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Chase Bank Review 2021
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Written By
Reviewed By
Updated on Thursday, April 1, 2021
Chase Bank
- Chase Bank Savings accounts
- Chase Bank Checking accounts
- Chase Bank CDs
- Customer experience at Chase Bank
Chase Bank represents the U.S. consumer and commercial banking business of JPMorgan Chase & Co. Its history dates to 1877, with the founding of Chase National Bank. It’s one of the nation’s largest “big banks,” serving nearly half of American households with a range of banking products that includes checking accounts, savings accounts and credit cards.
As a traditional bank with digital capabilities, Chase has over 4,700 branches and 16,000 ATMs. Banking customers can access their accounts online and through the Chase mobile app. If you’re looking for great savings rates, however, Chase may not be the best fit.
Chase Bank savings accounts
- APY:0.01% for Premier standard rates; 0.02% – 0.05%, based on balance, for Premier Relationship rates
- Minimum balance: $15,000 minimum daily balance to avoid a monthly service fee
- Monthly fee: $25, or $0 if you meet requirements to waive the fee
The Chase Premier Savings account is designed for savers who maintain higher balances and want to be rewarded with higher rates. The standard rate for this account is 0.01%, but you can earn 0.02% to 0.05%, based on your balance, if you qualify for Premier Relationship rates. Relationship rates are available when you link your Premier Savings account to Chase Premier Plus Checking or Chase Sapphire Checking account and make at least five customer-initiated transactions from your linked checking account each month. The highest Relationship rates are reserved for savers who keep $250,000 or more in savings.
You’ll need to maintain at least a $15,000 minimum daily balance or link your Premier Savings account to either of the checking accounts mentioned below to avoid the account’s $25 monthly maintenance fee.
- APY:0.01% across all balances
- Minimum balance: $300 minimum daily balance to avoid the monthly service fee
- Monthly fee: $5, or $0 if you meet requirements to waive the fee
Chase Bank checking accounts
- APY: N/A
- Minimum balance: $1,500 minimum daily balance required to avoid the monthly fee
- Monthly fee: $12, or $0 if you meet requirements to waive the fee
- ATM access: Access to 16,000 ATMs fee-free; additional fees may apply for transactions made at non-Chase ATMs
- APY: N/A
- Minimum balance: No minimum deposit to open or avoid a monthly fee
- Monthly fee: $4.95
- ATM access: Access 16,000 Chase ATMs nationwide
Chase Secure Banking is designed for debit-card users who want a low monthly fee. This account doesn’t offer paper checks but you can get money orders and cashier’s checks for free. The monthly service fee is a flat $4.95, regardless of your balance, though there is no option to waive it.
- APY:0.01% across all balances
- Minimum balance: $15,000 average daily balance required to avoid a monthly fee
- Monthly fee: $25, or $0 if you meet requirements to waive the fee
- ATM access: Access to Chase DepositFriendly ATMs; no Chase fee on first four non-Chase ATM transactions each month
Chase Premier Plus Checking is an interest-bearing checking account. There is a monthly service fee but you can waive it by meeting minimum balance requirements or linking your account to an eligible Chase savings account. There’s no fee for counter checks, money orders or cashier’s checks, and you can get a small safety deposit box with no annual rent.
- APY: N/A
- Minimum balance: None
- Monthly fee: $0
- ATM access: No fees for transactions at 16,000 Chase ATMs
Chase First Banking is available to children ages 6 or older whose parents have an eligible Chase checking account. This account comes with its own debit card that allows parents to place spending limits while teaching kids about money. There’s no monthly service fee for this account, though other fees may apply.
- APY: N/A
- Minimum balance: $5,000 average daily balance to avoid the monthly fee
- Monthly fee: $6, or $0 if you meet requirements to waive the fee
- ATM access: Access funds at 16,000 Chase ATMs
The Chase College Checking account is designed for students ages 17 to 24. This account has a $6 monthly fee, which is waived for up to five years while enrolled in college. It also can be waived by scheduling a recurring direct deposit or maintaining a $5,000 average daily balance.
This account offers Chase QuickPay with Zelle, so it’s easy for students to send and receive money from friends and family.
- APY: N/A
- Minimum balance: None
- Monthly fee: $0
- ATM access: Access money at 16,000 Chase ATMs without a fee
The Chase High School Checking account is geared toward students ages 13 to 17. There’s no monthly fee for this account but it has to be linked to an eligible Chase checking account belonging to a parent. Once students turn 19, the Chase High School Checking account automatically converts to a Chase Total Checking account.
- APY:0.01% across all balances
- Minimum balance: $75,000 in eligible deposits/investments to avoid the month service fee
- Monthly fee: $25, or $0 if you meet requirements to waive the fee
- ATM access: Pay no ATM fees worldwide and enjoy higher ATM and purchase limits with a Sapphire Banking debit card
Sapphire Banking is one of two premium checking account options offered by Chase. This account offers a variety of perks, including no ATM fees worldwide, fee waivers and higher limits on purchases, ATM withdrawals, Chase QuickDeposit and Chase QuickPay with Zelle. This account also earns interest, though you’ll need at least a $75,000 minimum balance in eligible deposits/investments to avoid the $25 monthly fee.
- APY:0.01% across all balances
- Minimum balance: $150,000 average daily balance across eligible linked Chase accounts to avoid the monthly fee
- Monthly fee: $35, or $0 if you meet requirements to waive the fee
- ATM access: Pay no ATM fees worldwide and get a refund of fees charged to you at non-Chase ATMs
Chase Bank CDs
| Term | APY | Minimum Deposit to Open & Earn APY |
|---|---|---|
| 1 year | 0.01% for standard rates; 0.02% to 0.05% for Relationship rates, based on balance | $1,000 |
| 3 years | 0.01% for standard rates; 0.02% to 0.05%, for Relationship rates based on balance | $1,000 |
| 5 years | 0.01% for standard rates; 0.02% to 0.05% for Relationship rates, based on balance | $1,000 |
Chase offers certificates of deposit with terms ranging from one month up to 120 months. You’ll need $1,000 to open any CD account with Chase.
If you don’t have a checking account with Chase, you’ll earn the standard interest rate and APY of 0.01% across all balances and CD terms. Additionally, you’ll have to go to a Chase branch to open a CD if you’re not already a customer. If you have an eligible Chase checking account, you can qualify for Relationship rates, which are tiered according to your balance and CD term.
Chase doesn’t offer jumbo CDs or no-penalty CDs, though you can open a CD with $250,000 or more. Early withdrawal penalties apply if you take money out of your CD before it matures.
Customer experience at Chase Bank
Chase has an extensive geographic footprint nationwide, with branches in 38 states and the District of Columbia. In addition to 16,000 ATM locations in the U.S., you may also be able to use your Chase debit card or credit card to access funds at Visa ATMs globally. Chase customer support is available by phone at 1-800-935-9935 if you need help with mobile banking or online banking. You also can log in to the Chase mobile app to send a secure message or reach customer support on Twitter @ChaseSupport and through Facebook messenger.
