Do you want to know all the characteristics of the Chase bank accounts? Alfredo Barandiarán will explain for Economía Responsable all the characteristics, requirements and conditions that the Chase bank accounts have. Welcome!
Types of bank checking accounts you can open with Chase
You have up to 3 types of bank accounts that you can open with Chase:
Chase’s most popular account is Chase Total Checking. We are going to break down the characteristics of each account
Chase Total checking
Interest rate
The interest rate offered by the Chase account is 0.01%. As you can imagine, it is a very low interest rate, so if you are looking for saving, this is not your account.
ATM network
You have more than 4,600 branches in the United States and more than 16,000 ATMs to withdraw money without commissions. Remember that outside the United States you will have to pay commissions for each cash withdrawal.
App
The Chase app is very easy to use and is one of the most valued.
Fees
You have to pay a monthly commission of 12 dollars unless you meet one of the following conditions:
- Make a monthly deposit of $500
- Have an average of $5,000 in the sum of all Chase accounts
- Have at least $1,500 to start each day
Bonus
You have a bonus of 200 dollars only for new Chase clients. Have your direct deposit made to this account within 90 days of coupon enrollment. Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government.
Chase Secure Banking
Chase Secure Banking is the least contracted because you have to pay a fee of $4.95 per month. The only difference between this account and the previous one is that you will not be able to be in overdraft, so you will save not having to pay added commissions.
Chase Premier Plus Checking
Chase Premier Plus Checking is another of the accounts that you can open with Chase. In the case of not complying with the conditions you will have to pay up to 25 dollars a month. For the account to be free you have to meet one of these two conditions:
- An average beginning day balance of$15,000 or more in any combination of this account and linked qualifying Chase checking, savings and other balances.
- A linked qualifying Chase first mortgage enrolled in automatic payments from your Chase account
One of the best aspects of this account is that it has no commissions at non-Chase ATMs.
Fees
As we have seen, you can pay up to $25 per month depending on the account you have chosen. Remember that if you meet the conditions of each account you will not have to pay anything. Each bank account has different conditions for not paying commissions.
To avoid paying commissions in Chase Total Cheking you have to meet one of the following requirements:
- Make a monthly deposit of $500
- Have an average of $5,000 in the sum of all Chase accounts
- Have at least $1,500 to start each day
If you do not want to pay commissions in the Chase Premier Plus checking you have to meet one of the following requirements:
- An average beginning day balance of$15,000 or more in any combination of this account and linked qualifying Chase checking, savings and other balances.
- A linked qualifying Chase first mortgage enrolled in automatic payments from your Chase account
Pros
Once we have seen all the features, we can show you all the advantages that Chase checking accounts have:
- Chase has more than 4,600 branches and 16,000 ATMs in the United States
- Withdraw up to 4 times per period with Chase Premier Plus Checking
- One of the best online bank accounts
- No fees if you meet conditions
Cons
Now we show you in the following list all the disadvantages of Chase accounts:
- You have to pay up to 25 dollars a month if you do not meet the conditions
- Very low rates offered in all checking accounts
- Commissions of 3 dollars on cash withdrawals in non-Chase ATMs with the Chase Total Checking and Chase Secure Banking
Requirements
The requirements to open a bank account with Chase are as follows:
- Have a Social Security number
- Possess a US phone number
- Proof that you are living in the United States
Frequent questions
Here we answer all the questions you may have about Chase:
How to open a bank account in Chase
You can open a bank account using one of this options:
- Online: you can do it using your mobile phone or computer
- Branches: you can open your account in person with a Chase banker
Conclusions
After the analysis done, we can tell that Chase checking accounts are a very good option, as you will not have to pay fees if you meet the requirements, plus Chase have a lot of ATMs in the country. However, you must have into account that interest rates offered by their checking accounts are really low.
Comparison with the best checking accounts in 2023
We have made a comparative table of Chase with the best checking accounts you can open in 2023:
- It is very easy to avoid monthly commissions
- Welcome bonus of 200 dollars fulfilling conditions
- More than 16,000 ATMs in the United States
- $25 minimum deposit
- Very low interest rates
- It is very easy to avoid monthly commissions
- More than 16,000 ATMs in the United States
- $100 minimum deposit
- No welcome bonus
- High interest rates if you have a lot of savings
- It is very easy to avoid monthly commissions
- Nearly 12,000 ATMs
- $25 minimum deposit
- Welcome bonus of 200 dollars fulfilling conditions
- High interest rates on CDs
- No fees and no requirements
- Nearly 60,000 ATMs
- Welcome bonus of 250 dollars fulfilling conditions
- High interest rates on CDs
- It is very easy to avoid monthly commissions
- Nearly 50,000 ATMs
- Without minimum deposit
- Welcome bonus of 400 dollars fulfilling conditions
- High interest rates on CDs
Video with the best checking account in 2023
We have made a video with the best checking accounts in 2023:
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Updated the day 29 January, 2023 by Alfredo Barandiarán
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