Chase Total Checking and Savings: Easy Everyday Banking
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Years ago, when you wanted to open a checking or savings account at a bank, you'd head over to a bank in your neighborhood. These days, setting up a new account no longer requires a live person to walk you through it. There are banks exclusively online to prove it. (See also: Banks Still Offering Free Checking and Great Interest Rates)
If you're shopping for a bank to open a checking or savings account at, you're probably wondering which bank is best: local credit union, exclusive online bank, or one that provides both online and brick and mortar services. While online exclusive banks may offer slightly lower fees or higher APYs, a large, traditional bank can provide valuable resources and services along with integrated online and mobile options that make banking a breeze.
Take, for example, Chase Total Checking®. Their motto is “Simple and Accessible” — and with 15,500 Chase ATMs and 5,400 branches across the nation, it won’t be too difficult to find a location to get cash or deposit checks in person. And you can get even more out of your banking if you open a Chase Savings SM account too. And they're offering new customers up to a $250 bonus! See details below.
To open a Chase Total Checking® account, you need to deposit a minimum of $25. There is a $12 monthly service fee, which you can get around by doing one of the following:
- Make direct deposits to your account totaling $500 or more.
- Maintain a $1,500 minimum daily balance.
- Maintain an average daily balance of $5,000 or more in qualifying linked deposits or investments.
The minimum deposit for a savings account is also $25. The monthly fee is $5, which is waived if you do one of the following:
- Maintain a $300 minimum daily balance.
- Have at least one repeating automatic transfer of at least $25 from your personal Chase checking account.
- Link your savings account to a Chase Premier Plus Checking, Chase Premier Platinum Checking, or Chase Private Client Checking account.
- Be younger than 18 years old.
Chase is offering $150 for their new customers who open a Chase Total Checking® account and set up direct deposit. If you open a new Chase Savings SM account (even if you already do some of your banking with Chase), you can get $100 by depositing $10,000 in new money within 10 business days and keeping a $10,000 balance for 90 days. This means that you can receive $250 if you qualify for both offers! But be sure to jump on them soon — these offers expire October 14, 2015.
If you prefer to do your banking from the comfort of your living room — or really, anywhere with Internet connection — Chase offers online and mobile banking. Some of their services include:
- Chase QuickDeposit: Take a picture of your check and deposit it with the Chase Mobile App. Easy!
You can set up a repeating automatic transfer from your Chase checking to your savings account. and forget about it! Actually, don't, because it's important to monitor your money. But there's no denying that Chase's Automatic Transfer Program takes most of the effort out of saving, and it's an easy way to get the monthly fee on your savings account waived — just set the transfer amount to at least $25 a month.
Need to keep a close eye on your account? (I mean, who doesn’t?) Chase will text or email you if your account is low on funds, there is a large transaction, or other account activity. It’s easy to personalize what account alerts you receive and how you receive them.
$250 is an attractive sign-up offer! Plus, between the online/mobile banking offerings and account alerts, it’s easy to stay on top of your finances wherever you are. And you'll likely never worry about having to hunt down a Chase ATM or branch, if you need to access your money quickly or get a banker's help.
You might forget about the minimum balance or requirements for waiving the monthly fee and get hit with it. That's one of the disadvantages of having an account that "waives9quot; your fee rather than provides it for free. Capital One 360 offers a free interest bearing checking account, and Discover offers a savings account with a whopping 1.15% APY for all balances.
Are Chase Total Checking® and Savings SM Right for You?
If you're looking for a solid bank with both a physical presense as well as plenty of online and mobile conveniences, Chase is a great option. Along with their basic banking offerings, Chase has a good reputation for their other consumer products like credit cards. Having a lot of your financial accounts under one company can be incredibly convenient.
Top 10 Checking Accounts With Sign Up Bonuses (PNC, TD)
Due to escalating competition among banks for new customers, many are paying bonuses when depositors open checking accounts and meet certain requirements. These bonuses can come in the form of cash, gifts or airline miles. The following are the top 10 checking accounts offering sign-up bonuses, as of May 2016.
The Virtual Wallet with Performance Select checking account at PNC Financial Services Group Inc. (NYSE: PNC) offers a $300 sign-up bonus for accounts that receive at least $5,000 in direct deposits and when customers make a minimum of 10 purchases with the debit card linked to the account within 60 days of opening the account. The bonus payment is credited within 60 to 90 days of satisfying the account requirements.
A depositor who opens a TD Convenience Checking account through the bank's online portal can receive a Samsung Galaxy smartphone from Toronto-Dominion Bank (NYSE: TD). The account does not have a requirement for a minimum opening deposit. The smartphones are available with two-year contracts from Verizon Communications Inc. (NYSE: VZ) or Sprint Corporation (NYSE: S). The smartphone offer must be redeemed within 60 days of opening the account.
A new customer of JPMorgan Chase & Co. (NYSE: JPM) can receive a two-tiered sign-up bonus when he opens a qualifying checking account with a linked savings account. The bank offers $200 for checking accounts that receive a direct deposit within 60 days of being opened with a minimum initial deposit of $25. The second tier is a $150 bonus for opening a savings account with a minimum of $10,000 and maintaining a $10,000 balance for 90 days.
The Premier Plus Checking account at Chase bank pays sign-up bonuses of $400 for accounts that remain open for at least six months and receive at least one direct deposit within the first 60 days. Customers can avoid the monthly service fee of $25 by maintaining a minimum of $15,000 in linked savings or investment accounts at the bank, or making automatic payments from the accounts to approved mortgages originated by the bank.
The Brewers Checking account at Associated Banc-Corp. (NYSE: ASB) pays depositors $150 to open accounts. An account must be opened with a minimum deposit of $100. Customers are required to make at least three payments through the bank’s bill-paying system or receive a minimum direct deposit of $300 within the first 45 days. Account holders also receive discounts on tickets to selected Milwaukee Brewers baseball games and team merchandise.
The Essential Checking account at Fifth Third Bancorp (NASDAQ: FITB) offers $200 to new customers or those who have not had accounts at the bank for the previous 12 months. The account requires an initial deposit of $50. The bonus is paid after customers use the automatic bill payment system three times and receive one direct deposit within 90 days after opening the account.
New customers of BMO Harris Bank, which is a subsidiary of the Bank of Montreal (NYSE: BMO), are offered a sign-up bonus of $200 after one direct deposit of at least $300 in each of the first two months after the account is opened. The offer is also valid for customers who have not held accounts with the bank for at least 12 months. The bonus is earned after receipt of a qualifying direct deposit and paid approximately 120 days after the opening date of the account.
Qualifying customers of M&T Bank Corporation can earn a $150 bonus by opening a personal checking account. To receive the bonus, customers must receive one direct deposit of at least $100 within the first three months after the account is opened. The bonus is paid within 90 days of the qualifying deposit.
The Express Checking account at First Tennessee Bank pays a depositor $150 when she opens an account online using the promotional code OFB150. The requirements for the bonus are an opening deposit of $300 and one direct deposit within the first 60 days. The account must remain open for a minimum of six months.
Customers interested in accumulating airline miles can earn 1,000 AAdvantage miles with American Airlines Group Inc. (NASDAQ: AAL) by opening a Mileage Checking with Interest account with BankDirect. After the account is opened, customers can earn thousands of additional airline miles by meeting requirements for direct deposits, paying bills online and making transactions using the debit card linked to the account. The bank also pays 100 AAdvantage miles per month for every $1,000 in the account, up to a maximum of $50,000.