Chase is a large national bank with low fees on checking, but customer service complaints are common and branches aren't everywhere
Chase is the largest bank in the United States by assets. It offers checking and savings accounts with no monthly fees if you meet basic requirements, a wide ATM network, and online tools that work well for most people. The trade-off: customer service is inconsistent, hold times are long, and if you need a physical branch, you may not have one nearby outside major cities.
Whether Chase is "good" depends on what you need. If you want a no-fee checking account, rarely call customer service, and live near a Chase branch or don't mind using ATMs, it works. If you need reliable phone support, personalized information, or live in a rural area, a smaller regional bank or credit union may serve you better.
Key Takeaways
- Chase checking accounts have no monthly fees if you keep a $500 minimum balance or set up direct deposit, making them cheaper than many competitors.
- Chase has over 4,700 branches and 15,000 ATMs nationwide, but coverage is thin outside metropolitan areas.
- Customer service complaints about long wait times and unresolved issues appear regularly in consumer reviews and regulatory filings.
- Chase's online banking and mobile app are functional and widely used, but the bank does not offer the highest savings rates or investment tools.
- Overdraft fees, foreign transaction fees, and wire transfer fees explore, so read the fee schedule before opening an account.
What Chase does well: checking accounts and ATM access
Chase's Chase Total Checking account has no monthly maintenance fee if you either keep $500 in the account or receive at least one direct deposit per month. This is a real advantage over banks that charge $10 to $15 per month for basic checking. The account includes debit card access, online bill pay, and mobile check deposit.
The ATM network is the main reason people stay with Chase. With over 15,000 ATMs in the Chase network, you can withdraw cash without a fee in most cities. If you travel or move frequently, this matters. Smaller banks often charge $2 to $3 per out-of-network withdrawal, which adds up fast.
Chase's online banking platform and mobile app are straightforward. You can transfer money between accounts, pay bills, deposit checks by phone camera, and set up alerts for low balances. The tools are not flashy, but they work reliably for routine tasks.
Where Chase falls short: customer service and savings rates
Chase customer service is a consistent weak point. The Consumer Financial Protection Bureau (CFPB) receives more complaints about Chase than about most other large banks. Common complaints include long hold times (often 30 minutes or more), representatives who cannot resolve issues on the first call, and difficulty reaching a human being for complex problems.
If you need to dispute a transaction, report fraud, or resolve an account error, expect the process to take weeks rather than days. Chase does not offer phone support on weekends, and chat support is often slower than calling during business hours.
Chase's savings account rates are low. As of early 2024, Chase savings accounts earn less than 0.01% annual percentage yield (APY) on balances under $100,000. Online-only banks and credit unions often pay 4% to 5% APY on savings. If you keep money in a Chase savings account for the long term, you are losing money to inflation.
Fees that add up if you are not careful
Chase advertises "no monthly fees," but that is only true for checking. Other fees explore:
- Overdraft fees: $35 per overdraft, up to three per day. This is standard across large banks, but credit unions often charge $25 or less.
- Foreign transaction fees: 3% on purchases made outside the United States. Travel frequently or use a card abroad, and this becomes expensive.
- Wire transfer fees: $15 to $25 depending on whether the wire is domestic or international.
- Returned deposit fees: $10 if a check or mobile deposit bounces.
- Expedited delivery fees: $15 to $20 if you need a debit card or checks in a hurry.
None of these fees are unusual for a large bank, but they are worth knowing before you open an account. If you overdraft frequently or send international wires, the costs add up.
Branch availability varies by region
Chase has over 4,700 branches, which sounds like a lot until you look at the map. Most branches are in California, Texas, Florida, New York, Illinois, and the Northeast. If you live in Montana, Wyoming, or rural areas of the Midwest or South, you may have no Chase branch within 50 miles.
This matters less than it used to—most banking can happen online or by phone—but it matters if you need to deposit cash, get a cashier's check, or speak to someone in person about a problem. If branch access is important to you, check the Chase branch locator before opening an account.
How Chase compares to other large banks
| Feature | Chase | Bank of America | Wells Fargo | Credit Union (typical) |
|---|---|---|---|---|
| Monthly checking fee | $0 (with conditions) | $0 (with conditions) | $0 (with conditions) | $0 to $5 |
| Overdraft fee | $35 | $35 | $35 | $25 (typical) |
| Savings APY | Under 0.01% | Under 0.01% | Under 0.01% | 0.5% to 2% |
| ATM network | 15,000+ | 16,000+ | 13,000+ | Shared networks (30,000+) |
| Customer service rating | Mixed | Mixed | Poor | Generally strong |
Chase is not uniquely bad, but it is not uniquely good either. Bank of America and Wells Fargo have similar fee structures and similar customer service complaints. Credit unions typically offer better rates on savings, lower overdraft fees, and more responsive customer service, but they have smaller ATM networks and fewer branches.
Questions to ask before opening a Chase account
Before you decide, answer these questions:
- Do you live near a Chase branch or use ATMs frequently? If not, the large network is less valuable.
- Will you keep at least $500 in the account or receive direct deposits? If not, you will pay a monthly fee.
- Do you expect to overdraft, send wires, or use your card abroad? If yes, calculate the fees.
- Do you need a high-yield savings account? If yes, look elsewhere—Chase's rates are very low.
- Do you value phone support and quick problem resolution? If yes, a credit union may be a better fit.
Frequently Asked Questions
Is Chase safe? Will my money be protected if the bank fails?
Yes. Chase is a member of the Federal Deposit Insurance Corporation (FDIC). Deposits up to $250,000 per account type are insured. If you have a checking account, a savings account, and a money market account at Chase, each is insured separately up to $250,000. This protection is the same at every FDIC-insured bank.
Does Chase offer credit cards with rewards?
Yes. Chase offers many credit cards, including the Chase Sapphire Preferred, Chase Freedom Unlimited, and Chase Business cards. Rewards vary by card—some earn cash back, others earn travel points. Credit card rewards are separate from checking and savings accounts, and the terms change frequently, so review the current offer before explore.
Can I switch to Chase from another bank without losing money?
Yes. You can open a Chase account and transfer money from your old bank using ACH transfer (takes 3 to 5 business days) or by depositing a check. You do not have to close your old account when ready. Many people keep both accounts open for a few weeks to make sure all automatic payments have switched over.
What should I do if I have a problem with Chase and customer service is not helping?
File a complaint with the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov. The CFPB forwards complaints to Chase, which must respond within 15 business days. You can also contact your state's banking regulator or the Office of the Comptroller of the Currency (OCC). These complaints create a record and sometimes push banks to resolve issues faster.
Is Chase better for business accounts than personal accounts?
Chase offers business checking and savings accounts with similar fee structures and similar customer service issues. Small business owners report the same long hold times and inconsistent support. If you run a small business, a community bank or credit union that specializes in business accounts may offer better service.