Chase Bank Review (August 2024)

Chase earns a 4.6-star rating from us for its checking accounts. It has options for children and adults, including interest-bearing accounts. None have a minimum deposit or minimum balance requirement, and only one has an unavoidable monthly fee.

Most of the bank’s checking accounts support Zelle payments, and you can set up automatic transfers to a linked Chase savings account. However, some accounts don’t support writing personal checks.

Chase Sapphire Checking

Chase Sapphire Checking is ideal if you expect to have a large balance and want premium benefits. To get the account’s $25 monthly maintenance fee waived, you must keep a minimum $75,000 average beginning daily balance across eligible linked Chase accounts. You get these features:

• Refunds of fees charged by non-Chase ATMs
• Free Chase checks
• No overdraft fees for up to four days per year
• Free cashier’s checks and money orders
• Free wire transfers
• 24/7 dedicated phone support
• Free rush debit card replacement
• Foreign exchange rate adjustments for ATM and debit card transactions
• Increased debit card daily purchase limit
• Increased limits for ATM withdrawals, Zelle and remote check deposits
• No legal processing costs
• Waived monthly fees on nine eligible checking accounts (excluding Private Client Checking)
• Waived monthly fees on eligible savings accounts (excluding Private Client Savings)

Account funds earn an APY with no relationship rate option. There’s no early access to direct deposits, and overdrafts beyond four annually will cost $34.

Chase Private Client Checking

Suited for customers with a lot of money to manage, Chase Private Client Checking is the bank’s other high-end account option. In addition to the Chase Sapphire benefits mentioned above, this account gives you these perks:

• Free custom checks instead of regular Chase designs
• Support from a private client banker and business banking adviser
• Lower auto and home loan rates
• Rental fee waiver for existing safe deposit boxes (size limits apply)
• Entertainment and sports perks
• Waived monthly fees on up to nine Private Client Checking accounts
• Waived monthly fees on eligible savings accounts (excluding Premier Savings)

Chase Private Client Checking pays a small amount of interest. You won’t have early access to direct deposit funds. At $35, this account’s monthly fee is the highest of any Chase personal checking or savings option. You can get the fee waived by meeting one of these requirements:

• Linking a Chase Platinum Business Checking℠ account
• Maintaining a $150,000 minimum average beginning daily balance across eligible Chase accounts

Chase Premier Plus Checking

Chase Premier Plus Checking is a mid-range option for people who want to save on certain transactions. It pays a small amount of interest and offers these free services and perks:

• No Chase fees on four non-Chase ATM transactions per statement cycle (unlimited for active-duty and reserve military members)
• Chase personal checks
• Money orders
• Cashier’s checks
• Wire transfers (for active-duty and reserve military members only)
• Waived monthly fees for two Chase checking accounts (excluding Sapphire Checking and Private Client Checking)
• Waived monthly fee for a Chase savings account (excluding Private Client Savings)

Chase Premier Plus Checking doesn’t support early direct deposits. Additionally, it has a $25 monthly maintenance fee unless you meet one of these requirements:

• Being a veteran or current member of the U.S. military
• Maintaining a $15,000 minimum average beginning daily balance across eligible linked Chase accounts
• Having a Chase first mortgage linked to a Chase account for automatic payments

Chase Total Checking

Chase Total Checking might appeal to customers who want common checking account features, including overdraft protection, Zelle and autosave tools. You can have the $12 monthly waived fee if you meet one of these conditions during each statement each cycle:

• $1,500 minimum beginning daily balance
• $500 minimum in qualified electronic deposits
• $5,000 minimum average beginning daily balance across eligible Chase accounts

This account doesn’t pay interest or let you withdraw direct deposits early. The bank charges for cashier’s checks, money orders and use of non-Chase ATMs. You’ll also need to purchase a checkbook to write checks.

Chase offers a $300 bonus for new customers who open a Total Checking account and receive direct deposits of at least $500 within 90 days. The offer ends July 24, 2024.

Chase Secure Banking

Chase Secure Banking is best for those who don’t need checkbooks, overdraft protection or wire transfers. It supports digital payments, including Zelle and online bill pay, and provides free cashier’s checks and money orders. You can also access your direct deposits up to two business days early.

One of the biggest downsides of the Secure Banking account is the unavoidable $4.95 monthly fee. Also, you won’t be reimbursed for non-Chase ATM fees, and the account doesn’t earn interest.

Currently, Chase offers a $100 sign-up bonus for new checking customers. The offer ends July 24, 2024.

Chase First Banking

Chase First Banking is for customers who have a qualifying Chase checking account and want to help a 6- to 17-year-old child learn about financial management. This non-interest-bearing account has no monthly fee and offers spending and saving tools online. The included debit card supports cash withdrawals and everyday spending.

The bank only allows the account to be funded through transfers from the parent or guardian’s linked checking account. Chase First Banking doesn’t support many common transactions, including:

• Direct deposits
• Wire transfers
• Check deposits
• Deposits at ATMs
• Online bill payments
• Zelle
• Check writing

There’s also no overdraft protection, and using a non-Chase ATM comes with a fee.

Chase High School Checking

Chase High School Checking is a bank account shared by a 13- to 17-year-old student and a parent or guardian. There’s no monthly fee, but the parent must link a qualifying Chase checking account. Unlike Chase First Banking, this account supports typical transactions, including Zelle, direct deposit and mobile check deposit.

However, High School Checking lacks overdraft protection and doesn’t pay interest. Another drawback is that you can only apply for this account in person at a Chase branch.

Chase College Checking

Chase College Checking is for 17- to 24-year-olds who are in college or vocational, technical or trade school and want an affordable account with typical banking features. The bank waives the $6 monthly fee for five years or until graduation, whichever comes first. Here are the other options for getting Chase to waive the fee:

• Maintain a minimum $5,000 average ending day balance
• Have one or more qualified electronic deposits (such as a paycheck) each statement cycle

This Chase bank account supports overdraft protection, direct deposit, Zelle and automatic transfers to a linked savings account. However, the bank doesn’t pay interest or reimburse non-Chase ATM fees for these account holders. Plus, the bank requires 17-year-olds and those who don’t have Social Security numbers to apply in person.

We give Chase a 3.7-star rating for its three savings account options. They don’t have requirements for a minimum opening deposit or minimum balance. All three accounts come with an ATM card and let you set up automatic transfers to a linked Chase checking account. However, their APYs are below the national average, and Zelle and online bill pay aren’t available.

Chase Savings

Chase Savings is ideal for people who want an accessible, low-cost savings account. It has a $5 monthly fee that the bank waives if any one of these conditions is met during each statement period:

• $300 minimum balance at the beginning of each day
• Linked Chase College Checking account for overdraft protection
• An account holder under 18 years old
• A Chase checking account with at least $25 in repeating or autosave transfers
• A Chase Sapphire, Premier Plus or Private Client checking account linked to the account

Two drawbacks of the Chase Savings account are that it earns a low APY and isn’t eligible for higher relationship rates.

Chase Premier Savings

A Chase Premier Savings account best suits savers who can qualify for higher relationship rates. This requires having a linked Chase Sapphire or Premier Plus checking account and using it for five or more qualifying transactions each statement period.

The account’s high $25 monthly fee is a disadvantage given the low APY. However, the fee is waived if you have a $15,000 minimum daily beginning balance or a linked Chase Sapphire or Premier Plus checking account.

Chase Private Client Savings

Available only to customers with a Chase Private Client Checking account, the Chase Private Client Savings account is good for avoiding fees. In addition to paying no monthly service fee, you can use any ATM worldwide and have the charges refunded. Other waived charges include:

• Cashier’s checks
• Money orders
• Wire transfers
• Stop-payment fees
• Rush replacement for an ATM card
• Legal processing costs

You can expect the relationship APY since a Chase Private Checking account is required.

Review our list of the best savings accounts if you’re not interested in Chase.

Chase’s CDs most benefit savers who have a Chase checking account and qualify for the more competitive relationship rates. Terms are as short as one month and as long as 10 years. This gives you many options based on how soon you need to withdraw the funds.

The standard APY applies regardless of the CD amount or the term length. However, relationship rates may be higher for certain CD terms or larger deposits.

Withdrawing funds before a Chase CD’s maturity date results in an early withdrawal penalty. The minimum fee is seven days’ worth of interest for withdrawals during the first six days of the CD term. Otherwise, the maximum penalty is based on the CD term:

• Terms less than six months: 90 days’ worth of interest
• Six- to 23-month term: 180 days’ worth of interest
• Minimum 24-month term: 365 days’ worth of interest

Chase’s CD ladders are only available to Private Client Checking customers. They’re made up of four CDs that have different term lengths and are opened simultaneously, all with the same deposit amount. Chase offers two options for a set of four CDs.

The benefit is you can have easier access to your money than you would with just one CD with a longer term. As each CD matures, it automatically renews for the longest term in the ladder unless you withdraw the funds.

Low APYs are the main disadvantage of Chase’s CD ladders. Their APYs are low at both standard and relationship rates. This means opening individual CDs can get you much better rates. Plus, early withdrawal penalties still apply.