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Chase Private Client is banking for the elite. Or is it? Is all that personalized attention and dedicated service just for the wealthy or can anyone qualify? We’ll help you figure out what it takes to qualify, what the Chase Private Client benefits are, and if it’s worth it to sign up.

There’s currently a $2,000 welcome bonus (earned after completing the qualifying activities required) for new Chase Private Client customers.

chase private client
What is Chase Private Client?

Editor’s Note: Some of the offers below may have expired or are no longer available on our site. 

What is Chase Private Client? (Expired)

Chase Private Client offers a range of exclusive benefits for top Chase clients, from premium banking solutions, personalized attention, and the expertise and investment capabilities of J.P. Morgan. Essentially, it’s more or less exactly what it sounds like: personalized banking and investment solutions tailored to meet your needs.

Chase Private Client: personalized financial solutions
personalized financial solutions

Basically, as a member, you’ll be assigned a team of banking professionals to help you determine and map out your financial goals. That includes a Private Client Banker and a J.P. Morgan Private Client Advisor. You’ll be able to reach out to them over the phone, via email, or at a local branch to get advice and guidance when you need it.

Chase Private Client Benefits
Chase Private Client Benefits

Chase Private Client Benefits

The Chase Private Client reviews explain that the benefits can definitely be worth it if you maximize them to their full potential.

Concierge Banking

Chase Private Clients get premium banking solutions that include priority service, no fees on wire transfers, no ATM fees, and no foreign exchange rate adjustment fees for purchases made on debit card purchases while traveling in foreign countries. There are also Arts & Culture Passes that are available in select cities for members to enjoy.

Other benefits include:

  • Higher Chase QuickDeposit limits ($25,000 per day and $100,000 every 30 days)
  • No Monthly Service Fee on Chase Private Client Checking or Chase Private Client Savings accounts 
  • Higher daily ATM withdrawal limit (of up to $2,000)
  • Receive a 3×5 Safe Deposit Box; 20% discount on larger boxes (subject to availability)
  • Higher daily purchase limit (of up to $7,500 when you use your Chase Private Client debit card)
  • Higher Chase QuickPay with Zelle limits ($5,000 per day and $40,000 every 30 days)

Members build a personal relationship with a Chase banker. They also get access to a 24/7 service line that caters specifically to members. And if a card gets lost or hacked abroad, Chase will rush deliver a replacement card, anywhere in the world, for free.

Chase Private Client promises to help you prepare for the future.
Chase promises to help you prepare for the future.

Investments

On the investment side of things, J.P. Morgan investment capabilities mean retirement planning, portfolio management, annuities, and even saving for college. Financial advisors help you plan adjustments as your lifestyle and goals change, developing strategies to save for the future. They’ll even guide you through a customized financial analysis to help you spend and save smarter now.

Thus, it’s a way to feel confident about your financial future. As seen on the Chase site, that involves:

  • Aiding you so that you have a better understanding of your investment objectives, investable assets, time frame, and risk tolerance
  • Help you manage your financial goals
  • Conduct a Customized Financial Analysis to create a strategy to help you reach your goals; there will be adjustments for unexpected scenarios you might encounter along the way
  • Offer advice on how should manage your financial decisions as you move through the different stages of your life
Chase Private Client offers personalized investment plans.

Who qualifies for Chase Private Client?

However, not everybody can jump right into elite membership. To qualify for, the first hurdle is that you must maintain an average daily balance of $250,000 or more. This can be in any combination of qualifying checking, savings or business deposits and investments accounts.

Rumor has it that if you come close and have been with Chase for years, you might be offered an invitation to join, but that’s not a guarantee.

Bonus

You can also enjoy a $2,000 bonus when you join Chase Private Client. Within 45 days, transfer a total of $250,000 or more in qualifying new money or securities to a combination of eligible checking, savings and/or investment accounts, (excludes: any You Invest℠, J.P. Morgan retirement accounts and CDs) and maintain the balance for at least 90 days. However, this offer is only available to existing Chase customers.

The Cost of Chase Private Client

The information for You Invest℠ by J.P. Morgan has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.

Chase will offer JP Morgan’s managed portfolio service which comes with a 1.25% annual fee that is billed quarterly. But, the good news is you don’t have to use it. You can instead use JP Morgan’s You Invest℠ by J.P. Morgan online trading platform. INVESTMENT PRODUCTS: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE

This service lets you research, trade, and manage your investments. However, it doesn’t have a vast amount of options to choose from. You do have unlimited commission-free online stock, ETF, and options trades, though options contract and other fees may apply. Using a You Invest account and having the necessary assets does count towards eligibility. 

Thus, this is comparable to other large investment firms. However, you can find lower rates elsewhere. Management fees can also be very high, as much as twice the amount of investments purchased from other services. 

The Chase Private Client three-pronged approach to saving.
The Chase Private Client’s three-pronged approach to saving.

Is Chase Private Client Worth It?

If you’re considering joining do the math first. Additionally, if it’s investments you want, look into other investment options and portfolio management first. Likely, you’ll find better rates and returns on investment elsewhere.

Remember, just because they are discounted with the program doesn’t mean they are automatically the most competitive.

However, if you would save more on ATM and foreign transaction fees, mortgage rates, deposit boxes, and museum entries than you’re losing in maintenance and concierge-type fees (that would take a lot of fees), Chase Private Client may be worth a closer look.

Keep in mind that many of the perks that accompany the Chase Private Client checking and savings can also be found in other Chase accounts. Likely, sticking with a less expensive checking account and opting for a different investment strategy will save you money now and in the long run.

Enjoy a $2,000 bonus when you join Chase Private Client.

Within 45 days, transfer a total of $250,000 or more in qualifying new money or securities to a combination of eligible checking, savings and/or investment accounts (this excludes any You Invest℠ by J.P. Morgan INVESTMENT PRODUCTS: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE, J.P. Morgan retirement accounts, and CDs) and maintain the balance for at least 90 days.

Note that this offer is available for existing Chase customers only.

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Johnny Jet Editorial
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13 Comments On "Chase Private Client Review: What Are The Benefits and Is It Worth Joining? (Expired)"
  1. Anonymous|

    I am a JP Morgan Private Client Advisor- this story is not all accurate. The 1.25 is not a accurate statement nor are some other statements in this writing.

  2. Jim|

    Let me get this…I need to give you $ 250,000 to qualify for CPC account. It will in turn pay me a whopping 0.01 % interest. You will take this money and lend it to others under Chase credit card which comes with 29 % interest rate. You will make $ 70 plus thousands off of of my money, while you give me couple of hundred bucks…earned under 0.01 % interest. Is anyone out there dumb enough to fall for this?

  3. Anonymous|

    This article completely contradicts itself. Beginning says no monthly service on private client checking/savings accounts. Later it states will be a $20 monthly service fee. Many details in this article are either completely false or inaccurate. I would never use this story to make a decision especially a financial decision.

  4. Prasad|

    **NEVER believe ANONYMOUS comments. That could be definitely chasing advisors itself who want to sell products.

    Nice article! While I am trying to make up my mind if we want to move from Wellsfargo to Chase and I met Chase branch manager and financial advisor. At the end of it, they did tell me there will be fees (only when I asked) and they never told me what % fees. I will check if fees are indeed a 1.25% or less on a $250K which comes to $3,125 and 0% interest. That’s a LOT.

    On top of this, they make commissions on products they sell for $250k or more.

  5. Ella|

    I recently upgraded my Chase account to a Private Client Account. I wanted to invest the cash in a money market fund and the financial advisor sent me forms to open a brokerage account. When I asked to use the cash to buy a specific fund (Vanguard – best performing in the sector), I was told it was not available. After some research, I then asked about 3-4 other specific funds and none of those were available. The only fund in this sector that was available was a JP Morgan fund (not a surprise) that had underperformed relative to other funds in the sector by around 50 basis points (very significant on a money market fund).

    But I noticed that when I tried to enter a transaction I saw the Vanguard fund showed up, but I could not transact in it. When I pressed on this, only then was I told it was available via the YouInvest discounted brokerage account, but not the regular brokerage account.

    So – the upshot is I was steered directly to the full brokerage account which has higher transaction fees and very limited access to investment products and was never told about the YouInvest account until I pressed the point. Definitely felt mislead and almost cheated, have had other issues with Chase in the past, am likely to close most or all of my accounts with Chase soon.

    1. Johnny Jet Editorial|

      Thanks for your data point!

  6. Brian D|

    Sorry but a lot of the information in this article is incorrect. Especially about the fees.

    The CPC program does NOT charge management fees on your cash in the bank nor on ALL investments. A fee is charged ONLY if you open a Managed investment account with the firm.

    If you want to invest on your own you can open a YouInvest brokerage account and trade for free, these assets will still count towards the $250,000 qualifier for Chase Private Client.

    1. Johnny Jet Editorial|

      Thank you for your comment. You are correct and the post has been updated accordingly.

  7. nicholas|

    The Chase/JPM YouInvest option does charge a .35% fee, it is not free trading like you can get from Vanguard, Fidelity, Ameritrade and most others.

  8. Jordan|

    The YouVest fee only applies to a “Portfolio” account – their robo-advisor product. You can open a self-managed YouVest account with no fees and get something like 100 free trades/year.

    Also, the 0.35% YouVest Portfolio fee is partially reimbursed. They default to investing in mostly their own JPMorgan ETFs, and whatever expense ratio the fund charges is credited against your portfolio fee. After 6 months or so, net I’ve only paid a few basis points in fees…(though you can always do it for free if you insist on going fully “DIY”)

    One more thing to note – their “JPMorgan managed” accounts and “YouVest Portfolio” accounts use the same investment strategies (at least at my level of investing). When I upgraded to Sapphire Banking I sat down with an advisor to talk about some of their investing options, he did a full analysis of my existing investments and showed how I would have faired in 2008 with the same investment mix then showed what they would invest me in to better protect against risk. I appreciated the insight, but the management fee was 1%! A few months later, the YouVest Portfolio product launched and I compared the plan against what the advisor sent me home with – same exact strategy for a third the fee!

  9. SEKHARIPURAM (SAM) BALAKRISHNAN|

    We opened our Chase Private Client account after we had already opened our Chase checking account. We transferred investments worth $500,000 from Charles Schwab. We are supposed to get a bonus amount of $2,000 from Chase. As far as I know, there was no deposit of this amount in our Chase Private Client account. Are we correct?

    1. Johnny Jet Editorial|

      Was it a points bonus? Maybe, they deposited Ultimate Rewards points in your account. If not, I would reach out to Chase for clarification.

  10. Sid|

    Having a loan counts towards the $250k. So if you have a mortgage that can easily qualify you.

    The asset management I did not find impressive. The free services like wire transfer and atm waive is pretty cool.

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