Chase Bank Review

Chase has new customer bonuses and a strong nationwide presence. But there are drawbacks. Read this review to see if Chase is a good bank for you.

	Chase Total Checking® - $200 Bonus Open an Account
	Overall Score	4.1
	Savings	3.5
	Checking	4.0
	Customer Service	4.0
	Mobile App	5.0

5-point scale (the higher, the better)

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Pros and Cons

• More than 4,700 branches
• New customer coupons
• Full service banking

• Low interest rates
• Not in all states

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Bottom Line

National bank with good promotions for new customers

• Pros & Cons of Chase Bank
  
• Who Chase Is Best For
  
• Chase Bank Promotions
  
• Checking Accounts
  
• Savings Accounts
  
• How to Waive Account Service Fees
  
• Is Chase Bank Good?
  
• Account Features
  
• How to Open an Account
  
• Other Services
  
• Other Bonuses and Offerings
  
• How Chase Compares

Chase is one of the biggest banks in the US. It offers everything from banking to investments to loans, and of course, a popular lineup of credit cards.

Chase has more checking options than many other competitors. Account opening requirements are generally low and it's relatively easy to waive the service fee on the basic accounts. But typical of big banks, interest rates are low for savings products.

Read on for the full review of Chase Bank.

Chase Bank Pros & Cons

First, let's take a quick look at the pros and cons of banking with Chase.

Pros

• More than 16,000 Chase ATMs and more than 4,700 physical branches
  
• Chase coupon and bonuses for new customers
  
• Low opening requirements
  
• Easy to waive service fees on basic accounts
  
• Many checking options for all financial situations
  
• Online and mobile banking from anywhere
  
• Free online bill pay, mobile deposits, and text banking
  
• 24/7 customer service with real reps
  
• Highly rated mobile app
  
• FDIC insured up to $250,000
  
• Full service bank with checking, savings, credit cards, loans, and investing

Cons

• Low interest rates on savings products
  
• Not located in all states
  
• Requirements to waive monthly service fee
  
• High out-of-network ATM fees
  
• Many banking fees
  
• No retirement accounts

Now, we'll take a more in-depth look at each account, fees, and features.

Who Chase Is Best For

• If you like to have all your financial activities under one bank.

• If you need in-person banking services and want access to branches and ATMs.

• If you have regular direct deposits or usually leave a balance in your account.

• If you're interested in or are already using Chase credit cards.

New Customer Promotions

Member FDIC

Chase Total Checking® - $200 Bonus

• New Chase checking customers enjoy a $200 bonus when you open a Chase Total Checking^® account and set up direct deposit
• Access to more than 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.
• Chase Overdraft Assist℠ - no overdraft fee 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*

*With Chase Overdraft Assist℠, we won't charge an Insufficient Funds Fee 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 you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.

Open an Account

Expires 1/25/2023

Member FDIC

Chase Secure Banking℠ - $100 Bonus

• New Chase checking customers enjoy $100 when you open a Chase Secure Banking℠ account with qualifying transactions.
• No minimum deposit to open an account and get started.
• No paper checks to track and no Chase fees on money orders or cashier's checks.
• Pay bills, cash checks and send money with Zelle^® all for a $4.95 monthly service fee.
• No overdraft fees with a Chase debit card that helps you stay within your balance.
• Bank from anywhere with access to more than 16,000 Chase ATMs, more than 4,700 Chase branches, the Chase Mobile^® app and Chase Online℠.
• Get more for your money. Chase Secure Banking℠ customers told us they save an average of $50 a month on fees after opening their account.
• Open an account online or in person at any Chase branch.

Get $100 Coupon

Expires 1/25/2023

Member FDIC

Chase Private Client - $2,000 Bonus

• You're eligible for a $2,000 bonus when you open a new Chase Private Client Checking account with qualifying activities.
• Within 45 days of coupon enrollment, transfer a total of $250,000 or more in new money or securities to a combination of eligible checking, savings and/or investment accounts and maintain the balance for at least 90 days from coupon enrollment.
• Get $2,000 when you open a new Chase Private Client Checking account with qualifying activities. Enjoy your $2,000 bonus which will be deposited into your account within 40 days.
• Speak with a Private Client Banker to open your Chase Private Client Checking account today. Schedule your meeting at your nearest branch or over the phone.
• No ATM fees worldwide.
• No Chase fee on incoming or outgoing wire transfers; can be completed online or over the phone.
• Experience a financial relationship that brings you more.
• Save time and money with better banking benefits and special services.

Get Upgrade Code

Expires 1/25/2023

Member FDIC

Chase College Checking℠ - $100 Bonus

• Enjoy $100 as a new Chase checking customer when you open a Chase College Checking℠ account and complete 10 qualifying transactions within 60 days of coupon enrollment.
• Access to more than 16,000 Chase ATMs and more than 4,700 branches
• No Monthly Service Fee for up to 5 years if you're a student between the ages of 17-24 at account opening with proof of student status.
• Manage your money, see your accounts, and pay your bills using the Chase Mobile^® app
• Send and receive money in moments using Zelle^®
• Students ages 18-24 can open an account online or at a Chase branch. 17-year-olds must open at a Chase branch.
• Start planning for your future by using the budget tool in the Chase Mobile^® app to set, track, and adjust your spending to help you save more.
• Chase Overdraft Assist℠ - no overdraft fee 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*

*With Chase Overdraft Assist℠, we won't charge an Insufficient Funds Fee 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 you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.

Get $100 Coupon

Expires 1/25/2023

Chase has a wide range of checking accounts, including options for students, low income, and high net worth individuals.

Chase Total Checking^®

Chase Total Checking^® is Chase's most popular checking account. There is no minimum to open.

It's a very bare bones account without any perks. But it's pretty easy to waive the $12 service fee with direct deposits of at least $500 each month.

Features include:

• Access to more than 16,000 ATMs
  
• Free bill pay service
  
• Mobile check deposits by simply snapping a picture
  
• Send and receive money with Zelle^®
  
• Free Visa debit card with chip
  
• Account alerts via text, email, or push notifications when there is a charge, refund, or transaction

Member FDIC

Chase Total Checking® - $200 Bonus

• New Chase checking customers enjoy a $200 bonus when you open a Chase Total Checking^® account and set up direct deposit
• Access to more than 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.
• Chase Overdraft Assist℠ - no overdraft fee 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*

*With Chase Overdraft Assist℠, we won't charge an Insufficient Funds Fee 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 you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.

Click Here to Open an Account

Expires 1/25/2023

Chase Secure Banking^SM

The Chase Secure Banking^SM account is a basic checking account with no overdraft fees. You can use your debit card to spend only what you have available.

It could be a good fit for individuals who've made some past banking mistakes and have trouble opening a traditional checking account. The Secure Banking account helps you bank more responsibly since you can't overdraw your account.

There is a $4.95 monthly fee. In exchange, there are no fees for overdrafts, check deposits, online bill pay, Zelle^®, money orders, and cashier's checks.^[1]

Member FDIC

Chase Secure Banking℠ - $100 Bonus

• New Chase checking customers enjoy $100 when you open a Chase Secure Banking℠ account with qualifying transactions.
• No minimum deposit to open an account and get started.
• No paper checks to track and no Chase fees on money orders or cashier's checks.
• Pay bills, cash checks and send money with Zelle^® all for a $4.95 monthly service fee.
• No overdraft fees with a Chase debit card that helps you stay within your balance.
• Bank from anywhere with access to more than 16,000 Chase ATMs, more than 4,700 Chase branches, the Chase Mobile^® app and Chase Online℠.
• Get more for your money. Chase Secure Banking℠ customers told us they save an average of $50 a month on fees after opening their account.
• Open an account online or in person at any Chase branch.

Click Here to Get $100 Coupon

Expires 1/25/2023

Chase College Checking ($0 to open)

Chase has a Chase College Checking just for college students. This account has no monthly service fee for up to 5 years for students age 17-24 at account opening.^[2]

You must have proof of student status from the time of account opening until expected graduation date.

This account gives college students a debit card and a way to manage their day-to-day finances. Students can make purchases, send money to friends, get paychecks, and pay bills.

Because Chase is a nationwide bank, it's a good choice for students going to college away from home.

Member FDIC

Chase College Checking℠ - $100 Bonus

Click Here to Get $100 Coupon

Expires 1/25/2023

• Enjoy $100 as a new Chase checking customer when you open a Chase College Checking℠ account and complete 10 qualifying transactions within 60 days of coupon enrollment.
• Access to more than 16,000 Chase ATMs and more than 4,700 branches
• No Monthly Service Fee for up to 5 years if you're a student between the ages of 17-24 at account opening with proof of student status.
• Manage your money, see your accounts, and pay your bills using the Chase Mobile^® app
• Send and receive money in moments using Zelle^®
• Students ages 18-24 can open an account online or at a Chase branch. 17-year-olds must open at a Chase branch.
• Start planning for your future by using the budget tool in the Chase Mobile^® app to set, track, and adjust your spending to help you save more.
• Chase Overdraft Assist℠ - no overdraft fee 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*

*With Chase Overdraft Assist℠, we won't charge an Insufficient Funds Fee 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 you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.

Chase High School Checking ($0 to open)

Teens can get a head start on managing money. There is no monthly service fee for teens 13-17 if the account is linked to a qualifying personal parent checking account.^[3] A parent/guardian must be a joint owner.

Parents can monitor how the teen is spending, withdrawing, or depositing money with the Chase app. The alerts will be sent straight to your phone.

Chase First Banking^SM

Chase First Banking^SM is a debit card for kids age 6-17. If you're an existing Chase checking customer, you can add this account for your child at no extra cost.

The debit card will have your kid's name on it. But you, the parent, has full control. Only you can manage this account and add money to it.

You can set limits for how much your child can spend or withdraw at ATMs. You can even set custom limits by category (for example, $20 at restaurants). You'll be alerted when your child uses the card.

A cool feature is the ability to assign chores and pay when it's completed. Your child can also create a savings goal and track their progress towards the goal.

Member FDIC

Chase First Banking℠

Chase First Banking is a debit card for kids age 6-17 with $0 monthly service fee. You must be an existing Chase checking customer to open a Chase First Banking account.

The information for the Chase First Banking has been collected independently by CreditDonkey. The details on this page have not been reviewed or provided by the bank.

Click Here to Learn More

Chase Private Client Checking

The Chase Private Client Checking is their top-tier checking account is for high net worth individuals who have $250,000 on deposit with Chase. Many common bank fees are waived and you get exclusive benefits, including:

• A private banker
  
• A personal investment advisor
  
• Discounted rates for home and auto loans
  
• Guidance to help with business needs
  
• Dedicated phone line

Member FDIC

Chase Private Client - $2,000 Bonus

Click Here to Get Upgrade Code

Expires 1/25/2023

• You're eligible for a $2,000 bonus when you open a new Chase Private Client Checking account with qualifying activities.
• Within 45 days of coupon enrollment, transfer a total of $250,000 or more in new money or securities to a combination of eligible checking, savings and/or investment accounts and maintain the balance for at least 90 days from coupon enrollment.
• Get $2,000 when you open a new Chase Private Client Checking account with qualifying activities. Enjoy your $2,000 bonus which will be deposited into your account within 40 days.
• Speak with a Private Client Banker to open your Chase Private Client Checking account today. Schedule your meeting at your nearest branch or over the phone.
• No ATM fees worldwide.
• No Chase fee on incoming or outgoing wire transfers; can be completed online or over the phone.
• Experience a financial relationship that brings you more.
• Save time and money with better banking benefits and special services.

Chase Savings Accounts

Chase offers these savings account options:

• Chase Savings ($0 to open)
  This is Chase's basic savings account without any perks. It's pretty easy to waive the $5 monthly service fee with either a $300 daily balance or $25 automatic transfer every month from a linked Chase checking account. This account is free for teens under 18.

  Note: The information for the Chase Savings has been collected independently by CreditDonkey. The details on this page have not been reviewed or provided by the bank.

• Chase Premier Savings
  This account is designed to be paired with a Chase Premier Plus Checking or Sapphire Checking account. You can earn a higher interest rate when you have a bigger balance and meet certain relationship requirements.

• Chase CDs
  Chase offers term CDs of 1 month to 10 years. The opening deposit is $1,000.

  It's best to link a Chase CD to a personal Chase checking account so you can get a higher relationship rate. If you can afford a bigger deposit, you'll get a more competitive rate.

Chase's interest rates are low, so your money won't grow a whole lot. There are other savings accounts that pay over 2% in interest. So if your top priority is to grow your money, you'll want to look elsewhere.

However, it can still be used as a secondary savings when you pair it with a Chase checking account. There are advantages to having linked accounts from the same bank, such as fast transfers and features like overdraft protection.

How to Waive Account Service Fees

Like typical big banks, Chase does have service fees for most of its accounts. Fortunately, it's relatively easy to waive the fees for the basic accounts.^[4]

You can waive service fees by doing the following:

• Chase Total Checking ($12/month)
  $12 Monthly Service Fee OR $0 with one of the following, each monthly statement period:
  • Qualifying electronic deposits made into this account totaling $500 or more,
  • 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

• Chase Premier Plus Checking ($25/month)
  Waived if you maintain an average beginning day balance of $15,000 OR have a Chase mortgage with auto pay.

• Chase Sapphire Checking ($25/month)
  Waived if you maintain a combined beginning day balance of $75,000 or more in this account and linked qualifying Chase deposit and investment accounts.

• Chase College Checking ($6/month)
  Waived for college students age 17-24 for up to 5 years. After graduation, it can be waived if you make a direct deposit every month OR maintain an average ending day balance of $5,000 or more.

• Chase Secure Banking ($4.95/month)
  This monthly service fee cannot be waived.

• Chase Savings ($5/month)
  Waived by one of the following actions:
  1. Maintain a beginning day balance of $300 or more.
     
  2. Have a recurring auto transfer of $25 or more from a personal Chase checking account.
     
  3. Link to Chase Premier Plus Checking, Chase Sapphire Checking, or Chase Private Client Checking.
     
  4. Waived for those under 18.
     
  5. Link to Chase College Checking for Overdraft Protection.

• Chase Premier Savings ($25/month)
  Waived if you maintain a beginning day balance of $15,000 or more OR link to a Chase Premier Plus Checking or Chase Sapphire Checking.

Is Chase Bank Good?

Overall, Chase is a very solid choice if you're looking for a big-name bank that offers everything. It's great if you want to do all your money matters under one roof. You can transfer funds between all your Chase accounts.

Chase has a top-rated mobile app so it's easy to bank from anywhere. And there are lots of physical locations if you still need certain in-person banking services. If you travel domestically often, you can still have your bank and ATMs nearby.

The main downside is that like other traditional banks, the savings interest rate is very low. So Chase isn't the best choice as a primary savings account. It's better to look into these online savings accounts instead. But you can certainly use Chase as supplementary savings to link with your checking.

One of the biggest advantages of choosing Chase is that you can start building a relationship. Chase is popular for their credit cards, but approval may be more stringent than other issuers. Having a banking relationship can help open up more possibilities, like a better chance of getting their credit cards and loans.

Account Features

Chase checking and savings accounts offer these account features and tools:

• Direct Deposit
  Directly send paychecks into your checking or savings.

• Chase QuickDeposit^SM
  Deposit checks from anywhere by taking a photo with your phone. The daily mobile check deposit limit is $2,000, and the monthly limit is $5,000.

• Cardless ATM Access
  Withdraw money at Chase ATMs card-free by logging into your mobile wallet and entering your PIN.

• Online Bill Pay
  Pay thousands of billers online or via mobile app.

• QuickPay with Zelle®
  Easily send money to another person with just their email or phone number.

• Automatic Savings Program
  Create a recurring transfer from a Chase checking account to Chase savings account so you can grow your savings without thinking. You can choose the amount and frequency.

• Text banking
  Check balances and transaction history by simply texting.

• Overdraft Protection
  You must link a Chase checking and savings account for this feature. If you overdraw your checking account, Chase will transfer funds from your savings to cover it.

• Paperless Statements
  See up to 7 years of statements online.

• Account Alerts
  Set up alerts for account activity, such as for low balances, large transactions, and more.

How to Open a Chase Account

You can open a Chase account either in person, at a branch, or online.

College students will need their student ID or proof of enrollment for the College Checking account.

After filling in the application, just make your first deposit and that's it. You must be a U.S. citizen or resident alien to open an account online.

Chase Bank Other Services

Chase is a complete full-service bank. Besides personal banking products, Chase also offers these services:

• Business Services
  Small business owners have a selection of checking and savings accounts. Chase also offers business financing and merchant services for collecting payments.

• Credit Cards
  Chase is best known for their credit card lineup, offering huge welcome bonuses and good rewards. Chase has a number of highly valued cash back, travel rewards, and small business cards. See our picks of Chase's best cards.

  At Chase's Secure Site Chase Sapphire Preferred® Card Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®. Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, plus more. Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel. Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more. Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024. Intro APR for Purchases Intro APR for Balance Transfer Regular APR Annual Fee N/A N/A 19.74% - 26.74% Variable $95

• Investing
  Chase is part of JP Morgan, one of the biggest investment banks in the world. It offers a low cost, self-directed platform through J.P. Morgan Self-Directed Investing or managed services for high net worth clients.

• Mortgages
  Chase offers mortgages and home refinancing, as well as a home equity line of credit.

• Auto loans
  Chase offers auto loans and auto refinancing. Chase checking customers can get a 0.25% rate discount when refinancing an existing auto loan.^[5]

Other Bonuses and Offerings

• Benefits for Service Members
  Active and veteran members of the U.S. Armed Forces can receive a free Chase Premier Plus Checking with no monthly service fee and no balance requirements. You can also link Chase personal savings accounts for no service fees.^[6]

• Referral Bonuses
  You can earn up to $500 a year when you refer friends to open a qualifying Chase checking or savings account.^[7]

• Free Credit Report
  Anyone can enroll to get a free credit report from Chase. You don't even need to be a Chase customer.

How Chase Bank Compares

Bank of America
Chase has more checking and savings options. But in general, Bank of America has lower requirements to waive account fees. BofA also offers checking options for students. It also has savings IRAs, something that Chase lacks.

BofA also offers a full range of services, including banking, credit cards, mortgages, auto loans, and investing through Merrill Edge. Like Chase, Bank of America has many branches and ATMs throughout the US.

Wells Fargo
Wells Fargo has the largest nationwide presence with over 4,900 branches in 36 states. It also offers a lot of checking accounts, including options for teens, low income, and high balance individuals.

The standard interest savings rate is the same for the Platinum Savings Account. It also has Special Interest Rate 7- and 13-month CDs with high, competitive rates.

Wells Fargo also offers personal loans and student loans - something that Chase doesn't offer.

Ally Bank
Ally is an online bank with no physical branches. So it can offer higher savings interest rates and fewer fees. Its banking products have no minimum balance requirements or service fees.

Even though it's online, you can still access your money easily with over 43,000 Allpoint fee-free ATMs throughout the nation. Ally still offers features like mobile check deposits, online bill pay, and direct deposits.

If you don't need in-person banking services and want a higher interest rate, Ally is a top choice for online banking. It also consistently wins high customer satisfaction ratings.

Bottom Line

Chase is a good choice if you're looking for a bank with full range of services, physical locations, lots of ATMs, and good mobile banking. We think one of the best advantages of choosing Chase is developing a relationship so you can access other offerings, like their credit cards.

However, typical of most brick-and-mortar big banks, don't expect much in interest. And there are service fees unless you meet certain requirements.

References