Updated October 14, 2023

Chase Bank Problems and Solutions

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Chase Bank may be a major player in the industry, but it surely isn't perfect. Many are frustrated with their low APY, for one.

What is it really like to bank with Chase?

Even with its large network of branches and ATMs, and top-notch online banking, customers might still find problems.

Read about what many consider their shortcomings and how you can get around them.

Savings APY Is Almost Non-Existent

One of the most common complaints of Chase customers is the bank's low APY on their savings accounts. Even if you are their Premier client or have a substantial amount in your account, the difference in rates is barely noticeable.

Potential solutions:
If getting high APY is your primary goal, online banks would have better options like high-yield savings accounts.

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Overdraft Fee Is Too High

Overdraft fees are charged when the bank covers your transaction amount, allowing it to go through despite not having enough funds in your account.

Chase Bank charges $34 a pop, with a maximum of 3 overdraft fees per day. This adds up and can be a major pain point for most.[1]

Potential solutions:
Chase offers overdraft protection for most of its checking accounts.

  • If you link a Chase savings account, Chase will automatically transfer money from your savings to cover any overdrafts. This service is free.

  • The Chase Total Checking account comes with Overdraft AssistSM. You won't be charged for overdrafts worth $50 or less by the end of a business day, or if you fund your account to be under $50 overdraft by the next business day.

You can opt for account alerts as well. These remind you of a low account balance or an overdraft so you can take action before any charges occur.

You may also consider Chase Secure Banking with no overdraft fees. It will simply decline or return the transaction if you have insufficient funds.

Still, it's best to keep your account funded to avoid overdrafts as much as possible. Try to limit overdrawing for emergencies only.

Minimum Balance To Skip Monthly Fees

Chase Total Checking account has a monthly fee of $12, which can be waived. One of the ways you can do so is by maintaining a $1,500 balance at the beginning of each day.

If you think about it, it's quite steep, considering that it won't earn any interest in the account.

Potential solutions:
You can use alternative ways to waive your Total Checking monthly fees, such as by having recurring direct deposits of at least $500.

Or if you can't meet the requirements for Total Checking, you might want to switch to Chase Secure Banking. It has a lower monthly fee of $4.95 and has zero overdraft charge.

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No Out-Of-Network Atm Fee Reimbursements

Chase has over 15,000 domestic ATMs you can use for free, which is pretty decent enough.

But unless you are a Premier or Private client, they don't provide rebates for out-of-network ATM fees. It can cost you $3 to withdraw from non-Chase ATMs locally, and more if outside the US.[2]

Potential solutions:
Try to use your Chase debit card instead to pay for purchases as long as it is within your daily spending limit.

You could also stick to Chase ATMs when withdrawing cash or making inquiries. Reserve the out-of-network ATM option for emergencies and no Chase ATM is available.

If you are making payments to an individual, you can issue that person a check or send them a Zelle transfer at no extra cost.

Holds Your Check Hostage For Too Long

Although Chase and other banks generally clear checks within 2 business days, delays can still happen. Some customers claim that Chase held their check for 10 days.[3]

It can be frustrating and inconvenient, specifically if you urgently need the money.

Potential solutions:
Be mindful of when you deposit checks. Doing it on a business day before Chase's cutoff time (typically at 11 p.m. ET[4]) might process your check faster.[5]

Use other payment methods, if possible, like electronic transfers to get quicker access to your funds.

It also might help to maintain an emergency fund in your savings account to cover expenses while waiting for checks to clear.

Low Mobile Check Deposit Limits

If you are a freelancer who gets paid in checks, note that Chase's mobile check deposit feature might not accommodate a lot.

Typically, it has a limit of $2,000 a day or $5,000 a month, which may not be enough for some individuals, particularly if your check amounts are above the limits.[6]

Potential solutions:
If you've hit the limit of your Chase mobile check deposit, you can deposit other checks via a Chase ATM or the branch teller. Unfortunately, it may not be as convenient as doing it online.

You can also request your payors to send an ACH transfer instead of checks, as there are typically no limits on incoming transfers.

Bottom Line

Chase has always been considered one of the top national banks with its accessibility both online and offline. But it may not be the perfect bank for you.

Although Chase presents its own problems, there can be other means to tackle them to lessen their impact. Knowing these issues exist can help you decide to bank with them or otherwise.


  1. ^ Chase. Chase Overdraft Services, Retrieved 9/26/2023
  2. ^ Chase. ATM Fees, Retrieved 10/10/23
  3. ^ Reddit. What's up with these ridiculous 10 day hold times for checks?, Retrieved 10/14/23
  4. ^ Chase. When is a deposit finalized?, Retrieved 10/10/23
  5. ^ Chase. How long does it take for a check to clear?, Retrieved 10/10/23
  6. ^ Chase. Chase and J.P. Morgan QuickDeposit Agreement for Mobile, Retrieved 9/26/2023
Member FDIC

Chase Total Checking® - $200 Bonus

Expires 1/24/2024
  • New Chase checking customers enjoy a $200 bonus when you open a Chase Total Checking® account with qualifying activities
  • Access to more than 15,000 Chase ATMs and more than 4,700 branches
  • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
  • JPMorgan Chase Bank, N.A. Member FDIC
  • Open your account online now
  • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
  • Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Bank of America
Member FDIC

Bank of America Business Advantage Checking Account - $200 Bonus Offer

Expires 6/30/2024
Earn a cash bonus in three steps:
  1. Open a new eligible business checking account by June 30, 2024
  2. Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
  3. Maintain an average balance of $5,000 for the next 60 days (day 31-90) during the maintenance period**
*Qualifying Deposits are deposits of new money, which is money not currently or previously held in any account at Bank of America or Merrill
**The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
Member FDIC

Citi Priority - Earn up to $2,000 Cash Bonus

Expires 1/9/2024
  • Earn up to $2,000 when you open a new eligible Citi checking account and enroll in the offer the same day
  • New to Relationship customers can choose their Relationship Tier.
  • Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds.
  • Maintain a minimum balance for 60 consecutive calendar days from the 21st day.
  • If your balance falls to a lower Balance Level at any point during the maintenance period, the bonus changes.
  • Bonus will be paid within 30 days after you successfully complete all required activities.
  • Restrictions apply.
TD Bank
Member FDIC

TD Beyond Checking - $300 Cash Bonus

  • New customers who apply online for a TD Beyond Checking account can earn a $300 cash bonus after receiving direct deposits of $2,500 or more within 60 days. To qualify for this offer, you must be a U.S. resident and apply for the offer online. Offer is available in these states: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA
  • Three ways to go monthly maintenance fee-free: Monthly Maintenance fee waived when you set up direct deposits of $5,000 or more within a statement cycle, maintain a $2,500 minimum daily balance, or have a $25,000 combined balance across eligible TD accounts.
  • ATM perks: TD fees waived at any ATM and non-TD fees reimbursed when you keep at least a $2,500 daily balance
  • A little extra time. A lot of extra relief: Avoid fees with Grace Period, which gives you until 11 PM ET the next business day to fix an overdraft. Make sure your available balance is at least $0 by depositing enough to cover the overdrawn balance plus any additional transactions and TD will refund the overdraft fee to your checking account.
  • Fast and secure payments: TD Bank debit cards are backed by the Zero Liability guarantee and 24/7 fraud monitoring
  • Convenient locations with the longest hours around: We have over 1,100 locations from Maine to Florida that's open early, late, and weekends.
  • Get reimbursed for fees including two overdraft fees per year, all Rush Bill Payments, and one outgoing wire per statement cycle (domestic or international).
  • Additional TD Bank checking account perks worth talking about: Get 24/7 access to all your TD accounts with Online & Mobile Banking, plus Bill Pay, Send
  • Money with Zelle®, Mobile Deposit and Online Statements.
Discover Bank
Member FDIC

Discover Online Savings - $200 Cash Bonus

Expires 12/14/2023

To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code CY923 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 12/14/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

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Note: This website 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. You do not have to use our links, but you help support CreditDonkey if you do.

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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.

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