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Chase Bank VS DCU

Which bank is better for you?

  • Financial Rates: 3.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 3.0 Star Icon
0.01%APY
Savings/MMA
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Pros:

  • Chase Pay
  • Chase Liquid
  • Credit Journey
  • Chase QuickDeposit

Cons:

  • Products Not Offered Everywhere
  • Accounts Have Fees
  • High Opening Amount
  • High Daily Balances
  • Financial Rates: 4.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 4.0 Star Icon
No Rate Information
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Pros:

  • Variety of accounts offered
  • Competitive interest rates for savings
  • Only one DCU account has a fee
  • Low opening required amounts

Cons:

  • Must become a member first
  • Tiered interest rates on MMA
  • High balances to earn interest
  • Only one withdrawal per month for Ltd
Chase Bank Review

Chase Pay is a digital wallet. It makes purchases easy. Pay for gas without getting out of the car. Pay without transferring your card number to websites and apps with the Chase Pay logo. You can use the QR code at stores. Coupons are automatically added to your favorite stores.

Chase Pay lets you use your Chase Ultimate Reward points to make purchases. This keeps your information secure and up to date. Thousands of places accept Chase Pay including Walmart and Best Buy. You still earn reward points when you use Chase Pay. This cannot be used with subscriptions like Netflix or Amazon Prime or outside the U.S.

Chase Liquid is a reloadable card. Opening deposit is $25. Money is directly deposited on the card. Money can be deposited through Chase QuickDeposit, direct deposits, or you can transfer money from other accounts to the cards. With the Chase Liquid card, you can make purchases, withdraw cash, pay bills, and use Zelle. It offers zero liability protection for unauthorized transactions. There is a $4.95 monthly fee to use Chase Liquid.

Chase Credit Journey helps get your credit under control. This is free to anyone, not just Chase customers. Get email alerts about changes to your credit. Check your credit score anytime for free, without hurting your score. Credit Journey shows how credit is affected when debts are paid off, or new accounts opened. Using this tool helps prevent fraud.

Deposits are easy with Chase QuickDeposit in the Chase Mobile App. Snap a picture of your check and follow the instructions. Make a deposit anytime, anywhere from a mobile phone or tablet. Step-by-step instructions are on their website.

Not all Chase products and features are offered in all areas. Input your zip code to learn what products are available in your area.

All Chase accounts, except CDs, have fees. Savings and checking accounts have a monthly maintenance fee. The fees range from $5 to $25. Waive fees by having a minimum balance in the account, or by linking a checking and savings account together. Direct deposits or automatic payments waive the monthly fees as well.

Every account with Chase needs a minimum of $25 to open. Some accounts require $100 as the opening balance.

Savings and checking accounts require a daily balance to avoid fees. The daily balances range from $1,500 to $100,000. If you cannot maintain this amount, you will have to use one of the other ways to have your fees waived.

Read the full Chase Bank review.

DCU Review

Digital Federal Credit Union offers a wide variety of personal deposit accounts. They offer a savings, money market, and holiday savings accounts. They offer two checking accounts and a variety of CD terms, including jumbo and rate bump CDs. Once you become a member of DCU, you can open any of these accounts online. DCU also offers business accounts.

The primary savings account offers competitive interest rates. For the first $1,000, you earn a very high interest rate. Any amount over $1,000 earns a lower rate. Between the two rates, the account earns competitive interest rates. The primary savings account is the account you must open to become a member of DCU.

Only the DCU Dividend Checking account has a monthly fee. All other accounts do not have a monthly fee. The amount required to keep in the checking account to waive the monthly fee is $2,500. The other DCU accounts do not have a required amount to keep in the account to avoid a fee.

The required amounts to open DCU accounts are low. The highest amount required to open a checking or savings account is $5. To earn interest for some accounts requires a larger balance. However, to open the accounts does not have a high required amount. The CDs require $100 or $500, depending on the CD. The jumbo CDs do require $25,000 to open.

To open an account with DCU, you must become a member of the credit union. To become a member requires opening a Primary Savings Account with at least a $5 balance. Once you open that account and become a member, you can open any other DCU account.

The DCU money market account has tiered interest rates. To earn the most competitive interest rates requires a large balance. The most competitive rate requires a balance of at least $100,000. Lower balances earn interest, just not the most competitive rate.

The Ltd savings account through DCU has a high required balance to earn interest. This account requires a balance of $25,000 to earn any interest. Any balance over $25,000 earns the most competitive rate, but balances below do not earn any interest.

Only one free withdrawal is allowed each month from the Ltd savings account. For every other withdrawal, there is a fee of $25 per withdrawal. To earn interest on this account requires a balance of $25,000. There is no required amount to open the account.

Read the full DCU review.

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