You want to know how to open a chase bank account? Well, today we will explain step by step how to do it, how much money you need to open a Chase account and we will also tell you all the requirements to open a Chase Bank account. But first a little history about this bank.
- 1 Brief history of Chase Bank
- 2 How to open an account at Chase Bank
- 3 1. Choose the Chase Bank account you want
- 4 2. You are eligible to open a Chase Bank account
- 5 3. Open the account
- 6 4. Make the initial deposit
- 7 How much money do I need to open a Chase account?
- 8 What is Chase Bank’s monthly maintenance fee?
- 9 How much does Chase Bank charge for international transfer?
- 10 How much does Chase Bank charge to withdraw money at ATMs?
Brief history of Chase Bank
The history of Chase Bank begins in 1799 in New York City, when it was founded to supply drinking water to the city’s population. Today, it is a full-service financial institution with approximately 4,900 branches and approximately 16,000 ATMs. It belongs to the JP Morgan Chase corporation and is one of the 4 largest banks in the United States. To start using their services you should know how to open a chase bank account, we will explain it to you right away.
In its 200-year history, more than 1,200 institutions have come together to form the largest financial institution in the United States, with $2.6 trillion in assets worldwide. Although it does not have branches in all the states of the union, Chase Bank is one of the institutions with the most agencies on the street. In our article “Chase Bank Hours”, you will be able to know its opening and closing hours so that you can make your arrangements personally when you need it.
How to open an account at Chase Bank
Actually there are several aspects that we must consider when open a chase bank account. For example, what type of account to open, what documents to bring and what steps we must follow to open the account.
All of this at once could be confusing, especially if it’s your first bank account. For anyone new to banking, it will be helpful to get the guidance you need to carry out this process correctly.
Then, How to open an account at Chase Bank?
Actually, although it is necessary to meet some requirements, opening a Chase account is faster and easier than many imagine. Below is a quick guide to help you with the account opening process at Chase Bank. You should also know that Chase offers many great banking options and even some checking account bonuses to jump start your banking experience.
1. Choose the Chase Bank account you want
As a first step in the opening process, it is important to know the bank accounts offered by the bank and identify the one that best suits your conditions and needs. Next, we will describe some of the options.
Chase Total Checking + Chase SavingsSM account
This Chase option is ideal for new customers who just want a standard bank account. Chase Total Checking Checking is actually the most popular checking account. Although there is a monthly service charge, you can always waive it by meeting any of the requirements that the bank requests for this purpose.
Chase Premier PlusSM Checking Account
This interest-bearing account has a $25 monthly service fee that waived when you maintain an average beginning day balance of $15,000 or more, between this and your other eligible Chase accounts. There is no Chase fee on the first four transactions (per statement period) at non-Chase network ATMs.
Chase Sapphire CheckingSM Checking Account
This account has multiple advantages, including zero ATM fees worldwide, higher ATM and purchase limits with your Sapphire Bank Debit Card, zero wire transfer or stop payment fees. Free online stock and ETF trading. Zero foreign exchange rate adjustment fees on ATM withdrawals or debit card purchases made outside the United States. No fee for the first four overdrafts within 12 months.
Chase CollegeSM Checking Account
First of all, you should know that if you meet the requirements when contracting this account you can receive a bonus. This account is similar to the Total Current Account, however, its monthly service fee is waived for the first 5 years and if you are between 17 and 24 years old.
Chase Private Client Account
This is one of Chase’s premium accounts. With it you receive priority service, family benefits, business tools, support 24 hours a day, 7 days a week, and financial specialists when you need them. You also get an exclusive interest rate on savings accounts, discounted rates on loans, higher limits on money transfers with Chase QuickPay® with ZelleSM. It is worth noting that although the requirements for this account can be very demanding, offers a wide variety of features that can be very useful.
Chase Savings account
This account has a monthly service charge of $5 but you can avoid it by meeting certain conditions. There is a $5 savings account withdrawal over-limit fee for exceeding the 6-withdrawal or transfer maximum. Miscellaneous charges apply. Accumulate interest. You can opt for the Automatic Savings program. Mobile and digital banking. Access to 16,000 automated teller machines (ATMs) and more than 4,700 branches. FDIC insurance protection
2. You are eligible to open a Chase Bank account
To open any type of bank account they will ask you for some documents to verify your identity. Apart from presenting these documents, you must make an initial deposit.
Depending on the account you’re opening, the initial deposit may be different, so be sure to clear this up with Chase. The conditions of each account may also vary.
Usually, Chase Bank will ask you for the following documents to open an account:
- official identification
- Proof of residency (mail with your address on it)
- Social Security Card
- initial deposit
Acceptable forms of government identification:
- Driver’s license
- State issued photo ID
- Military Photo ID
- US passport
3. Open the account
Once you gather the documents and you are clear about which account you want to open, you can go to the nearest agency to complete the account opening process at Chase Bank. If you wish to open an account online, you can do so by entering the bank’s website by following this link.
How to open a Chase Bank account online?
If you are a US resident, follow these steps to open your account online:
- Go to the Chase Bank page and go to the checking or savings accounts section.
- Select the account you have chosen and click on “open an account”
- Indicate if you are already a Chase customer and click “next”
- Include the requested data (personal data and address) and click on “next”
- Select the type of account you want
- Review the information you have provided and confirm your request
Note: If you are not a US resident, you will not be able to open a Chase Bank account online.
4. Make the initial deposit
Depending on the type of account, to complete its opening, you must make an initial deposit. In some accounts they will not require this deposit to formalize the opening and in others they will. We recommend that you confirm this requirement with Chase before choosing the account you wish to open.
In some accounts they will not require an initial deposit to formalize the opening. However, we recommend that you confirm this requirement with Chase before choosing the account you wish to open.
How much money do I need to open a Chase account?
Chase Bank does not charge fees for opening accounts. But nevertheless, to complete the opening process of some accounts you must make an initial deposit. For example, in the Chase Savings account you will have to make a deposit of $25 and in the Chase Premier Savings account you will have to deposit $100.
You should also think about the account maintenance fee, which, if you do not meet the exemption requirements, is an expense that you will have to assume monthly. Therefore, although they do not require a minimum amount to open an account, You must deposit a reasonable amount that allows you to cover the maintenance fee or monthly fee.
What is Chase Bank’s monthly maintenance fee?
Chase will charge you an account maintenance fee. That fee will be debited from your account every month, unless you meet the exemption requirements which typically vary by account.
Below you will find the monthly fees for Chase Bank accounts
- Chase Savings account: $5
- Chase Premier Savings Account: $25
- Chase Total Checking Account (the most popular): $12
- Chase Premier Plus Checking Account: $25
- Chase Sapphire Checking Account: $25
- Chase College Checking: $6
- CHave Private Client Checking: $0
Keep reading: How to avoid the monthly fee at Wells Fargo?
How much does Chase Bank charge for international transfer?
If you make them through Online Banking, Chase will not charge you for foreign currency (FX) transfers greater than $5,000 that you make to a bank outside the United States. For amounts less than $5,000, you will be charged $5.
For transfers in dollars or foreign currency that you make from a branch, you will have to pay $50. For the transfers in dollars that you make through the online banking service, you will pay $40.
How much does Chase Bank charge to withdraw money at ATMs?
If the ATM you use is from the Chase Bank network, the withdrawal is free, regardless of the account you have.
If you use an ATM from another bank network, the commission will be $2.5 for each cash withdrawal you make. In addition, you will have to assume the charge made by the owner of the ATM.
The Chase Premier Plus account allows 4 cash withdrawals per month at ATMs of other banks without fees. And with the Chase Premier Plus account you will have the advantage of being able to make free cash withdrawals at any ATM.