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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. More on that below.
The information for the Chase Private Client has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
What is Chase Private Client?
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.
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
The Chase Private Client reviews explain that the benefits can definitely be worth it if you maximize them to their full potential.
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.
On the investment side of things, J.P. Morgan’s 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
Who qualifies for Chase Private Client?
However, not everybody can jump right into elite Chase Private Client 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 investment 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.
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, (this excludes Chase business checking and savings accounts, 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. However, this offer is only available to existing Chase customers.
This offer expires on 01/15/2021.
Available in: AZ, CA, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KY, LA, MA, MD, MI, MS, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, TN, TX, UT, VA, WA, WI, WV
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 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 (though interest rates are variable and subject to change). Management fees can also be very high, as much as twice the amount of investments purchased from other services.
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. 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.
There’s also the $2,000 bonus you can earn 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 Chase business checking and savings accounts, 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.
This offer expires on 01/15/2021. Note that this offer is available for existing Chase customers only.
- Chase Sapphire Checking
- Best Checking Account Bonuses
- Business Checking Accounts
- Best Chase Checking Accounts
Chase Sapphire Preferred® Card
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
- 2X points on dining at restaurants including eligible delivery services, takeout and dining out and travel & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
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Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.