Chase Total Checking Account
When a person considers opening a checking account, the common features most people favor are, the number of local ATM locations closest to home or
work, the number of free checks one can write per year, checking account fees, and whether the bank offers a debit card, though not necessarily in
that order. True, all of the above are surely important, but what most people forget to scrutinize are the details buried in the fine print.
The Chase Total Checking account is a fairly better option than similar ones offered by other big banks, the simple fact being that they disclose
most fees and service charges upfront, rather than stick the customer with hidden charges tagged with the ubiquitous (✴) or (+) symbols at the end
of the first month’s statement.
Opening an Account
First off, opening an account is a breeze as long as one has access to the internet. One does not even need to be physically present at the bank
to do this. The following is required for all persons applying for the account (if applying jointly, the co-applicant must meet these requirements too):
- Applicant must be a legal U.S. resident, which translates to a valid Social Security Number and a US postal address. This is not intended for U.S. citizens who reside outside of the U.S.
- A state issued ID (eg. Driver’s License) with the above postal address.
- A means to make an opening deposit. Either one of these will suffice: debit card, checking account, or savings account, from any bank, including Chase. The minimum deposit is $25, which should keep most consumers happy.
That’s all there is to it. The account should be ready for use within a day if it has been funded by a debit card or an existing Chase checking or
savings account. External bank funding typically takes 5 business days.
Chase Total Checking Features
Currently account activation includes these following features:
- A stellar 24/7 customer service department, which seems to be lacking in most banks these days.
- A VISA debit card that is accepted virtually everywhere. This card also has the new embedded chip that offers added protection from unauthorized
use. Existing customers automatically receive the new card over time, and by doing this Chase imparts a sense of security that their bank is keeping
up with current changes in technology, especially since the threat of identity theft is at an all-time high. Plus, long-time loyal customers don’t
feel like they are being ignored.
- 15,000+ ATMs and over 5,000 branches in the United States.
- Chase Online Banking, Bill Pay, and Mobile Banking. This gives the customer access to their accounts from virtually anywhere in the world. Yes, there are fees involved when the currency exchanged is not in U.S. dollars, but as a convenience, the service can’t be beat.
Chase Total Checking App and Website
Both the Chase website and the mobile app (Android and iOS) are simple, easy to navigate and agile. Apps from other big banks tend to be sluggish
and are way overdue for a good transformation. The Chase app on the other hand, has a clean and uncluttered look and comes with fewer permission
requests i.e. the app only ‘invades’ one’s privacy when required by the customer. Along with viewing account balances and transaction history, one
can make money transfers, deposit checks (uses phone camera), wire transfers, make payments, change pending transactions, find the nearest ATM
location (uses phone GPS), contact customer service, set notifications and alerts; anything that can be done through the website can be done via
the app.
Chase Total Checking Monthly Fee
The app and use of the website is free, though there is a monthly service fee of $12 for having a Chase Total Checking account. This is waived
for accounts with Direct Deposits of $500 or more a month (or) a minimum daily balance of $1,500 or more. So, if one does not want to see that
initial deposit of $25 disappear in a couple of months, they would be well advised to keep track of the above requirement.
Compare Chase Total to Wells Fargo Checking Account
Below is a comparison table that lists some of the advantages that the Chase Total Checking account has over another similar offering.
|
Fees/Services/Tools |
Chase Total Checking |
Wells Fargo Everyday Checking |
|---|
| Monthly Fee |
$12
(waived w/restrictions) |
$10
(50% discount w/restrictions) |
| Minimum Initial Deposit |
$25 |
$50 |
| Overdraft Protection Fee
(per transfer) |
$10 |
$12.50 |
| Overdraft Fee
(per occurrence) |
$15 |
$35 |
| Stop Payment
(per occurrence) |
$30 |
$31 |
| Cashier’s Check
(per item) |
$8 |
$10 |
| Wire Transfers |
$0 to $40
(domestic and international) |
$15 to $30
(domestic only) |
| ATMs |
15,000+ |
12,000+ |
| Branches |
5,000+ |
9,000+ |
| Online Banking |
Yes |
Yes |
| Apps
(Android & iOS) |
Yes |
Yes
(fewer features available via app) |
Wire Transfers
Banks are usually not very flexible with transferring money (incoming or outgoing) internationally, but Chase does provide one with an option. This
can be helpful if one has family or close friends travelling abroad and in case of emergencies. This also works in favour of customers who have a
regular but small number of transactions outside the United States.
Chase Total Checking Interest Rate
Last but not least, this account does not pay any interest at all. There are other banks that do, one of the best options being
Discover online savings account with a 0.95% APY rate.
|