How to Open a Chase Bank Account

Chase is well known for its credit cards, especially its travel and cash back cards. However, it also offers several lending and banking products, including mortgages, auto loans, checking and savings accounts, and more. There are some impressive banking bonuses for new customers, provided you meet certain requirements. Let’s take a look at the menu.

4 steps to open an account with Chase

1. Choose an account

As mentioned, Chase offers several deposit accounts, so you’ll want to compare available options to select the right one for your situation. You can open the following types of bank accounts through Chase:

• Savings accounts.
• Checking accounts.
• Certificates of deposit (CDs).

2. Gather necessary information and documentation

When you apply for a new bank account, you’ll need to share your name, address, email, phone number, Social Security number, and other personal information. You’ll also likely need to provide documentation to help verify your identity, address, and employment. The bank may request copies of things such as your driver’s license, recent rent or mortgage statements, and recent pay stubs.

3. Apply for your new account

You can apply for most Chase bank accounts online, though you’ll need to schedule a meeting with a Chase banker to apply for a CD if you’re not an existing checking account customer. The application process is fairly straightforward, but having the above information and documentation can help expedite things.

Approval is not necessarily immediate. While Chase doesn’t specify how long its decision process takes, it could be a few business days.

4. Work toward meeting deposit requirements, if applicable

As mentioned, Chase sometimes offers bank account bonuses for new customers. If you’re approved for a new checking or savings account, work toward meeting any applicable deposit requirements to earn your bonus. For instance, through Oct. 16, 2024, you can earn a $300 bonus if you open a new Chase Checking account, provide a discount coupon, and make $500 in direct deposits in the first 90 days after that.

Types of Chase accounts

Checking accounts

Chase currently offers eight checking account options, each tailored to a different type of customer. You can choose from three everyday accounts, three student and kids accounts, and two premium accounts. Note that many of Chase’s checking accounts have monthly maintenance fees, but the bank will waive these fees if you meet certain requirements.

Available accounts are as follows:

• Chase Total Checking.
• Chase Secure Banking.
• Chase Premier Plus Checking.
• Chase First Banking.
• Chase High School Checking.
• Chase College Checking.
• Chase Sapphire Banking.
• Chase Private Client Checking.

Savings accounts

You have fewer options if you’re interested in opening a new Chase savings account, as the bank currently only has three. Its Chase Savings account is the everyday savings option, while Chase Premier Savings is best for higher balances. The Chase Private Client Savings account is only available to those who hold a Chase Private Client Checking account and is tailored to those who need investment guidance.

CDs

Chase has CDs with terms ranging from one to 120 months and APYs ranging from 0.02% to 2.50% (as of Aug. 20, 2024). You can get special, more generous “relationship rates” on two-, three-, and nine-month CDs if you link them with a qualifying Chase checking account: 3.25%, 4.75%, and 4.00%, respectively. Interest on Chase CDs is compounded daily and paid out monthly, quarterly, semi-annually, annually, or at maturity.

How to choose the right account at Chase

To find the best possible Chase bank account for your needs, you need to think about the following:

• Account purpose. Start by considering the account’s purpose. Are you looking for a day-to-day spending account? Are you saving for a medium-term goal? The type of account you need will guide your search in the right direction.
• Rates. Whether you choose a savings account or CD, you should compare account annual percentage yields (APYs). Your APY determines how much interest you earn on your balance.
• Fees. Monthly fees apply for many Chase checking accounts, though most can be waived by meeting certain deposit requirements, and other fees may also be charged. Review your prospective account’s deposit agreement for the details.
• Bonuses. Chase periodically offers some fairly generous account bonuses if you meet certain conditions. These usually involve depositing a set amount of money and maintaining a certain balance, both within a specific time period.

Why choose Chase?

Chase’s generous account bonuses are a major factor setting it apart from competitors. Through Oct. 16, 2024, if you open qualifying accounts and meet certain requirements, you could earn bonuses of up to $900.

Additionally, Chase is a very accessible bank. It has more than 16,000 Chase ATMs nationwide and 4,700 branch locations, making it easy to retrieve your money. Chase also offers a robust online banking platform and intuitive mobile apps for its customers.

TIME Stamp: Chase has a lot of offer, but beware of monthly service fees

In addition to its popular credit cards, Chase offers several bank account options. You can choose from multiple checking, savings, and CD accounts, each suitable for different customers and savings goals. Compare accounts, rates, fees, and bonuses to find the best option for your situation.

Frequently asked questions (FAQs)

Does Chase give you $300 for opening an account?

Yes. If you open a new Chase Checking account, you are eligible for a coupon code. If you make direct deposits totaling $500 within 90 days after applying the code, you’ll get a $300 bonus. Alas, the offer expires on Oct.16, 2024.

How much does it cost to open a Chase checking account?

Nothing. Opening a Chase checking account is free, but you might pay monthly service fees, which can reach as much as $35. However, they can generally be waived by meeting certain requirements, such as maintaining a minimum balance.

How can I get $900 from Chase?

Through Oct. 16, 2024, you can earn $900 from Chase if you simultaneously open new Savings and Total Checking accounts and meet the deposit and minimum balance requirements.