Chase Bank Review 2024

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by Kevin Mercadante

Updated March 26, 2024

Chase Bank is the largest bank in America and has operations across the country and around the world. While its deposit accounts pay mostly lackluster interest and charge more and higher fees than much of the competition, it’s an excellent banking choice for consumers with very specific financial needs.

What are those needs, and how does Chase Bank meet them? Read on to find out.

Who is Chase Bank for?

In reviewing the products offered by Chase Bank, it doesn’t present as “every person’s bank.” This is because the bank pays lower interest rates and charges more and higher fees than much of the competition.

However, because of its size and wide range of financial products, Chase can be a natural banking choice for many consumers. For example, if you have a home loan and one or more credit cards with Chase, you may want to open a checking account with it.

Similarly, if you run a business and either handle your business banking through Chase or want to trade up to a full-service business bank, you may want to open one or more personal accounts there as well.

Finally, Chase is an excellent choice if you regularly engage in international transactions, whether for personal or business purposes. This is because Chase is a global financial institution with many years of experience with international transactions. For example, not all (or even most) banks and credit unions can accommodate international wire transfers, Chase can.

In short, Chase is an excellent bank to work with, but not for the usual reasons (high interest and low fees) consumers choose a bank.

Review of Chase Bank checking accounts

As the largest bank in America, Chase offers many different checking accounts. We’re going to focus on three of the most popular: Total Checking, Secure Banking and Premier Plus Checking.

Chase Total Checking is the bank’s most popular checking account. It’s a non-interest-bearing account that requires no minimum deposit to open. The account comes with Chase Overdraft Assist, which means there’s no overdraft fee if your account is overdrawn by $50 or less at the end of the business day or if you’re overdrawn by more than $50 and bring it to $50 or less at the end of the next business day.

The account also comes with Zelle, Online Bill Pay, and account alerts. Chase is currently offering a $300 sign-up bonus for new Chase customers when you open a Chase Total Checking® account and make direct deposits totaling $500 or more within 90 days of coupon enrollment.

The account has a $12 monthly service fee, which can be waived with 1) electronic deposits of at least $500 per month, 2) a balance at the beginning of each day of $1,500 or more, or 3) an average beginning day balance of $5,000 or more plus any Chase qualifying deposit or investment accounts.

Chase Total Checking®

View Offer

Chase Total Checking®

Monthly fee

$12 (waived in several ways)

Min. deposit

Chase Secure Banking℠ is also a non-interest-bearing checking account, but it comes without paper checks. The account has a fixed monthly fee of $4.95 but does not charge overdraft fees. There is no minimum deposit to open it.

Chase Secure Banking℠

Monthly fee

$4.95 or $0; Avoid the monthly service fee when you have electronic deposits made into the account totaling $250 or more during each monthly statement period.

Overdraft fees

No overdraft fees

Min. deposit

Chase Premier Plus Checking is an interest-bearing account that currently pays 0.01% annual percentage yield (APY) on all balances. There is no minimum opening deposit required. Like Chase Total Checking, the account comes with Chase Overdraft Assist, Zelle, Online Bill Pay, and account alerts. You’ll also receive reimbursement for non-Chase ATM fees four times per statement period.

Premier Plus has a $25 monthly fee, which can be waived if you 1) maintain an average beginning day balance of $15,000 or more and have Chase qualifying deposit or investment accounts, or 2) you have a qualifying Chase first mortgage enrolled in automatic payments from your account, or 3) you are a current service member or veteran of the U.S. Armed Forces with a qualifying military ID.

Chase Premier Plus Checking

APY*

0.01%

Min. deposit

ATM Fees**

Reimbursement for non-Chase ATM fees four times per statement period

Monthly fee

$25

Disclosures

*APY is subject to change
**Waived if you 1) maintain an average beginning day balance of $15,000 or more and have Chase qualifying deposit or investment accounts, or 2) you have a qualifying Chase first mortgage enrolled in automatic payments from your account, or 3) you are a current service member or veteran of the U.S. Armed Forces with a qualifying military ID.

Chase checking: Pros & cons

Pros:

No minimum opening deposit is required on any of the above checking accounts.
Total and Premier Plus checking accounts offer Overdraft Assist to help customers avoid overdraft fees.
New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities

Cons:

Two of the accounts pay no interest, and the one that does pays only 0.01% APY.
All three accounts have monthly service fees with a fee waiver capability that may be difficult to achieve consistently.

Time's Take

We don't recommend them because there are checking accounts offered by competitors that not only pay higher interest but also charge no monthly service fee.


Title	Axos Rewards Checking	Sofi Online Checking Account
APY*	Up to 3.30%	4.60%
Min. deposit	$0	$0
Monthly fee	$0	$0
	View Offer	View Offer

Review of Chase Bank savings accounts

Chase offers two savings accounts: Chase Savings and Chase Premier Savings.