What a beneficiary does and why you might add one
A beneficiary on a Chase checking account is a person you name to receive the money in that account if you die. When you name a beneficiary, the funds pass to them outside of probate — the legal process that normally distributes a dead person's assets. This means the money reaches them faster and without court involvement.
Chase calls this a Payable on Death (POD) designation. It works alongside your will, not instead of it. If you have a will that says something different about who gets the account, the POD designation wins — it overrides the will. The beneficiary you name has no access to the account while you are alive, even if you give them a debit card or power of attorney.
You can name one person or multiple people. If you name more than one, you decide whether they split the money equally or in percentages you choose. You can change or remove a beneficiary at any time, and you can name a different beneficiary for each account you hold at Chase.
Key Takeaways
- You can add a beneficiary to a Chase checking account through the Chase mobile app, online banking, or by visiting a branch in person.
- Chase requires the beneficiary's full legal name and date of birth; you do not need their Social Security number or account information.
- The beneficiary receives the account balance only after you die and only if the account is still open — they cannot touch the money while you are alive.
- You can name multiple beneficiaries and decide how the money splits between them, or change your choice at any time without notifying anyone.
Adding a beneficiary through the Chase mobile app
Open the Chase mobile app and sign in. Tap the account you want to add a beneficiary to, then look for the menu icon (three horizontal lines) in the upper right corner. Scroll down and select "Beneficiaries" or "Manage beneficiaries" — the exact wording varies by app version.
Tap "Add beneficiary" and enter the person's full legal name exactly as it appears on their government ID. Enter their date of birth in the format the app requests. You will then specify what percentage of the account they receive — if you are naming only one person, enter 100%. If you are naming multiple people, the percentages must add up to 100%.
Review the information you entered and confirm. Chase will send you a confirmation email. The beneficiary designation takes effect when ready, though you can change it anytime by returning to the same menu.
Adding a beneficiary through Chase online banking
Log into your Chase account at chase.com. Select the checking account you want to add a beneficiary to. Look for a "Settings" or "Account details" option, usually found in a menu on the right side of the screen or under your account name.
Find the section labeled "Beneficiaries" or "Payable on Death." Click "Add beneficiary" and fill in the person's full legal name and date of birth. Enter the percentage of the account balance they will receive. If you are naming more than one beneficiary, make sure all percentages total 100%.
Click "Confirm" or "Save." Chase will display a summary of the change and send you a confirmation email. You can return to this same section anytime to update or remove a beneficiary.
Adding a beneficiary in person at a Chase branch
Visit any Chase branch with a government-issued ID. Tell the banker you want to add a Payable on Death beneficiary to your checking account. Bring the beneficiary's full legal name and date of birth — you do not need to bring them with you or have their permission.
The banker will fill out a form with your information and the beneficiary's information. You will sign the form in front of the banker. Chase will process the change and mail you a confirmation. This method takes longer than online or app-based changes, usually one to two weeks, but some people prefer it because they have a paper record signed in front of a witness.
What information Chase needs from you and the beneficiary
Chase requires your account number (which you already have) and the beneficiary's full legal name as it appears on their government ID — driver's license, passport, or state ID. Spell it exactly right, including middle names or initials if that is how they legally spell it.
You must provide the beneficiary's date of birth in month-day-year format. You do not need their Social Security number, address, phone number, or bank account details. Chase does not verify the beneficiary's identity before accepting the designation, so it is your responsibility to make sure you have the correct person and correct spelling.
If the beneficiary's legal name changes after you name them — through marriage, divorce, or court order — you should update the designation to match their current legal name. This prevents confusion when the account transfers after your death.
Naming multiple beneficiaries and splitting the account
You can name up to five beneficiaries on a single Chase checking account. When you add each one, you specify what percentage of the account balance they receive. The percentages must add up to exactly 100%.
For example, you could name your spouse for 50%, your adult child for 30%, and a charity for 20%. When you die, Chase will divide the account balance according to those percentages. If the account holds $10,000, your spouse receives $5,000, your child receives $3,000, and the charity receives $2,000.
You can change these percentages anytime. If you remove one beneficiary and do not reassign their percentage, the remaining beneficiaries do not automatically receive more — you must manually adjust their percentages so they still total 100%.
Changing or removing a beneficiary
You can change a beneficiary's name, date of birth, or percentage share at any time using the same method you used to add them — the mobile app, online banking, or a branch visit. You do not need to notify the beneficiary, and the change takes effect when ready.
To remove a beneficiary entirely, go to the beneficiaries section of your account, find their name, and select "Remove" or "Delete." Confirm the removal. If you remove your only beneficiary and do not name a replacement, the account will have no POD designation, and the money will pass through your will or intestate succession instead.
Chase keeps a record of all changes you make to beneficiary designations. If there is ever a dispute after your death about who you intended to receive the account, Chase can show the court when each change was made and who was named at the time of your death.
What happens to the account after you die
When you die, your beneficiary or their representative contacts Chase with a death certificate. Chase will freeze the account and verify the beneficiary's identity. The bank then transfers the account balance to the beneficiary according to the percentages you set.
This process usually takes two to four weeks, though it can take longer if the estate is complicated or if there are legal disputes. The beneficiary does not pay income tax on the money they receive — it passes to them tax-free. However, if the account earned interest between your death and the transfer, that interest may be taxable to the beneficiary's estate.
If you name a minor as a beneficiary, Chase will not release the money to them directly. Instead, the funds go into a guardianship account or are held until the person turns 18 or 21, depending on your state's law. You can avoid this by naming an adult as beneficiary instead, or by naming a trust as the beneficiary.
Frequently Asked Questions
Can I name a minor as a beneficiary?
Yes, but Chase will not give the money directly to a minor. The funds will be held or placed in a guardianship account until the person reaches the age of majority in your state, usually 18 or 21. If you want to avoid this delay, name an adult you trust instead, or consult an estate attorney about naming a trust.
Does the beneficiary need to sign anything or give permission?
No. You can name a beneficiary without their knowledge or consent. The beneficiary has no rights to the account while you are alive. You do not need to tell them you named them, though many people do so there are no surprises later.
What if I die without naming a beneficiary?
The account becomes part of your estate and passes according to your will, or according to your state's intestate succession laws if you have no will. This means the money goes through probate, which takes longer and costs more than a POD transfer. Naming a beneficiary avoids this.
Can I name my estate or a charity as a beneficiary?
Yes. You can name a charity by its legal name, or you can name your own estate. Naming your estate defeats the purpose of a POD designation because the money will still go through probate. Naming a charity is a way to leave a donation without changing your will.
If I name multiple beneficiaries, do they have to agree on anything?
No. Each beneficiary receives their percentage automatically. They do not need to sign anything or agree with each other. If you name three people for 33% each and one of them dies before you do, that person's share does not automatically go to the other two — it goes to your estate instead. Update the designation if you want to change this.