Is Chase good to bank with?
Our recent MarketWatch Guides consumer banking survey shows that 64% of Chase customers are extremely satisfied with their banking experience. Chase best suits customers who prefer many branch and ATM options, want a solid digital banking experience and can meet requirements to get monthly account fees waived.
- Low interest rates on CDs, savings and checking accounts.
- Monthly fees with most accounts if you don't qualify for waivers.
- Out-of-network ATM fees with Chase's basic accounts.
Chase ranked well in the 2023 J.D. Power U.S. Retail Banking Satisfaction Study. Chase has a good basic checking account but its savings rates are low, and some fees are high and hard to avoid.
Bank of America pays slightly higher interest on your account balance. It also has a lower monthly fee and more options to have it waived. While the comparison between the two banks' checking accounts stacks up as a draw, the clear winner among savings accounts is Bank of America Advantage Savings.
What's more, it currently offers one of the most competitive easy access interest rates on the market. Although customers will need to open a Chase Current Account as well, this also offers a range of benefits. You'll be able to earn cashback for a year, for instance.
Is Chase FDIC insured? Yes, all Chase bank accounts are FDIC insured (FDIC# 628) up to $250,000 per depositor, for each account ownership category, in the event of a bank failure.
- Capital One 360 Checking: Best online checking account.
- Chase Total Checking®: Best for a large branch network.
- Axos Bank Rewards Checking: Best for online account options.
- Discover® Bank: Best for doing all of your banking at one place.
- Synchrony Bank: Best high-yield savings account.
Does Chase have a free checking account? Almost all Chase checking accounts carry a monthly fee. However, there are ways to get the fee waived on most accounts, such as by keeping a certain balance in the account or setting up direct deposit. Chase does offer two checking accounts with no monthly fee.
Service Fee: Chase Secure Checking has no Monthly Service Fee when you have electronic deposits made into this account totaling $250 or more, such as payments from payroll providers or government benefit providers, by using (i) the ACH network, (ii) the Real Time Payment or FedNowSM network, or (iii) third party ...
JPMorgan Chase, or Chase Bank, is the biggest bank in America with nearly $3.4 trillion in assets.
Why is Chase Bank so good?
Chase Bank is the largest bank in America and has operations across the country and around the world. While its deposit accounts pay mostly lackluster interest and charge more and higher fees than much of the competition, it's an excellent banking choice for consumers with very specific financial needs.
- Ally Bank: Best for Overall best bank.
- Schwab Bank: Best for ATM access.
- Chase: Best for Sign-up bonus and branch access (separately)
- UFB Direct: Best for Savings.
- SoFi Bank, N.A.: Best for Checking.
If you're looking for better rates and lower fees, Wells Fargo will likely be your best bet. Wells Fargo also has a wider variety of bank accounts to choose from. However, whether you choose Chase or Wells Fargo, you can rest easy knowing you'll always have quick and easy access to your accounts.
As of April 2024, no banks are offering 7% interest rates on savings accounts. Two credit unions have high-interest checking accounts: Landmark Credit Union Premium Checking with 7.50% APY and OnPath Credit Union High Yield Checking with 7.00% APY.
JPMorgan Chase, the financial institution that owns Chase Bank, topped our experts' list because it's designated as the world's most systemically important bank on the 2023 G-SIB list. This designation means it has the highest loss absorbency requirements of any bank, providing more protection against financial crisis.
While there's no minimum deposit to open the account, it does have a $12 monthly maintenance fee. Customers can avoid the monthly fee by meeting any of the following requirements: Receive a minimum of $500 in monthly electronic deposits. Maintain a daily balance of $1,500 or more.
- Pros.
- Leadership. JPMorgan CEO Jamie Dimon is perhaps the world's most savvy banker. ...
- Investment banking. This segment has been growing nicely, both with debt and equity offerings. ...
- Credit quality. ...
- Cons.
- Loan growth. ...
- Mortgages. ...
- Regulations.
Your money is safe in a bank with FDIC insurance. A bank account is typically the safest place for your cash, since banks can be insured by the Federal Deposit Insurance Corp. up to $250,000 per depositor, per insured institution, per ownership category.
- JP Morgan Private Bank. “J.P. Morgan Private Bank is known for its investment services, which makes them a great option for those with millionaire status,” Kullberg said. ...
- Bank of America Private Bank. ...
- Citi Private Bank. ...
- Chase Private Client.
| Bank | The Ascent's Rating | FDIC Insured? |
|---|---|---|
| Capital One | 4.50 | Yes |
| American Express® National Bank | 4.50 | Yes |
| Quontic | 4.50 | Yes |
| Chase | 4.50 | Yes |
Who owns Chase Bank?
Today, JPMorgan Chase remains a publicly traded company, which means it's owned by its shareholders. It trades on the New York Stock Exchange under the ticker "JPM." Since it's publicly traded, anyone with a brokerage account can invest in the stock and become part owner of JPMorgan Chase.
Chase Bank charges a $25 monthly fee on Chase Premier Savings accounts. You can avoid the fee if any one of the following requirements are met: Balance at the beginning of each day of at least $15,000.
The $300 bonus offer simply requires you to open an eligible new Chase checking account and set up qualifying direct deposits within 90 days. No Chase promotion code is needed to activate or claim the $300 bonus offer. You do, however, have to be a new customer to get the bonus.
Chase Checking and Savings Account Bonus
Say you want to earn the $300 Chase Total Checking bonus and the $200 Chase Savings bonus. If you open both accounts together, you'll get an extra $100, bringing your total bonus amount to $600.
Chase First Banking
Exclusively for Chase checking customers, an account with a debit card for kids and teens with no monthly service fee and digital tools to help parents teach good money habits.
