Chase Bank is one of the largest banks in the United States as measured by total assets. It offers personal, business, and commercial banking products and services on both the depository and lending side. Chase has made strides to become an industry leader in customer service, with hundreds of thousands employees all over the world.
Chase Bank’s checking account offerings all have monthly service charges that can be waived if certain requirements are met. One checking account offers a certain number of non-Chase ATM transaction fee refunds. Savings accounts also come with a monthly service charge, but can be avoided by meeting minimum daily balance requirements. For the basic savings account, consumers under the age of 18 automatically avoid the monthly service charge. The bank also offers certificates of deposit (CDs) that reward higher account balances with higher interest rates. CDs can be opened online and range in term lengths from 1 to 120 months. Chase offers business and commercial banking solutions, as well as an array of credit cards.
Chase Bank online banking provides customers with free account management functions like online bill pay, paperless statements, mobile deposit, and fund transfers. Chase’s mobile banking apps are highly rated and offer a sophisticated platform from which customers can accomplish account management tasks easily on the go. Each app is specifically designed for different operating systems like iPhone, Android, and Windows, as well as tablet devices. Chase’s website is easy to maneuver and provides comprehensive information about bank and account information.
Chase Bank was originally established in 1982 as The Chase Manhattan Bank (USA). In 1996 it changed its organization type with the FDIC to a credit card bank, and in 2000 acquired JPMorgan, a financial services company. A year later the bank moved its headquarters to Newark, Delaware, where they remain today. In 2005, the bank changed its name to Chase Bank USA, and four years later acquired Bear Stearns and Washington Mutual.
We have a family owned company, that had accounts at Chase. When the family member that was running the company passed away, Chase refused to give the business, the surviving owners, access to our accounts. 18 Months later and after several discussions with lawyers and the Office of the Comptroller of the Currency, we were able to regain control of our assets. However, during the period of time when the accounts were locked down, Chase continued to service charge the account, essentially stealing money. Is this the kind of 'trusted' institution you want in control of your money?
Anyone ever notice Chase's strategy in getting new customers? By offering straight up cash! I lost track of all the offers saying they would pay me $125 if I got their checking or savings account. Doesn't that sound a little strange? Seriously, they have to PAY PEOPLE to USE their SERVICES!
Other banks advertise great rates that will keep working for you. Chase lures people in with one time cash and then makes money off that customer for the long term. Chase doesn't advertise rates because it's rates are 10 X below the national average. You can't compare Chase and Ally because their business model is quite different. I prefer banks with high interest rates. I have used Chase for other purposes other than banking and they have been decent. I have a mortgage with them and they did sufficient. I am just saying that for banking purposes, I would suggest someone else.
I really liked reading one of the most thorough articles on Chase,
check out the Chase Bank Review at BankTruth.org.
I had a checking and savings account with Chase for one month. While I was out of town, Chase closed both accounts and sent me a check in the mail, with no explanation. I have three credit cards and a mortgage with Chase, so when I investigated this major error, I was told that they could not verify my address. They said that they needed a copy of a utility bill with my name on it. Well, all of our utility accounts have my husband's name on them, so I did not have one. When asked why they could not verify my address from my mortgage, they said that they still needed a utility bill.
Well, when I got back into town, I went to the branch and they apologized profusely and were extremely conciliatory. They did their best to remedy the situation, but the meantime, in order to have "free" checking, I had to jump through hoops and transfer money in, etc. So I did.
Now that everything has settled down, I am closing my checking and savings accounts with them; not only for spite, but also on principle (like my checking and savings account balances really matter).
I have been a customer with this bank for over 5 years. I had 3 accounts opened here. Up until about a few months ago, it was the only bank I used. About two weeks ago, I connected my credit union account to my checking's account at Chase so I could transfer money to it without having to go to the bank every week. Today, I sent my daughter to the grocery store with my card as I always do, and it was declined. I was sure she had entered the wrong pin or something so I called the bank to get the account unlocked. They informed me that they decided to close my account after reviewing it for security reasons! Security reasons? I've never reported fraudulent activities and they could not give me one good reason why they were closing my account! To add insult to injury, they immediately blocked online access to my account and told me that they would send any money's that are in my account within 10 business days of the last transaction on the account. So not only did they close my account for no reason ( I didn't have overdrafts nor declined payments), but they will be holding my funds hostage until they are ready to release them! I have never felt so betrayed by a business before in my life! I will tell everyone I can not to EVER open an account with Chase Bank!!!
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Chase Manhattan Bank had $15.32 billion in non-current loans and owned real-estate with $186.48 billion in equity and loan loss allowances on hand to cover it. This gives Chase Manhattan Bank a Texas Ratio of 8.22% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Chase Manhattan Bank decreased dramatically from 14.81% as of March 31, 2013 to 8.22% as of March 31, 2014, resulting in a positive change of 44.53%.This indicates that the balance sheet and financial strength for Chase Manhattan Bank has improved dramatically in recent periods.
In the past year, Chase Manhattan Bank has increased its total deposits by $55.47 billion, resulting in 4.34% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Chase Manhattan Bank has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Chase Manhattan Bank has $1970.45 billion in assets with $186.48 billion in equity, resulting in a capitalization level of 9.46%, which is average.
|FDIC Certificate #||628|
|Assets and Liabilities|
|Equity Capital||$173.59 billion|
|Loan Loss Allowance||$12.88 billion|
|Unbacked Noncurrent Loans||$12.57 billion|
|Real Estate Owned||$2.75 billion|
|Historic Data - March 2013|
|Equity Capital||$149.61 billion|
|Loan Loss Allowance||$16.40 billion|
|Unbacked Noncurrent Loans||$12.57 billion|
|Real Estate Owned||$2.29 billion|
|Profit Margin - Quarterly|
|Net Interest Margin||1.95%|
|Return on Assets||0.67%|
|Return on Equity||7.6%|
|Interest Income||$9.46 billion|
Always verify rates and promotions with the bank or credit union. We are not Chase Manhattan Bank, we are a rate comparison website and can not provide official rates or promotions.
|0.10%||$1m||-||Chase Plus Savings - Standard|
|0.10%||$250k||-||Chase Plus Savings - Relationship|
|0.01%||-||-||Chase Retirement Money Market Account|
|0.01%||-||-||Chase Premier Platinum Checking|
|0.01%||-||-||Chase Premier Plus Checking|
|1.05%||$100k||-||120 Month CD Special - Relationship|
|0.70%||$1k||-||120 Month CD Special - Standard|
|0.60%||$100k||-||60-83 Month CD - Relationship|
|0.60%||$100k||-||84-119 Month CD - Relationship|
|0.50%||$100k||-||42-47 Month CD Special- Relationship|
|0.50%||$100k||-||48-59 Month CD - Relationship|
|0.40%||$100k||-||36-41 Month CD - Relationship|
|0.30%||$100k||-||18-20 Month CD Special - Relationship|
|0.30%||$100k||-||24-29 Month CD - Relationship|
|0.30%||$100k||-||30-35 Month CD - Relationship|
|0.30%||$100k||-||21-23 Month CD - Relationship|
|0.25%||$1k||$100k||60-83 Month CD - Standard|
|0.25%||$1k||$100k||84-119 Month CD - Standard|
|0.10%||$1k||$100k||42-47 Month CD Special - Standard|
|0.10%||$1k||$100k||48-59 Month CD - Standard|
|0.05%||$100k||-||12-14 Month CD - Relationship|
|0.05%||$1k||$100k||18-20 Month CD Special - Standard|
|0.05%||$1k||$100k||24-29 Month CD - Standard|
|0.05%||$1k||$100k||30-35 Month CD - Standard|
|0.05%||$1k||$100k||21-23 Month CD - Standard|
|0.05%||$1k||-||36-41 Month CD - Standard|
|0.05%||$100k||-||15 - 17 Month CD - Relationship|
|0.02%||$1k||-||1 Month CD - Relationship|
|0.02%||$1k||-||2 Month CD - Relationship|
|0.02%||$1k||-||3-5 Month CD - Relationship|
|0.02%||$1k||-||6-8 Month CD - Relationship|
|0.02%||$1k||-||9-11 Month CD - Relationship|
|0.01%||$1k||$100k||1 Month CD - Standard|
|0.01%||$1k||$100k||2 Month CD - Standard|
|0.01%||$1k||$100k||3-5 Month CD - Standard|
|0.01%||$1k||$100k||6-8 Month CD - Standard|
|0.01%||$1k||$100k||9-11 Month CD - Standard|
|0.01%||$1k||$100k||12-14 Month CD - Standard|
|0.01%||$1k||-||15 - 17 Month CD - Standard|
|1.05%||$100k||-||120 Month IRA Special - Relationship|
|0.70%||$1k||-||120 Month IRA Special - Standard|
|0.60%||$100k||-||60-83 Month IRA - Relationship|
|0.60%||$100k||-||84-119 Month IRA - Relationship|
|0.50%||$100k||-||42-47 Month IRA Special - Relationship|
|0.50%||$100k||-||48-59 Month IRA - Relationship|
|0.40%||$100k||-||36-41 Month IRA - Relationship|
|0.30%||$100k||-||18-20 Month IRA Special - Relationship|
|0.30%||$100k||-||24-29 Month IRA - Relationship|
|0.30%||$100k||-||30-35 Month IRA - Relationship|
|0.30%||$100k||-||21-23 Month IRA - Relationship|
|0.25%||$1k||$100k||60-83 Month IRA - Standard|
|0.25%||$1k||$100k||84-119 Month IRA - Standard|
|0.10%||$1k||$100k||42-47 Month IRA Special - Standard|
|0.10%||$1k||$100k||48-59 Month IRA - Standard|
|0.05%||$100k||-||12-14 Month IRA - Relationship|
|0.05%||$1k||$100k||18-20 Month IRA Special - Standard|
|0.05%||$1k||$100k||24-29 Month IRA - Standard|
|0.05%||$1k||$100k||30-35 Month IRA - Standard|
|0.05%||$1k||$100k||21-23 Month IRA - Standard|
|0.05%||$1k||-||21-23 Month Roth IRA - Standard|
|0.05%||$1k||-||21-23 Month SEP IRA - Standard|
|0.05%||$1k||-||36-41 Month IRA - Standard|
|0.05%||$100k||-||15 - 17 Month IRA - Relationship|
|0.02%||$1k||-||1 Month IRA - Relationship|
|0.02%||$1k||-||2 Month IRA - Relationship|
|0.02%||$1k||-||3-5 Month IRA - Relationship|
|0.02%||$1k||-||6-8 Month IRA - Relationship|
|0.02%||$1k||-||9-11 Month IRA - Relationship|
|0.01%||$1k||$100k||1 Month IRA - Standard|
|0.01%||$1k||$100k||2 Month IRA - Standard|
|0.01%||$1k||$100k||3-5 Month IRA - Standard|
|0.01%||$1k||$100k||6-8 Month IRA - Standard|
|0.01%||$1k||$100k||9-11 Month IRA - Standard|
|0.01%||$1k||$100k||12-14 Month IRA - Standard|
|0.01%||$1k||-||15 - 17 Month IRA - Standard|