Chase Private Client is a checking account bundled with wealth management services, not a separate product
Chase Private Client checking is not a standalone account you can open online. It is the checking component of a relationship with Chase Private Client, which is Chase's wealth management division for customers with investable assets of $250,000 or more. You get a checking account as part of that relationship, along with access to a dedicated banker, investment advisory services, and fee waivers on certain products.
The checking account itself functions like a standard Chase checking account—you can deposit checks, use a debit card, set up direct deposit, and transfer money between accounts. The difference is in what comes with it: no monthly maintenance fee (normally $12 on Chase Total Checking), no minimum balance requirement to waive the fee, and unlimited ATM fee reimbursements worldwide. You also get priority customer service and a relationship manager who knows your full financial picture.
If you have less than $250,000 in investable assets, you cannot open a Chase Private Client account, and you would use a standard Chase checking product instead. The wealth management piece is what makes this account exist—the checking account is the entry point to that relationship.
Key Takeaways
- Chase Private Client checking requires a relationship with Chase Private Client, which starts at $250,000 in investable assets.
- You get no monthly maintenance fee, no minimum balance requirement, and worldwide ATM fee reimbursement as part of the account.
- A dedicated banker manages your account and can coordinate checking, savings, investments, and credit products in one place.
- If you do not meet the asset threshold, you would use Chase Total Checking or another standard Chase checking product instead.
What assets count toward the $250,000 threshold
Chase counts investable assets—money that can be invested or held in accounts—toward the $250,000 minimum. This includes cash in Chase deposit accounts, stocks and bonds held at Chase, mutual funds, and money managed by Chase advisors. It does not include the value of your home, vehicles, or retirement accounts like IRAs or 401(k)s held outside Chase.
The threshold is based on what you have with Chase, not your total net worth. If you have $500,000 in assets but only $100,000 of it is with Chase, you do not meet the requirement. You can move money into Chase accounts or open a Chase investment account to reach the threshold, but the assets have to actually be there and available to invest or hold.
Chase reviews your relationship status periodically. If your balance drops below $250,000 and stays there, Chase may close the Private Client relationship and convert your checking account to a standard product. The exact timeline and notice period depend on your situation, so ask your banker what happens if your balance fluctuates.
Fees and what is included
There is no monthly maintenance fee on Chase Private Client checking. Standard Chase Total Checking charges $12 per month unless you maintain a $500 minimum balance or set up direct deposit, but Private Client checking waives this entirely. You also get unlimited ATM fee reimbursements at any ATM worldwide—if you use an out-of-network ATM and are charged a fee, Chase refunds it.
Beyond the checking account itself, the Private Client relationship includes a dedicated banker, investment advisory services (the scope depends on your assets and what you choose), and fee waivers on certain products like safe deposit boxes. Some customers also receive discounts on mortgage rates or investment advisory fees, though these vary by situation.
You do pay for investment advisory services if you use them, and those fees are separate from the checking account. The checking account itself has no hidden fees—overdraft fees, wire transfer fees, and stop payment fees work the same way as they do on any Chase account. Ask your banker upfront what services are included in your relationship and what costs money.
How to open a Chase Private Client account
You cannot open Chase Private Client checking through the website or mobile app. You have to contact Chase directly by phone or visit a Chase branch and ask to speak with a Private Client banker. Chase has a dedicated phone line for Private Client inquiries, and your local branch can transfer you or provide a direct number.
When you contact Chase, have documentation of your investable assets ready—recent statements from Chase accounts, brokerage accounts, or other financial institutions. Chase will verify that you meet the $250,000 threshold before opening the relationship. The process usually takes a few days to a week once you have submitted your information.
If you already have a Chase checking account, you do not need to close it. Chase can convert it to a Private Client checking account once you are approved for the relationship. If you are new to Chase, they will open a new checking account as part of setting up your Private Client relationship.
Private Client checking versus standard Chase checking
| Feature | Private Client Checking | Chase Total Checking |
|---|---|---|
| Monthly maintenance fee | None | $12 (waived with $500 balance or direct deposit) |
| Minimum balance to waive fee | None | $500 |
| ATM fee reimbursement | Unlimited, worldwide | Unlimited at Chase ATMs only |
| Dedicated banker | Yes | No |
| Asset requirement | $250,000 minimum | None |
| Debit card | Yes | Yes |
| Online and mobile banking | Yes | Yes |
The main practical difference is the ATM fee reimbursement and the dedicated banker. If you travel internationally or use ATMs outside the Chase network frequently, Private Client checking saves money. If you have a complex financial situation—multiple accounts, investments, loans, and credit products—a dedicated banker can coordinate across all of them and make decisions easier.
For most people, Chase Total Checking is sufficient. The $12 monthly fee is straightforward to waive, and you get the same core checking features. Private Client checking makes sense if you have significant assets with Chase and want a single point of contact for your finances, or if you regularly pay out-of-network ATM fees.
What happens if your assets drop below the threshold
If your investable assets fall below $250,000 and stay there, Chase will eventually close your Private Client relationship. The exact timeline varies—Chase may give you 30 to 90 days notice, or they may allow a grace period if the drop is temporary. Ask your banker what the policy is for your specific situation.
When the relationship closes, your checking account converts to a standard Chase product, usually Chase Total Checking. You keep the same account number and routing number, so direct deposits and automatic payments do not change. You will start paying the $12 monthly maintenance fee unless you maintain the $500 minimum balance or set up direct deposit.
If you think your assets might dip temporarily—because you are making a large purchase or withdrawal—tell your banker. Some situations allow for a temporary exception, or you may be able to move assets around to stay above the threshold.
Frequently Asked Questions
Can I use Chase Private Client checking if I have $250,000 in a 401(k)?
No. Chase counts only investable assets held with Chase or that can be invested through Chase. Retirement accounts like 401(k)s and IRAs held outside Chase do not count, even if you have $500,000 in them. The $250,000 has to be in accounts Chase can see and manage.
Do I have to use Chase's investment services to keep the account open?
No. You need $250,000 in investable assets with Chase, but you do not have to use their advisory services. You can hold the assets in deposit accounts, money market funds, or self-directed investments. However, the relationship is designed around wealth management, so Chase may encourage you to use their services.
What if I have $250,000 but it is split between Chase and another bank?
Only the assets with Chase count. If you have $150,000 with Chase and $100,000 with another bank, you do not meet the threshold. You would need to move assets to Chase or open a Chase investment account to reach $250,000 with them.
Can I open Chase Private Client checking online?
No. You have to contact Chase by phone or visit a branch in person. Chase requires verification of your assets and a conversation with a Private Client banker before opening the account. This is not available through the website or mobile app.
What is the difference between Chase Private Client and Chase Sapphire Reserve?
Chase Sapphire Reserve is a credit card with travel benefits and a $550 annual fee. Chase Private Client is a wealth management relationship with a checking account. They are separate products. You can have both, and some Private Client customers do use Sapphire Reserve for travel rewards.