How to Add a Beneficiary to Your Chase Bank Account

What adding a beneficiary to Chase means, and why you might do it

Adding a beneficiary to a Chase bank account means naming someone who will inherit the money in that account if you die. Chase calls this a payable-on-death (POD) beneficiary. The account stays in your name and under your control while you're alive — the beneficiary has no access to the money, and you can change or remove them at any time.

The main reason to set up a POD beneficiary is to avoid probate. When you die, probate is the court process that distributes your assets according to your will or state law. It takes months or years and costs money in legal fees. A POD beneficiary bypasses probate entirely — Chase transfers the money directly to that person after they provide a death certificate and proof of identity.

POD beneficiaries are different from joint account owners. A joint owner has access to the money right now. A POD beneficiary does not. POD is also different from naming someone in your will — a will goes through probate, but a POD account does not.

Key Takeaways

You can add a POD beneficiary to most Chase checking and savings accounts online, by phone, or in person at a branch.
The beneficiary receives the money only after you die and only if they provide Chase with a death certificate and government-issued ID.
You can name more than one beneficiary and decide what percentage of the account each one receives.
Changing or removing a beneficiary takes the same steps as adding one and takes effect when ready.

How to add a beneficiary online through Chase

Log into your Chase account at chase.com and go to the account details page for the account you want to add a beneficiary to. Look for a link or button labeled "Beneficiary" or "Add Beneficiary" — the exact wording varies by account type. Click it.

Chase will ask you for the beneficiary's full legal name, date of birth, and relationship to you (spouse, child, parent, other). You'll also enter their Social Security number or tax ID. If you're naming multiple beneficiaries, you'll specify what percentage of the account each one receives — for example, 50% to your spouse and 25% each to two children. The percentages must add up to 100%.

Review the information for accuracy, then submit. Chase will send you a confirmation email. The beneficiary designation takes effect when ready, though the beneficiary won't be notified unless you tell them.

Adding a beneficiary by phone or at a Chase branch

Call Chase customer service at the number on the back of your debit card. Tell them you want to add a POD beneficiary to a specific account. They'll ask for the same information: the beneficiary's full legal name, date of birth, Social Security number, and relationship to you. If you're naming multiple beneficiaries, tell them the percentages.

You can also walk into any Chase branch with your ID and ask to speak with someone about adding a beneficiary. Bring your account number. A banker will walk you through the process and may ask you to sign a form, though many branches can now handle it entirely on their system.

Phone and in-person changes usually take effect the same day, though you should receive written confirmation within a few business days.

What information you need before you start

Gather the following before you add a beneficiary: the beneficiary's full legal name (as it appears on their government ID), their date of birth, their Social Security number or tax ID, and your account number. If you're naming multiple beneficiaries, decide what percentage of the account each one will receive.

You do not need the beneficiary's permission to name them, and you do not need to tell them you've done it. However, it's a good idea to let them know so they understand what to expect and know where to find their money if something happens to you.

Changing or removing a beneficiary

You can change a beneficiary at any time using the same method you used to add them — online, by phone, or in person. Log into your account online and find the beneficiary section, or call customer service, or visit a branch. You can update the beneficiary's information, change the percentages, or remove them entirely.

If you want to remove a beneficiary completely, Chase will ask you to confirm that you want the account to have no beneficiary. Once you confirm, the designation is deleted when ready. If you die without a beneficiary on the account, the money will go through probate like any other asset.

What happens after you die

When you die, the beneficiary (or their estate representative if the beneficiary has also died) contacts Chase with a death certificate and a government-issued ID. Chase will verify the information and transfer the account balance to the beneficiary. This usually takes one to two weeks, though it can take longer if Chase needs additional documentation.

The beneficiary receives the full account balance as of the date of death, minus any outstanding fees or holds. If you named multiple beneficiaries, each receives their percentage. The money goes to the beneficiary's own bank account or as a check, depending on what Chase offers and what the beneficiary requests.

POD beneficiaries and taxes

Adding a POD beneficiary does not change how the account is taxed while you're alive. You report interest and dividends on your own tax return as usual. After you die, the beneficiary does not owe income tax on the money they inherit — inheritance is not taxable income at the federal level. Some states have inheritance taxes, but most do not, and most states that do exempt close relatives like spouses and children.

The money in the account may count toward the beneficiary's own assets for purposes of means-tested programs like Medicaid or Supplemental Security Income (SSI), depending on when they receive it and how much it is. If the beneficiary is on SSI or Medicaid, they should speak with a benefits counselor before the account transfers to understand any impact.

Frequently Asked Questions

Can I name my minor child as a POD beneficiary?

Yes, but Chase will not release the money directly to a minor. When the child reaches the age of majority (usually 18), they can claim the account. Until then, a court may appoint a guardian to manage the money, or the funds may be held in trust. Talk to a lawyer about whether a trust or guardianship arrangement makes sense for your situation.

What if I name someone as a beneficiary and then get divorced?

Chase will not automatically remove an ex-spouse as a beneficiary after a divorce. You must remove or change the beneficiary yourself. If you do not and you die, the money will go to your ex-spouse as named. Update your beneficiary as soon as your divorce is final.

Can I name my estate or a charity as a POD beneficiary?

Chase requires a named individual as a POD beneficiary. You cannot name your estate, a trust, or a charity directly. If you want to leave money to a charity or through a trust, you'll need to set that up in your will or through a separate trust account.

Does adding a POD beneficiary affect my will?

No. A POD beneficiary and a will are separate. The POD account bypasses probate and goes directly to the named beneficiary, regardless of what your will says. If your will names someone else to receive that account, the POD beneficiary wins — the account goes to them, not to whoever your will names.

What if the beneficiary dies before I do?

The account stays in your name and under your control. The deceased beneficiary's claim to it ends. You should update the beneficiary designation to name someone else, or remove the beneficiary entirely. If you do not update it and you die without a current beneficiary, the account goes through probate.

This guide is for general information only and is not medical, financial, legal, or other professional advice. For decisions specific to your situation, consult a qualified professional. See our Editorial Policy.