Banking Bank Reviews

Chase Bank Review [2024]: Is In-Person Banking Still Worth It?

Convenience is Chase Bank’s top feature, but are the high fees and low interest rates worth it?

Updated Aug. 7, 2024
Fact checked

We receive compensation from the products and services mentioned in this story, but the opinions are the author's own. Compensation may impact where offers appear. We have not included all available products or offers. Learn more about how we make money and our editorial policies.

Chase Total Checking®

OUR VIEW

Chase Total Checking is a great option for a straightforward, everyday checking account. If I was just starting out, I would consider setting up a Chase Total Checking account due to its low opening requirements, excellent mobile app, and the fact that it is supported by a large, well-known national bank.

Compared to other checking accounts from traditional banks, the Chase Total Checking account is similar with its waivable monthly fee1 and overdraft benefits. However, where it really stands out is with its $0 minimum initial deposit and its highly rated Chase Mobile app.

Pros

No minimum initial deposit
Offers overdraft assistance2
More than 4,700 in-person branches and 15,000 ATMs
Member FDIC

Cons

$12 monthly service fee (can be waived if certain conditions are met)
$34 overdraft fee for overdrafts greater than $50
No earned interest
How we evaluate products

Chase Bank overview

Chase Bank is one of the largest banks in the U.S. by asset holdings and ranked second among J.D. Power’s National Banking Satisfaction Study in 2022. It was also named one of the Time100 Most Influential Companies in 2023, proving it’s a bank you can trust to provide what you need.

Chase offers a large variety of banking products including checking, savings, CDs, credit cards, investment products, home and auto loans. Its banking products (checking and savings) leave a little to be desired as far as interest rates, and its fees can get high if you don’t pay attention to how to waive them.

I like Chase Bank because of its convenient locations (4,800 branches in 48 states), 16,000 ATMs, and numerous banking products, especially checking accounts. I also love that it’s been around for so long; I knew it (and banked at it) growing up, so it’s a comfortable choice when I need convenience.

One thing to note is that customers tend to disagree about the level of customer service offered by Chase. While the company receives high customer satisfaction scores in the J.D. Power 2024 U.S. Retail Banking Satisfaction Study, there are many complaints about the level of service provided over the phone and in bank branches.

Types of checking accounts offered at Chase

Checking account Description APY Monthly fee
Chase Total Checking Chase’s most popular checking account with an easily avoidable monthly fee and Chase Overdraft Assist℠ to keep overdraft fees to a minimum 0% (as of Oct. 6, 2023) $12, waived if you have electronic deposits totaling $500 or more monthly, an average daily balance of $1,500 or an average daily balance of $5,000 across all Chase accounts
Chase Secure Banking Basic checking with no overdraft fees but does not support check writing or wire transfers 0% (as of 7/02/24) $4.95, waived if you have electronic deposits totaling $250 or more during each monthly statement period
Chase Premier Plus Checking Interest bearing checking account that includes free cashier’s checks, non-Chase ATM fee reimbursement (4x a month), and no monthly service fee on a Chase savings account 0.01% (as of 06/26/24) $25, waived if minimum balance over $15,000 or other criteria are met
Chase First Banking Parent-owned checking account for kids aged 6-17 that includes ATM access, parental controls, and recurring allowance 0% (as of 7/02/24) $0
Chase High School Checking Parent co-owned checking account for students aged 13-17 that’s linked to the parent’s Chase checking account and includes Direct Deposit, mobile deposit, and AutoSave 0% (as of 7/02/24) $0
Chase College Checking Checking account for college students aged 17-24 with proof of student status for up to five years and includes Zelle, online bill pay, AutoSave, mobile deposit, and waived fees on one linked savings account 0% (as of 7/02/24) $12, waived for up to five years if attending college or with a qualifying direct deposit of $500 monthly into the account
Chase Sapphire Banking A premier checking account experience with fewer fees, including less frequent overdraft foreign exchange, and wire fees; there are also higher mobile deposit limits 0.01% (as of 06/26/24) $25, but can be waived with a daily account balance of $75,000 across qualifying banking and investment accounts
Chase Private Client Checking A premier checking account with priority service with fewer fees, higher daily transaction limits and access to a private banker 0.01% (as of 06/28/24) $35 but can be waived with an average beginning day account balance of $150,000 across qualifying banking and investment accounts or a linked Chase Platinum Business Checking account

Chase Total Checking

The Chase Total Checking account is one of Chase’s most popular checking accounts and has many features that you’ll find with other checking accounts.

While it doesn’t pay interest, it includes the following features:

  • Online bill pay and banking
  • Mobile banking
  • Zelle for transferring money
  • Autosave to a linked Chase savings account
  • Chase Overdraft Assist℠

Callout box: Chase Overdraft Assist℠ helps you avoid overdraft fees by charging $0 if your overdraft is $50 or less or if your overdraft is over $50, but you bring your balance to $0 or higher by the end of the next business day.

You don’t have to keep a minimum balance, but if you don’t carry at least a $1,500 daily balance or receive at least $500 in monthly direct deposits, Chase Total Checking costs $12 a month.

Its other checking account options are either focused on a specific age group, or require much higher balances to waive fees or to be eligible.

Chase Total Checking® Benefits

  • Get a $300 bonus when you open a Chase Total Checking® account with qualifying activities; offer valid through October 16, 20243
  • Access to more than 15,000 ATMs and more than 4,700 branches
  • Manage all your accounts from the Chase Mobile® app
  • Monthly Service Fee as low as $0 when you meet qualifying electronic deposits or account balance minimums1
  • Member FDIC

Chase Savings Account Comparison

Savings account Description APY Monthly fee
Chase Savings℠ Easy access savings account for funds you want to put away, but be able to access if needed. Includes mobile and online banking, and AutoSave from a Chase checking account. 0.01% (as of 06/27/24) $5, but can be waived with one of the following: a $300 minimum daily balance, $25 in AutoSave, linked Chase College Checking℠ account, Premier Plus Checking℠, Chase Sapphire℠ checking, or Chase Private Client Checking℠
Chase Premier Savings℠ Pays relationship (higher) interest rates to Chase Premier Plus Checking℠ and Chase Sapphire℠ checking account customers who make at least five monthly transactions with their checking account 0.01%-0.02% (as of 06/26/24) $25, but can be waived with a $15,000 daily balance or when linked to a Chase Premier Plus or Sapphire checking account

Chase only offers two savings accounts and you can access mobile and online banking with either one, as is the case with many of the best savings accounts. This allows for quick check deposits using the mobile app rather than visiting a branch or ATM. You can even access your savings account from a Chase ATM. I suggest linking a Chase savings account to a Chase checking account to prevent overdraft fees if your checking account includes it.

My favorite feature of the Chase savings accounts is Autosave, which allows you to set goals and fund them over time. Setting up an Autosave goal of at least $25 a month can help you avoid the $5 monthly service fee on the Chase Savings℠ account, while helping you reach your goals.

Chase CDs

Annual percentage yield (APY) 0.01%-4.75% (as of 06/26/24)
Minimum deposit requirement $1,000
Monthly maintenance fees $0, but you will be charged a fee for early withdrawal
ATM access No
FDIC insured Yes

Chase Bank offers Certificates of Deposit (CDs) with various term lengths and interest rates. Chase offers CDs with terms ranging from 1 month to 120 months.

Like most banks, if you withdraw funds before the CD expires, you’ll pay a penalty. If your CD term is less than six months, you’ll have to pay 90 days of interest on the amount withdrawn. If your term is six months to less than 24 months, you’ll pay 180 days of interest on the amount withdrawn or 365 days of interest if your term is more than 24 months.

I suggest choosing a CD term you know you can leave untouched for the entire term. There’s no sense in paying unnecessary penalties. If you aren’t sure how long until you’ll need the money, stick with a savings account until you have a clearer picture.

Notable features

Easy access to branches and ATMs

Chase Bank is one of the largest banks in the country and has branches or ATMs in every state except Alaska and Hawaii (there is only one Chase ATM available in the entire state of HI). People who travel frequently can find a branch or ATM to use just about anywhere, which can cut down on ATM fees. You can also use the Chase mobile app to access your money, deposit checks, and pay bills. I love the convenience they offer, while combining the benefits of in-person and online banking.

Overdraft protection

Although Chase charges an overdraft fee of $34, it provides options to avoid overdrafts.

  • No overdraft fees on transactions of $5 or less
  • If you activate Overdraft Assist℠, there’s no overdraft fee for transactions less than $50
  • No overdraft fees on overdrafts over $50 that you cover by the end of the next business day

You also have the option to enable Overdraft Protection coverage. This links your Chase Savings account to your checking account. If you have enough in your savings account, Chase will automatically transfer the amount needed for the overdraft protection without a fee. If there isn’t enough in your savings account to cover the transaction, overdraft fees may apply.

I always recommend looking into your overdraft protection options and choosing the one that makes the most sense or turning off the option to approve overdrafts. The fees can add up faster than you think.

Welcome bonuses

Chase frequently offers sign-up bonuses or promotions to attract new customers. You must meet the account requirements, which vary by promotion to qualify. You can receive a new bonus every 24 months, but only one per account.

For example, they are currently running a $300 sign up bonus if you open a new Total Checking® account and make direct deposits of at least $500 within 90 days.

Who is Chase Bank best for?

Today there are numerous banking options available that don’t require a minimum deposit and pay higher interest rates, so who should use Chase Bank?

  • You prefer to bank in-person
  • A large number of ATMs nationwide is important to you
  • You prefer to bank at a large institution with a proven record

Alternatives to Chase Bank

Although Chase Bank may work well for some people, other options are available.

U.S. Bank

Like Chase, U.S. Bank has many physical locations and charges monthly maintenance fees on its checking account, which offer ways to waive them. Its fees are comparable to Chase’s and it offers an Overdraft Fee Forgiven program that waives overdraft fees if your account balance, excluding the overdraft fee, is at least $0 by the end of the day.

U.S. Bank offers a savings account that earns 0.01% (as of 07/01/24), similar to Chase, but it also has a checking account that accumulates interest. While it's not much, it’s a nice account feature. U.S. Bank also offers CD accounts starting at a minimum balance of $500 and varying interest rates depending on term length.

Visit U.S. Bank

SoFi Checking and Savings

SoFi® is an online-only bank, so there are no physical branches to visit. Its checking and savings accounts earn considerably more interest than Chase accounts, up to 4.50% APY on savings account balances with direct deposit and 0.50% (as of 08/27/24) APY for checking with direct deposit.4 SoFi is a Member, FDIC5 and has no monthly maintenance or overdraft fees.6

SoFi uses the All-Point Network, which provides access to more than 55,000 ATMs nationwide without fees7. Customers who set up a qualifying direct deposit don’t need to worry about overdraft fees on overdrafts of up to $508, and you can earn cash back when using the SoFi debit card.

Visit SoFi or read our full SoFi Checking and Savings review.

FAQ

Is Chase Bank a good bank to have?

Chase Bank could be good if you travel frequently or want quick access to in-person banking, ATMs, and a mobile app. Chase Bank earned high marks in J.D Power’s 2022 Customer Satisfaction survey and has multiple ways to access its customer service team. Before you sign up, you must understand the account requirements and fees, so be sure to do your research.

How well-rated is the Chase Bank Mobile App?

The Chase Mobile App is highly rated on both app stores. The Chase Mobile app earned 4.8 out of 5 stars on the Apple App Store and has over 5 million customer reviews. The app earned 4.4 out of 5 stars on the Google Play Store and more than 1.8 million customer reviews.

Are there any special features offered by Chase Bank that aren't commonly seen in other banks?

Although Chase Bank has many of the same features found at other banks, it provides a wide selection of checking, savings, and other accounts. In addition to their account options, Chase also provides credit cards, home and auto loans, small business and commercial banking, and even premier banking services, among other products.

How does Chase Bank handle customer complaints and issues?

Chase has multiple ways to help customers with complaints or problems with their accounts. Its website has a robust FAQ section and videos showing tasks like depositing a check on the mobile app, replacing a lost or damaged credit or debit card, or finding your account number.

In addition, customers can interact with Chase customer support on social media or over the phone by speaking with a customer service representative.

Bottom line

Using Chase Bank is a good option for people who want a well-established, safe place to keep their money. While you will likely find significantly better interest rates on savings at other banks, Chase Bank is a good place for everyday banking and a safe place to keep any cash you want immediate access to for emergencies.

Before you choose a bank, research the account options available and be sure you understand the associated fees, disclosures, and requirements for each account.

gd2md-html: xyzzy Wed Aug 07 2024

No minimum initial deposit
Offers overdraft assistance2
More than 4,700 in-person branches and 15,000 ATMs
Member FDIC

Author Details

Kate Daugherty

Kate Daugherty is a professional writer with a passion for providing others the head start they deserve on their financial journeys. Largely self-taught, Kate relied on books, blogs, and trial-and-error to learn how to budget and save for the future, all while working to pay back about $15,000 in student loans.

Author Details

Samantha Hawrylack

Samantha Hawrylack is a writer with more than five years of experience. Her work has been published in Newsweek, MarketWatch, USA Today, Rocket Mortgage, BiggerPockets, Crediful, and many more. She holds a Bachelor of Science in Finance and a Master of Business Administration from West Chester University of Pennsylvania, and she was previously a brokerage investment professional with Series 7 and 63 licenses at Vanguard.