Chase Bank Review: Pros, Cons, And Alternatives

Chase Bank is probably one of the most well known banks in the United States. They have branches almost everywhere, and have a full array of banking products and services, including for both consumers and businesses.

But how good of a bank are they? Should you consider using them? 

Let's break it down in our Chase Bank review, and also see how they compare to the best online banks. If you're thinking about Chase for your business, see how they compare to the other best business checking accounts.

Who Is Chase Bank?

Chase Bank, also known as JPMorgan Chase Bank, is the largest banks in the United States by assets. It currently holds around $3.7 trillion (almost $1 trillion more than the runner-up, Bank of America). 

It has over 15,000 ATMs and over 4,700 branches. Chase Bank is also a full-service bank offering a full range of deposit and loan products.

Chase Bank shines in the vast amount of offerings. It offers every kind of account, and typically has some sweet incentives to become a customer.

Where it's a tough sell is the fees and interest rates. Most products at Chase have monthly fees (which can be waived), and their interest rates on products are not competitive. 

What Do They Offer?

We’re going to look at the deposit products offered by Chase Bank. But they also offer a wide range of products and services, including business accounts. 

Checking Accounts

There are eight different checking accounts, including three accounts for kids and students. See how their checking accounts compare on this list of the best free checking accounts.

Chase Total Checking^®

There is a $12/month maintenance fee with Chase Total Checking®, but it's waived if you're able to meet one of the following requirements:

• Electronic deposits made into this account totaling $500 or more, such as payments from payroll providers or government benefit providers, by using (i) the ACH network, (ii) the Real Time Payment or FedNow℠ network, (iii) third party services that facilitate payments to your debit card using the Visa® or Mastercard® network, 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.

With the exception of the monthly fee, don't expect to be able to waive many other fees (such as out-of-network ATM fees or check fees) with this account.

Chase Premier Plus Checking

There is a $25/month fee but it is waived for the following:

• Beginning daily balance of $15,000 total in your Chase accounts
• Linked first mortgage enrolled in automatic payment

The fee is also waived for military members, which makes this account one of our top picks for best military checking accounts.

You get four non-Chase ATM fee waivers per statement period. 

Chase First Banking℠

Chase First Banking℠ is a parent-owned account that can be owned for kids that are between the ages of 6 and 17. It has no monthly fee and allow kids to spend money with a debit card.

But this account is also very limited. Services that are unavailable with this account include:

• Cash or check deposits
• Zelle®
• Chase QuickDeposit
• Direct deposit
• Chase overdraft services
• Check Writing
• Wire transfers (incoming or outgoing)
• ACH transactions (deposits and withdrawals)

The only way to fund your child's Chase First Banking account is by transferring money from the parent's linked Chase account. While limiting, these restrictions are ultimately in place to protect kids from making big financial mistakes or being advantage of.

Chase High School Checking℠

Chase High School Checking℠ accounts can be opened for teens ages 13 to 17.

Again, these accounts are co-owned by parents and have no monthly fees. But while Chase First Banking accounts can be opened online, you'll need to visit a branch to open a Chase High School Checking account.

The other main difference between this account and Chase First Banking is that the training wheels are taken off in regard to what your teen can do with this account. It gets the same deposit and withdrawal options that are included on adult accounts.

Chase College Checking℠

Chase College Checking℠ is a great checking account option for college students.

You must be 17 to 24 years old and have proof of student status. There is a $12/month fee waived for up to five years while you're in college. You can also avoid the monthly fee by:

• Making a direct deposit
• Having an average daily balance of $5,000

Note that if you're 17 years old, you'll need to visit a branch to open a Chase College Checking account.

See the best college student checking accounts here >>

Chase Sapphire Checking

There is a $25/month fee but it is waived if you have $75,000 total in your Chase accounts. There are no ATM fees worldwide. 

Chase Private Client Checking

This account has a $35 monthly fee. To have it waived, you'll need to have an average daily balance of $150,000 or link a Chase Platinum Business Checking account.

Again, this account has no ATM fees worldwide. Additional perks include the ability to work with a dedicated Private Client Banker and discounted rates on Chase mortgages and auto loans.

Check out Chase Private Client here >>

Savings Accounts

Chase savings accounts earn very low interest and can incur fees if certain criteria are not met. Each savings account allows six withdrawals per statement. After that, there is a $5 Savings Withdrawal Limit Fee for each withdrawal.

Chase has never made our list of the best savings accounts. But you can see which banks do here: Best Savings Accounts.

Chase Savings℠

You can earn up to $150 by opening a Chase Savings℠ account. There is a $5/month fee but it is waived if you have a $300 beginning daily balance, do one $25 transfer from a Chase checking account, or link with certain Chase accounts. The APY is a dismal 0.01%

Chase Premier Savings

There is a $25/month fee but it is waived if you have a $15,000 beginning daily balance, do one $25 transfer from a Chase checking account, or link with certain Chase accounts. You'll earn 0.01% with a standard account or 0.02% with a linked Chase Premier Plus Checking℠ or Chase Sapphire℠ Checking account.

CDs

Even Chase CDs pay low interest compared to many other banks. Yields go up as CD terms and the CD balances increase. Starting with a 1-month CD, the yield is 0.02% and maxes out at just 0.05% for a 120-month CD with a $10,000+ balance and a linked account that can get you a "relationship rate."

See where you can find the best bank CD rates here.

Business Accounts

Chase is a strong player in the business banking space. 

Chase is one of the largest brick and mortar banks in the United States. And, as a result, if you're looking for a local business bank, chances are Chase will be nearby. Also, if your business does a lot of cash transactions, it can be helpful to have a business bank with a branch (versus the fully-mobile solutions that are becoming more popular).

The Chase Business Complete Banking^® is one of the more popular business checking account options because Chase has a huge number of branches and great service. It isn't truly free unless you meet the minimum monthly requirements to make it so, but we list it as a top business checking account because it's available nationwide, has branches nearly everywhere, and is one of the most robust banking products out there currently. Plus, the minimum requirements are super easy to meet - check it out.

Finally, Chase is a top originator of small business loans and lines of credit - so if your small business might need access to these tools, Chase offers them.

Chase Bonus And Promotional Offers

Right now, Chase has several bonus and promotional offers going on for their various accounts! You can find all our bank bonus and promotions here >>

Up To $3,000 With Chase Private Client Checking℠

Chase Private Client Checking℠ is the top of the line Chase offering for customers. You get to experience a banking relationship that beings you more, including a team dedicated to you, no ATM fees worldwide, no Chase fees on incoming or outgoing wire transfers, and more.

And right now, you can get up to a $3,000 bonus when you open an account with qualifying activities. 

You can earn $1,000 when you deposit $150,000, or earn $2,000 when you deposit $250,000, or earn $3,000 when you deposit $500,000 or more.

In order to qualify, within 45 days of coupon enrollment, transfer qualifying new money or securities to a combination of eligible checking, savings and/or J.P. Morgan Wealth Management non-retirement accounts (excludes Chase Personal and Business CDs, Chase business checking and savings accounts, any J.P. Morgan Self-Directed Investing & Automated Investing, J.P. Morgan Personal Advisors Accounts, and J.P. Morgan Wealth Management retirement accounts). Your bonus will be determined on day 45. Maintain your new money for 90 days from coupon enrollment and enjoy your bonus. We'll add it to your account within 40 days.

Open a Chase Private Client account here >>

$300 With Chase Total Checking^®

Chase Total Checking^® is the the main checking account for Chase customers. It offers everything you want in a checking account, including access to Chase's network of banks and ATMs, a debit card, and more.

And right now, you can get up to a $300 bonus when you open an account with qualifying activities. 

Open A Chase Total Checking^® Account Here >>

$300 with Chase Business Complete Banking^®

The Chase Business Complete Banking^® is one of the more popular business checking account options because Chase has a huge number of branches and great service. It isn't truly free unless you meet the minimum monthly requirements to make it so, but we list it as a top business checking account because it's available nationwide, has branches nearly everywhere, and is one of the most robust banking products out there currently. Plus, the minimum requirements are super easy to meet - check it out.

Chase Business Complete Banking^® has a $15 per month fee that's easily waived if you simply do the following in the month:

• Keep a minimum daily balance of $2,000 or more in your account
• Receive $2,000 in deposits from Quick Accepts transactions or other eligible Chase Payment Solutions transactions
• $2,000 in eligible purchases from your Chase Ink Business Card
• Maintain a linked Chase Private Client Checking℠, JPMorgan Classic Checking, Private Client Checking Plus account
• Meet Chase Military Banking requirements

Bonus Offer: Right now, you can earn $300 when you open a new Chase Business Complete Checking^® account. For new Chase business checking customers with qualifying activities.

Open Chase Business Complete Banking^® 

$100 with Chase College Checking^℠

The Chase College Checking℠ account is one of the best checking accounts designed for students. Students between the ages of 17-24 don’t have to worry about maintenance fees. You can have the fee waived for up to fives years as a student. This account comes with a debit card, and you’ll have mobile access.

And right now, you can get $100 as a new Chase checking customer when you open a Chase College Checking^℠ account and complete 10 qualifying transactions within 60 days of coupon enrollment! That's awesome!

Chase College Checking℠ has no monthly service fee for up to five years if you're a student between 17 and 24.

Open a Chase College Checking℠ account here >>

$100 with Chase Secure Banking℠

The Chase Secure Banking℠ is a solid basic checking account option that doesn't do any type of credit or banking score check. It does have a monthly fee, but if you need a solid banking option, it could be worthwhile.

Chase Secure Banking℠ has a $4.95 per month fee.

Bonus: Right now, you can get up to a $100 bonus when you open an account and complete qualifying activities. That's awesome!

Open a Chase Secure Banking℠ account here >>

Mobile Banking

Like most banks, Chase offers online and mobile banking. You can do a lot of banking through the Chase mobile app.

It includes check deposits, the ability to pay your credit card, the ability to send money through Zelle, the ability to set up account alerts, the ability to find branches and ATMs, plus a lot more. The J.P. Morgan Self-Directed Investing service is also housed inside the app.

On the Apple App Store, the app has a 4.8/5 rating out of 1.7 million ratings.

Are There Any Fees?

Yes. Being a full-service bank, you're likely to encounter more fees and lower yields than an online-only bank. In addition to the minimum balance and ATM fees mentioned above, there are also the following:

• $34 for insufficient funds or overdrafts (Note that if your account if overdrawn by $50 or less at the end of the day, you will not be charged a fee. There are also no overdraft fees for charges that are $5 or less)
• $30 per stop payment request
• $12 for each deposited item or cash check returned
• $5 for express replacement of a debit or ATM card
• 3% of withdrawal amount for non-ATM cash
• 3% of withdrawal amount for foreign exchange rate adjustment

Unless you have an account that waives the fee for using non-Chase ATMs, you'll be charged $3 fee per withdrawal at a non-Chase ATM in the U.S. and the U.S. territories. $5 fee per withdrawal at a non-Chase ATM outside of the U.S. and the U.S. territories. Surcharge Fees from the ATM owner/network still apply. U.S. territories include American Samoa, Guam, the Northern Mariana Islands, Puerto Rico and the U.S. Virgin Islands.

You can read more about Chase Bank's fees here.

How Does Chase Bank Compare?

Chase Bank's defining features are its branch network and its accounts for kids and teens. But if you're looking for the highest yield or want avoid fees, you'll probably want to choose an online bank instead. Here's a quick look at how Chase compares:

How Do I Open An Account?

You can open an account online or at a branch. You’ll need the following information:

• Social Security number
• Driver’s license or state-issued ID
• Contact information

If you're opening an account for a minor, you'll need their information as well. Note that you'll need to visit a branch to open a Chase High School Checking account or a Chase College Checking account for a 17-year-old.

Is My Money Safe?

Yes. Chase deposit accounts are FDIC-insured up to $250,000 per depositor. Chase also uses bank-grade encryption.

How Do I Contact Chase Bank?

There are multiple ways to get support from Chase Bank. These options include:

• Visiting one of its 4,800+ branches in person
• Calling 1-800-935-9935 to speak with someone over the phone
• Exploring the company's many how-to videos here
• Using the Chase Digital Assistant inside the bank's mobile app to get quick answers

Like most large national banks, Chase Bank's customer service reviews online are far from adoring. Currently, Chase has a dismal 1.3/5 rating on Trustpilot. But your experience could be more positive, especially if the bankers and tellers at your local branch are happy and helpful.

Is It Worth It?

If you're looking strictly for high yields, Chase doesn’t offer anything competitive. If you want accounts that charge the fewest fees possible, Chase isn’t going to fit the bill either.

But if you need a full-service bank where you can do all of your banking, want access to branches, and have ATM locations all over the U.S., Chase is a great choice. With so many accounts at Chase, it should have something for every adult and child in your family..

Chase Bank FAQs

Let's answer a few common questions that people ask about Chase Bank:

Is Chase Bank available nationwide?

Yes, in August 2021, Chase became the first bank to have branches in all 48 states of the contiguous United States.

Does Chase Bank have Zelle?

Yes, Chase customers can send or receive money in moments and for free by accessing Zelle from right inside the Chase mobile app or on Chase.com.

Will Chase Bank exchange foreign currencies?

It's unclear if Chase offers exchange services to its personal banking customers. However, foreign exchange is included as one of its commercial banking solutions. It supports over 120 currencies and 250+ currency pairs.

Does Chase Bank have any bonus offers?

Right now, you can get $100 as a new Chase checking customer when you open a Chase College Checking^℠ account and complete 10 qualifying transactions within 60 days of coupon enrollment! 

Chase Bank Features