Anyone use Chase Bank ?

[bigraydaddy1]

Thinking of switching to Chase for savings and checking, from a regional bank (my bank is in 2 states).
I like the idea of having access to ATM's wherever I travel.
A co worker of mine banks there and thinks it's awesome.

Do they have any hidden BS fee's that I should know about?

For a checking account, I know there is a monthly fee of $12.00 UNLESS you have $500/month direct deposited every month which is no problem.

For Savings, there is a $5.00 monthly fee UNLESS you have a daily balance of $300.00 or more, (again, no problem).
OR
At least one repeating automatic transfer of $25 or more from your personal Chase checking account.

So I take it, that If I have to have my direct deposit put into a checking account 1st, then have them automatically transfer at least $25.00 into my savings. Sound correct?
Usually, I have it the opposite, money direct deposited to my savings, then transfer $$$$ to my checking for bills.

Who banks at, and is satisfied (or unsatisfied) with Chase?

 

[Mr Mojo Lane]

I got paid on Friday but I couldn't get that money out on Saturday. Sometimes, I couldn't get that paycheck out until Monday. It would take them forever to process my direct deposit. I've never seen anything like it at any other bank

I switched to Bank of America. No issues

 

[boingyman]

I use Chase, however I use many other banks as well. It's great in the sense that they are everywhere, but to be honest I don't know the last time I needed to hit up a ATM or actually go to the actual bank. When I do need cash on seldom ocassions I usually just get cash back at a grocery store or Target/Walmart. You might be better off using an online bank that has a high APY savings account such as Ally, Discover, Syncrhony, Marcus, etc. Most have no fees, many of them have free ATM withdrawls up to a certain amount and free checking account.

I mean you could also open a Chase checking account, but leave your liquid savings in a high APY savings account, which is currently about 1.5% now a days. If you don't have much liquid savings then may not be worth it, but if you have $20k or more then it's worth it IMO, especially if you likely won't touch your savings unless in a emergency. Even $20k will get you $300 in 1 year, which is better then a few dollars at most in any big bank (Chase, Wells Fargo, BOFA, etc) savings account.

When it comes to credit cards though, Chase is ahead of the game. Their Ultimate Rewards program and credit card lineup is probably the best out there, especially for churning.

 

[bigraydaddy1]

I got paid on Friday but I couldn't get that money out on Saturday. Sometimes, I couldn't get that paycheck out until Monday. It would take them forever to process my direct deposit. I've never seen anything like it at any other bank

I switched to Bank of America. No issues

Thanks, man, those are the kind of things I mean.

 

[bigraydaddy1]

I use Chase, however I use many other banks as well. It's great in the sense that they are everywhere, but to be honest I don't know the last time I needed to hit up a ATM or actually go to the actual bank. When I do need cash on seldom ocassions I usually just get cash back at a grocery store or Target/Walmart. You might be better off using an online bank that has a high APY savings account such as Ally, Discover, Syncrhony, Marcus, etc. Most have no fees, many of them have free ATM withdrawls up to a certain amount and free checking account.

I mean you could also open a Chase checking account, but leave your liquid savings in a high APY savings account, which is currently about 1.5% now a days. If you don't have much liquid savings then may not be worth it, but if you have $20k or more then it's worth it IMO, especially if you likely won't touch your savings unless in a emergency. Even $20k will get you $300 in 1 year, which is better then a few dollars at most in any big bank (Chase, Wells Fargo, BOFA, etc) savings account.

When it comes to credit cards though, Chase is ahead of the game. Their Ultimate Rewards program and credit card lineup is probably the best out there, especially for churning.

Yeah, my savings balance is around $15,000 or so, used for repairs, car maint, etc. I have thought about an online bank for savings. If I do need $$$ for a car repair, furnace, or something out of the blue, how long does it take Ally, etc to get money to you? Or do they transfer the money to your local bank with a fee(?)

I have BofA for credit card at 7.9%, so that I am satisfied with. Chase can't compare with that, from what I've seen. There is not enough "reward" with reward cards, I believe.....

 

[DrDune]

I use Chase as a secondary bank and really like it.

I don't pay any monthly fees. I also received a $500 bonus for opening up a checking / savings account with them, and I know they ran the promotion again this year. I would ask them about it. The two major criteria were:

1) Checking must have automatic deposits totaling $500 or greater each month for a certain amount of months (might have been 3?)
2) Savings account must retain a balance of $15,000 or greater for 6 months

tldr: would recommend

 

[dc007]

I use Chase for business banking and I picked them because of all the branches they had making deposits easy. Since opening that account about 8 years ago they have closed 2 branches in my neighborhood including the one a block from my apartment making deposits a bigger pain in the ass.

I switched my personal accounts to TD and they are much better. If you maintain 2500 in your checking, they pay back any fees you get from using other ATMs so I can take money out anywhere and not pay a charge. Also internationally, I pay only the current exchange rate, saving me tons of money from currency exchange places.

 

[ithinktheymad]

Chase private client and they're the shit.

 

[bigraydaddy1]

^^^^^^^^^^^^^^^^

TD ?

I switched my personal accounts to TD and they are much better.

 

[dc007]

^^^^^^^^^^^^^^^^

TD ?

Toronto Dominion. tdbank.com

 

[Superbad]

I got paid on Friday but I couldn't get that money out on Saturday. Sometimes, I couldn't get that paycheck out until Monday. It would take them forever to process my direct deposit. I've never seen anything like it at any other bank

I switched to Bank of America. No issues

That’s strange. I’ve used chase for 8 years. My money has always been in my account around 11pm the night before pay day.

 

[VivaRevolution]

I heard satan, hitler, and all baby killers use Chase bank.

Join a credit union, or be rightfully accused of being a pedophile.

 

[TeTe]

I only use them because I have a Southwest Credit card through them.

 

[boingyman]

Yeah, my savings balance is around $15,000 or so, used for repairs, car maint, etc. I have thought about an online bank for savings. If I do need $$$ for a car repair, furnace, or something out of the blue, how long does it take Ally, etc to get money to you? Or do they transfer the money to your local bank with a fee(?)

I have BofA for credit card at 7.9%, so that I am satisfied with. Chase can't compare with that, from what I've seen. There is not enough "reward" with reward cards, I believe.....

I think it depends on the online bank, but majority is no longer then 72 hours. I would say 24-72 hours in general. Of course you could wire transfer, but I assume most have a fee. Since the $15k is basically your emergency fund then you do have to keep in mind of quick access. Our super emergency fund is in a BOFA/Chase accounts. I have seperate excess liquid (not including non-retirement investment) in CDs and high yield savings in the 1.5-2% APY range. Better then leaving it in a Chase or BOFA and only getting 0.05% or whatever

What I meant about Chase Family credit cards applies to people that churn credit cards (aka take advantage of sign-on bonuses, point building, CC perks). This means zero credit card debt, always pay credit cards on time, excellent credit score, not have a need to take out any large loans and can meet the minimum spending without overspending to get the sign-on bonsues. So it really doesn't matter what the credit card APR is, since I never pay interest. There are so many excellent Chase credit cards with sign-on bonuses and point building potential. Combined with my wife we probably got over $5000 worth of free points from Chase within the past 2 years and we are not even hardcore churners. I don't even spend more to get there. I think what makes it so much easier for us is that we can pay daycare with a credit card so it makes it so easy to meet minimum spending without overspending.

For example I just got the Chase Ink Business Cash credit card. I need to spend $3000 in 3 months to get $500, which they give in UR points (50,000 points). Since UR points for my usage is valued at least 1.5 cent per point that is free $750 worth of points. We are putting up a patio cover in the backyard and I can meet that spending with that alone. Credit card before this was one of the Chase Southwest cards that they had a free companion pass promotion + 40,000 southwest points. We travel a lot. 40k points is valued about $600. I've used the companion pass twice so far, which would cost us $200-250 each ticket otherwise. So I just save $1000-1100 from this credit card so far.

 

[HatchetHarry]

Chase is amazing. I switched to them a few years ago when they had a promo of $500 free money if you deposit 10k into savings and keep it there 6 months. Now my checking, savings, mortgage, and car payment are all through chase and on a single website. One username and password makes it so much easier to manage everything.

 

[bigraydaddy1]

Chase is amazing. I switched to them a few years ago when they had a promo of $500 free money if you deposit 10k into savings and keep it there 6 months. Now my checking, savings, mortgage, and car payment are all through chase and on a single website. One username and password makes it so much easier to manage everything.

That's convenient.