Chase is a large national bank with low fees and strong technology, but whether it's right for you depends on what you need from a bank
Chase is one of the largest banks in the United States, owned by JPMorgan Chase. They offer checking and savings accounts, credit cards, loans, and investment services. For many people, Chase works well because they have low monthly fees on basic accounts, thousands of ATMs and branches nationwide, and a mobile app that most people find straightforward to use. But "good" depends on your situation — what matters to someone who travels constantly is different from what matters to someone who needs a branch they can walk into, or someone who wants a bank that specializes in serving people new to banking.
The question is not whether Chase is objectively good, but whether Chase fits your life. This guide walks through what Chase costs, where you can use it, how it compares to other banks, and who it works best for.
Key Takeaways
- Chase's main checking accounts have no monthly fee if you keep a small balance or set up direct deposit, which works for many people but not everyone.
- Chase has more than 4,700 ATMs and 4,700 branches in the United States, so access is usually straightforward if you live in or near a city.
- Their mobile app and online banking are modern and reliable, but they offer less personal guidance than smaller banks or credit unions.
- Chase charges $35 per overdraft and $5 for out-of-network ATM use, so understanding their fee structure matters before you open an account.
- If you are new to banking or rebuilding credit, a credit union or community bank may offer more support, even if Chase is convenient.
What Chase accounts cost and what you get for free
Chase's most common checking account is called Chase Total Checking. There is no monthly fee if you either keep $500 in the account at all times, or set up direct deposit (which means your paycheck goes straight into the account). If you do neither, the fee is $12 per month. Many people find this workable because direct deposit is common, but if you are paid in cash or get irregular income, this matters.
Chase also offers a savings account with no monthly fee as long as you keep $300 in it. Interest rates on savings accounts change constantly, so the rate Chase pays today may be higher or lower than what you could get elsewhere — it is worth comparing when you are ready to open an account. Chase does not charge you to move money between your checking and savings, which is useful if you need to cover an overdraft or move money around.
Beyond the monthly fee, Chase charges $35 for each overdraft — that is, each time you spend more than you have in the account. They also charge $35 if you try to withdraw cash and do not have enough money. These fees can pile up fast if you are living paycheck to paycheck. Some banks charge less, and some credit unions charge nothing.
Where you can use Chase and how straightforward it is to reach them
Chase has branches and ATMs in most states, with the heaviest presence on the East Coast, in the Midwest, and in California. If you live in a major city or suburb, you will almost certainly have a Chase branch nearby. If you live in a rural area, you may have no Chase branch at all, which means you would rely on ATMs and online banking.
Chase's mobile app and website let you check your balance, transfer money, pay bills, and deposit checks by taking a photo. Most people find this straightforward to use. If you need to talk to someone, Chase has phone support 24 hours a day, but you will reach a call center, not someone at your local branch. If you prefer to walk into a branch and talk to a person face-to-face, Chase branches are open during normal business hours, though hours vary by location.
How Chase compares to credit unions and smaller banks
Credit unions are nonprofit organizations owned by their members, and they often charge lower fees than large banks. Many credit unions have no monthly fee on checking, no overdraft fees, or lower overdraft fees than Chase. The tradeoff is that credit unions usually have fewer ATMs and branches — you may have to travel farther or use ATMs that charge you a fee. Credit unions also tend to be smaller and may offer more personal service if you walk into a branch, but less advanced technology.
Community banks are smaller than Chase but larger than most credit unions. They often have lower fees and more personal service than Chase, but fewer ATMs and branches. If you are new to banking or have had trouble with banks before, a community bank or credit union may spend more time explaining how accounts work and what to watch out for.
Chase's advantage is convenience and technology. Their disadvantage is that they are large and impersonal, and their fees can hurt if you are struggling with money. Neither approach is universally "better" — it depends on whether you value having a branch nearby and a polished app, or whether you value lower fees and a person who knows your name.
Overdraft fees and other charges that add up
Chase charges $35 each time you overdraft, and they can charge this fee multiple times in a single day if you make several purchases that push you over your balance. This is one of the biggest complaints people have about large banks. Some banks charge less per overdraft, some charge nothing, and some let you opt out of overdraft protection entirely (which means a purchase will be declined instead of charging you a fee).
Chase also charges $5 if you use an out-of-network ATM — that is, an ATM that does not belong to Chase. With 4,700 Chase ATMs, this is less of a problem than it used to be, but if you travel or live far from a Chase branch, it matters. Some credit unions and banks reimburse out-of-network ATM fees, which can save you money over time.
Wire transfer fees, cashier's check fees, and fees for closing an account early vary depending on the product. Before you open an account, ask Chase or look at their fee schedule online to understand what you might be charged for.
Who Chase works well for
Chase is a solid choice if you live in or near a city where they have branches, you get direct deposit, you rarely overdraft, and you want a bank with modern technology and good customer service through the app. If you travel a lot, the large ATM network is useful. If you want to build credit, Chase offers credit cards and can report your payment history to credit bureaus, which helps your credit score grow over time.
Chase is less of a fit if you live in a rural area with no Chase branches, you are paid in cash, you are new to banking and want someone to explain things in person, or you are living paycheck to paycheck and worried about overdraft fees. In those situations, a credit union or community bank may serve you better.
What to know before you open a Chase account
Before you open an account, bring a government-issued ID (like a driver's license or passport) and proof of your address (like a utility bill or lease). You will need to provide your Social Security number so Chase can verify your identity and check whether you have had problems with banks before. This check is called ChexSystems, and it is a report that banks use to decide whether to open accounts for you.
If you have been denied a bank account before, ask Chase whether ChexSystems is the reason. If it is, you may be able to dispute the information or look for a bank that does not use ChexSystems. Some banks and credit unions specialize in serving people who have had trouble opening accounts elsewhere.
Once your account is open, set up direct deposit if you can, keep your balance above the minimum, and watch your spending so you do not overdraft. Chase will send you alerts on your phone or email if your balance gets low, which can help you avoid fees.
Frequently Asked Questions
Does Chase report my account activity to credit bureaus?
Chase does not report checking or savings account activity to credit bureaus, so having a Chase account does not help or hurt your credit score. Credit scores are built from credit products like credit cards and loans. If you want to build credit with Chase, you would need to open a credit card and use it responsibly.
Can I open a Chase account online, or do I have to go to a branch?
You can open most Chase accounts online without visiting a branch. You will need to provide your ID, Social Security number, and proof of address, and you can upload photos of these documents. Some account types require a branch visit, so check Chase's website to see which accounts you can open from home.
What happens if I cannot pay an overdraft fee?
If you cannot pay an overdraft fee, it will stay on your account as a negative balance. Chase may close your account if the balance is not paid within a certain time, and they may report the debt to a collection agency. If this happens, contact Chase to discuss a payment plan or ask whether they will waive the fee.
Is my money safe at Chase?
Yes. Chase is a member of the Federal Deposit Insurance Corporation (FDIC), which means deposits up to $250,000 per account type are protected by the federal government. If Chase fails, the FDIC will return your money. This protection applies to checking and savings accounts but not to investment products.
Can I switch to a different bank if I am unhappy with Chase?
Yes. You can open an account at another bank and transfer your money over. Ask your new bank for help with the transfer — many banks have a service that moves your direct deposit and automatic payments to the new account. You can close your Chase account once everything has moved.