Updated
2023-06-02T02:41:50Z
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Chase Private Client Checking℠
Fees
$35 monthly service fee
Annual Percentage Yield (APY)
0.01% as of 9/29/2023
Minimum Deposit Amount
None
Pros
- Earn up to $3,000 cash bonus
- No foreign exchange rate adjustment fees
- Unlimited out-of-network ATM fee refunds
- No fees on the first 4 overdrafts during the current and previous 12 statement periods
- No incoming or outgoing wire transfer fees
- Higher deposit and withdrawal limits than other Chase checking accounts
- Free personalized checks
- Access to a Chase Private Banker
- Access to a Business Relationship Manager
- Access to exclusive offers on sport and entertainment events
- Discounts on home and auto loans
Cons
- You must have $150,000 in this account and any eligible linked Chase bank and investment accounts to qualify
- $35 monthly service fee, unless you qualify to waive it
- $34 overdraft and non-sufficient funds fees
Insider’s Take
Chase Private Client Checking℠ could be a good fit if you want access to a Chase Private Banker, Business Relationship Manager, and discounts on auto and home loans. But if you don't have at least $150,000 in a combination of your accounts, you won't qualify to open an account or to waive the monthly fee.
Product Details
- You're eligible for up to a $3,000 bonus when you open a new Chase Private Client Checking℠ account with qualifying activities.
- Speak with a Private Client Banker to open your Chase Private Client Checking account today. Schedule your meeting at your nearest branch or over the phone.
- Priority service for everyday banking. Receive personalized attention from a dedicated Chase Private Client Banker who is ready to help you.
- Earn $1,000 when you deposit $150,000 or earn $2,000 when you deposit $250,000 or earn $3,000 when you deposit $500,000.
- No ATM fees worldwide.
- No Chase fee on incoming or outgoing wire transfers.
- Enjoy higher limits on Chase Private Client debit card purchases and ATM withdrawals, as well as higher Zelle® and Chase QuickDeposit℠ limits.
- Deposit products provided by JPMorgan Chase Bank, N.A. Member FDIC. Deposit products are FDIC insured up to the maximum amount allowed by law.
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Chase Private Client Checking: Pros and Cons
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Chase Private Client Checking℠ Review
Chase Private Client Checking is relatively accessible compared to private banking at similar banks. You can qualify for an account with $150,000 in this account and any linked Chase bank/investment accounts. Many banks require more — for example, Citibank requires $1 million.
If you deposit $150,000 in new funds into a combination of accounts, you might be eligible for a $1,000 bonus. You may get $2,000 with $250,000 in new funds, and $3,000 with $500,000 or more.
With Chase Private Client Checking, you'll receive help from a Chase Private Banker and Business Relationship Manager. You can also get benefits like early ticket sales to sports and entertainment events. You won't pay foreign exchange rate adjustment or ATM fees worldwide, which is a great perk for travelers.
Is Chase Private Client Checking Trustworthy?
Chase is a Member FDIC Bank, so your Chase Private Client Checking account is FDIC-insured for up to $250,000, or $500,000 for joint accounts. This means that if Chase shuts down, your insured funds are still safe. Chase would move your money to another federally insured institution, or it would mail you a check.
Chase has an A+ rating from the Better Business Bureau. A strong BBB grade indicates that a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices.
A good BBB score doesn't necessarily mean you'll have a perfect relationship with a bank, though. Speak with friends and family who use Chase or read online customer reviews to help decide if it will be a good fit.
Chase has been involved in a couple of recent public controversies. In 2020, JP Morgan Chase & Co. paid the Department of Justice $920 million in a settlement that claimed the bank was involved in wrongful trading. In the same year, the US Department of Labor required Chase to pay $800,000 in back wages in a settlement that accused the bank of underpaying women.
Chase Private Client Checking FAQs
You need a combined balance of $150,000 in all of your eligible Chase bank and investment accounts to qualify for Chase Private Client Banking.
The main benefits of Chase Private Client Checking are access to a Private Banker, Business Relationship Manager, and discounts on auto and home loans. You could also qualify for up to $3,000 as a bonus with qualifying activities.
Private banking typically comes with higher management fees than regular banking, so before you sign up, be sure you're aware of the fee structure. Big banks that offer private banking also typically pay lower rates on savings accounts than online banks.
Methodology: How We Reviewed Chase Private Client Checking
At Personal Finance Insider, we rate products using our bank account ratings methodology. Each account receives a ranking between zero and five.
For all types of bank accounts, we look at ethics, customer service, and the bank's mobile app. For checking accounts specifically, we also evaluate minimum opening deposits, monthly fees, ATM access/fees, and overdraft protection/fees.
How Chase Private Client Checking Compares
Chase Private Client Checking vs. Chase Sapphire Banking
Chase Sapphire℠ Banking is a good choice if you want many of the same perks of Private Client Checking, but you don't have $150,000 to put into all of your linked accounts. Chase Sapphire Banking requires $75,000 to get started (and you'll waive the $25 monthly service fee if you maintain this balance).
Unfortunately, you won't get access to a Private Banker, Business Relationship Manager, or discounted loans with Chase Sapphire Banking. But you do still have free ATMs worldwide, free foreign rate adjustments, and exclusive sports and entertainment event perks.
Chase Private Client Checking vs. Chase Premier Plus Checking
Chase Premier Plus Checking℠ is one tier below Sapphire Banking, so it doesn't come with a lot of the benefits you'd get with Sapphire or Private Client Checking. It's the bank's middle-of-the-road checking account — it could be a good fit if you can't afford Private Client Checking, but some of the other Chase checking accounts are too simple for what you need.
Chase Premier Plus Checking has a $25 monthly service fee that you may be eligible to waive. It waives four out-of-network ATM fees each month and offers free Chase design checks, cashier's checks, and money orders.
Personal Finance Reviews Editor
Laura Grace Tarpley (she/her) is a senior editor at Personal Finance Insider. She oversees coverage about mortgage rates, refinance rates, lenders, bank accounts, and borrowing and savings tips for Personal Finance Insider. She was a writer and editor for Business Insider's "The Road to Home" series, which won a Silver award from the National Associate of Real Estate Editors. She is also a Certified Educator in Personal Finance (CEPF).She has written about personal finance for over seven years. Before joining the Business Insider team, she was a freelance finance writer for companies like SoFi and The Penny Hoarder, as well as an editor at FluentU. You can reach Laura Grace at [email protected].Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services »
Compliance Associate
Evelyn He is a compliance associate at Business Insider who supports the Personal Finance Insider team. Personal Finance Insider is Business Insider's personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money that Business Insider readers already know and love.The compliance team's mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions. The team also works to minimize risk for partners by making sure language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.Before joining Business Insider, she served in various legal and compliance roles in different industries, including the legal and pharmaceutical industries. Evelyn obtained her M.S. degree in Marketing at Boston University in 2022. Prior to combining and consolidating her knowledge of law and business, she spent one year finishing 1L courses at Suffolk University Law School to further her legal knowledge. She has also completed MBA business law courses while working on her Bachelor of Business Administration in Management at the University of Massachusetts, Amherst. Outside of work, she enjoys spending time with her 14-year-old Shih Tzu named Money, and her 5-year-old Bichon named Tibber.
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
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