Chase Premier Plus Checking account review
Avoid fees and earn interest with this checking account from America's largest bank.
finder.com’s rating: 2.5 / 5.0
If you’re looking to open a new checking account with minimal fees that earns interest, the Chase Premier Plus Checking account could be a sound choice. You’ll get access to Chase’s convenient mobile banking app, large ATM network and even a rent-free safety deposit box. But if you want to visit a branch in person, you’ll need to live in one of the 28 states it services.
$25 per month
Minimum deposit to open
|Monthly fee||$25 per month|
|To waive the fee||Meet ONE of the following: |
• Have an average beginning day balance of $15,000 or more in this account and any linked deposits or investments
• OR pay your Chase first mortgage with auto pay from your Chase account
• OR be a member of the military with ID
|Minimum deposit to open||$0|
|Intro or bonus offer||$300 bonus when you open this account and sign up for direct deposit before 10/14/2020. Available online nationwide except in Alaska, Hawaii and Puerto Rico.|
|ATMs||Access to 16,000 ATMs and nearly 4,900 branches nationwide|
|ATM transaction fee||$0|
|ATM fee rebates||First four non-Chase ATM transactions per statement period|
|Out-of-network ATM fee||$2.50 in the US, Puerto Rico and US Virgin Islands; outside the US, it's $5 per withdrawal and $2.50 per transfer or inquiry|
|Foreign transaction fee||3%|
|Nonsufficient funds fee||$34|
Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.
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.
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?
- District of Columbia
- New Jersey
- New York
- West Virginia
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.
How do I apply?
You can open a Chase Premier Plus Checking account in person by visiting your local branch or online, by following these steps.
1. Visit the Chase site and click Checking accounts.
2. Click Open account under Chase Premier Plus Checking account.
3. Fill in your personal information including your name, address and Social Security number, then click Next.
4. Once your application is complete, you’ll need to fund the account.
5. Submit your application.
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.
The $300 introductory bonus is only available to new Chase customers. Once the account is open, you’ll need to make a direct deposit into the account within 60 days.
- Date of birth
- Government-issued ID
- Social security number — or passport for foreign applicants
- Income information
What other checking options does Chase offer?
Chase also offers a few other checking accounts:
- Chase Total 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 Sapphire Checking. This premium checking account has a high balance requirement to waive the $25 monthly service fee, but it has almost no other fees and earns interest at 0.01% APY.
- 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. Various business checking accounts are designed to help businesses handle cash flow.
- 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
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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.