifying Chase checking, savings and other balances.
    • No Chase fee on first four non-Chase ATM transactions per statement period.
    • Earn interest on your checking account balance.
    • Access to 16,000 Chase ATMs and nearly 5,000 branches
    • Apply online in minutes. Open your account online now.
    • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.

    Chase Total Checking®

    • Enjoy a $200 bonus when you open a new Chase Total Checking® account and set up direct deposit
    • Access to 16,000 Chase ATMs and nearly 5,000 branches
    • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
    • Apply online in minutes
    • Open your account online now
    • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.

    Chase College Checking℠

    • Get $100 as a new Chase checking customer when you open a Chase College Checking℠ account, enroll in paperless statements and complete 10 qualifying transactions within 60 days of account opening.
    • Access to 16,000 Chase ATMs and nearly 5,000 branches
    • No Monthly Service Fee for up to 5 years if you're a student between the ages of 17-24.
    • Deposit checks from virtually anywhere, anytime, just by taking a photo with the Chase Mobile® app.
    • Send and receive money in moments using Chase QuickPay® with Zelle®

    Chase Total Business Checking®

    • Get $200 as a new Chase business checking client, when you open a Chase Total Business Checking® account with qualifying activities
    • Access to 16,000 ATMs and nearly 5,000 Chase branches
    • Chase has business specialists at your local branch to help with your business needs
    • Account Alerts are a great way to stay on top of your account's activity and enhance security
    • Unlimited electronic deposits at no charge, including Chase QuickDeposit℠, ACH and ATM

Bank of America

    Advantage Plus Banking Checking Account - $100 Bonus

    Open a new Bank of America Advantage Plus Banking checking account by December 31, 2019. Account must be opened online using the link on the offer page. Minimum opening deposit is $100. Set up and receive at least 2 qualifying deposits of $250 or more each to your new checking account within 90 days of account opening. The $100 cash bonus will be deposited into your account within 60 days of completing all requirements.

    Expires 12/31/2019

    Advantage Relationship Banking Checking Account - $100 Bonus

    Open a new Bank of America Advantage Relationship Banking checking account by December 31, 2019. Account must be opened online using the link on the offer page. Minimum opening deposit is $100. Set up and receive at least 2 qualifying direct deposits of $250 or more each to your new checking account within 90 days of account opening. The $100 cash bonus will be deposited into your account within 60 days of completing all requirements.

    Expires 12/31/2019

    Advantage SafeBalance Banking Checking Account - $100 Bonus

    Open a new Bank of America Advantage SafeBalance Banking checking account by December 31, 2019. Account must be opened online using the link on the offer page. Minimum opening deposit is $25. Set up and receive at least 2 qualifying direct deposits of $250 or more each to your new checking account within 90 days of account opening. The $100 cash bonus will be deposited into your new account within 60 days of completing all requirements.

    Expires 12/31/2019

Wells Fargo

    Checking and Savings Account - $650 Bonus

    Get $400 when you open a new eligible Wells Fargo checking account with a minimum opening deposit of $25. Use offer code when opening account. Within 150 days of account opening, you must have a total of at least $3,000 each month in qualifying direct deposits for three consecutive months. Get $250 when you open a new eligible Wells Fargo savings account in branch with a minimum opening deposit of $25. Use offer code when opening account. Deposit at least $15,000 in new money within 10 days of account opening. Maintain a minimum daily balance of at least $15,000 for 90 days from account opening. Bonus will be deposited to your new accounts within 45 days after meeting all offer requirements.

    Expires 12/31/2019

    Consumer Checking Account - $400 Bonus

    Open a new qualifying Consumer Checking account with a minimum opening deposit of $25. Within 150 days of account opening, receive a cumulative monthly total of $3,000 in qualifying direct deposits into your new account for 3 consecutive months. Your $400 bonus will be deposited to your account within 45 days after completing requirements.

    Expires 12/31/2019

    Consumer Checking Account - $400 Bonus

    Open an Everyday Checking account online or bring a bonus offer code to a participating Wells Fargo branch and open an eligible consumer checking account. Minimum deposit of $25. To qualify for the bonus, within 150 days of account opening, receive a cumulative monthly total of $3,000 or more in qualifying direct deposits each month to the checking account opened for this bonus offer for three consecutive months.

    Expires 12/31/2019

Citibank

    Citi Account Package - $400 Bonus

    Open a new checking and savings account in the Citibank Account Package.

    Within 30 days of opening your account deposit $15,000 New-to-Citibank funds into the checking and/or savings account.

    Maintain a minimum balance of $15,000 in your eligible linked checking and/or savings account for 60 days.

    Expires in 6 days

    Citi Account Package - $500 Bonus

    Eligible customers must enroll in the "$400/$500 Checking and Savings Offer" promotion. Open a new qualifying Checking AND Savings Accounts. To get the $500 bonus, customer must make a deposit of $15,000 (multiple deposits allowed) within 30 days of account opening. Account must maintain a minimum balance of $15,000 for 60 consecutive calendar days following the date the $15,000 deposit was made. Complete one qualifying direct deposit into the eligible Checking Account each month for two consecutive months within 60 days of account opening.

    Expires in 6 days

    Citi Account Package - $600 Bonus

    Open a new checking and savings account in the Citibank Account Package.

    Within 30 days of opening your account deposit $50,000 New-to-Citibank funds into the checking and/or savings account.

    Maintain a minimum balance of $50,000 in your eligible linked checking and/or savings account for 60 days.

    Expires in 6 days

Bottom Line

A generous bonus offer and free investing options make Chase Sapphire Banking the right choice for certain customers. But you'll need $75,000 in eligible accounts to avoid the monthly service fees. Weigh the financial pros and cons to see if Sapphire Banking could be right for you.

Disclaimer: Opinions expressed here are author's alone. Please support CreditDonkey on our mission to help you make savvy decisions. Our free online service is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content.

Disclaimer: This content was first published on July 3, 2019. This content may have been updated on August 1, 2019. Information including rates, fees, terms and benefits may vary, be out of date, or not applicable to you. Information is provided without warranty. Please check the bank's website for updated information.

More from CreditDonkey:


Chase Bank Review


Chase Sapphire Reserve Review


Chase Sapphire Preferred Review

More Articles in Reviews


September
22
2019

Allianz Travel Insurance

What is covered by Allianz travel insurance? A lot. Keep reading to learn if this company is good for you.

    Top 5 Best Online Checking Accounts

    The best online checking accounts are free, have minimum fees, and even offer interest. Find the best high interest online checking accounts to consider.

    23 Ways to Build Wealth in Your 20s

    Get in the habit of spending and saving wisely in your 20s and you'll be on solid footing when you're older. Use our tips for how you can build wealth, starting now. You can thank us later.

    How to Get Rid of Student Loans

    You can get rid of student loans faster with forgiveness programs, refinancing, and smart savings. Read on to learn more about your options.

    10 Smart Ways to Save $1,000 a Month

    Many Americans prefer to save money rather than spend it. Of course, saying and doing are two different things. Learn 10 smart ways to save $1,000 a month here.

    How Much Should I Save?

    How much of my income should I save? Depends if it's for retirement, a house, college, a car or other goals. Find out how the 50/20/30 rule can help you.

    23 Really Creative Ways to Save Money

    You know you need to save money more but struggle to do it. You need some fresh ideas - 23 creative ways to get yourself to sock away more dough.

    How to Make a Budget

    A budget will help you track your finances and reach your goals sooner. Here is a step-by-step on how to make a budget that works.

    How Much Money Do You Need to Buy a House?

    Besides the down payment, there are many other fees that you may not have considered. Prepare yourself for all the costs of purchasing a home.

    How to Save for a House

    Saving for a house down payment takes patience and discipline. Read on for smart tips on how to save enough money to buy a house and some mistakes to skip.

    How to Invest and Make Your Money Work for You

    So, you want to invest some of your money, but you have no idea how to start? No problem. This handy 10-step guide is loaded with useful resources to help you get started.

    How to Start Investing

    Thinking about investing but unsure where to start? Read this beginner's guide for 7 smart steps to help you grow your money.

    How to Invest in Stocks with Little Money

    Think you don't have enough money to invest? You can start with as little as $5. Read our top ways to invest a little money and start earning now.

    Best Bank for Small Business

    The right bank account can make or break your business. Narrow down your options and find the best fit with our guide.
    Shopping in Market! Market!

    23 Things Money-Smart College Students Do

    People go to college to learn new things and prepare themselves for a career. What they have trouble finding – if they bother looking at all – are the ground rules of personal finance. Those who figure out how to take control of their cash are better off once graduation rolls around and those student loans come due.

    Free Business Checking

    The last thing your business needs is another expense. Find out which free business checking account is the best for you.

    Average Net Worth by Age

    The average American has a net worth of $80,000. Is that enough for retirement? Read on for answers to this and other pressing questions about net worth.

    How to Withdraw Money from Bank

    Debit and ATM cards are the best and simplest way to withdraw money from your account whenever you need it. But even without one, you should still be able to access your funds. Keep reading to find out how.

    How to Transfer Money from One Bank to Another

    Looking to transfer funds between banks? You've got several ways to move your money. But fees and speed may vary. Keep reading to learn more.

    Study: Average Cost of a Vacation

    The average vacation costs $1,145 per person (or $4,580 for a family of 4). Here's what to expect to pay for airfare, hotels, food, and activities.

    How to Choose a Bank

    The right bank for you depends on your needs. Do you want easy access, low fees, or good interest rates? Here's how to choose the best bank for you.
More Articles in Reviews








About CreditDonkey®
CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the card offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.