Chase's main services: checking, savings, credit, and investment accounts
Chase offers checking and savings accounts, credit cards, personal loans, mortgages, auto loans, investment accounts, and business banking. The specific products available to you depend on whether you bank as an individual, operate a small business, or manage larger corporate finances. Chase also handles wire transfers, bill pay, peer-to-peer transfers through Zelle, and merchant services for businesses that accept card payments.
Most people encounter Chase through one of three routes: a checking or savings account opened at a branch or online, a credit card they applied for, or a mortgage or auto loan. Each service operates on different terms, has different fees, and connects to different parts of your financial life.
Key Takeaways
- Chase checking accounts come in several tiers—basic, premium, and business—each with different monthly fees, minimum balances, and ATM access.
- Chase credit cards range from no-annual-fee cards to premium cards with annual fees of $95 to $550, each offering different rewards and benefits.
- Chase handles loan origination for mortgages, auto loans, and personal loans, but loan servicing may transfer to another company after closing.
- Chase's investment services include brokerage accounts, retirement accounts (IRAs and 401(k) rollovers), and advisory services through Chase Investment Management.
- Bill pay, Zelle transfers, and wire transfers all move money through Chase's payment network, each with different speed, cost, and security features.
Checking and savings accounts at Chase
Chase offers several checking account types: Chase Total Checking (the basic option with no monthly fee if you meet one condition), Chase Premier Plus Checking (premium tier with higher fees and more benefits), and Chase Business Checking for sole proprietors and small businesses. Each account comes with a debit card, online banking, and mobile app access.
Savings accounts include Chase Savings, which earns interest but has a monthly maintenance fee waived under certain conditions, and Chase Premier Savings for customers who maintain higher balances. The interest rate on savings accounts changes based on the Federal Reserve's rate decisions and varies by account type. Chase also offers money market accounts and certificates of deposit (CDs) with fixed terms ranging from three months to five years.
Monthly fees vary: Total Checking has no monthly fee if you maintain a $500 minimum balance or set up direct deposit. Premier Plus Checking charges a monthly fee (currently $25) but waives it if you maintain a higher balance or have a may have access to linked account. Savings accounts typically charge $5 per month unless you meet balance requirements or link them to a checking account.
Credit cards and rewards programs
Chase issues credit cards across multiple categories: no-annual-fee cards (like Chase Freedom Unlimited), cash-back cards (Chase Freedom Flex, Chase Freedom Unlimited), travel rewards cards (Chase Sapphire Preferred, Chase Sapphire Reserve), business cards, and co-branded cards with airlines and hotels. Each card carries different annual fees, rewards rates, and sign-up bonuses.
Cards with no annual fee typically offer 1% to 1.5% cash back on all purchases. Premium cards with annual fees of $95 to $550 offer higher rewards rates (2% to 5% on certain categories), travel credits, concierge services, and other perks designed to offset the annual cost. Chase's Ultimate Rewards program lets you combine points across multiple Chase cards and redeem them for cash back, travel, or transfers to partner programs.
Credit card applications go through Chase's underwriting process, which pulls your credit report and checks your income and existing debt. Approval decisions come back immediately or within a few business days. If denied, you can request reconsideration or wait and reapply after addressing the reason for denial.
Loans: mortgages, auto, and personal
Chase originates mortgages, auto loans, and personal loans. For mortgages, Chase offers fixed-rate loans (15-year and 30-year terms are most common) and adjustable-rate mortgages (ARMs). You can apply online, by phone, or at a branch. The process includes a credit check, income verification, property appraisal, and title search. Closing typically takes 30 to 45 days.
Auto loans are available for new and used vehicles. Chase finances the purchase and holds the title until the loan is paid off. Interest rates depend on your credit score, the vehicle's age and condition, and the loan term (typically 36 to 72 months). You can apply online or at a dealership if the dealer partners with Chase.
Personal loans range from $500 to $100,000 (amounts vary by state and creditworthiness). These are unsecured, meaning you do not pledge collateral. Loan terms run from 24 to 84 months. Interest rates are fixed and depend on your credit score and income. After you close a loan, Chase may sell the servicing rights to another company, meaning your monthly payments go to a different servicer even though Chase originated the loan.
Investment and retirement accounts
Chase offers brokerage accounts for buying and selling stocks, bonds, mutual funds, and exchange-traded funds (ETFs). You can open a standard taxable brokerage account or a retirement account: a Traditional IRA, Roth IRA, SEP IRA (for self-employed people), or a rollover IRA for money moved from a previous employer's 401(k).
Chase also handles 401(k) plan administration for small and mid-sized businesses. If you leave an employer with a 401(k), you can roll the balance into a Chase rollover IRA. Chase Investment Management provides advisory services where a financial advisor helps you build and manage a portfolio for a fee based on assets under management.
Retirement account contributions have annual limits set by the IRS. For 2024, you can contribute up to $7,000 to an IRA (or $8,000 if you are 50 or older). Employer 401(k) contributions have higher limits. Withdrawals before age 59½ typically trigger a 10% penalty plus income tax, with some exceptions for hardship or first-time home purchase.
Money movement: bill pay, Zelle, and wire transfers
Chase Bill Pay lets you pay bills from your checking account online or through the mobile app. You enter the biller's name and account number, set the payment date, and Chase sends the money. Payments to major companies (utilities, credit card companies, mortgage servicers) typically arrive within one to three business days. Payments to smaller businesses or individuals may take longer because Chase mails a check.
Zelle is a peer-to-peer transfer service integrated into Chase's mobile app and online banking. You send money to another person using their email address or phone number. The recipient must also be enrolled in Zelle. Transfers typically arrive within minutes to a few hours, and there are no fees. Zelle does not offer fraud protection the way credit cards do, so verify the recipient's information before sending.
Wire transfers move money directly from your Chase account to another bank account, domestically or internationally. Domestic wires typically arrive the same business day if sent before the cutoff time (usually 2 p.m. local time). International wires take one to three business days. Chase charges a fee for outgoing wires (typically $15 to $25 for domestic, $15 to $45 for international). Incoming wires to your Chase account are usually free.
Business banking and merchant services
Chase Business Banking serves sole proprietors, partnerships, LLCs, and corporations. Business checking accounts include cash management tools, payroll processing, and merchant services. Chase Merchant Services lets businesses accept credit and debit card payments in-store, online, or by phone. Fees vary based on your industry, transaction volume, and the payment method (card-present transactions typically cost less than card-not-present).
Chase also offers business lines of credit, equipment financing, and commercial real estate loans. Businesses can access these through a relationship manager or by applying online. Approval depends on business revenue, credit history, time in business, and collateral.
Frequently Asked Questions
Does Chase charge fees for everything?
No. Checking accounts have no monthly fee if you meet one condition (like maintaining a $500 balance or setting up direct deposit). Savings accounts waive fees with higher balances. Zelle transfers are free. Wire transfers, overdrafts, and late payments do carry fees. Credit cards with no annual fee exist, though premium cards charge $95 to $550 per year.
What happens if I overdraft my Chase checking account?
Chase charges an overdraft fee (currently $35 per transaction) if your account goes negative. You can link a savings account to your checking account for overdraft protection, which transfers money automatically instead of charging a fee. Some accounts include overdraft protection at no cost; others charge a small fee per transfer.
Can I move my Chase mortgage or auto loan to another lender?
Yes. You can refinance a mortgage or auto loan with any lender that will approve you. Refinancing means taking out a new loan to pay off the old one. The new lender pays Chase in full, and you owe the new lender instead. Refinancing has closing costs (for mortgages) or application fees (for auto loans), so compare the savings against the cost before proceeding.
What is the difference between a Chase checking account and a savings account?
Checking accounts are designed for frequent transactions—you get a debit card and can write checks. Savings accounts earn interest but limit how many withdrawals you can make per month (though this rule is rarely enforced). Use checking for daily spending and savings for money you want to set aside and grow.
Does Chase offer fraud protection on Zelle transfers?
Zelle does not offer the same fraud protection as credit cards. If you send money to the wrong person or are scammed, Zelle cannot reverse the transfer. Only use Zelle with people you know and trust. For larger amounts or unknown recipients, use a credit card or wire transfer with verification steps built in.