Chase Premier Plus Checking account review
- Fee
- $25 per month
- APY
- 0.01%
- Minimum deposit to open
- $0
Our verdict
Avoid fees and earn interest with this checking account from America's largest bank.
The Chase Premier Plus Checking account is best for those who expect to have a daily balance of at least $15,000 in their account. Although the account is interest-bearing, it's a low 0.01% percent.
Pros
-
Bonus offer
-
Earn interest
-
Minimal fees
-
Rent-free safety deposit box
Cons
-
Opening deposit requirement
-
Monthly service charge
-
Insufficient funds fees
-
Extended overdraft fees
How do I open a Chase Premier Plus Checking account?
You can open a Chase Premier Plus Checking account in person by visiting your local branch or online, by following these steps.
- Go to the provider’s site and follow the steps to apply.
- From the Chase site, click Checking accounts.
- Click Open account under Chase Premier Plus Checking account.
- Fill in your personal information including your name, address and Social Security number, then click Next.
- Once your application is complete, you’ll need to fund the account.
- Submit your application.
Eligibility
The only eligibility requirement for the Chase Premier Plus Checking is a $25 deposit to open the account. You’ll need to show a government-issued ID, but as long as you have a permanent address, you should be able to open an account.
Required information
- Name
- Date of birth
- Address
- Government-issued ID
- Social security number — or passport for foreign applicants
- Income information
What are the benefits of Chase Premier Plus Checking?
- Bonus offer. Get a $300 bonus when you open this account and sign up for direct deposit.
- Earn interest. Unlike many other checking accounts, this account pays interest at a rate of 0.01% APY.
- Minimal fees. You won’t pay fees for your first four out of network ATM transactions, Chase checks, money orders and more.
- Visa debit. The account comes with a Chase Visa debit card with chip technology.
- Convenient deposit methods. Deposit money at branches, ATMs, by mail, online or through the Chase mobile banking app using Chase QuickDeposit.
- Security. Chase holds the best possible long-term financial ratings by all three major ratings agencies, and is FDIC-insured, meaning that deposits up to $250,000 are covered.
- Bill pay. Make one-time or recurring payments for free when this your primary account to pay your bills.
- Paper payments. Send free counter checks, money orders or cashier’s checks.
- Rent-free safety deposit box. This account comes with free access to a 3×5-inch safety deposit box to keep your important documents and keepsakes safe from fire and theft.
- Wide-ranging support. Chase has nearly 5,000 branch locations and offers 24/7 customer service. You can also reach out by email, mail and Twitter, or find FAQs on the Chase site.
- Account alerts. Get alerts via text, email and push notifications when there is a charge, refund or other transaction on your account.
- Text banking. Check account balances, view credit card bills and more — all from your phone.
- Mobile payments. Use QuickPay with Zelle through the Chase mobile app to make payments to virtually anyone.
Chase ATM network and fees
This account comes with a Chase Visa debit card with chip technology, giving you access to the largest bank-owned ATM network in the country, with a whopping 16,000 ATMs in 28 states. Chase ATMs are free, and you’ll pay no Chase fees on your first four non-Chase ATM transactions per month. However, five or more incur the following fees:
- Domestic ATM fees (including Puerto Rico and the US Virgin Islands): $2.50 per withdrawal, transfer or inquiry — plus fees from the ATM owner.
- Foreign ATM fees: $5.00 per withdrawal and $2.50 per transfer or inquiry — plus fees from the ATM owner.
What should I look out for?
- Opening deposit requirement. The account requires a $0 minimum deposit to open, but doesn’t have monthly balance requirements.
- Monthly service charge. You’ll be charged a $25 monthly service fee, which is waived if any of the following apply to you:
- Have an average daily balance of at least $15,000. This also includes linked qualifying deposit and investment accounts.
- Be a member of the military.
- Have auto pay for your Chase first mortgage linked to your Premier Checking account.
- Insufficient funds fees. You’ll incur a $34 fee for each debit card purchase that overdraws your account, with a maximum of three per day. However, this fee doesn’t apply if any of these conditions apply:
- Your account balance at the end of the business day is overdrawn by $5 or less.
- Your purchase was for $5 or less, even if your end-of-day balance is overdrawn.
- You made an ATM withdrawal.
- Extended overdraft fees. Each time your account is overdrawn at least five business days in a row, you’ll be charged a $15 fee.
- Limited locations. Although Chase has nearly 5,000 branches, it only operates in 28 states and Washington, DC. However, the account is available online nationwide except in Alaska, Hawaii and Puerto Rico.
If you prefer a higher yield account, you’ll want to keep looking. As always, compare your options when looking for a checking account.
What states does Chase have branches?
- Arizona
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Kentucky
- Louisiana
- Massachusetts
- Michigan
- Nevada
- New Jersey
- New York
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Texas
- Utah
- Virginia
- Washington
- West Virginia
- Wisconsin
Compare with other checking accounts
How much do I need to open an account?
This account requires a minimum deposit of $0, which can be funded when you open your account online or at a branch.
What other checking options does Chase offer?
Chase also offers a few other checking accounts:
- Chase Checking. Chase’s most popular checking account comes with a $12 monthly service fee that is waived if you meet certain requirements, but it doesn’t earn interest.
- Chase College Checking. This checking account is designed for college students and comes with a $6 monthly service fee that can be waived for up to five years while you’re in school.
- Chase High School Checking. Geared toward students ages 13 to 17, this checking account helps develop responsible financial behavior in teenagers. Its $6 monthly service fee is waived if you meet certain requirements.
Does this bank offer business services?
Yes. Chase also offers a range of business services, including:
- Business checking accounts. Chase offers three business checking accounts to help you handle your financial cash flow. Their most recent checking account is the Chase Business Complete Banking® account.
- Merchant services. Chase offers products that allow businesses to accept payments online, in store or on the go.
- Business credit cards. Chase’s selection of business credit cards help companies cover expenses and earn rewards in the process.
- Business lending. Lines of credit, term loans, SBA financing and more are available to help businesses finance large purchases and other operating expenses.
Frequently asked questions
Checking account ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.
Chase Premier Plus Checking is not currently available on Finder
Have you considered SoFi Checking and Savings?
Earn up to 4.60% APY on savings by meeting deposit requirements, and 0.50% APY on checking balances. Members without deposit requirements will earn 0.50% APY on both savings and checking balances. Turn on automatic savings or use the Roundups feature to help you reach your savings goals faster. Get up to $2M of additional FDIC insurance through a network of participating banks.
- 0.50% APY on checking balance
- Up to 4.60% APY on savings
- $0 account or overdraft fees
- Get a $300 bonus with direct deposits of $5,000 or more
Your reviews
Peter Finder
Writer
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