Save money and be informed. CreditDonkey is a bank comparison and reviews website. This website is made possible through financial relationships with card issuers and some of the products and services mentioned on this site. Advertiser Disclosure†
Updated September 13, 2022

Chase Bank Review

Read more about Chase Coupon
Editorial Note: This content is not provided by the card issuer. Opinions expressed here are author's alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer.
Ad Disclosure: This article contains references to products from our partners. We receive compensation if you apply or shop through links in our content. You help support CreditDonkey by using our links. (read more)

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 Coupon
Chase Total Checking® - $200 Bonus

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)

Pros and Cons

  • More than 4,700 branches
  • New customer coupons
  • Full service banking
  • Low interest rates
  • Not in all states

Bottom Line

National bank with good promotions for new customers

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.

Is Bank of America or Chase better?
Bank of America has lower requirements for their basic checking account to waive the monthly fee. However, Chase offers more checking account options for different needs. Both banks are located throughout the US, but Chase has a slightly larger footprint.

New Customer Promotions

Chase is located in these states:
Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kentucky, Louisiana, Massachusetts, Michigan, Nevada, New Jersey, New York, Ohio, Oklahoma, Oregon, Texas, Utah, Washington, West Virginia, and Wisconsin.

Chase Checking Accounts

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

Chase Secure BankingSM

The Chase Secure BankingSM 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]

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.

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 BankingSM

Chase First BankingSM 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.

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

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 QuickDepositSM
    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.

Information Required:

  • Social Security number
  • Driver's license or state ID
  • Name and address
  • Date of birth
  • Phone number and email

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.

    Chase Sapphire Preferred Card
    Apply for Chase Sapphire Preferred Card
    At Chase's Secure Site
    • 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 PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
    N/AN/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

  1. ^ Chase. Chase Secure Banking Fees, Retrieved 9/13/2022
  2. ^ Chase. Chase College Checking Account Fees, Retrieved 9/13/2022
  3. ^ Chase. Chase High School Checking Account Fees, Retrieved 9/13/2022
  4. ^ Chase. Additional Banking Services and Fees for Personal Accounts, Retrieved 9/13/2022
  5. ^ Chase. Auto financing benefits, Retrieved 10/23/2022
  6. ^ Chase. Banking for Military Personal Banking, Retrieved 9/13/2022
  7. ^ Chase. Refer A Friend, Retrieved 10/23/2022
Chase
Member FDIC

Chase Total Checking® - $200 Bonus

Expires 1/25/2023
  • 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.

Citibank

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

Expires 1/9/2023
  • Earn up to $2,000 cash bonus when you open a new eligible Citi Priority Checking Account with required activities
  • 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 tier at any point during the maintenance period, the bonus changes.
  • Bonus will be paid within 30 days after you successfully complete all required activities.
TD Bank
Member FDIC

TD Beyond Checking - $300 Cash Bonus

Expires 10/31/2023
  • Earn $300 when you receive direct deposits totaling $2,500 or more within 60 days
  • Get more from your checking account. With TD Beyond Checking with Payback Plus, you'll earn interest and get reimbursed for non-TD ATM transactions, Overdraft Payback and more.
  • Monthly maintenance fee waived when you receive monthly direct deposits of $5,000 or more within a statement cycle, or maintain a minimum daily balance of $2,500, or a combined balance of $25,000 across eligible TD accounts.
  • TD ATM fees waived at any ATM and non-TD fees reimbursed when you keep at least a $2,500 daily balance
  • Get overdraft fees automatically reversed up to two times a year.
  • Get your money where it needs to go —fast— with Rush Bill Payments, Send Money with Zelle®, incoming wires and a reimbursement for one outgoing wire (domestic or international) per statement cycle.
  • TD checking accounts come with an instant-issue debit card - and, you can pay with confidence with contactless technology Visa Zero Liability protection and 24/7 fraud monitoring.
  • Monthly maintenance fee waived on one TD Simple Checking℠ account and any Savings accounts. Plus, get free standard check orders, money orders, official bank checks and stop payments.
Discover Bank
Member FDIC

Discover Online Savings - $200 Cash Bonus

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 CY922 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 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 12/15/2022, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Expires 12/15/2022
CIT Bank
Member FDIC

CIT Bank Savings Connect - 3.60% APY

  • Earn 15x the national average
  • $100 minimum opening deposit
  • No monthly maintenance fee

Write to Anna G at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

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.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. This site may be compensated through the Advertiser's affiliate programs.

Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Chase. This site may be compensated through the Advertiser's affiliate programs.

Read Next:

Chase Premier Plus Checking Review

Chase Premier Plus Checking

Chase College Checking Review

Chase College Checking

Chase You Invest Review

Chase You Invest Review

Compare:

Leave a comment about Chase Bank Review?




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 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.

About Us | Reviews | Deals | Tips | Privacy | Do Not Sell My Info | Terms | Contact Us
(888) 483-4925 | 680 East Colorado Blvd, 2nd Floor | Pasadena, CA 91101
© 2022 CreditDonkey Inc. All Rights Reserved.