A Review: Is Chase Bank the Best Option for Your Money?

(Editor Rating)



Shopping around for a new bank? Or maybe you just need an additional single-use checking account to keep your budget straight? We review Chase Bank to find out if this is the best place for your money.

Variety of Accounts


Interest Rates


Customer Service


Mobile App






  • Great Rewards Programs
  • Big Balance Transfer Savings
  • 24/7 Customer Service

Editor's note - You can trust the integrity of our balanced, independent financial advice. We may, however, receive compensation from the issuers of some products mentioned in this article. Opinions are the author's alone, and this content has not been provided by, reviewed, approved or endorsed by any advertiser.

While small banks and credit unions are a great option, don’t leave the big names off your list, either. Chase Bank is a big name in the industry, and they offer their customers quite a few benefits.

Right now, in fact, is a great time to sign up for a new account at Chase, as they’re currently offering some great bonuses for new checking and/or savings account holders. We’ll cover the bonuses in a moment. First, let’s talk about the basics.

They’ve Got it All

One of the best parts about banking with Chase is that they offer literally everything. From checking and savings to credit cards to mortgages and other loans, you’ll find it all here. If you want to streamline your finances by having all of your accounts, loans, and cards with the same company, Chase is worth a look.

While this isn’t always the best financial strategy, as it pays to shop around, you can benefit from having all your financial “stuff” with a single provider. Often, making payments is easier, and your local bank could really get to know you and your needs well if you typically visit them for customer service.

Besides having all the financial services that you might want, Chase is also available quite widely. While it doesn’t serve all regions of the country, it does operate nearly 4,900 branches in the U.S. right now, as well as tens of thousands of ATMs. And if you can’t find a branch or ATM near you while you’re traveling, Chase offers a fairly robust online banking system.

Major Benefits

Besides offering everything, like most big banks, what are the other major benefits of choosing Chase Bank? Here are the most important:

Great Technology: Chase has invested a lot of time and money into creating a great technological experience for its customers. Its website is intuitive and easy to use, and so is its mobile site. You can use your phone to make mobile deposits of up to $2,000 per day, which is great if you’re not near an ATM.

Speaking of technology, Chase’s incorporates all of your accounts with the bank. When you pull up your mobile account, for instance, you can get instant access to your checking and savings account balances, as well as your outstanding credit card balance. You can make transfers between accounts, wire money to a friend or family member, or pay bills all from your mobile.

Like many large banks with mobile apps, Chase offers mobile alerts, too. These can help you stay on top of your finances by letting you know when your account is running low or when your paycheck gets to your checking account. Useful tools, to be sure.

Good Offers: Many large banks, especially, are jumping on the rewards bandwagon right now. Chase is one of them. When you sign up for a Chase Total Checking® account as a new customer, you just have to set up direct deposit to get a $200 bonus added to your account.

Besides bonuses for checking accounts, Chase offers bonuses for many of its credit card accounts, too. So if you’re also in the market for a travel or points rewards card, consider consolidating this with Chase, as well. The Chase Sapphire Preferred Card and Southwest Rapid Reward Premier Credit Card are both good options.

Free Options: One thing to look out for, of course, when switching banks is the fees a bank charges. Like most other large banks, Chase doesn’t offer outstanding interest rates on its checking and savings accounts. So be sure that any interest you’re earning doesn’t get swallowed up by monthly account fees.

Right now, the basic Chase Total Checking® account comes with no monthly service fee as long as you’re making direct deposits totaling $500 or more each month, maintaining a $1,500 minimum daily balance, or have an average daily balance of $5,000 or more in qualifying linked deposit or investment accounts.

Meeting the first requirement will be pretty easy if you work full-time and have your paycheck automatically added to your account each month. But you could also nix the fees if you keep your emergency fund savings account or an investment account linked to your checking account.

Chase’s higher-level checking account options, including Chase Premier Plus Checking and Chase Premier Platinum Checking both earn interest. But maintaining no fees in these accounts requires a much higher average daily balance in linked accounts: $15,000 and $75,000, respectively.

However, you could qualify for a free Chase Premier Plus Checking account if you have a qualifying mortgage from Chase and make automatic mortgage payments out of your checking account. This is worth looking into for current mortgage customers, since an interest-bearing checking account (that doesn’t charge fees!) is a great option.

Finally, Chase offers an account specifically for high school and college students. Monthly fees for this account go up to $6 per month. But you can avoid the fees by setting up the account for monthly direct deposit or by linking it with a parent or guardian’s Chase checking account.

Unlike with some banks, Chase checking accounts aren’t unequivocally free. But meeting the free account requirements for the non-interest-bearing accounts isn’t that difficult, either.

What about Chase’s savings accounts? Similarly to the checking options, the savings accounts come with a monthly service fee, which can be waived for a variety of reasons.

The basic Chase Savings(SM) requires a $300 minimum daily balance, a minimum of one automatic repeating transfer of at least $25 from a checking account, or linkage to a higher-level checking account. Also, account owners under the age of 18 can get a free checking account.

As with the checking accounts, the higher-level savings accounts, which offers higher interest rates, has tighter requirements for avoiding the monthly service fee. This includes either a $15,000 minimum daily balance or having the account linked to a high-level checking account.

Low Minimums: It doesn’t take much to open a Chase account. The basic checking account has just a $0 minimum to open.

The Drawbacks

All banks have their drawbacks, even those with generally good products and reviews. Here’s what you should look out for from Chase:

Lower Interest Rates: You’ll often find that online-only banks that streamline their services can offer higher interest rates. The opposite is true of full-service, brick-and-mortar banks like Chase. As of this writing, Chase’s savings account APY is just .01%.

Regional: Though Chase Bank is technically a national chain, it’s not available everywhere. Be sure to check out the availability of banks and ATMs in your area, or areas where you often travel, before deciding to open an account.

Account Fees: Though you can avoid account fees with Chase checking and savings accounts, you’ll have to meet all the parameters to do so. Other banks offer free checking and savings accounts without any hoops to jump through.

If you’re planning to go the traditional route and just open a single checking and a single savings account, preferably linked, you can probably avoid most of Chase’s account fees. But if you’d like to have dedicated checking or savings accounts to keep your money separated out for different purposes, Chase is probably not your best option.

Low Mobile Deposit Limits: If you’re a business owner or freelancer who often gets payments in the form of a check and likes the convenience of a mobile deposit, think twice about Chase. Their daily mobile check deposit limit is just $2,000, and the monthly limit is just $5,000.

Users who have their regular paychecks deposited into the accounts probably won’t find this to be an issue. You can just use mobile deposit for the personal checks you receive once in a while. But for those who deposit more checks, this low limit could be problematic.

Pros and Cons


  • Top Tier Credit Cards, Checking Accounts and Bonuses
  • Great Rewards Programs
  • Big Balance Transfer Savings
  • 24/7 Customer Service


  • Poor Interest Rates on Deposit Products

The Bottom Line

Chase Bank can be a good option for checking and savings, especially if you already do or plan to take advantage of some of the bank’s other offerings. And if you’re looking for a bank with a strong online presence and intuitive mobile app, this is certainly one to check out.

However, if you’re looking for the most affordable accounts with the best interest rates possible, you’ll probably need to look elsewhere.

Author Bio

Total Articles: 279
Abby is a freelance journalist who writes on everything from personal finance to health and wellness. She spends her spare time bargain hunting and meal planning for her family of three. She has a B.A. in English Literature from Indiana University–Purdue University Indianapolis, and lives with her husband and children in Indianapolis.
Article comments
Eric Bowlin says:

I had the most success with small local banks with around 5-15 branches. Best service, you get to know everyone, and their financing solutions for small business and real estate are quick and great. They know their market better than those big banks.

I did just grudgingly open an account at a large national chain. I just moved from MA to TX and need to manage money in both states because of my real estate investing business. I’m happy so far but we’ll see how it all works out.

Tia says:

Good info about chase. I’ve had the best experience with credit unions. I have a small checking account at chase just because it is available pretty widely in the Midwest.

Robert Pearson says:

I’ve just recently in the past year went back to a big chain bank (Chase) for convenience. Much to my surprise, they have served me well. Sometimes it’s the little things and for me they have a really great website and mobile app that is really easy to use. I like that when you make a payment or transfer money it, in real time deducts from your total funds, which I like. As long as you play by their rules, they are great..

Rob Berger says:

Robert, thanks for sharing your experience with Chase.

Elena says:

I did an online balance transfer for 3000.00 from my account in Chase to my account in Citibank.
The money never made it to Citibank, I own Chase 3000.00 now.
I’ve called and called and called. They told me to wait. Waited and waited.
On October 26 they told me the money made it to a payee and I need to work with Citibank if the payee is not me.
Citibank says it’s up to Chase to straighten this out, they initiated the transfer.
I finally get a letter from Chase (image attached). As you can see, the letter says the money were given to a payee whose account ends with 3027 and if I have a problem I should talk to the payee.
The payee, the 3027 account, I need to find him and confront him about my money.
That’s what Chase did with my 3000.00. They’re done now, and I owe them 3000.00.

Nestor Raul Juarez says:

Interesting, I see many complaints about this Bank, I am considering closing my accounts.

Todd J Smeltzer says:

So, I’ve been paying on my auto loan with Chase Bank for three years now, never missing a single payment, just got hit with multiple unexpected bills, like an auto repair job. I asked for a deferment of this months bill, that they could place at the end of the loan, meaning they would also get extra interest on this loan as well. They told me I did not qualify and when I asked what was the reasoning for this decision they would not give me a reason. I will be contacting my credit union at the end of this review to transfer my loan over to them, and dumping Chase Bank forever. I am totally finished with big banks from this point on!

Chelsea says:

The exact same thing happened to me when my vehicle was totaled & my gap insurance was covering the payments (or, was supposed to; that’s another story & don’t trust the hodgepodge that is Ally Bank). Chase refused to defer my payments until the claim was wrapped up and even though they got $15,000 from my insurance company, they still demanded money from me, which would have been the difference between paying for a vehicle that was totaled & paying my electric bill. They even threatened to repo my totaled car 😂 Chase is a crock of crap, just like this article glorifying them without any real research into their manipulative, terrible practices.

L says:

There is a reason this bank holds such a low raiting among customers. I just closed all of my accounts today. I have had a Chase account for a few years. I opened my Sapphire Card account hoping to earn miles for travel. I made sure that I put enough on the card for the first 500 miles. I also made some large purchases on the card and also some every day purchases. I always payed off what I owed. I had paid off the card and had not been checking statements for some time, because I knew that I had taken a break from using the card in 2018. Unbeknownst to me, they charge an annual fee and closed my account after 30 days. I lost alllll my saved miles. They were unwilling to help me recover them and make it right. I promptly closed my Chase checking and savings accounts and am moving the funds to my other bank. I have a very bad taste in my mouth from this experience and will not recommend or work with Chase Bank ever again. I was really looking forward to saving money on this upcoming trip with the coveniently discarded account. Bad business.

Jim says:

It’s sad to see a comment like this!! Nobody takes responsibility for themselves. It’s ALWAYS somebody else’s fault!! It’s not bad business when a bank has an annual fee that YOU didn’t research. Sounds more like a bad customer to me

Chloe Pontreau says:

I wanted to sent money to a friend using QuickPay like I usually do. This day, I did it the exact same way I always did. So far, no issue, my friend always received the money without trouble. But this time, nothing arrived on his bank account. I’ve been advise that the money is on a Chase bank account even though my friend NEVER opened a Chase bank account. The customer service opened a claim that they immediately closed, saying that it was my fault because the transfer has been initiated from my person. The only thing I don’t get is how, by doing the exact same process, the money can end up in different bank accounts?! And, one precision: my friend didn’t change his phone number and other people transferred him money since I did and it worked. Results: I lost $100 and Chase doesn’t even try to help me recovering the found… A shame !

Nic says:

Used to work for Bank of America, which despite being a good employee, made me swear off big nasty banks, there is just no personal touch and fees can be exorbitant, borderline predatory. I just switched cities however, and couldn’t resist the 200 dollar bonus from Chase. So far, I love it. No matter where I’m at in a city of 2 million, there’s a branch or ATM nearby. The app and online banking are amazing, I love being able to make ATM deposits, and using Google pay instead of bringing my card everywhere is really cool. For a checking account, emergency savings, and credit cards you can’t beat them. If you’re someone who needs to do a lot of banking on a branch though, they’re probably not for you.

Jayla Payton says:

I never had bad experience with Chase until this year. 2-3 weeks ago i paid my phone bill and then the took the $100 out again so my account went negative so i called my phone company to discuss it and they called Chase to reverse it and the lady did it. She didn’t say anything about it being temporary or nothing! So then 2-3 days later my account went back in negative so i called both T-mobile and Chase. T mobile was very helpful! But Chase gave it back later that day. 2 weeks later (Today) Why did they take the $100 back because they said T-mobile gave me my money back 2 days after them and they claim they sent me a letter stating they were reversing the claim. I NEVER RECEIVED A LETTER. Not only that why is the claim being reversed two weeks later! This back and forth is so stressful! I just called and the lady was no help. All i wanted to know was why 2 weeks later you reversed the funds and where is this letter she keep talking about. I’m trying to hold on with Chase but this is getting out of hand.

S. Forster says:

Chases credit card interest rates are abusive, and the fraud alert system infuriating. Every single purchase hits a fraud alert, so you are constantly calling them and having to go over your purchases by phone to clear alert after alert on purchase. It would be one thing if the credit card intreste rates were low. Quite another is you are being offered hellish rates and an annoying fraud alert system.

Chen says:

I have been with Chase Bank for four years and have received so many fees that are unexceptionable. Over the past few months I have gotten over draft fees even though I had money in my accounts so I called to link my accounts and they told me this will fix the fees that have been applied and no more worries. Fast forward one month I received four more overdraft fees so I called and spoke with a manager and she said that if a check pulls from saving it will not draft from my checking’s. I said great I am glad you told me this because the representative did not say that at all and I got more fees due to this. So she did reverse some but said that was the max she could fix at one time. She also had to call her manager to transfer funds to my other account because it said I did not have enough in my account when I clearly did as I and the manager saw that I did. So they had the higher manager manually transfer fund and during this it created another check to bounce and more fees. I called once again and spoke with a manager right away and he says that I have reached my max reversal for 12 months for curtsy reversals. I say but this was made due to there mistake. He said sorry nothing I can do about it. I do not recommend this bank at all! Customer service is horrible and they will charge so many unnecessary fees that a credit Union will not. Save your money and the headache and go with another financial institute!

Michael S says:

Stay away from banking with Chase. It was 100% wrong when they played Big Brother with my bank account as I was in Playa del Carmen Mexico for one month and they oddly started limiting my daily use to $100. I’m a freaking adult that is past their 30’s. Before heading to Mexico I cleared with them that I’ll be out of town. They said, yes thank you for telling us. When I was leaving Mexico, i was unable to take any money out to pay for a bus ticket to the airport, and i exceeded my NEW $100 withdrawal limit they mysteriously added to my account. I had to talk a taxi driver into allowing me to FILL his gas up using my credit card in order to drop me off at the airport. When home I contacted Chase Bank and they informed me that they felt my card was compromised and are now sending me out a new card. WoW I never got a phone call, email or any heads up regarding them closing out my previous card and limiting it to a minimum amount of cash. I asked for the person that made the executive decision to Big Brother my account and they could only apologize and that was all they could do for me. PLEASE STAY AWAY FROM CHASE, WORST BANK ON EARTH

so says:

I would rate Chase Bank zero for customer service. They do not care about the customer and I would hope that higher management would consider what is said and change their philosophy from we rule the customer to a more customer-centric and understanding of what the customer wants and needs from you as a company. Please consider re-training your management down to your bank tellers. There are very few branches that I have visited that actually have a truly good customer experience. You may be big but if you continue on your path you can also fall real fast. Smaller banks give excellent customer service and actually care about the customer. Chase should try to be a little more like smaller banks as they have grown to big to care anymore.


Sorry to hear your terrible experience. Do you have a number I can contact you on to briefly discuss a solution to help eliminate this issue from happening again?

Erik Shirkey says:

happened to me too. chase sucks so bad! ive been a customer now for over 8 years and I was treated like a scum bag off the street today.

Megan Wyse says:

Had a linked savings account, was still charged monthly fees. Closed the savings account and kept $1500 at all times, it went down to $1495 for ONE day because I bought a $5 mobile game which I put the $5 back into my account SAME DAY to cover the fee, and was STILL CHARGED A FEE! They told me it can NEVER for even one single minute go below $1500! That’s absurd!!! I’m done. Accounts closed. I’m tried of jumping through their hoops and having to basically never touch $1500 of my own money lest I want to pay a monthly fee. Stay away unless you like paying them for literally nothing.

Dan says:

A Chase Bank Teller arbitrarily made a decision to freeze my uncle’s Chase Savings Account moments after we deposited over 150k into the account, brining the balance to over 650K. I am a Beneficiary on the POD account and after identifying myself and giving him copies of my Drivers License and Power of Attorney, well, it just didn’t set well with him. He flagged the account to Security as potential Bank Fraud. This situation caused a ripple effect and misery for me and my family. We needed the money to care of him and set up burial. He was 93 and in poor health. We could not tell him what happened because he would not have been able to take the stress. We closed out the account. I will never go near these people again. Never.

John O says:

I had been an active customer of Chase for many years.

Then some person used my debit card to charge items online. Chase caught it and asked if it was me. When I said no then the card was canceled.

Then it was 2 weeks until I got the replacement card.

I have had troubles activating it.

I contacted Chase several times. But there has been no activation yet.

It has been 4 weeks and I have had automatic monthly charges hit that card that I am still untangling.