Chase Bank

Overview / Commentary

www.chase.com

877-682-4273

1111 Polaris Parkway
Columbus, OH 43240

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.

BIG, BIG Win For The Big Banks - They Can Resume Buying Back Their Own Stock - 12/22/2020

As always, great news for investors but not for savers. This move obviously benefits ALL big banks, not just JPM. Nine months ago, the Federal Reserve put the kibosh on banks being able to buy back their own stock or increase dividends. The move was part of a design to ensure that the big banks had enough liquidity during what the government predicted would be a trying time for the economy The Fed rewarded the big banks yesterday, allowing these lenders to resume stock repurchases, beginning in the first quarter. After the announcement, Chase and BAC shares both jumped 4% while Goldman Sachs soared more than 6%. https://www.foxbusiness.com/markets/banks-buy-back-stock-federal-reserve

Chase Private Client $2000 Bonus - 11/27/2020

Chase Bank is offering a $2000 bonus if you keep $250,000 in a Private Client account for 90 days. This is like a 3-month CD with an interest rate of approx. 2.5%. (Chase Private Client bonus): https://account.chase.com/consumer/banking/chaseprivateclient?jp_cmp=rb/CPC+Brand_Brand_BMM_CPC_SEM_IFP_DeskTab_Standard/sea/p47263267897/Brand+Offers&gclsrc=aw.ds&&gclid=CjwKCAiA5IL-BRAzEiwA0lcWYh3Syfx7ZtIQlIenqn9EBrYWhpt7Y-SefOd6R0XissF8JiM7Se5ZoxoC24kQAvD_BwE

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12/22 - BIG, BIG Win For The Big Banks - They Can Resume Buying Back Their Own Stock
11/27 - Chase Private Client $2000 Bonus
1/2 - Chase Offering $1000 Bonus For Opening/Upgrading To Sapphire Banking With $75K

11/29 - $225 Bonus To Open A Savings Account With $15,000 New Money Held For 90 Days
10/19 - Chase 5% Cash Back Catagories Oct To Dec
9/13 - Chase Expanding It's Footprint Into DC/MD/VA

5/15 - Chase Short Term 1.50% -> 3.05% Callable Step-Up CD Via TD Ameritrade
3/20 - $300 Bonus - Chase Premier Plus Checking

Reviews (238)

Pleasant Surprise...

Posted by: JeffinEasternFL | Oct 9, 2020

Close relative who was unbanked had just been approved for SSI and she needed a national bank ( I would have preferred a local or regional bank with lesser fees and ATM rebates) for moderate use and an ongoing low average balance and at "NO Cost" with the following minimum needs: a simple "free" checking account with a "no overdraft" debit card, an easy to use web portal that includes free bill pay (since account includes NO paper checks), online balance/deposit alerts, a good number of branches with ATMs and free counter/branch walk in service. Chase appeared to be best of the "monster megabanks" as I agonized past Wells Fargo, BofA, et all. Signed her up online with the SSI direct deposit and a no fee checking account. The online portal works nice, bill pay works easily enough, just 10 days after first SSI deposit - she got a $200 bonus deposited! No hold on SSI funds! Only negatives so far are: there are no fee waivers for non Chase ATM fees, ya gotta use a Chase ATM for the "free" ATM access and no interest is paid on the account - though in this low rate environment, and with the ongoing low balance it doesn't matter! Additional fees are high "if" you need/do something not included in the "package" or overdraft the account but, thankfully the ability to DECLINE costly Debit Card Over Draft protection is easily done! Local branch tellers are friendly and have accessible hours. Their ATM works. Will post if any negatives happen but, so far a surprise with 4+ stars!

Comment

Decent National Bank but Horrible Customer Service

Posted by: nakishawolf | Mar 15, 2017

I have been banking with Chase Bank for the past 6 years. I was originally requested to open and savings and checking about by a chase mailer that offered me $100 reward. The $100 was for opening a savings account that held at least $500, and a checking account that had direct deposit set up for 3 consecutive months. The requirements seemed doable so I opened the accounts and was happy with my banking experience at first. About a year later I received another promotional flyer that offered $500 on a 1 year $10,000 CD. I thought this return was too good to be true so I took the flyer into my nearest branch location and they confirmed the promotion. That same day I deposited $10,000 and took out a 1 year CD with Chase. After the year was complete and the CD period ended, the $500 promotion was deposited into my account and I decided I could get a better return on the initial $10,000 at another bank. So I went into the branch location to withdraw the money and it was nearly impossible. I understand they need to take safety precautions, but they asked me repeatedly if I was in trouble, if someone was forcing me to withdraw this money, and then refused to give me my money. At that point I was pretty upset, I didn't feel it was right for the bank to hold my money hostage. They called the branch manager in and she took me into a back room and made me explain in detail why I wanted to withdraw my money. She then made me sign extra paperwork confirming I was withdrawing the money. At this point the bank had made me feel like I was a criminal just because I wanted to withdraw my own money from their bank. From that day forward I have not opened any other CDs with Chase, nor do I keep large amounts of money in either of my savings or checking accounts. I don't trust them anymore.

Chase Bank Had Major IT Problems

Posted by: Albova | Jun 12, 2021

Chase online business banking ACCOUNT MANAGEMENT has been down a month and they can’t seem to fix it!

Comment

Great Bank. Wish They Had More Branches Though.

Posted by: BGraham16 | Dec 19, 2020

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).

Comment

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Health

Data as of Q1 2021

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	628
Year Established	1824
Employees	199840
Primary Regulator	OCC

Profit Margin
Return on Assets - YTD	1.41%
Return on Equity - YTD	16.1%
Annual Interest Income	$13.22B

Assets and Liabilities
Assets	Q1 2021vs Q1 2020	$3,207.5B$2,691B
Loans	Q1 2021vs Q1 2020	$1,004.1B$996.2B
Deposits	Q1 2021vs Q1 2020	$2,374.3B$1,904.2B
Equity Capital	Q1 2021vs Q1 2020	$277.4B$243.5B
Loan Loss Allowance	Q1 2021vs Q1 2020	$22.99B$23.24B
Unbacked Noncurrent Loans	Q1 2021vs Q1 2020	$10.87B$7.53B
Real Estate Owned	Q1 2021vs Q1 2020	$245.0MM$351.0MM

Rates

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Checking
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Always verify rates and promotions with the bank or credit union. We are not Chase Bank; we are a rate comparison website and cannot provide official rates or promotions.

* 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.

Chase Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.05%^*^†	$250k^*	$500k	Chase Premier Savings - Relationship
OTHER TIERS: 0.02% → Up to $50k \| 0.03% → $50k - $100k \| 0.04% → $100k - $250k
0.05%^*	$250k^*	-	Chase Private Client Savings - Relationship
OTHER TIERS: 0.02% → Up to $50k \| 0.03% → $50k - $100k \| 0.04% → $100k - $250k
0.05%^*	$1m^*	-	Chase Private Client Savings - Standard
OTHER TIERS: 0.01% → Up to $1m
0.01%^†	-	$500k	Chase Premier Savings - Standard
0.01%^†	-	-	Chase Savings (SM)

Chase Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.01%^†	-	-	Chase Premier Plus Checking
0.01%^†	-	-	Chase Sapphire Checking
0.01%^†	-	-	Chase Private Client Checking
0.00%^†	-	-	Business Checking
0.00%^†	-	-	Chase Total Checking®
0.00%^†	-	-	Chase Business Complete Banking

Chase Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
0.05%^*^†	$10k^*	-	6-8 Month CD - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	9-11 Month CD - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	12-14 Month CD - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	24-29 Month CD - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	30-35 Month CD - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	48-83Month CD - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	84-120 Month CD - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	21-23 Month CD - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	36-41 Month CD - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	15 - 17 Month CD - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	18-20 Month CD-Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	42-47 Month CD - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.02%^†	$1k	-	1 - 2 Month CD - Relationship
0.02%^†	$1k	-	3-5 Month CD - Relationship
0.01%^†	$1k	$100k	1 - 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	$100k	24-29 Month CD - Standard
0.01%^†	$1k	$100k	30-35 Month CD - Standard
0.01%^†	$1k	$100k	48-83 Month CD - Standard
0.01%^†	$1k	$100k	84-120 Month CD - Standard
0.01%^†	$1k	$100k	21-23 Month CD - Standard
0.01%^†	$1k	-	36-41 Month CD - Standard
0.01%^†	$1k	-	15 - 17 Month CD - Standard
0.01%^†	$1k	-	18-20 Month CD-Standard
0.01%^†	$1k	-	42-47 Month CD - Standard

Chase Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
0.05%^*^†	$10k^*	-	6-8 Month IRA - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	9-11 Month IRA - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	12-14 Month IRA - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	24-29 Month IRA - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	30-35 Month IRA - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	48-83 Month IRA - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	84-120 Month IRA - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	21-23 Month IRA - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	36-41 Month IRA - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	15 - 17 Month IRA - Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$10k^*	-	18-20 Month IRA-Relationship
OTHER TIERS: 0.02% → $1k - $10k
0.05%^*^†	$1k^*	$100k	42-47 Month IRA - Relationship
OTHER TIERS: 0.01% → $100k+
0.02%^†	$1k	-	3-5 Month IRA - Relationship
0.02%^†	$1k	-	42 - 47 Month IRA - Standard
0.02%^†	$1k	-	1 - 2 Month IRA - Relationship
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	$100k	24-29 Month IRA - Standard
0.01%^†	$1k	$100k	30-35 Month IRA - Standard
0.01%^†	$1k	$100k	48-83 Month IRA - Standard
0.01%^†	$1k	$100k	84-120 Month IRA - Standard
0.01%^†	$1k	$100k	21-23 Month IRA - Standard
0.01%^†	$1k	-	36-41 Month IRA - Standard
0.01%^†	$1k	-	15 - 17 Month IRA - Standard
0.01%^†	$1k	-	18-20 Month IRA-Standard
0.01%^†	$1k	$100k	1 - 2 Month IRA - Standard