Headquartered in New York, Chase began its financial operations as JP Morgan Chase in 1799 and has grown to be one of the largest banks in the United States. Chase Bank ranked high in the J.D. Power U.S. Retail Banking Satisfaction Study in 2023 and has a highly-rated mobile app, giving you access to online banking any time. Chase Bank is suitable for any individual, small business, or corporation, with over 4,700 branches across the lower 48 states and outside the country, 15,000 ATMs, and several savings, checking, and certificate of deposit (CD) options. However, its interest rates are not the best—often even lower than the national average.
Note that all rates and fees are current as of May 1, 2024, and are subject to change.
Chase Bank
| Checking accounts: | Up to $300 opening bonus |
| Savings accounts: | No minimum deposit |
| CD rates: | Earn up to 4.50% annual percentage yield (APY) |
Pros
- Network of 4,700 branches and 15,000 ATMs
- Mobile app is consistently rated high
- 15+ CD terms available
Cons
- Interest rates and APYs are below the national average
- No money market accounts (MMAs)
Chase Bank is good for those seeking a bank with ample banking services, accounts, and physical locations, who have enough balance to avoid monthly service fees, or don’t require high interest on their savings.
If you’re looking for a bank with high-yield savings that doesn’t require paying fees for its services or withdrawals after using the ATM a few times within a month, consider using another bank.
Chase Bank rates and products
Chase offers new customers several options of checking accounts, savings accounts, and CD terms. Money markets are missing, but you’ll earn interest and APYs on most of the accounts.
| Chase Bank product | APY |
| Checking accounts | 0.00% |
| Savings accounts | Variable based on daily balance |
| CDs | 0.01 |
Checking accounts
Chase offers several checking accounts, from everyday and premium accounts to business accounts and those for kids, teenagers, students, and private clients. While they’re not free checking accounts, service fee waivers are available for specific account holders due to their age, bank balance, or military background.
Chase Bank checking account features
| Account opening bonus | $300 |
| Minimum opening deposit | $0 |
| Monthly fees | $12 |
| Top APY | 0.00% |
Chase Total Checking
- Opening bonus: $300 (expires April 17, 2024)
- Monthly service fee: $12; $0 for eligible accounts
- Autosave: Available
- Standard interest rate: None
- APY: None
- Use of non-Chase ATM: $3–$5 per transaction
- Money order fee: $5
- Overdraft assist: Available for up to $50
- Overdraft: $34 per item, maximum of three per day
- Foreign currency: 3% of transaction
Chase Secure Banking
- Opening bonus: $100
- Monthly service fee: $4.95
- Autosave: Unavailable
- Standard interest rate: None
- APY: None
- Use of non-Chase ATM: $3–$5
- Paper checks: Unavailable
- Cashier’s check: $0
- Money order fee: None
- Overdraft services: Unavailable
- Direct deposit: Within two days
- Safety deposit box: Unavailable
- Foreign currency: 3% of transaction
Chase Premier Plus Checking
- Opening bonus: None
- Monthly service fee: $25; $0 for eligible accounts
- Autosave: Available
- Standard interest rate: 0.01%
- APY: 0.01%
- Use of non-Chase ATM: $0 for up to four transactions per month; $5 afterward
- Paper checks: Available for free
- Cashier’s check: $0
- Money order fee: None
- Overdraft assist: Available for up to $50
- Overdrafts: $34 per item, maximum of three per day
- Foreign currency: 3% of transaction
Chase Sapphire Checking
- Opening bonus: None
- Monthly service fee: $25; $0 for eligible accounts
- Autosave: Available
- Standard interest rate: 0.01%
- APY: 0.01%
- Use of non-Chase ATM: $0
- Foreign currency fee: None
- Money orders: $0
- Checks: Free Chase design checks
- Cashier’s check: Available for free
- Overdraft fees: $0, up to four times a year
- Stop payment fee: None
- Debit card replacement: Available for free
- Dedicated banker: None
- Business banking advisor: None
- Discounts on home and auto loans: None
Chase Private Client checking
- Monthly service fee: $35; $0 for eligible accounts
- Standard interest rate: 0.01% on any balance
- APY: 0.01% on any balance
- Use of Non-Chase ATM: $0
- Foreign currency fee: None
- Money orders: $0
- Checks: Free personal design checks
- Cashier’s check: Available for free
- Autosave: Available
- Overdraft fees: $0, up to four times a year
- Stop payment fee: None
- Debit card replacement: Available for free
- Dedicated banker: Available
- Business banking advisor: Available
- Discounts on home and auto loans: Available
Chase Bank offers more checking account options, including Chase College Checking for college students aged 17 to 24, Chase High School Checking for ages 13 to 17, and parent-owned Chase First Banking account for children between 6 and 17.
Insight from Jess Pingrey, Fortune contributor
“When I set up my first account for reimbursed business travel expenses, Chase was the ideal choice because it offered a great integration for tracking my receipts and made submitting expense reports simple. I didn’t have to manage paper receipts, and the choice of rewards as cash back to my checking account was just what I needed.”
Savings accounts
Chase offers two traditional savings accounts, which yield extremely low interest compared to other banks with high-yield savings accounts.
Savings account features
| Minimum opening deposit | $0 |
| Monthly fees | $5–$25 |
| Interest rates | Variable based on daily balance; likely not more than 0.02% |
| Waivers | $0 monthly service fee for $300 minimum daily balance, $25 in Autosave or automated transfers, linked checking accounts, and account holders below 18 |
Chase Savings
- Monthly service fee: $5; $0 for eligible accounts
- Autosave: Available
- APY: 0.01%
- Standard interest rate: None
- Relationship interest rate: None
- Relationship APY: None
- Use of Non-Chase ATMs: $3–$5
- Wire transfer fee: $0–$50
- Money order: $5
Chase Premier Savings
- Monthly service fee: $25; $0 for eligible accounts
- Autosave: Available
- APY: 0.01%
- Standard interest rate: 0.01%
- Relationship interest rate: 0.02%
- Relationship APY: 0.02%
- Use of Non-Chase ATMs: $0
- Wire transfer fee: $0–$50
- Money order: $5
Chase Bank savings rates compared to current top rates*
Certificates of Deposit (CDs)
Chase Bank offers several CD term lengths, from one month to 10 years. However, they don't provide the best CD rates. The minimum deposit requirement is high yet the CD rates are low. There's also an early withdrawal penalty for withdrawing before your CD term expires, but the rate depends on your term length.
Chase Bank CDs have a standard interest and APY of 0.01% on all balances, regardless of the term or account balance. However, customers who link their CD to an existing personal checking account can earn more.
Chase Bank CD features
| Minimum opening deposit | $1,000 |
| Available term lengths | One month to 10 years |
| APY range | 0.01%–4.50% |
| Payouts | Monthly, quarterly, semiannually, or annually |
| Early withdrawal penalty | 90–365 days' worth of interest |
You can renew or change your CD term, add funds to it, or withdraw all your money at the end of the term. Chase also offers special CD ladders for its private clients, allowing them to open four CDs simultaneously and earn interest at intervals.
Other services Chase Bank offers
Chase offers several other banking services including the following:
- Credit cards: Chase offers over 20 personal rewards and travel credit cards, including the Chase Freedom Unlimited and Chase Sapphire Reserve, with bonus offers.
- Auto loans: Chase offers loans for new and used cars and works with a wide network of car dealers.
- Mortgages: Chase offers homebuyers financing and refinancing help with its home loans and can help you obtain adjustable-rate mortgage (ARM), Federal Housing Administration (FHA), and United States Department of Veterans Affairs (VA) loans with as low as 0% down payment.
- Investment and wealth management: Chase advisors can walk you through personalizing your financial plans and investment portfolio. You can invest in exchange-traded funds (ETFs), stocks, mutual funds, and other investment opportunities.
- Estate services: Chase Bank can help you gather the necessary documents and work with relevant institutions to obtain a deceased loved one's assets and clear their debts.
- Retirement planning: Chase provides tools to help customers plan and calculate 401(k), annuities, and individual retirement accounts (IRAs) and handle tax matters to develop the best retirement programs.
Insight from Jess Pingrey, Fortune contributor
"As an avid Amazon Prime user, a Prime credit card with Chase was a no-brainer. Its seamless integration with Amazon, points for buying with Amazon, and 5% cash back rewards make it the ideal credit card, even for someone like me who avoids having too many credit cards."
Online banking
While it’s not technically an online bank, Chase enables online banking, allowing you to pay bills, transfer funds, schedule transfers, and even deposit paychecks from your computer. You can also monitor your account activities and download your statements with utmost safety, thanks to the bank’s enhanced encryption technology.
The Chase platform and customer support
Chase’s secure mobile banking app provides 24/7 account management and Zelle compatibility and is rated efficient by over 7.5 million Chase customers. The bank also offers 24/7 customer support for a seamless banking experience. Get help from the Chase team by calling (800) 935-9935, sending a message on Facebook, Instagram, or X @ChaseSupport, or visiting the knowledge portal, where you'll find helpful blog posts, videos, and frequently asked questions (FAQs).
You can also use the Secure Message Center on your PC or the digital assistant via your Chase app. Chase Bank ranked consistently high for customer satisfaction in J.D. Power's 2023 U.S. Retail Banking Satisfaction Study, so you can be sure to get a good response from them.
Is Chase Bank secure?
Chase Bank employs enhanced security measures, such as secure sign-in, multiple authentication, data encryption technology, and validation checks to ensure your funds and identity are safe. Chase also works around the clock, monitoring your credit card for fraud and temporarily holding your bank account if there are any suspicious activities.
While Chase has gotten into trouble for violating regulations, there’s been no issue around customer data. Plus, your deposits are safe, up to 250,000 per account type since Chase Bank is Federal Deposit Insurance Corp. (FDIC)-insured in case of a bank failure.
Chase Bank user reviews
Current Chase customers are glad to bank with Chase because of its many savings and checking options, promotions, help with getting better loan rates, and smooth estate management process. However, some complained of undue account closures, while others felt the support team would be faster to attend to their issues or better informed to help them. We got mixed responses for credit cards, with some Chase customers being happy about their accounts while others complained bitterly about unfair charges.
Compare Chase Bank alternatives
Here’s how Chase compares to other popular banks in the country.
 Chase Bank |  Wells Fargo |  Bank of America |
|---|---|---|
| Minimum opening deposit | Minimum opening deposit | Minimum opening deposit |
| $0 | $25 | $0 |
| Opening bonus | Opening bonus | Opening bonus |
| $100–$300 for New Chase Secure Banking, Total Checking, and College checking accounts | $300 for all checking accounts | $200 for checking accounts |
| Monthly service fee | Monthly service fee | Monthly service fee |
| $5–$35; $0 for eligible accounts | $5–$35; $0 for eligible accounts | $4.95–$25; $0 for eligible accounts |
| APY rates | APY rates | APY rates |
| None; 0.01%–5.00% | None; 0.01%– 5.01% | None; 0.01%–4.85% |
| Number of ATMs and branches | Number of ATMs and branches | Number of ATMs and branches |
| 15,000 ATMS and 4,700 branches | 11,000 ATMs and 4,000 branches | 15,000 ATMs and 3,800 branches |
| Compare other alternatives | Read Wells Fargo review | Read Bank of America review |
Is Chase Bank right for you?
Chase Bank offers many banking services and account options to fit most individuals' needs. It's also famous for its optimum mobile and online banking and its physical presence in every state, making it suitable for those who prefer in-person banking. However, low interest rates, monthly service fees, expensive overdraft charges, and lack of opportunities, such as MMAs, can be good reasons to consider another bank.
Frequently asked questions
Does Chase give you $200 for opening an account?
When you open specific accounts, you’ll get an opening bonus if you meet the qualifying requirements. New Chase Secure Banking or College account customers may receive $100 while the Chase Total Checking account customers may receive $300. Chase’s ongoing opening bonus promotions will end on April 17, 2024.
How much money do you need to open an account at Chase?
Unlike many other big banks that require you to deposit a certain amount of money when opening a bank account, Chase has no minimum opening deposit.
What are the disadvantages of Chase Bank?
A few disadvantages of Chase Bank are low interest rates and APYs, monthly service fees, and wire transfer fees on some accounts.
