Last Updated: 04/18/2025
SuperMoney User Recommendation Score +58
Strongly recommended33 total votes
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Highlights
Community Rating
Strongly recommended
APY (Annual Percentage Yield)
0.01%(Verified 06/21/2024)
Disclaimer popup with additional information
Minimum Opening Deposit
Starting at $0
Minimum Balance to Earn APY
N/A
Number of Reviews
Chase Savings Account Review
Chase Savings Account is offered by Chase Bank, a bank founded in 1877 and based in New York, NY. Chase savings account are available in 48 states and Washington, DC.
Key Takeaways
- Low interest rate. The maximum annual percentage yield for this account is only 0.01%.
- Charges a monthly fee. This account charges a monthly fee of up to $5, but the fee may be waived if you keep a minimum balance of$300.
- No minimum initial deposit. There is no minimum balance required to open an account online.
Chase savings account Pros & Cons
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Chase savings account FAQ
Are savings accounts from Chase Bank federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC #628). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
Does Chase Bank offer a signup bonus?
Chase savings account doesn't offer a signup bonus.
What is the minimum initial deposit for Chase savings account?
There is no minimum deposit to open a Chase savings account.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | Starting at $300 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Account Transfer to Avoid Monthly Fee | $25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Chase Savings Account offer?
Chase savings account offers an APY of 0.01% (APY stands for annual percentage yield, rates may change).
The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually. What fees does Chase savings account charge?
Chase savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.
However, you can waive the monthly fees if you have a minimum daily balance of $300.
- Outgoing domestic bank transfers come with a $35 fee.
- Outgoing international bank transfers come with a $50 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
- An overdraft on your account will trigger a $34 fee per item.
- Chase savings account charges $6 every time you request a paper statement.
Does Chase savings account charge overdraft fees?
Yes, Chase savings account charges a $34 overdraft fee.What features and perks does Chase savings account offer?
This savings account includes the following features:
- Fraud monitoring - Chase savings account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
- Mobile Banking Services - Chase savings account allows you to manage your money online or with a mobile app.
Can you set up a direct deposit to Chase savings account?
Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.
What is the customer support email for Chase savings account?
The customer support email for Chase savings account is customerdepartament@chase.com.
How do people rate the customer service and user experience of Chase savings account?
Overall, Chase savings account is strongly recommended based on community reviews that rate customer service and user experience.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 6:00PM
Saturday
9:00AM - 1:00PM
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Other Savings Accounts from Chase Bank
Rating not yet determined
APY (Annual Percentage Yield)
0.01% - 0.05%
Disclaimer popup with additional information
Minimum Opening Deposit
N/A
Minimum Balance to Earn APY
N/A
SuperMoney Net Recommendation Score
SuperMoney users strongly recommend this product, giving it a user recommendation score of +58, or 4.2 on a 5-point rating scale.
+58
-1000+100
No one recommends
Everyone recommends
Chase Savings Account Community Reviews
Would you recommend Chase Savings Account to your friends?
U
Anonymous
Dec 14, 2021
May or may not recommend
I'm a new customer and they best bank with loans
RB
Rzon B.
Feb 25, 2021
May or may not recommend
You must be disciplined to have this type of account. Sadly, at the time I was trying to save with Chase, I was not able to bring in enough currency, that would sustain me, without me touching it. But now I understand what it takes to be able to save and know that there are consequences. Vomiting is never a good thing, neither is taking out a tooth, because were ...Show More
TM
Tadgh M.
Jan 24, 2021
May or may not recommend
I've been using Chase Savings for about 2 years now and I have no complaints! It is so easy to set up, and you don't even have to go to the bank to do it! The Chase Banking App is very user friendly and makes transferring money to and from the savings account painless. I currently have an automatic savings set up where everyday a few dollars are automatically transferred ...Show More
DD
Diane D.
Jan 15, 2021
May or may not recommend
So far their savings account program is working for me. There are a couple of pros but some cons as well. First pro is that signing up was very easy. Also there were many options to sign up. I just did it old school at the bank and it took less than 30 mins. The seconds pro is that you can that when you check your checking account online your ...Show More
LS
Lester S.
Jan 3, 2021
May or may not recommend
Wanted to open a savings account but my experience with their checking account and hidden charge if I don't keep a certain balance did not go well. I would not recommend chase because of their unreasonable charge on having a bank account! So if you are planning to open an account please make sure to ask about the fees (if any monthly minimum balance to keep or any other service ...Show More
PF
Phil F.
Dec 30, 2020
May or may not recommend
Chase bank has some things going for it that cannot be understated. It is widespread, with a free ATM option, and with solid customer support, though I personally argue against the use of inaccurate automated bots for phone calls.
A significant downside to Chase, I would say, are the fees for an emptied account, something that activates almost right away, as well as the ability to overcharge one's account. These accidents ...Show More
CS
C S.
Dec 22, 2020
May or may not recommend
I will always recommend chase bank for just about any financial service. I use their total checking account and the chase savings account. I have no complaints. The APY isn't very high but it is at a very typical rate of 0.01. No monthly fees and a low minimum balance makes this a great savings account for college students. There are high transfer fees but as long as you save ...Show More
BA
Brian A.
Dec 16, 2020
May or may not recommend
I would not recommend a chase savings account due to the extremely low interest rates offered. It is currently a .01% APR, which is much lower than that of their competitors. You are probably better off keeping your money elsewhere, such as a checking account or a savings account with a different bank.
RK
Rafe K.
Dec 12, 2020
May or may not recommend
I have been a Chase customer for over 3 years now . From my experience with other banks, Chase is by far the best when it comes to savings accounts . They have a friendly and helpful customer service. The no-fee accounts are amazing for a student like me. And of course the ease of using their mobile app to make transactions is another great thing about Chase . ...Show More
TG
Trey G.
Dec 11, 2020
May or may not recommend
Chase has great incentives for every day people looking for a quality savings account. The account not only has a decent APR, it forces you to save through automatic transfer. Something that may go both ways is the $6 fee they charge, however to me a savings account is for savings. So I don’t see much wrong with that.
BY
Barron Y.
Dec 8, 2020
May or may not recommend
They have many places to receive cash back. The only downfall I had with them is the Custer service wasn’t all that great. In the bank is great it’s mostly the 24 hour call line. They sent me from one department to another I finally gave up and went to the bank in person
MW
Madison W.
Dec 2, 2020
May or may not recommend
I have had issues time and time again with Chase, facing hidden fees all over the place. These accounts are very difficult to view and make me uneasy when I do not have virtual access to them easily. Definitely have dealt with way easier savings accounts at other banks.
JB
Jake B.
Dec 1, 2020
May or may not recommend
Chase all the way. I have used chase for about 12 years now and I have few complaints. I wish I earned more interest in the account but it is a typical savings account. The main reason I like chase is because I trust chase, they are easily accessible, and there app is very helpful. I would also recommend their total checking account too if anybody is reading this.
LW
Lb W.
Nov 28, 2020
May or may not recommend
Chase's customer service is what sets them apart from the other banks that offer savings accounts. They've gone above and beyond to resolve any issues that I may have had. So, I'll continue to use them because of their customer service.
JA
Jacob A.
Nov 16, 2020
May or may not recommend
I would recommend using a Chase savings account because Chase bank is always a reliable institution with some competitive offers. I have used a Chase checking and saving account since I was a teenager and I would recommend for anybody who is still in high school to use chase or another big name bank. I recommend the Chase Saving account, but you should definitely check your other options first because ...Show More
DJ
Dennis J.
Nov 11, 2020
May or may not recommend
I recently switched my savings account to Chase Savings and was borderline shocked at the sheer amount of features and benefits they offer that you can't find with the majority of their competition. Their customer service is spectacular and provide a personal touch that often can be overlooked.
KD
Kelish D.
Nov 1, 2020
May or may not recommend
When it comes to great customer service, then it's definitely Chase for me! Not only do they make online savings and banking relatively better, They also support students and low-income earners which is rare for most banks either offline or online nowadays. What's more, you can easily withdraw your funds immediately incase of emergencies. If there were stars, I'd give them a 5
DT
David T.
Oct 28, 2020
May or may not recommend
Chase bank has one of the friendliest customer services in Chicago. There's this welcoming feeling you get when you walking into the bank. Although I never had to use their online representatives before, I bet they do right by them. Good banking policies and great staffs
SE
Stella E.
Oct 27, 2020
May or may not recommend
I really had a poor savings habit until I came in contact with Chase Savings. What fascinated me the most about them was the signup bonuses, and the waiver on the amount on bank transfers. I think the bank is a good one for low-income earners and for students in need of quick withdrawals during emergencies
SF
Scarlet F.
Oct 25, 2020
May or may not recommend
It's the first time I’m using savings account and I'm very satisfied with the service and reasonable prices, so with my experience I will tell a friend.
Showing 20 of 33 reviews
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