Chase Private Client checking account

Would you like to read a comprehensive review of the Chase Private Client checking account? Responsible Economy has conducted an in-depth analysis of all its features, including fees, interest rates, welcome bonuses, requirements, and everything you need to know. Additionally, we provide a comparison of the best checking accounts available in the United States in 2023. Welcome and enjoy the review!

Features

Let’s take a look at the features of the Chase Private Client checking account:

Fees

If you fail to meet the requirements, you will be subject to a monthly fee of $35, amounting to $420 per year. The only requirement is to maintain an average balance of $150,000 in the checking account.

Minimum deposit

While Chase does not explicitly state the minimum initial deposit for opening this checking account, it is likely that you will need to make a minimum initial deposit of $100,000 to be eligible.

ATM withdrawals

With the Chase Private Client checking account, you can make fee-free cash withdrawals at ATMs worldwide.

Zelle

You can conveniently send and receive money using Zelle with this account.

Chase Overdraft Assist

This particular checking account does not offer an overdraft service, as it requires a minimum balance of $100,000.

Bonus

There is no welcome bonus associated with this account.

Interest rate

Chase offers a meager interest rate of 0.01% APY. However, private banking clients may have the opportunity to negotiate a higher interest rate with their bankers.

Requirements

Aside from the minimum balance requirement of $150,000, there are no specific additional requirements mentioned for the Chase Private Client checking account.

These features and requirements should be taken into consideration when evaluating whether the Chase Private Client checking account aligns with your financial needs and goals.

Requirements

The only requirements to open the Chase Private Client checking account are as follows:

1. Residency: You must be a resident of the United States and provide proof of your residential address.
2. Minimum Balance: You need to maintain a minimum balance of $150,000 in the checking account.
3. Social Security Number: You must have a valid Social Security number.
4. US Phone Number: You need to have an active phone number in the United States.

Meeting these requirements is essential to be eligible for the benefits and privileges offered by the Chase Private Client checking account.

Fees

As mentioned previously, it is important to note that if you do not meet the requirement of maintaining a minimum balance of $150,000 in your Chase Private Client checking account, you will be subject to a monthly fee of $35. Therefore, it is crucial to ensure that your account balance meets or exceeds the specified threshold to avoid incurring the monthly fee.

Pros

Here is a list of the advantages offered by the Chase Private Client checking account:

• Extensive Branch Network: Chase Private Client provides access to a large number of offices and branches across the United States, offering convenience and accessibility.
• Enhanced Interest Rates: Compared to other Chase accounts, the Chase Private Client checking account may offer better interest rates, allowing you to potentially earn more on your account balance.
• Fee-Free ATM Withdrawals Worldwide: With Chase Private Client, you can make withdrawals at ATMs around the world without incurring any fees. This feature provides flexibility and convenience when accessing your funds while traveling.

Cons

Here are the disadvantages of the Chase Private Client checking account:

1. Monthly Fees: If you fail to meet the minimum balance requirement of $150,000 in your account, you will be subject to a monthly fee of $35. This fee can add up over time and impact the overall cost of maintaining the account.

Frequent questions

Now we are going to answer all the questions you may have about Chase Client Private.

Differences between Chase checking accounts

We have made a table with all the differences between the checking accounts that you can open with Chase:

Chase Total Checking	Chase Secure Banking	Chase Premier Plus Checking
12$* (fulfilling conditions 0$)	4,95$	25$* (fulfilling conditions 0$)
Easy to avoid commissions	You can’t avoid commissions	Difficult to avoid commissions
Zelle service	Zelle service	Zelle service
Overdraft assist	No Overdraft assist	Overdraft assist
Fees cashier checks	Fees cashier checks	No fees cashier checks
Fees at non-Chase ATMs	Fees at non-Chase ATMs	4 free withdrawals
Chase fees for checks	No service Chase for checks	No Chase fees for checks

Comparison of current accounts in 2023

We have made a chart with the best checking accounts that you can open in the United States:

Chase checking accounts

We have made a video with the main characteristics of Chase checking accounts:

Video with the best banks

Here you have a video with best checking accounts in 2023:

Learn more about Chase

We show you a table that we have made with information of interest about Chase:

Información	Description
Web page	https://www.chase.com/
Facebook	https://www.facebook.com/chase
Twitter	https://twitter.com/Chase
Number of telephone	1-800-935-9935

Other Chase products

Here you have a list with products by Chase:

• Checking accounts: here you have all Chase checking accounts:
  • Chase Secure Banking review.
  • Chase Premier Plus checking review.
  • Chase Total Checking review.
• Savings: Chase savings account review.
• Chase certificates of deposit.
• Credit cards: all Chase credit cards.
  • If you are a student here is the Chase freedom Student credit card review.
  • Chase Freedom Unlimited review.

Conclusions

Based on the comprehensive analysis conducted, our conclusion is that the Chase Private Client checking account may not provide favorable conditions. The requirement of maintaining a minimum balance of $150,000 to avoid paying commissions can be restrictive for many individuals. Additionally, the lack of transparency regarding the interest rate offered is a significant drawback, as it prevents potential clients from assessing the potential returns on their deposits.

Related content

Finally, you have articles related to bank accounts:

Updated the day 1 September, 2023 by Alfredo Barandiarán