Chase Bank review: Who is Chase Bank best for?

Adam Rozsa
07.24.21
6 minute read

Impressively, Chase Bank has been in operation since 1799. These days, this multinational financial institution offers a broad range of products and services to consumer and commercial clients.

If you’re thinking of opening any of the range of Chase accounts available, you need this guide. Use this Chase Bank review to get a picture of how Chase performs for checking accounts, savings accounts and customer service.

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📝 Table of contents

Chase Checking Account reviews

Let’s kick off with a Chase checking review. As you’d expect from a global giant, Chase has a broad range of checking account options which are designed to suit different customer needs. You’ll find checking accounts including:¹

  • Chase Total Checking
  • Chase Secure Banking
  • Chase Premier Plus Checking
  • Chase College Checking
  • Chase Sapphire Checking
  • Chase Private Client Checking
💡It’s worth knowing that Chase accounts, products, fees and interest may vary between locations. Check out the details for your zip code before you sign up. The information in this article is based on a California zip code unless otherwise stated.

Here’s a quick overview of the fees, APY and key features for these accounts. Check out the full details and product information - including other fees - online.

Account typeMonthly fee (USD)APY(%)²Features
Chase Total Checking12 - waive with 1,500 minimum balanceN/AATM card provided - no checking facility
Chase Secure Banking4.95 - fixed feeN/ANo overdraft feature
Chase Premier Plus Checking25 - waive with 15,000 minimum balance0.014 free out-of-network ATM withdrawals/month Service fee waived for linked savings accounts
Chase College Checking6 - waive with 5,000 minimum balanceN/AATM card provided Autosave option
Chase Sapphire Checking25 - waive with 75,000 minimum balance0.01No ATM fees Premium service
Chase Private Client Checking35 - waive with 150,000 minimum balance0.01Open in branch only No ATM fees Premium service

chase bank reviews

Chase Savings Account reviews

If you want to grow your money but are not keen on locking it away in a fixed term account, these Chase Savings Account options may suit you. Use Autosave from your Chase checking account to grow your balance more quickly. Here are the key accounts to consider:³

  • Chase Savings
  • Chase Premier Savings
  • Chase Private Client Savings
Account typeMonthly fee (USD)APY(%)Features
Chase Savings5 - waive with 300 minimum balance or autosave0.01Fixed interest rate 6 free withdrawals per month
Chase Premier Savings25 - waive with 15,000 minimum balance or linked Premier account0.01 - 0.05 based on balanceTiered interest including relationship rates based on account balance and status
Chase Private Client SavingsDiscuss with relationship manager0.01 - 0.05 based on balanceTiered interest including relationship rates based on account balance and status Premium account for holders of Chase Private Client Checking Accounts only

Chase CD

CD - Certificate of Deposit - accounts require you to surrender your deposit for a fixed period of time, in exchange for a better rate of interest. If you need to get your money back before the end of the term, you may lose out on interest and be charged penalty fees.

Chase CD accounts are not offered across all locations - so check your zip code online to see if you can apply. The information below is based on a New York zip code and is for reference purposes only.

At the time of writing, there is no difference in the APY based on the length of your CD term⁴. These rates will change over time, so it is important to check before you sign up.

Minimum deposit (USD)APY⁵ (%)
1,000 - 9,999Relationship rates - 0.02 Standard rates - 0.01
10,000 +Relationship rates - 0.05 Standard rates - 0.01

Chase Bank customer experience

Chase has a handy help page available online which has a good range of resources including FAQs, videos and troubleshooting ideas⁶. If you need further help, the easiest way to speak to the customer service team is by phone on 1-800-935-9935. You can also connect on social media.

Chase Bank overdraft fees

Some Chase accounts come with overdraft facilities. If you go into your overdraft, you may be charged an insufficient funds fee whenever a transaction is processed - or returned - which takes you over your limits⁷.

It’s important to understand the terms of your specific account because overdraft fees may mount up quickly. Usually there’s a limit to the number of times in a day you can be charged an overdraft charge - but this can still be over a hundred dollars a day.

chase bank reviews

Chase Bank comparison

Not sure if Chase is for you? Shopping around is the best way to get an account that suits your needs. Check out this overview comparison of similar savings accounts and their rates - and click through on the provider to get a full review of each bank.

Fees and minimum balanceAPY
Bank of America

8 USD fee - hold a minimum balance of 500 USD to avoid this fee

100 USD minimum opening deposit

0.01% - Preferred Rewards members may earn more
ChimeNo fee or minimum balance0.5%¹⁰
Citibank¹¹

10 USD fee

No minimum opening deposit

0.04% - 0.06%
PNC Bank¹²

5 USD fee - hold a minimum balance of 300 USD balance or set up auto savings to avoid this fee

25 USD minimum opening deposit

0.04% - 0.06%
TD Bank¹³

5 USD fee - hold a minimum balance of 300 USD to avoid this fee

No minimum opening deposit

0.02%
US Bank¹⁴

4 USD fee

25 USD minimum opening deposit

0.01%

Chase Bank pros and cons

Being picky with your banks is the best way to find the right one for you. Do your research and compare a few different providers on the basis of convenience, service and cost - then you’ll know your account will work for your needs. Here are a few pointers when you’re considering Chase.

Pros

  • Long-established bank with a global reach
  • Good range of products across all segments
  • Online and mobile banking available - as well as a convenient branch network

Cons

  • Not all products are available in all states - and terms and conditions may vary too
  • The best interest rates and perks are reserved for people with the highest balances

chase bank reviews

Bottom line: Who Is Chase Bank best for?

Chase has a good range of products which span checking, saving, credit cards, loans and more. Services are on offer for private and commercial customers, and Chase is a recognized global brand.

Chase has a strong reputation for private client services which are aimed at high wealth individuals. There are also plenty of accounts on offer which have fairly easy ways to have the monthly fees waived, which may make them suited to daily use by those of use still building up to a high wealth status. Opening bonuses and special promotional rates can make Chase a good choice, depending on your priorities.

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Frequently asked questions

Is Chase Bank a good bank?

Chase is a reputable bank with a global span. When it comes to accounts, Chase has everything covered, so the chances are that you’ll find a product that suits you.

It’s always worth shopping around for financial products, so find the Chase account you prefer, and compare it with a few other providers to see which works best for your needs.

Is Bank of America or Chase better?

Based on Trustpilot's (a consumer review website) Chase reviews, the bank has a score of 1.3 out of 5 stars on where most of the feedback seem to be revolving around credit cards and customer service.¹⁵ This is exactly the same score Bank of America also received on the website.¹⁶

But in general, both are good traditional banks with a range of products on offer. Whether Bank of America suits you more than Chase will depend on your preferences and financial goals. Compare the account class you’re looking for from both providers - and a few more - to get the best product for your needs in the end.

Chase Bank is a global powerhouse, with a good range of options for most customers. However, depending on your needs you might find that there are alternatives out there with better interest rates, more convenient online service or lower transaction fees for the services you need regularly. That’s why research is key to finding the right account for you.

Use this Chase Bank review as a springboard, and check out a few more providers and reviews online to find your perfect bank account.

📖 Not sure if Chase is for you? Here are some more reviews you should check out:

Sources:

1]Chase - Checking Account
2]Chase - Consumer Deposit Rates (2)
3]Chase - Savings Accounts
4]Chase - Certificate of Deposit
5]Chase - Consumer Deposit Rates (1)
6]Chase - Customer Service
7]Chase - Deposit Disclosures and Interest Rates
8]Bank of America - Savings Accounts
9]Chime - What are the fees?
10]Chime - What do I need to know about the Chime Savings Account
11]Citi - Savings Account
12]PNC Bank - Standard Savings Account
13]TD Bank - Simple Savings Account
14]US Bank - Standard Savings Account
15]Trustpilot - Chase
16]Trustpilot - Bank of America

All sources checked on 23 July 2021


This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.

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