Written by Theresa Stevens, Updated on 12/20/2024
Chase is the U.S. consumer and commercial banking business of J.P. Morgan Chase & Co., a leading global financial services firm with more than $2.6 trillion in assets. The New York City-based bank offers a wide array of personal, business and commercial banking products and services on both the depository and lending side of its operations.
The bank is also an industry leader in accessibility and customer service, with more than 4,700 branches and more than 15,000 ATMs across the country.
Consumers will find a variety of choices for checking and savings accounts as well as CDs. The bank’s website will allow you to compare your options. Choose from Total Checking, Secure Banking or Premier Plus Checking accounts; each has a monthly service fee that can be avoided with qualifying activities, such as receiving direct deposits of certain amounts.
Chase offers two types of savings accounts: Premier and Private Client accounts. Earn a special relationship rate and avoid a monthly fee when you link your Premier account to a Chase Premier Plus Checking or Chase Sapphire Banking account. You can also avoid the fee by maintaining a minimum daily account balance of $15,000. If you have a Chase Private Client Checking account, link a Chase Private Client Savings account to earn a relationship rate with no monthly fee.
Savings accounts earn an annual percentage yield (APY) of 0.01%, which is much lower than most high-yield savings accounts. Relationship rates jump only to 0.02%.
Certificates of deposit (CDs) with guaranteed rates are available for terms ranging from one month to 10 years. Chase CDs require a $1,000 minimum deposit. Relationship rates are available to customers with linked personal checking accounts. Early withdrawal penalties may apply if you need access to your money before your CD’s maturity date.
Chase provides online and mobile banking with conveniences such as online bill pay, mobile check deposit and the digital payment service Zelle for sending and receiving money from family members and friends. The Chase app is available for both Apple and Android devices. It has a 4.8 rating out of 5 on the App Store and 4.4 out of 5 on Google Play.
Pros and cons of Chase Bank
Pros:
• Access to thousands of branches and ATMs
• Variety of financial products
• Highly rated mobile app
Cons:
• Fairly low APYs on savings accounts and CDs
• $34 overdraft fee
• Monthly fees on accounts if you don’t qualify for waivers
Best Bank Ever!
Only great experiences with Chase bank. The branch in San Juan Capo CA is exceptional. All the people there go above and beyond to help! Like everything in life it's about who you know and what kind of relationship you have with them. Having said that we've had Chase cards for decades and the few minor chargebacks over the years have been resolved in our favor. I cannot say enough good things about Chase. Also we got $1200 in bonuses for opening bank accounts with them in 2023!
Helpful Hint?
Called to close my checking account because I grew tired of Chase wanting to charge me for the privilege of using my money and deigned to pick the call-back option because of the long waiting time. I did get the call back, from obviously India, and was told they had to transfer my call to someone who could help me. Alrighty then. Took me a few minutes to foolishly realize I had been hung up on, silly me. Called again, but this time decided to stay on line in the queue. Didn't take too terribly long, understood the voice, and got the account closed with little trouble after doing my own transfer to a linked account. So, if you are going to close an account, best stay on the call and have a linked account already, else they can only mail you a check.
Customer Service Issues
I have been a Chase customer since 2007, but I am having some serious doubts about their contractors for customer service. I have encountered service reps that I could not understand because of rapid heavy accented speech, and questionable English comprehension. I have lost confidence in their ability to provide the best customer support. I am looking to switch to a better bank. Their one bright spot is no checking account fee for maintaining direct deposit balance over many years.
Chase Is So Tiresome
I became a Chase customer when they absorbed my branch, so not by choice. I kept $1500 in my emergency fund in their checking account to avoid their usurious $12 fee and also to have an fast dumping ground in case another of my banks (not too big to not be bailed out) went belly up again, and left it alone. At first chance they seized the account for lack of use and I had to do a bunch of paperwork to get my account back. Thereafter I'd do a $.02 transfer twice a year. Finally I decided to close this silly account and had no problem doing so. My bad is I didn't think they would immediately remove access to documents and statements. I can still sign on and luckily can re-build externally what I need to have, but I'm posting this to forewarn anyone else closing a Chase account.
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 628 |
| Year Established | 1824 |
| Employees | 228098 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.5% |
| Return on Equity - YTD | 16.95% |
| Annual Interest Income | $169.9B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $3,459.3B$3,395.1B |
| Loans | Q4 2024vs Q4 2023 | $1,335.6B$1,308.7B |
| Deposits | Q4 2024vs Q4 2023 | $2,517B$2,498.2B |
| Equity Capital | Q4 2024vs Q4 2023 | $312.8B$299.3B |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $24.32B$22.34B |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $11.66B$9.23B |
| Real Estate Owned | Q4 2024vs Q4 2023 | $267MM$282MM |
