Annual Percentage Yield (APY)
0.01% effective as of 08/13/2021. Interest rates are variable and subject to change
Is Chase trustworthy?
JPMorgan Chase & Co. is Chase’s parent company. The Better Business Bureau gives JPMorgan Chase & Co. an A+ in trustworthiness. A good BBB rating signifies a company responds effectively to customer complaints, has honest advertising practices, and is transparent in how it handles business.
Although its BBB rating is strong, JPMorgan Chase & Co. has dealt with a few scandals in the past few years. Here are some recent conflicts:
Similar banks, such as Wells Fargo and Bank of America, have their own history of public controversies.
How Chase Sapphire Checking compares to other banks
Your choice between Chase, Bank of America, and Wells Fargo may come down to whether you can waive the $25 monthly fee with each. The Bank of America Advantage Relationship Account and Portfolio by Wells Fargo make it easier to waive the fee than Chase Sapphire. But if you do go with Chase, you’ll enjoy additional benefits.
Chase Sapphire doesn’t charge foreign transaction fees. Bank of America Advantage Relationship still charges foreign transaction fees, and Portfolio by Wells Fargo does if your balance is under $250,000. Chase Sapphire is also more generous about ATM fee reimbursements and outgoing wire transfer charges.
How Chase Sapphire Checking compares to other Chase accounts
If you like all the benefits of Chase Sapphire but want access to more perks like a private banker and discounts on loans, you may prefer Chase Private Client Checking. You will need a combined $150,000 in all of your linked bank and investment accounts to waive the $35 monthly fee, though.
Chase Premier Plus makes it easier to waive the monthly fee than Chase Sapphire — you’ll need a combined $15,000 in all of your accounts, not $75,000. It has some similar perks, like four waived ATM fees each month and waived monthly fees on linked Chase accounts. You’ll still pay for services like foreign transactions and overdrafts, though.
You might prefer Chase Total or Chase Secure for their sign-up bonuses. Chase Total provides several ways to waive the monthly fee. You’ll pay a $4.95 monthly fee with Chase Secure, but it keeps you from overdrawing your account so you won’t pay fees.