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.
Do you want to save on hefty international transaction fees, markups and all? Wise is here for you to help. You can save up to 7x when sending money abroad in more thann 55 currencies.
|📝 Table of contents|
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 type||Monthly fee (USD)||APY(%)²||Features|
|Chase Total Checking||12 - waive with 1,500 minimum balance||N/A||ATM card provided - no checking facility|
|Chase Secure Banking||4.95 - fixed fee||N/A||No overdraft feature|
|Chase Premier Plus Checking||25 - waive with 15,000 minimum balance||0.01||4 free out-of-network ATM withdrawals/month Service fee waived for linked savings accounts|
|Chase College Checking||6 - waive with 5,000 minimum balance||N/A||ATM card provided Autosave option|
|Chase Sapphire Checking||25 - waive with 75,000 minimum balance||0.01||No ATM fees Premium service|
|Chase Private Client Checking||35 - waive with 150,000 minimum balance||0.01||Open in branch only No ATM fees Premium service|
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 type||Monthly fee (USD)||APY(%)||Features|
|Chase Savings||5 - waive with 300 minimum balance or autosave||0.01||Fixed interest rate 6 free withdrawals per month|
|Chase Premier Savings||25 - waive with 15,000 minimum balance or linked Premier account||0.01 - 0.05 based on balance||Tiered interest including relationship rates based on account balance and status|
|Chase Private Client Savings||Discuss with relationship manager||0.01 - 0.05 based on balance||Tiered interest including relationship rates based on account balance and status Premium account for holders of Chase Private Client Checking Accounts only|
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 - 9,999||Relationship rates - 0.02 Standard rates - 0.01|
|10,000 +||Relationship rates - 0.05 Standard rates - 0.01|
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.
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.
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 balance||APY|
|Bank of America⁸|
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|
|Chime⁹||No fee or minimum balance||0.5%¹⁰|
10 USD fee
No minimum opening deposit
|0.04% - 0.06%|
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%|
5 USD fee - hold a minimum balance of 300 USD to avoid this fee
No minimum opening deposit
4 USD fee
25 USD minimum opening deposit
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.
- 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
- 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 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.
Before you send money overseas, take a look at the secure, fast, low cost transfers from Wise. Send money all over the world using the real mid-market exchange rate and low fees, which can work out 7x cheaper than using your regular provider.
Don’t get caught out by high fees or bad exchange rates. Check out Wise to see how much you can save:
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.
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:|
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.
There are many questions about offshore banking. We'd like to help you and answer these questions, such as, what is an offshore bank account & how to open one?
Find the surprisingly easy way to open a bank account in Europe for non-residents. Our helpful guide has all the information you'll need — read on.
In recent years, neobanks gained massive popularity. So, we'll take a look at what is a neobank, their pros & cons, and if they're different from online banks?
TD Bank claims to be America's most convenient bank. To see it yourself if the claim is correct, check out one of our TD Bank reviews.
Citibank started life as the City Bank of New York, way back in 1812, and now operates across 19 countries, with branches in major metropolitan areas in the...
In one of our most recent Bank of America reviews, we've looked at the important info about BoA's account types, pros & cons and also compared it to some banks.