What a Transfer on Deposit means at Chase

A Transfer on Deposit (TOD) is a feature that lets you name a beneficiary who automatically receives the money in your Chase checking account when you die. It is not the same as a will or a trust. It is a direct instruction to Chase about what happens to that specific account, and it bypasses probate — meaning the money moves to your named person without going through the court system.

If you set up a TOD on your account years ago and forgot about it, or if you are not sure whether one exists, you need to check. A TOD you do not remember can override what your will says, so it matters to know whether one is there.

Key Takeaways

  • You can see whether your Chase checking account has a TOD by logging into your online account, calling Chase directly, or visiting a branch in person.
  • The TOD beneficiary receives the account balance outside of probate, which means it bypasses your will and any other instructions you may have left.
  • You can change or remove a TOD at any time while you are alive, but you must do it through Chase — a will cannot override it.
  • If you have multiple Chase accounts, each one can have a different TOD or none at all, so you need to check each account separately.

How to check online through Chase

Log into your Chase account at chase.com and go to the account details or account settings section. The exact location varies slightly depending on whether you use Chase's website or mobile app, but look for a menu option labeled "Account Settings," "Account Information," or "Manage Account."

Once you are in account settings, search for a section called "Beneficiaries," "Transfer on Deposit," "TOD," or "Payable on Death." If you see this section and it shows a name, that person is your current beneficiary. If the section is empty or does not appear at all, no TOD is set up on that account.

If you cannot find the section or the website does not show this information clearly, move to the phone or branch method — some account types do not display TOD information online.

Calling Chase to confirm your TOD status

Call the phone number on the back of your Chase debit card or visit chase.com and use their contact page to find the number for your account type. Tell the representative you want to know whether your checking account has a Transfer on Deposit beneficiary listed.

The representative will ask you to verify your identity — usually your Social Security number, date of birth, and account number. Once verified, they can tell you when ready whether a TOD exists and, if it does, who the beneficiary is. They can also tell you when it was set up and whether there are any conditions attached to it.

Write down the name of the beneficiary and the date the TOD was created. If you did not set this up yourself, ask the representative how you can change or remove it.

Visiting a Chase branch in person

Go to any Chase branch with a photo ID and your debit card. Tell a banker you want to review your checking account's beneficiary information. They will pull up your account and show you whether a TOD is in place.

This method is useful if you want to make changes on the spot — you can remove the TOD, change the beneficiary name, or add one if none exists. The banker can also explain what happens to the account after you die and answer questions about whether a TOD is the right tool for your situation.

What to do if you find a TOD you did not set up

If you discover a TOD beneficiary that you do not recognize or do not want, you can remove it or change it when ready. You do not need permission from the beneficiary, and you do not need to notify them. This is your account and your decision.

To remove or change a TOD, use the same method you used to check it: online through your account settings, by calling Chase, or by visiting a branch. Online, you should see an option to "Edit," "Remove," or "Delete" the beneficiary. On the phone or in person, straightforward tell the representative you want to remove the TOD or name a different beneficiary.

Chase will ask you to confirm the change and may require you to sign a form. Once the change is processed, the old beneficiary has no claim to your account.

How TOD interacts with your will and other accounts

A TOD on a Chase checking account overrides what your will says about that account. If your will leaves the account to your spouse but your TOD names your adult child, the child receives the money. This is why it is important to know what TODs you have set up — they can contradict your other estate plans.

Each of your Chase accounts can have a different TOD or no TOD at all. Your savings account might name one person, your checking account might name another, and a third account might have no beneficiary at all. You need to check each account separately to know the full picture.

If you have accounts at other banks, those institutions have their own beneficiary systems. A TOD at Chase does not affect accounts at Bank of America, Wells Fargo, or any other institution.

Frequently Asked Questions

Can someone else set up a TOD on my account without my permission?

No. Chase requires the account owner to authorize any TOD change. The person making the change must verify their identity with the account number, Social Security number, and date of birth. If you find a TOD you did not create, contact Chase when ready to report it and have it removed.

What happens to the TOD if the beneficiary dies before I do?

The TOD becomes void, and the account is treated as if no beneficiary was named. The money then goes through your will or, if you have no will, through your state's intestacy laws. You should review your TOD beneficiary periodically and update it if your circumstances change.

Can I name multiple people as TOD beneficiaries on one account?

Chase allows you to name one primary beneficiary and, in some cases, contingent beneficiaries who receive the money if the primary beneficiary has already died. The exact options depend on your account type and your state. Ask Chase directly about whether your account supports multiple beneficiaries.

Does a TOD cost anything to set up or change?

No. Setting up, changing, or removing a TOD on a Chase checking account is free. Chase does not charge a fee for this service, whether you do it online, by phone, or in a branch.

If I move my money to a different bank, does the TOD move with it?

No. A TOD is tied to the specific account at the specific bank. If you close your Chase checking account and open one at another bank, the Chase TOD ends. You would need to set up a new TOD at the new bank if you want that account to have a beneficiary.