What You Need to Do to Open a Trust Account at Chase
To open a trust account at Chase, you will need to visit a branch in person with the trust document itself, a government-issued ID, and the names and Social Security numbers of all trustees and beneficiaries. Chase does not allow trust accounts to be opened online or by phone—the bank requires a signature from at least one trustee on the account opening forms, and they need to verify the trust document is authentic. The process typically takes one to two weeks from the day you submit everything, though Chase may ask for additional paperwork if the trust language is unclear or if the trustee information is incomplete.
The trust document is the centerpiece of this process. Chase will review it to confirm who has authority to manage the account, what the trust's purpose is, and whether any restrictions apply to how money can be withdrawn. If you do not yet have a trust document, you will need to work with an attorney to create one before Chase can open the account. Chase will not draft or interpret the trust for you—they will only verify that it exists and is signed.
Key Takeaways
- You must open a trust account in person at a Chase branch with the original or certified copy of the trust document and a government-issued ID.
- Chase requires the names, Social Security numbers, and dates of birth for all trustees and beneficiaries before the account can be funded.
- The account will be titled in the name of the trust (for example, "The Smith Family Trust, dated January 15, 2020"), not in individual names.
- Trust accounts at Chase are subject to the same FDIC insurance limits as regular accounts—$250,000 per depositor per bank, which means the coverage does not increase just because money is held in trust.
Documents and Information You Will Bring to the Branch
Bring the original trust document or a certified copy. Chase will not accept a photocopy or a digital image. If you have a certified copy from your attorney, that works. If you only have the original, bring that. Chase will make a copy for their records and return the original to you.
Bring a government-issued photo ID—a driver's license, passport, or state ID card. If you are opening the account as a trustee but the trust names multiple trustees, each trustee who will have signing authority on the account should be present, though Chase may allow one trustee to open it if the trust document gives that trustee full authority to act alone.
Bring the full legal names, Social Security numbers, and dates of birth for all trustees and all beneficiaries named in the trust. Chase will enter this information into their system. If the trust is revocable and you are also the beneficiary, you still need to provide your information twice—once as trustee and once as beneficiary.
How Chase Titles and Manages the Trust Account
The account will be titled exactly as the trust is named in the document. If your trust is called "The Johnson Revocable Living Trust, dated March 3, 2023," that is how it will appear on the account. The account is not in your personal name; it belongs to the trust itself. This matters for tax reporting and for how Chase handles the money if a trustee dies or becomes incapacitated.
Chase will designate which trustees have signing authority based on what the trust document says. If the trust says any trustee can act alone, all trustees can withdraw money and make decisions. If it says all trustees must sign together, Chase will require all signatures on withdrawal requests. If it names a successor trustee to take over if the primary trustee dies or resigns, Chase will need that person's information too, though they will not have authority until the primary trustee steps down.
You will need to choose what type of account to open—a checking account, savings account, or money market account. Trust accounts earn the same interest rates as regular accounts at Chase, and they are subject to the same monthly fees. Some Chase checking accounts waive fees if you maintain a minimum balance; that minimum applies to the trust account the same way.
FDIC Insurance and How It Works for Trust Accounts
Money in a Chase trust account is insured by the FDIC up to $250,000 per depositor per bank. This is the same limit as a regular personal account. The fact that the money is held in trust does not increase the insurance coverage. If the trust has $500,000 and you are the only beneficiary, only $250,000 is covered; the rest is uninsured.
If the trust names multiple beneficiaries, the FDIC coverage may be higher. Each beneficiary's share of the trust is insured separately up to $250,000, as long as the beneficiary's share is clearly defined in the trust document and the account is titled to show it is a trust account. Chase will explain this when you open the account, but you should also ask them directly how much of your specific trust balance is covered.
This is a reason some people with large trust balances open accounts at multiple banks—to spread the money across different institutions and ensure all of it is insured. Chase cannot advise you on this strategy, but your attorney or financial advisor can.
What Happens After You Open the Account
Once the account is open, you can deposit money by check, wire transfer, or ACH transfer. If you are moving money from another account into the trust account, make sure the sending bank knows the receiving account is a trust account—some banks flag trust transfers as unusual activity and may delay them. Provide the receiving bank's routing number and the full account title to the sending bank.
You can withdraw money using a debit card (if you opened a checking account), checks, or wire transfer. Some withdrawals may require all trustees to sign if the trust document says so. If you need to make a large withdrawal or wire, call Chase ahead of time to confirm they have everything they need from you.
If a trustee dies or resigns, you will need to notify Chase and provide documentation—usually a death certificate or a letter from the remaining trustees. Chase will update the account to remove that trustee's authority. If a new trustee takes over, you will need to bring that person to the branch with their ID so Chase can add them to the account.
Why Chase May Reject or Delay Your Trust Account Opening
Chase may ask for more information if the trust document is unclear about who has authority, if beneficiary names do not match Social Security records, or if the trust is very new and Chase wants to confirm it was not created to evade taxes or hide assets. This is standard compliance work; it does not mean anything is wrong with your trust.
Chase may also delay if you cannot provide a certified copy of the trust document or if a trustee cannot come to the branch in person when the trust requires multiple signatures. Some trusts are written in ways that make them difficult for banks to administer—for example, if the trust gives discretionary authority to a trustee but does not clearly define what that means. If this happens, Chase will tell you what language they need clarified and you may need to work with your attorney to provide a letter of explanation.
If you have a trust from another state, Chase will still open the account, but they may ask for additional paperwork to confirm the trust is valid in that state. This is especially true for trusts created in states with very different trust laws.
Frequently Asked Questions
Can I open a trust account online or by mail?
No. Chase requires at least one trustee to appear in person at a branch with the original or certified trust document and a government-issued ID. The bank needs to verify the document is real and get a signature on their account opening forms.
Do I need a lawyer to create the trust before I open the account?
Yes. Chase will not open an account without a signed trust document. If you do not have one, you will need to work with an attorney to create it. Chase cannot draft the trust for you or recommend an attorney.
What if I am the only trustee and the only beneficiary?
You still need to provide your information twice—once as trustee and once as beneficiary. Chase will list both roles on the account. The FDIC insurance limit remains $250,000, not higher, because you are one depositor.
Can I use a trust account to avoid probate?
That depends on how your trust is written and what state you live in. A trust account itself does not avoid probate—the trust document does. Chase can tell you how the account works, but you should ask your attorney whether a trust account is the right tool for your situation.
What if the trust document says the trustee needs court approval to withdraw money?
Chase will honor that restriction. You will need to bring court approval documents to the branch before Chase will process the withdrawal. This is rare but does happen in some trusts created by courts or in trusts with special conditions.