Who is Chase Bank?
Our Chase Bank review can honestly say that Chase is one of the largest and oldest banks in American, first established in 1799. With assets totaling $2.2 trillion, Chase Bank is trusted by millions of individuals and businesses all over the world. Chase Bank has establishments in over 60 countries and provides a variety of product offerings.
Benefits
In our Chase Bank Review we’ve discovered several benefits that many customers enjoy. Since Chase Bank has been around so long, the benefits of banking with Chase Bank are many. Besides being a traditional brick and motor bank, they have also taken full advantage of online banking trends.
- Chase Bank offers one log-in for all your accounts; checking, credit cards, and savings accounts. This makes managing your accounts easier.
- Money can be transferred from your Chase checking account to your savings account in seconds.
- The website is user-friendly, and they provide a mobile app that is easy to navigate. Plus, through the mobile app you can make deposits and automate your payments.
- Chase Bank is known for providing competitive interest rates, often averaging 7-10 times the national savings average.
- Customers can text Chase Bank to receive current balance information, preventing you from dealing with overdraft protection.
- Online customer support is easy to work with as it only took a few seconds to connect with an online agent to answer questions.
- If you are a veteran, all fees will be waived on your savings and checking accounts each month.
By becoming a new banking customer of Chase Bank, you will receive incentive offers of $25-$100 based on which account you choose to open. Opening a savings and checking account with Chase Bank will provide $100 or more cash incentive offers.
Downsides
We’ve also uncovered some vitally important to know drawbacks in this Chase Bank Review. Since Chase Bank is so very large, they employ over 160,000 individuals. This can make it difficult to provide the same customer service at all of their branches. Poor customer service is the largest complaint by account holders. Other customer complaints come for a variety of different reasons.
- One downside to the Chase Bank savings account is the monthly fee. A customer must maintain $300 daily in the account OR transfer $25 monthly from your Chase checking account into your Chase savings account to avoid a $4 monthly fee.
- Account users are limited to 6 transfers from the savings account each month. This is a federal standard for all savings accounts.
- Phone support has longer hold times (approximately 5-10 minutes), and you can be transferred to multiple agents to obtain your answer regarding different accounts.
- Interest rates are subject to change. According to Chase Bank, interest rates are based on the Federal Reserve. While they do provide higher interest rates from several banks with branch locations, their operating expenses for all locations can impact your ability to obtain a higher interest rate on savings accounts.
The customer complaints stem for a variety of different reasons. Overall, the complaints are pretty basic and could be found at most any banking franchise.
Overall is Chase a Good Choice?
In conclusion of our Chase Bank Review we’ll leave you with a few important points. As with most banks, you will be charged a monthly fee if you don’t meet the specific requirements of the account. But, Chase does make it easy to avoid their fees.
Since Chase is a brick and mortar bank, the customer service can vary widely. While they do have a lot of employees available to help, the customer service can change from one person to another. New members can become frustrated with the run-around associated with opening a new account.
Chase Bank continues to make our list as one of the top banks for savings and checking accounts due to higher interest rates and large incentive bonuses.
Bank Information
National Bank
P O Box 36520
Louisville, KY 40233-6520
Customer Service Number
1-800-935-9935
Website
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