Would you want to know how many savings accounts Chase offers? The Chase Savings account and the Chase Premier Savings account are the two primary savings account alternatives that Chase offers, in my experience.
If you qualify for the relationship rate, you will receive a greater yield from the premier account.
You must link this account to either a Chase Sapphire or a Chase Premier Plus checking account in order to receive the relationship rate.
Additionally, you must use the connected account to start at least five transactions every month.
Conversely, you must link a Chase Premier Plus Checking account or a Chase Sapphire Checking account in order to receive the upper end of the rate range (also known as the “relationship rate”) with the Chase Premier Savings account.
After that, in order to be eligible for the higher APY on your savings account, you need to complete at least five qualifying transactions from your linked checking account each month.
That’s not all, though; I’ll tell you more about how many savings accounts Chase offers as you continue.
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Now let get started.
What Is The List Of Chase Saver Accounts I Can Have
One Chase Saver account is all you can have at once. There are no fees or charges for keeping the account open.
No matter what, you must always have at least one general account with us open in order to have a Chase savings account. We’ll close your Chase savings account as well if you close your last general account with us.
You can have any of these 9 Chase Saver accounts:
1. The Chase smart® app can be downloaded on some smartphones. There may be charges for messages and data.
2. For at least the first two bill cycles, new accounts and accounts that have been changed will not be charged a Monthly Service Fee.
Following that, the Monthly Service Fee will be charged unless you follow one of the ways to avoid it each statement period (if any).
3. Chase First Banking doesn’t offer auto-save.
4. Interest on savings accounts is added together and paid every month based on the daily amount. Interest rates are changeable and are set by Chase every day.
They can change at any time without warning. Balance tiers are valid as of the date these rates went into effect, but Chase may change them at any time.
Account fees could be cut into wages. The interest in a CD stays the same for the whole time and is added to every day.
5. Link your Chase Premier SavingsSM account to your Chase Premier Plus CheckingSM or Chase SapphireSM checking account and make five purchases using the connected checking account in the billing month to obtain Premier relationship pricing.
6. This is only for Chase Secure CheckingSM: Early direct deposit is a tool that comes with your Chase Secure Checking account.
It lets you get up to two business days ahead of time on qualified direct deposit transactions. You need to set up direct payment.
Your account will be paid at the time specified by the buyer when they send us the information.
This means that the times these transactions are paid may be different, and you might need more time to get your money.
Eligible transactions include certain ACH credit transactions, like getting paid or getting government benefits.
7. You still have to pay fees to the ATM owner or network. If you use an ATM to take out money that isn’t U.S. dollars, Chase may charge you a Foreign Exchange Rate Adjustment Fee.
8. The account must be tied to a bank account so that there is no monthly service fee.
9. When you order through Chase. There may be fees for some other products and faster shipping choices.
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Is There A Minimum Balance Requirement For Chase Savings Accounts
To start a new Chase Savings Account, you don’t need to have a certain amount of money in it.
However, if you want to avoid paying the $5 monthly fee for a Chase Savings account or the $25 monthly fee for a Chase Premier Savings account, you’ll need to meet certain account minimums or other requirements every month.
Many banks charge bank fees to make more money and cover their costs of doing business. That being said, if these things are important to you, you can find free checking and savings accounts that let you use banks without extra fees.
How Many Different Accounts Does Chase Offer
The three types of checking accounts that Chase has are Chase Premier Plus CheckingTM, Chase Total Checking®, and Chase Secure BankingTM.
1. Total Checking® from Chase
For everyday use, Chase Total Checking® is the best account from the bank. You don’t have to make a minimum investment to start the account, but there is a $12 maintenance fee every month.
Customers can avoid having to pay the monthly fee if they do any of the following:
· Get at least $500 deposited into your account every month.
· Keep at least $1,500 in your account every day.
· Keep at least $5,000 in all of your linked Chase accounts.
· This account offers zero liability protection, overdraft assistance, and the convenience of mobile banking.
If you open a new Chase bank account and get a certain amount of money deposited directly into it within 90 days, you can get a Chase Bank offer of $200 or more.
2. Safe Banking at Chase
· The fee is $4.95 a month.
· Opening payment of at least $0.
· There is no interest on amounts.
· ATM fees: In the U.S., there is a $3 fee at non-Chase ATMs, plus any fees charged by the ATM owner.
· There are no overdraft fees.
· Sign-up bonus of $100, good until January 24, 2024. Our list of bank bonuses shows how to get it.
3. Chase Premier Plus Checking Account
The monthly fee is $25. To get it waived, you must have a minimum amount of $15,000 across all linked Chase accounts at the start of each day, set up regular payments to a linked qualifying Chase first mortgage, or be a member or veteran of the U.S. Armed Forces.
· Opening payment of at least $0.
· Interest is paid on funds at a rate of 0.01% APY (as of November 21, 2023; rates are changeable and can change).
ATM fees: You can use a non-Chase ATM four times per statement period without being charged. However, ATM owner fees may still apply. Any extra withdrawals will be charged the $3 fee.
Late payment fees: $34 per late payment, up to three times a day. If your account is overdrawn by $50 or less at the end of the day, there is no fee.
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Can I Open Multiple Savings Accounts In Chase
A person can have as many bank accounts as they want, whether they are checking, savings, or something else.
“For some, having more than one savings account—one for each thing or goal—might be helpful.
A lot of people have different savings goals. For each goal, they may have different amounts they need to save and different due dates. You can save money for a trip in a few months and a new car in two years.
So, you can have more than one savings account at the same bank or different banks.
When you start more than one savings account, you should be aware of the Federal Deposit Insurance Corp.’s (FDIC) limit rules, interest rates, fees, and minimum amount needed.
What Are The Advantages And Disadvantages Of Multiple Bank Accounts In Chase
Having more than one bank account can help you handle your money better, but not everyone should do it.
It is helpful to do a cost-benefit study of how each bank account will help or hurt your personal financial goals when deciding how many you should have.
Possible advantages:
1. More choices: Learning about the different kinds of bank accounts might help you understand that you have more financial choices.
If you do this, you can find a more specialized account that fits your financial goals better.
2. Better planning: Clear categories and earmarking can help with budgeting, keeping track of expenses, and saving.
Having more than one account can help you keep track of your progress toward each one of your goals and keep you from spending too much or using up funds meant for other goals.
3. Better organization: The different accounts can help you keep track of your savings for different things, like an emergency fund, a trip, or a down payment on a house.
4. Better interest rates: Some banks offer better interest rates on savings accounts with larger amounts, so having more than one account can help you get the most out of these rates.
Cons: Having more than one bank account has its benefits, but every good thing has a bad side, too.
1. Minimum amount: It’s easy to have more than one savings account, but it can be hard to keep the minimum sum in all of them.
2. Loss of interest: If you put your money in a lot of different accounts, you might lose interest because many banks pay more interest on larger deposits.
3. Trouble with auto-transfers: If all of your payments come from one paycheck, the auto-transfer choice can be hard to use. It will take a lot of work to keep track of all the accounts and the money that has been put in them.
4. You could make theft more likely.
The bank you choose should have strong security and scam safety in place. But it’s more likely that someone will hack your account if you have a lot of them.
The bad guys will be able to get your money or personal information from more than one place.
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Final Thought
Now that we have established the numbers of savings accounts Chase offer, to sum up, what works best for you relies on your living and personal goals.
Having more than one bank account could be very helpful. On the other hand, having more than one bank account can mean more work, like having to meet more account minimums.