Checking Accounts with Chase Bank (US)


Checking accounts, also known as demand accounts or transactional accounts, is a financial service provided by a financial institution. Like various other accounts, checking accounts has its own specific purpose and importance.

Uses of Checking Account

Checking account opening is also easy and chaos-free. They have the options of both debit and credit and usually does not provide high-interest rates to the customers on saved money. It offers unlimited deposits and much more debit opportunities than other banks.

These accounts have become important for commercial activity in the US. It also includes students accounts, joint accounts and others. It allows you easy access to your saved money. There are numerous purpose for which checking accounts are used. These can be explained as-

  • Checking account helps you manage your money which is definitely unsafe if present in the physical form. Checking accounts are safe and secure and using it to pay bills and rents is very easy and smart then keeping and paying money hand-to-hand.
  • Business purpose-checking accounts are involved in the business world. Business checking accounts are used in this regard. As high rates of withdrawal and deposits option is there so it is good for business owners.
  • Online transactions are so much in use today. Checking accounts allow you to do so.
  • Students also need ban accounts and this account has opportunities for students as well.

Chase Bank

Chase Manhattan Bank became J.P. Morgan Chase Bank, after merging with J.P Morgan Co. in 2000. It is prominently known as Chase Bank and is a USA based national Bank headquartered at Manhattan, New York City. Jamie Dimon is the CEO of the bank.

The bank offers its services for commercial purposes as well as to the individuals. Furthermore, it has more than 5,100 branches, 16,000 ATMs and approximately 20,000 employees serving more than 100 countries. It offers its customers, checking accounts, savings accounts, debit and credit cards, montages, various types of loans and business banking among several others. Let’s see how checking account is opened with Chase Bank.

Checking Account Opening

There are basically three types of Chase checking account, like chase total checking, chase premiere plus checking and chase sapphire checking. Below mentioned is the processfor checking account opening-

  • You first need to visit chase total checking page if you want to apply online. There you need to fill your e-mail address to receive a coupon and get started.
  • There is an option “open account”. Click on it to proceed, you will be asked 2 questions and directed to account opening page.
  • Now, you will be asked for your basic information like name, address, Date of birth etc. Don’t forget not to mention the same as in your identity proofs. (SSN,  driver’s license or state Id proof)
  • With a few steps, you’ll be able to open your account.
  • You’ll receive a verification code and verified according to the identify proof you attached.

Fees for various checking accounts are as follows-

Fees Total checking accounts Premier plus checking accounts Sapphire accounts
Monthly fees $12 $25 $25
Fees waived at non-Chase ATM $2.50 (in US), $5 (outside US) $2.50 (In US) $5 (outside US) $0
Overdraft fees $34 $ 34 $34
Chase debit card coverage and fees $34 $34 $34
Minimum opening deposit $0 $0 $100
Miscellaneous fees Statement copy Counter check Money order Legal processing $6 $2 $5 Up to $75 $6 $0 $0 Up to $75  

Customer Reviews

The overall rating of Chase is 3.5/5 whereas others are-

Field Ratings
Overall 3.5
Checking accounts 4.5
Savings account 3.5
Certificate of deposit 1.5
Bank experience 4.5
Overdraft fees 3.0

An anonymous customer posted a review marking all three customer service as website and rates as poor while fees as high while some says website and rates are fair. So, there is a mixed view regarding the working of Chase Bank. Some prefer it while some don’t.

Advantages of Checking Accounts

  • Access to online and mobile banking
  • ATM and debit cards and checks facility.
  • Direct deposit of employers’ paychecks.
  • Most of them are insured by Federal Deposit Insurance Corporation

Conclusion

As you can see, the overall working and ratings of the chase account are average whereas checking account receives good ratings and reviews. Chase Bank is currently progressing and serving almost half the US population.

US checking account of Chase Bank, its opening and processing is not too hectic and highly charged. People find it a good way to secure their finances. There are some very good advantages to it as well.