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Chase Bank Review: All-In-One Bank With Big Branch Network

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Chase Bank maintains its status as one of the largest and most popular banks in the nation by offering a variety of accounts to suit customers of all financial means. Though it has a large branch network, it offers all the tools you need to bank online if you prefer. Its interest rates fall far short of what you can find with online banks, but loyal Chase customers who keep a lot of money in the bank can earn slightly better rates as well as discounted fees and other perks. Read our in-depth Chase Bank review to see if it's the right fit for you.

Best For: Diverse banking offerings and branch access

Chase

Rating image, 4.00 out of 5 stars.
Info Icon Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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4.00/5
Bottom Line

Chase offers one of the largest branch networks in the nation, without neglecting the online experience, offering simple online and mobile tools to manage your funds. If you have one account with Chase, there's a good incentive to open up one or two more, with the bank's relationship benefits. What's more, the bank shines with its overall customer service.

Pros
  • Large, nationwide branch network
  • Rewards for customer loyalty
  • User-friendly online and mobile banking tools
  • Good customer service ratings
  • Multiple checking and savings accounts options
Cons
  • Low APYs on savings accounts and CDs

Chase Bank savings accounts

Chase gives its customers a choice between two savings accounts: the Chase Savings℠ account and the Chase Premier Savings℠ account.

Chase Savings℠ account

The Chase Savings℠ account charges a low monthly fee. However, customers can easily waive this fee and enjoy the account's perks for free. Managing your account is pretty simple -- Chase offers a variety of online and mobile tools. One helpful tool is an automatic savings feature. With it, Chase customers can save money painlessly and track their progress.

The bank also offers physical locations for customers who prefer banking the old-fashioned way. In fact, it maintains one of the largest branch networks in the nation: over 4,700 branches and 16,000 ATMs nationwide. Unfortunately, like most brick-and-mortar banks, the Chase Savings℠ account carries unimpressive interest rates.

Chase Premier Savings℠ account

The Chase Premier Savings℠ account is a better fit for people who keep significant funds in their Chase Bank accounts. This account rewards faithful customers for their loyalty. In addition to all the benefits of the Chase Savings℠ account, you'll have the opportunity to earn Premier relationship rates.

These superior rates vary according to the amount of money you keep in the account, and they still aren't close to what you'd find with an online savings account. Nevertheless, they're better than those of your average brick-and-mortar bank. If you choose this account, make sure you're able to waive the monthly maintenance fee. Paying the fee could mean losing what you're earning in interest (and then some).

Compare savings accounts

If your primary goal is to find a savings account with a high APY, you'd do better with an online bank. Here are a few options you may want to consider.

Rates as of Sept. 30, 2022
Offer
 
 
 
Account
Rating
Rating image, 4.00 out of 5 stars.
Info Icon Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.00/5
Rating image, 4.00 out of 5 stars.
Info Icon Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.00/5
Rating image, 4.50 out of 5 stars.
Info Icon Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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4.50/5
APY 2.15% 2.00% 2.70%
Min. to earn APY $0 $1 $100
Next Steps

Chase Bank CD accounts

Chase offers a single type of CD. However, it comes with a variety of terms.

Chase Standard CDs

You can open a Chase Standard CD with as little as $1,000. You'll earn better rates if you're able to stash away larger sums, but they're still low compared to interest rates offered through online banks. Terms range from one month to 10 years, which is a greater spread than you find with many other banks. Chase is a solid option if you're looking for less common terms for your CD or CD ladder. As with most CDs, you'll pay an early withdrawal penalty if you remove the funds before the CD term is up.

Compare CD rates

Chase CDs can't compete with the CD rates offered with online banks, including the handful of top CD picks compared below.

Rates as of Sept. 28, 2022
Lender
Account
1 yr. apy
2 yr. apy
3 yr. apy
4 yr. apy
5 yr. apy
Min. deposit
Early Withdrawal Penalty
Next Steps
Logo for Discover High Yield CD
Member, FDIC
3.00%
3.10%
3.15%
3.20%
3.30%
$2,500
Yes
Logo for Marcus by Goldman Sachs High Yield CD
Member, FDIC
Marcus by Goldman Sachs High Yield CD
3.00%
3.10%
3.15%
3.20%
3.30%
$500
Yes
Logo for CIT Bank CD
Member, FDIC
0.30%
0.40%
0.40%
0.50%
0.50%
$1,000
Yes

Chase Bank checking accounts

Chase Bank offers numerous checking accounts, which are described below:

Chase Total Checking® account

The Chase Total Checking® account is Chase's most popular option. It has a modest, waivable monthly fee and it offers access to the banking services most people need. These include ATM access and check-writing capabilities. But it's missing some flashier perks, like ATM fee reimbursements, that you find with some of Chase's other checking accounts.

Chase Premier Plus Checking℠ account

The Chase Premier Plus Checking℠ provides four free out-of-network ATM withdrawals per statement cycle. Premier Plus Checking℠ customers can also open additional linked Chase checking accounts with no monthly fee. If you use checks, you'll enjoy waived fees on select check designs. You'll earn interest on your Chase Premier Plus Checking℠ account funds too. It's pretty rare to find interest-bearing checking accounts (even more unusual for brick-and-mortar banks). Although the rate isn't high, this is still a plus.

Chase Sapphire℠ Checking account

The Chase Sapphire℠ Checking account expands on the benefits of the Chase Premier Plus Checking℠ account. This account offers no ATM fees worldwide, the opportunity to earn interest at Premier relationship rates, and up to nine fee-free linked Chase checking accounts. Chase Sapphire customers can also call a dedicated 24/7 support line l if they experience any issues. But unless you have at least $75,000 in your Chase bank accounts, you'll pay a high monthly fee.

Chase Secure Banking℠ account

The Chase Secure Banking℠ account is a bare-bones checking account with a low monthly fee, but there's no way to waive it. The account is also missing some common features, like check writing and overdraft options, that you see with most other checking accounts. For that reason, it probably won't appeal to customers as much as Chase's other options.

Chase First Banking℠ account

The Chase First Banking℠ account is designed for children 6 and older. To sign up your child, you must have an eligible checking account with Chase to link to your child's account. Once your account is set up, you can transfer funds to your child's account and monitor their spending. The Chase First Banking℠ account also includes a debit card for your child to use and built-in savings tools to help them learn about money management.

Chase High School Checking℠ account

The Chase High School Checking℠ account is designed for children 13 to 17. Like the First Banking℠ account, there's no monthly fee, but you must link the account to a qualifying Chase checking account.

Chase College Checking℠ account

The Chase College Checking℠ account is designed for college students 17 to 24. It has no monthly fee while you're enrolled in school with a waivable fee for those who are no longer attending college. It's similar to the Chase High School Checking℠ account but doesn't require a linked parent account to open.

Chase Private Client account

A Chase Private Client account is intended for those who keep large sums in their bank accounts. It has no ATM fees or overdraft fees (for the first four overdrafts during the current and previous 12-month statement periods). Plus, you can earn interest on your balance. However, you can only open one of these accounts at a branch and you need a large daily balance to avoid its monthly maintenance fee.

Chase Bank customer service and experience

Chase Bank has received some pretty strong customer satisfaction ratings, earning the highest score in J.D. Power's 2021 Retail Banking Satisfaction Study in four regions and scoring above the average in all the other regions surveyed.

That's not to say the bank hasn't received its fair share of complaints. But as one of the largest banks in the nation, complaints are unavoidable. The fact that Chase is able to maintain such high ratings suggests it does a good job of handling customer complaints when they arise.

Chase Bank relationship benefits

Chase Bank offers several types of relationship benefits. Most are aimed at Chase Sapphire customers. If you belong to this elite group, you'll earn access to the best interest rates Chase offers, no ATM fees nationwide, commission-free investing with J.P. Morgan Self-Directed Investing, and no monthly service fees on select Chase accounts.

It's still possible to take advantage of relationship rates, even if you lack the whopping $75,000 average balance required to become a Chase Sapphire member. That said, the more money you store with Chase, the greater your rewards will be.

Alternatives to Chase Bank

There's a good reason Chase Bank is one of the most popular banks in the nation. Nevertheless, it's not a great fit for everyone. Here are a couple other banks that may interest you.

Bank of America

Some people are most comfortable sticking with a brick-and-mortar bank that has an office right in their neighborhood. While its network isn't quite as large as Chase's, Bank of America is still one of the largest banks in the country. Its relationship benefits are more plentiful than Chase's, and they're easier to achieve. In addition to the usual discounted fees and better interest rates, Bank of America also offers loyal customers discounts on loans and credit card rewards bonuses.

CIT Bank

If you're disappointed by Chase's low APYs, try CIT Bank. This popular online bank has impressive rates on savings accounts and CDs. In fact, its rates are well above what you'll find with most brick-and-mortar banks. CIT Bank also offers an interest-bearing checking account. Relationship benefits aren't common with online banks, and CIT Bank doesn't offer any benefits to customers that do all of their banking with them. But given how high its rates are, CIT Bank doesn't really need relationship benefits to entice customers to join.

Is Chase Bank right for you?

Chase Bank could be the right home for your money if:

  • You have a lot of money to deposit and you want to manage it in one place.
  • You want the option to bank in person if you need assistance.
  • You like being rewarded for being a loyal customer.

RELATED: How To Open a Checking Account

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