If you are looking for a brand-name national bank with strong online offerings, a highly rated mobile app and plenty of opportunities to interact off-line on the branch-level, Chase deserves your attention.
From high interest savings accounts to everyday checking and credit cards, the consumer and commercial banking arm of JPMorgan Chase & Co. has a range of accounts and features to choose from.
Here are all the pros and cons you should consider before opening an account with Chase:
Chase Snapshot
Savings Rates
|
|
Something to Love…
|
…Something to Consider
|
- Diverse and broad product line-up means a better chance of finding the right product for your unique situation, including multiple savings offerings such as Chase Savings, Chase “Plus” Savings and Certificates of Deposit.
|
- This is easy: No question you can find better savings rates at other banks, especially online-only. If securing the highest possible interest rate is your main goal, shop around.
|
Mobile Banking
|
|
Something to Love…
|
…Something to Consider
|
- App integrates all your Chase accounts so you can see checking, savings and credit cards all on one screen.
- Mobile payments are extremely easy to make.
- Excellent customer reviews and feedback for both Apple and Android apps.
|
- One recent reviewer in the Apple app store wished for the ability to wire money from their iPad to overseas accounts.
- Another warned mobile check deposit can be tricky in low light.
|
Fees
|
|
Something to Love…
|
…Something to Consider
|
- Setting up automatic transfers waives the monthly service fees on Chase’s basic savings account, something you definitely want to do right away. You shouldn’t have to pay to save.
- No monthly service fees on CDs
- No fee if savings account holder is under 18, which is great for teaching children about saving money early.
|
- Different savings accounts require different minimums or actions to waive fees, so customers have to pay attention. For example, you will need a $100 minimum deposit to open a Chase Plus savings account and could see a $20/month service fee unless you deposit $15,000 into the account or link to a Chase checking account.
|
Customer Service
|
Something to Love…
|
…Something to Consider
|
- Chase has clearly embraced social media. You can interact with a customer service rep on Twitter And it’s not a robo-response: Real people are behind the handle, staffing it M-F 7a.m.-11 p.m. ET & Sat. 8a.m.-8p.m. ET.
- ATM and branch availability: 5,300 branches and 16,100 ATMs nationwide.
- Personalized account alerts.
- Credit card holders get free access to their monthly FICO Score.
|
- Despite a large national footprint, Chase only operates in 25 states, so be aware if you are traveling and expect to find a no-fee ATM. You can search ATM and branch locations on the Chase website.
- Good to know: If you have a Premier Plus account you can use a non-Chase ATM for free up to four times during a statement period.
|
FILTER