How to open a Chase bank account: a step-by-step guide

Only because Chase bank is so widespread, opening an account with them is a swell idea. And the truth is the same for other financial entities of a similar caliber. However, for someone who isn’t savvy in this area, even this task, which is fairly straightforward may seem difficult.

As the guide below will illustrate, opening with this brand or any other for that matter isn’t difficult at all. It’s only fair that the guide goes through other queries, such as remote processes and perks. Also, if you’re considering switching banks, we will briefly address how you can close Chase account according to Rates. Now, let’s get started!

The exact process

While we’re here there really isn’t any point in further delay and we might as well get straight into it, which means going through the requirements of account opening in general. Necessities on your part include:

• Main IDs, like Passports, birth certificates for minors, green cards or matriculation consular cards
• Alternative IDs like student IDs, social security cards, foreign national IDs, utility bills and bank statements, which may also double as proofs of address

It should be noted that Main IDs could instead be alternatives depending on the person’s standing regarding US citizenship. An example of this is green card holders having matriculation consular cards as alternates, but those without green cards have them as primary IDs. Once identification and evidence of US addresses are in hand, the process commences. This is as follows:

Deciding on place

This is an obvious place to start and needs a lot of research on your part. Through this, you get a feel for organizations and their offerings.

It is crucial to check things such as fees and interest rates. Chase’s selling points center around the establishment and diverse account offerings and it has over 4,500 branches, with 500 more set to come by 2027.

Meeting demands

This is the spot where all necessary account opening tools, particularly the IDs come into play. That said, others accompany these, such as being of the appropriate age to have an underage account (6-17).

It also demands that parents/guardians have to be present. It’s also here that other elements are found out, including the fees associated with certain account types, so research is very much necessary.

Picking the perfect offering

Speaking of account types, the previous step bleeds into this one perfectly, as here we find what we’re seeking to open. Two types exist: checking and savings accounts (with Chase having several subtypes under both).

Each of these has its requirements such as monthly and ATM withdrawal charges or lack thereof in terms of the latter. Answering the question on how to close Chase an account is also a vital piece of info and we’ll get to that soon.

Ironing out further details

It’s also worth knowing other details before application, with one in particular, the initial deposit being quite cardinal. Chase’s accounts don’t have this though.

Focusing on application

Once all the above have been sorted through on your end, you can begin with the application process. When done at actual brick-and-mortar branches, all necessary information such as the IDs and evidence of addresses are given and entered in provided forms. This naturally comes with a host of other information which includes your details, like names and contacts. 

This can also be achieved with the web’s help, making remote applications via Chase’s application possible. Doing this, however, requires you to have a US social security number. If you do possess one, everything, even the setting of preferences can be done remotely.

Once your application is approved, the process is complete. All that’s left is for you to use it and keep it alive.

The perks of getting opening said accounts

If you’ve indeed gone down this path and have one or a few of Chase’s myriad of accounts, a few benefits can be enjoyed. The first of these is assured security, especially because this brand is FDIC insured.

Another thing to think of is the brand’s aforementioned widespread nature, not only across the US but in a hundred different nations. This is great because you have to worry about running into an ATM.

Evaluating rates

Other upsides to think about really come down to your choice of accounts. Chase’s checking accounts, for example, require no initial minimum deposit to open and once you have one, you can make unlimited amounts of withdrawals. Also, for some accounts, the monthly maintenance fees can be waived if you reach a certain threshold regarding the funds held within your account.

While certainly beneficial, some drawbacks do exist. This specifically refers to Chase’s savings accounts and their subpar interest rates, which are at only a tenth of a percent for any variant.

Ending things

If the above displeases you or you wish to switch a bank and close Chase account, you will need to follow a few easy steps. Much like with getting things started, ending them is possible within online methods via Chase’s application It is particularly convenient and quick because of remote access. 

If this doesn’t suffice, it’s always worth contacting branches directly and gaining their help. This could be done in a few ways, like:

• In-person visitations, in which appropriate forms are given
• Via mail, in which you send a letter with the right information and signature
• Via phone, where you provide the same information on a voice call to Chase’s customer service, sans signature
• Cash withdrawal. You can withdraw cash from the ATM or a local bank. ATM are limited to $1.000 withdrawals a day, local branches — up to $3.000 per day.

Final thoughts

The sheer number of banks and credit unions out there makes it so that choosing one over others is a challenging task that requires serious research. However, if you end up finding said bank and that so happens to be JP Morgan’s creation, you might as well get the process right.

What the above has done is provided the necessities so the process is smoother when you get to that point. Even knowledge that answers on how to close Chase account questions is provided in case the need arises. The important thing in either case is to have the proper documentation and have the appropriate account you seek in mind.