A brief overview of Chase

Chase is the commercial and consumer bank division within JPMorgan Chase & Co. It is one of the United States’ largest banks. It increased in size after it merged with the company JPMorgan & Co. in 2000. The financial institution holds $3.4 trillion in assets, and more than half of American households use its services. Chase has ranked

GOBankingRates among the top national and Top 100 Banks of 2022. They have also praised the bank in their Best CD Accounts, Best Checking Accounts, Best Checking Accounts, and Best Savings accounts of the 2022 annual lists.

Pros Explained

  • The wide footprint that can serve your banking requirements: Chase Bank has more than 4,700 branch locations for retail banking all across in the United States. In addition, customers can use the 16,000 Chase Bank ATMs at no additional cost. If there is a Chase Bank branch or ATM that isn’t near, customers are able to access their accounts via the internet or the mobile app.
  • The ability to eliminate monthly fees for checking accounts: Customers can waive the monthly fee for maintenance for checking accounts by doing three things such as depositing $500 to the account in that month, keeping an account with a minimum balance of the account of $1500 or having a total with an average of $5,500 for all connected Chase accounts.
  • Popular credit cards that carry prominent names: Chase has 30 credit cards to select from, including the personal ones are 26 and nine for small businesses. There is a wide range of credit cards to choose from, based on the purpose of cash back, travel rewards, and balance transfers.

Cons – Explained

  • A small number of branches in certain states some states do not receive the services of Chase Bank. For instance, four states — Iowa, Mississippi, Vermont, and Wyoming have only two branches, whereas Alaska does not have any.
  • The minimum balance for a day is required to reduce costs: One option to reduce fees is to keep the minimum balance of your bank account before the start of every day. This can be more difficult to attain than current average balance. If your balance is lower than this amount for a day within your month, then you could get charged the month-long charge.
  • 5/24 Credit card rule: Chase Bank has unwritten rules regarding credit card approvals which is among the strictest in the business. If you’ve had more than five new credit card accounts from any bank within the last 24 months, you’ll have to wait for approval on most of the credit cards it offers.

Chase Product Details

This is a more thorough review of the different offerings offered by Chase.

Chase Checking Accounts

Chase offers eight options for checking accounts, which are that are divided into three categories: Premium, Everyday and Kids and Students. Here are the specifics.

Chase Total Checking

While Chase Total Checking is a basic account that doesn’t have any features It was recognized as one of the Top Checking Accounts in 2022 by GOBankingRates their annual ranking. If it’s not enough to convince you to make you want to sign up, Chase ranks it as the most popular account due to the fact that it offers the banking features you require, such as autosave features and no fees for overdrafts when you’ve not overdrawn by $50 or less at the end of your business day. It does come with the cost of a service fee of $12 per month however, it’s waived with the balance at the beginning of the day of $1500 and regular direct deposits that total $500 or more or an average starting day balance of at least $5,000 in combination with other accounts that are eligible.

Chase Secure Banking

Chase Secure Banking is a simple checking account with an annual monthly fixed $4.95 monthly service charge. In addition, you won’t need to worry about the possibility of overdrafts as Chase will either decline or refund any purchase that is greater than the amount. In the event that for some reason you end up with an unpaid amount, the bank will not charge an overdraft cost.

Chase Premier Plus Checking

Chase Premier Plus Checking is an interest-earning check account that provides breaks on ATM fees as well as savings on cashier’s checks and other products. It comes with a monthly service charge that is waived when you have an average balance at the beginning of each day of $15,000 when combined with the event of any mix of, qualifying accounts or a linked eligible Chase first mortgage that is included in automatic payments through the Chase account.

Other advantages of this account include no fees for overdrafts in the event that you’re a little overdrawn, less than $50 by the end of your working day, and the waiver of non-Chase ATM charges up to four times during a statement period. Additionally, the service fee is waived for any connected Chase personal savings account or more than the amount of two Chase Premier Plus Checking accounts. In addition the account is qualified for the benefit of free Chase checks with designs.

Chase Sapphire Banking

Chase Sapphire Banking can be described as an elite account which earns interest, and eliminates any non-Chase ATM fees as well as fees on various other bank services, and provides a 24/7 bank service line. There is a monthly service charge, which is waived when you have an average day amount of more than $75,000 with any combination of this account as well as connected accounts with qualifying balances. It also has more limitations in Chase QuickDeposit and Zelle, more daily limit on purchases, ATM withdrawal limits as well as the ability to receive free Chase designs checks.