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. Chase Savings (SM) also come with a monthly service charge, but can be avoided by meeting minimum daily balance requirements. For the basic Chase Savings (SM) 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.
Really like their mobile app, online experience, and credit cards. Wish they had more branches in my area though (or at least lower ATM fees).
Can't say I'd want to have business accounts with them though. They tend to mainly care about their BIG customers, in that regard (can't blame them though/that's what all the big banks do).
A friend recently got approved for SSI and needed a nationwide bank (so as to transfer if needed $$ with parents who don't mobile nor online bank). Chose Chase since in both her parents area (northwest) and her home (Florida), there are many branches. Needed: 1) a NO FEE basic "checking account" with simple mobile/online banking and alerts. I opened online w/o issue and included Social Security Direct Deposit info. 2) Got a debit card WITHOUT OVERDRAFT PROTECTION that would simply decline purchases if funds weren't available. Thus, no overdraft "fees". 3) Then, went to a branch to interact with humans and instructed her for using ONLY an INSIDE BRANCH ATM at a CHASE BRANCH w/ assistance if needed - it worked fine. Receipts were issued promptly and were concise. Online banking bill pay was flawless, simple and paid fast. Note: Chase has removed "tellers and their cash drawer" at many branches but, still have in person support with a "teller/clerk" to assist (w/ less services of course) at the inside ATM. A few branches do have tellers and cash and I hope that remains. Summary: Got a simple NO fee(s) "checking" account w/ direct deposit, (no checks but, teller checks available), with free mobile/online banking, NO overdraft protection (thus no fees) for debit card and human as well as telephone support locally. They paid the $200 bonus as described too (nice since account has no "interest"). Cash deposits have had No problems. Non account holders can not deposit cash but, money orders -which is ok though inconvenient but, becoming the rule of law in banking. Lost ATM cards have to be ordered by mail, can't get even a temporary one at a branch though. Teller checks were easy when needed once. Otherwise, I'd first consider a solid local/regional bank with better incentives and lower fees instead but, due to situ she had to have a national bank. Chase worked. The account options and descriptions were clear and concise. The fees were none for a basic account w/o overdraft and service was fine. If you have to have a national monster mega bank and need a simple but, effective "checking" account w/o cost, but, with branches and human support, Chase is an option. Far better choice than an online only fintech or banks w/ problems we often read about here!
Chase over all is one of the worst customer experiences I have. Due to my balances being a certain amount, they are always
having personal bankers call me, to try and sell me bad investments to they can get some commission. I frequently visit
3 possible banks, all of which have employees that know me for years. One time they had some new person hijack me inline
and try to get me to take a home equity line. I have my house paid off and enough in my accounts to cover any emergency.
And then the guy insults my intelligence by implying I am foolish for not taking out a loan. Now they are requiring me to show
and ID when I make a cash deposit, and writing down my license number. Lastly they are consistently the worse for interest rates on CDs.
I signed up for a new checking account and set up my direct deposit so my first paycheck would go to the new account and transferred $1500 (required minimum balance to avoid service charges) to the account. As soon as my first paycheck was deposited I attempted to logon to my account. It was suspended for suspicious activity. I was on hold for over an hour trying to get through to customer service. I had to verify my name, SSN, Social, drivers license, data of birth, birth date of my wife, UNBELIEVABLE! It took 3 calls, as I kept getting disconnected in the voicemail deathtrap. The issue is still not resolved as I got disconnected a 3rd time while they where verifying my account. A 4th call back found the service center now closed..... As soon as I can get into this account... it's closed!
Overall | |
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FDIC Certificate # | 628 |
Year Established | 1824 |
Employees | 197936 |
Primary Regulator | OCC |
Profit Margin | |
---|---|
Return on Assets - YTD | 0.77% |
Return on Equity - YTD | 8.26% |
Annual Interest Income | $59.29B |
Assets and Liabilities | ||
---|---|---|
Assets | Q4 2020vs Q4 2019 | $3,025.3B$2,337.6B |
Loans | Q4 2020vs Q4 2019 | $995.4B$950B |
Deposits | Q4 2020vs Q4 2019 | $2,253.5B$1,650.5B |
Equity Capital | Q4 2020vs Q4 2019 | $270.1B$246.1B |
Loan Loss Allowance | Q4 2020vs Q4 2019 | $28.32B$13.11B |
Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $11.82B$6.60B |
Real Estate Owned | Q4 2020vs Q4 2019 | $251.0MM$335.0MM |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.