Chase Bank Private Client Checking Overview

The Chase Bank Private Client Checking account offers premium banking service, with access to a private banker and financial advisors. It also enjoys no ATM fees, wire transfer fees, or cash deposit fees, as well as high transaction limits.

This account is designed for high-net-worth individuals, so it includes access to invitation-only events and support for business owners and investors. You also enjoy 24/7 phone access to dedicated customer support teams.

Pros and Cons

Axos Bank at a Glance

Suitable For?

The Chase Bank Private Client checking account is designed for high-net-worth individuals who want to avoid transaction fees and need large daily transaction limits. The account offers no fees on ATM transactions or wires, and enables you to send and receive up to $5,000 per day with Zelle or access up to $3,000 in cash from ATMs. In addition, you can make purchases of up to $7,500 daily with your debit card and make digital check deposits of up to $100,000 per day.

It’s important to note that, while Chase doesn’t have a minimum asset requirement to open a Private Client account, you must show that you have significant assets in order to be approved. You’ll also need to maintain a $150,000 account balance to avoid the $35 monthly account fee.

The Private Client account is also great for small and medium-sized business owners who have a Chase Platinum Business account, since they can get their monthly fees waived with only a $50,000 account balance.

Features/Highlights

Chase Bank Private Client checking accounts come with many traditional banking features as well as some unusual perks and features.

Advantages over traditional banks

With a Chase Bank Private Client checking account, you pay no ATM fees worldwide, and Chase Bank will reimburse you if an ATM provider charges you. Also, there are no fees on incoming and outgoing wire transfers, and for up to 4 days a year, you pay no overdraft fees.

In addition, there are no foreign exchange rate adjustment fees. These are fees, usually of up to 3%, that most banks charge for currency exchange or foreign currency transactions.

You also get access to personalized concierge services, such as access to personal bankers who let you skip the line for tellers. Your personal banker will get to know your financial situation and offer advice. If you need a mortgage or want to invest, you’ll have access to a private mortgage and investment advisor who can give you custom advice.

Another interesting feature of Chase Bank Private Client checking accounts is that you enjoy access to invitation-only events. These events include educational seminars about finance, family entertainment, and cultural and sports events.

Cutting-edge banking services

Chase Bank Private Client checking accounts give you access to online and mobile banking, where you can pay bills, transfer funds, see your statements, monitor account activity, and look at images of checks you’ve written.

Using the Zelle® integration, you can send and receive money at no charge, plus set up recurring payments. You can also create alerts to monitor your transactions and balance.

Traditional banking services

Chase Bank offers mortgages, loans, car financing, investment products, business accounts, credit cards, and more. As a Chase Bank Private Client, you enjoy 0.25% off the standard auto financing rate and get access to CD ladders, where you can invest in up to four CDs at different rates.

You can also access over 16,000 ATMs and more than 4,700 branches. Most branches have Chase Bank Private Client services, where you can speak with a banking advisor or get help with your Chase Bank Private Client account.

Interest Rates and Fees

Your Chase Bank Private Client checking account earns interest. The rate is variable and based on your daily balance.

Your account doesn’t come with monthly maintenance fees as long as you maintain $150,000 in balances or link your account to a Chase Platinum Business Checking account with a balance of at least $50,000. With a Chase Bank Private Client checking account you can also have up to 9 additional Chase Private Client Checking accounts with no fees.

Customer service and online experience

Chase Bank Private Client checking accounts give you no-cost access to a Chase Private Client banker who can help you with everyday banking. You can also access Home Lending Advisor who helps you find a mortgage and a Business Relationship Manager who can help you with business banking needs.

As a Chase Bank Private Client, you also enjoy 24/7 phone support through the Chase Private Client service team. Online reviews of Chase Bank Private Client accounts specifically praise the helpfulness of private bankers and the promptness of the Private Client phone support.

Mobile app

Available on iOS and Android, the Chase Bank app lets you access your Private Client account information on the go. You can use QuickDeposit to deposit your checks in the app—just take a photo of the check, confirm the details, and your money is usually available the next business day.

With the Chase Bank App, you can also send and receive payments and break up credit card purchases into no-interest installment plans. Your mobile app also gives you access to rewards and special offers. You can even see your credit score, set savings plans, track your spending, set up investments, and lock and unlock your card.

The app gets 4.2 stars out of 5 on the Google Play store, based on over 1.8 million reviews, and 4.8 stars out of 5 on the Apple Store, based on over 5.7 million ratings. Positive reviewers praise the Chase Bank app for its clean and intuitive user interface and useful tools. Negative reviews express frustration with some features not working.

Security

Your Chase Bank Private Client checking account is FDIC insured up to $250,000. Your account is further protected with 128-bit Secure Socket Layer (SSL) encryption and 2-factor authentication. For added security, you can enable Apple's Touch ID® and Face ID® or Android's Fingerprint Login for sign-ins.

Chase Bank has a dedicated fraud department you can contact by phone if you notice any suspicious activity. Additionally and at no cost, the Chase Credit Journey® feature will monitor your credit score and send you an alert if your data has somehow been leaked.

Application Process

To open a Private Client checking account, you must first meet with a Private Client banker in person at a Chase branch.

The banker will look at your assets and financial situation and decide whether you can open a Private Client checking account. You’ll need to have significant assets, though Chase doesn’t set a minimum asset amount.

If you don’t already have an account with Chase, you can speed up the approval process by starting your account application online. You’ll need to:

• Supply your name, date of birth, contact information, and Social Security number
• Upload an ID, like your driver’s license
• Input your citizenship information (you don’t need to be a US citizen, but you may need to provide additional ID if you’re a non-citizen resident)
• Provide details about your employment status

Chase has this information on file for existing customers, so you don’t need to start the process online if you already have another Chase account.

Chase Bank Private Client Summary

Chase Bank Private Client checking accounts offer concierge-level service with your account. You get access to a private banker and private investment advisor, as well as priority customer service and very few fees, as long as you can maintain the minimum $150,000 balance.

For high-net-worth individuals who maintain this kind of balance, Chase Bank Private Client checking accounts offer access to invitation-only events, customized support in getting a mortgage, and access to highly rated mobile and online banking features.

Physical Address

383 Madison Avenue, New York, New York, 10017

Disclaimer

There is a $35 Monthly Service Fee for Chase Private Client Checking OR $0 when you have at least one of the following each statement period: an average beginning day balance of $150,000 or more in any combination of this account and linked qualifying (a) deposits / (b) investments OR, a linked Chase Platinum Business Checking℠ account. New and converted accounts will not be charged a Monthly Service Fee for at least the first two statement periods. After that the Monthly Service Fee will apply unless you meet one of the ways to avoid the Monthly Service Fee each statement period (if applicable).

(a) Qualifying personal deposits include up to nine Chase Private Client Checking accounts, Chase High School Checking℠ accounts, Chase First Checking℠ accounts, personal Chase savings accounts (excluding Chase Premier Savings℠), CDs, certain Chase Retirement CDs, or certain Chase Retirement Money Market accounts.

(b) Qualifying personal investments include balances in investment and annuity products offered through JPMorgan Chase & Co. and its affiliates and agencies. For most products, we use daily balances to calculate the average beginning day balance for such investment and annuity products. Some third party providers report balances on a weekly, not daily, basis and we will use the most current balance reported. Balances in 529 plans, donor-advised funds, and certain retirement plan investment accounts do not qualify. Investment products and related services are only available in English.

"Chase Private Client" is the brand name for a banking and investment product and service offering, requiring a Chase Private Client Checking℠ account.

Bank deposit accounts, such as checking and savings, may be subject to approval. Deposit products and related services are offered by JPMorgan Chase Bank, N.A. Member FDIC.

Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Past performance is not a guarantee of future results.

Asset allocation/diversification does not guarantee a profit or protect against a loss.

J.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Morgan Securities LLC (JPMS), a registered broker-dealer and investment adviser, member FINRA, Opens overlay and SIPC, Opens overlay. Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states.

INVESTMENT AND INSURANCE PRODUCTS ARE:

NOT FDIC INSURED NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

NOT A DEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, JPMORGAN CHASE BANK, N.A. OR ANY OF ITS AFFILIATES

SUBJECT TO INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED