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Chase Bank Review 2022

Updated December 5, 2022
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At a glance

3.5
Rating: 3.5 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 2.5 stars out of 5

Checking

Rating: 4.2 stars out of 5

Savings

Rating: 2.7 stars out of 5

About Bankrate Score

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Overview

Chase is a great option if you like having quick access to branches and ATMs — and you live where the bank operates.

Highlights

  • 24/7 Customer Service
  • Digital Leader
  • Large Branch Network
Compare offers
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 3.5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.85
%
APY
Rating: 3.5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.75
%
APY
Rating: 3.5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right

Overall

With a massive branch network and breadth of product offerings, Chase is often viewed as the country's signature banking institution. Customers can choose from a full range of banking services, including checking and savings accounts as well as CDs. But if you’re looking for a bank that pays competitive rates, you’ll want to look elsewhere.

Pros

  • Checkmark

    Chase has more than 4,800 branches and 16,000 ATMs.

  • Checkmark

    The bank’s mobile app is consistently high-rated.

  • Checkmark

    Chase often rewards new customers with bonuses for opening an account.

Cons

  • Rates on Chase’s savings accounts and CDs are very low.

  • The bank charges a $3 fee at out-of-network ATMs in the U.S.

  • Chase’s basic accounts don’t reimburse out-of-network ATM fees.

Chase Bank bank products

2.7
Rating: 2.7 stars out of 5
Bankrate Score

Chase Bank savings overview

The Chase Savings account interest rate is well below the national average, and all balances receive the same APY. Customers should have no problem finding savings accounts that pay a higher yield, especially at online banks. This account doesn’t have a minimum balance requirement. It charges a $5 monthly service fee, but customers can take some manageable steps to waive the fee, such as maintaining a $300 daily balance. A recurring $25 transfer from your Chase checking account to your Chase Savings account can also waive that monthly fee.For customers who have a “premier plus” relationship with the bank, the Chase Premier Savings account pays a slightly higher yield, but it’s also well below the national average. To earn the premier rates, customers must link their accounts to a Chase Premier Plus Checking or Sapphire Checking account and make at least five transactions in a monthly statement period using the linked checking account.

Pros

  • Checkmark

    The monthly fee is waived when customers meet one of a few manageable requirements.

  • Checkmark

    Chase’s autosave feature can help you create goals and save for them.

Cons

  • The yields on both savings accounts are very low.

  • Customers must take monthly steps to earn the (still low) premier relationship APY.

  • The Chase Premier Savings account has a $25 monthly maintenance fee if you don’t qualify to have it waived.

  • Chase charges a $5 fee for each transfer or withdrawal from your Chase savings account that exceeds six during a monthly statement cycle.

Compare Offer
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 3.5 stars out of 5
InfoHover for more
$0
Min balance for APY

Bank experience

Chase offers access to more than 4,800 branches and 16,000 Chase ATMs. The mobile app and website allow you to send money to anyone, pay your bills, and create a budget and track your spending.

In addition to receiving support over the phone, Chase customers can also send a message in the Secure Message Center when logged onto the website or app. The Chase Digital Assistant, available in the app, is a bot that can answer common questions.

Chase checking account holders earn cash back by using their debit cards at certain merchants.

Chase customers can pay and receive money from others through Zelle.

Chase credit cards are popular for their value and versatility, including the option to redeem your rewards for boosted value through the Chase Ultimate Rewards portal. The Chase Sapphire Preferred® Card offers a generous sign-up bonus on top of premium travel rewards and perks.

About Chase Bank

Chase Bank is the consumer banking arm of JPMorgan Chase, one of the largest banking companies in the U.S. Chase offers a full range of banking services, including checking and savings accounts, as well as CDs. The bank, which can trace its roots to 1799, has grown through several signature mergers over the years, including one with Bank One Corp. in 2004 and its 2008 acquisition of the deposits and most of the assets of the failed Washington Mutual. Chase is actively expanding its retail banking presence. The bank is in the middle of an expansion to open 400 branches in new markets.

If you like having quick access to branches and ATMs — and you live where the bank operates — Chase is an obvious choice. If you’re hunting for high rates or want to be able to use the first ATM you see without paying a high out-of-network fee, look elsewhere.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.