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Both Chase Private Client and Sapphire Banking are some of the best Chase bank accounts. However, do you know which one is better for you? You may find that one is more suited for your financial situation than the other. This Chase Private Client vs Sapphire Banking comparison can help you decide.

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This Chase Private Client vs Sapphire Banking comparison can help you learn which option is the best for you.

Chase Private Client

Chase Bank’s top-tier product is Chase Private Client. Key benefits include a dedicated banker, waived fees for most banking products, and personalized investment guidance.

Plus, members have the opportunity to earn $2,000 in bonus cash by completing certain activities.

How to Qualify for Chase Private Client

You will need to maintain a combined minimum average daily balance of $250,000 in your personal, business, and investment accounts.

If you can cross this bar, you can qualify for Chase Private Client. You will need to send an inquiry to Chase to start the application process. 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

After meeting with Chase, these are some of the benefits you can look forward to.

Signup Bonus

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.

Banking Benefits

All Chase Private Client members get these Chase Bank perks:

  • Free 3″ x 5″ safe deposit box (subject to availability and Chase branch)
  • No ATM fees worldwide
  • Higher daily deposit and withdrawal limits
  • No Chase fee for incoming or outgoing wires
  • Dedicated banker to build a CD ladder

You also won’t have to pay any monthly account fees for your Private Client savings or checking accounts.

The higher daily limits can also be a boon. For instance, your daily limit is $5,000 for Chase QuickPay with Zelle. Your daily ATM withdrawal limit is $2,000 per day. With Chase QuickDeposit, you can deposit up to $25,000 daily or up to $100,000 per month.

When traveling, you and your family may enjoy the Chase Private Client Arts & Culture Program. This perk gives you special access to select local points of interest. And if you happen to lose your debit card, Chase will rush to deliver a replacement card around the world for free.

It’s also possible to qualify for reduced interest rates on select Chase Bank loans. There are no additional perks if you own a Chase credit card.

Investing Benefits

Being a Chase Private Client also lets you get a dedicated personal advisor at J.P. Morgan. This advisor can help you create a personalized investing plan to help you build wealth.

Your J.P. Morgan Private Client Advisor can help plan your short-term and long-term money goals. As your life situation and goals change, you can meet with your advisor to develop a new plan.

If you prefer, your advisor can manage your investments. There’s also a robo-advisor option that automates the investment process but can have fewer fees. You get access to You Invest℠ by J.P. Morgan INVESTMENT PRODUCTS: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE if you prefer DIY investing. You won’t pay trade commissions for stocks and ETFs that you buy or sell.

Related: Chase Private Client Review

Chase Sapphire Banking

The information for Chase Sapphire Banking has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.

Chase Sapphire Banking is easier to qualify for than Chase Private Client as you need a smaller account balance. However, the Sapphire Banking benefits are not as rich as Private Client, they are still valuable. Note though, there is no current signup bonus offer. Here’s what to know in this Chase Private Client vs Sapphire Banking comparison.

How to Qualify for Sapphire Banking

You need $75,000 in combined banking and investment assets to qualify for a Sapphire Banking account. Then you will need to maintain this balance to waive the $25 monthly account fee.

You can open an account online or apply at your local Chase Bank branch.

Banking Benefits

While you won’t get a personal banker, you get enhanced benefits. You can also avoid those pesky bank fees that your current checking account charges.

  • No ATM fees worldwide
  • 4 free overdrafts every 12 months
  • Zero Chase wire transfer fees
  • Higher ATM withdrawal and purchase limits for your debit card
  • No foreign exchange rate fees on international debit purchases and withdrawals

You will also get a special relationship bonus for a Chase Premier Savings account. Completing at least 5 transactions with your linked Chase checking account lets you earn the current Premier bonus.

If you own a small business, Chase waives the monthly fee for your Chase Total Business Checking®, one of the best business checking accounts available.

Investing Benefits

Parking your investments at You Invest℠ by J.P. Morgan can be the easiest way to maintain the $75,000 minimum balance requirement.

Although you don’t need to be a Sapphire Banking member to use You Invest, this brokerage has competitive fees.

Some of the key Sapphire Banking benefits include:

  • Unlimited commission-free stock, ETF, and options trades ($0.65 per options contract). Options contract and other fees may apply
  • Buy no-load mutual funds with $1 minimum investment
  • $0 minimum account balance
  • Managed portfolios are available
  • Brokerage, Traditional IRA or Roth IRA account options

You won’t get a personal investment adviser as Chase Private Client members do. But You Invest offers two different automated investing options.

The You Invest Portfolio is a robo-advisor requiring a $500 minimum investment. You won’t directly speak to a J.P. Morgan advisor. However, the advisory team oversees the investing algorithm. This team also invests your cash in relation to your investing goals and risk tolerance.

For semi-independent investing, consider the Portfolio Builder tool. You Invest helps you create a responsible asset allocation. You can still add individual investments outside your pre-made portfolio with this option.

Alternatively, if you like You Invest℠ by J.P. Morgan and want to open and fund a new You Invest Trade account,  you can enjoy up to $725. To earn the $725, you need to open and fund a new You Invest Trade account with $25,000 or more in new money within 45 days. New money is cash or securities must be from a non-Chase or non-J.P. Morgan account. Maintain the balance for 90 days and Chase will add your bonus in 10 business days.

There is no monthly service fee and no minimum balance to open.

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.

Other Sapphire Banking Perks

You get a few other lifestyle perks for being a Sapphire Banking member:

  • Early access to ticket pre-sales and special seating at sports and entertainment events
  • Special access to sports and entertainment hospitality lounges
  • Access to Chase Bank banking, home, and small business specialists

Now, you can get some of these entertainment benefits by having a Chase Sapphire credit card (the two options are the Chase Sapphire Preferred® or the Chase Sapphire Reserve®. Owning the Chase Sapphire Preferred or Chase Sapphire Reserve sometimes lets you attend special areas (like a VIP section of sorts) at special events like concerts.

It’s important to note that the Sapphire credit cards are a different product than the Sapphire Banking product. You will need to apply for each product separately.

Related: Chase Sapphire Banking review

When Chase Private Client is Better

Chase Private Client is the better option (for you) in these instances:

  • You have at least $250,000 in banking and investment assets
  • Want a personal banker and investment advisor
  • Can use the exclusive Chase Bank perks like a safe deposit box or higher daily transaction limits

Not every person has a liquid net worth of at least $250,000. If you do, this is your best Chase Bank option. The good news is that you won’t pay any account fees for your personal or business Chase accounts.

When Chase Sapphire Banking is Better

Sapphire Banking can be a better option for more people because of the lower account balance requirement. It’s a lot easier to maintain a $75,000 combined average balance versus a $250,000 combined daily balance.

While you won’t get as many perks as Chase Private Client, these benefits can be valuable:

  • Free ATM reimbursements worldwide
  • Up to 4 fee-free overdrafts every 12 months
  • Waived wire transfer fees

Summary of Chase Private Client vs Sapphire Banking

The better account option for you may come down to how much money you have in the bank. You need at least $250,000 in bank and investment assets to join Chase Private Client. Until you reach that mark, Sapphire Banking can be your best alternative to avoid the fees that other Chase checking account products charge.

FAQs

What is Chase Private Client?

Chase Private Client is the most exclusive Chase Bank account option. Benefits include a personal banker and J.P. Morgan investment advisor. You also enjoy higher daily transaction amounts and plenty of waived banking fees.

There are no monthly account fees, but you must have a minimum account balance of $250,000. This balance can be within your banking and investment accounts.

If you can maintain the minimum balance, you can apply for an account at Chase.com or in-branch. After speaking with a Chase representative, you will see if you qualify for this account.

Is Chase Private Client worth it?

The invitation-only Chase Private Client can be worth it if you have at least $250,000 in liquid assets. Because your bank deposits will earn minimal interest, Private Client can be worth it if most of your balance is with You Invest℠ by J.P. Morgan.

The best reason to join Chase Private Client is for personal access to a banker and investment advisor. As you have a high net worth, having a personal plan can help you build wealth and preserve it for your family.

What is Chase Sapphire Banking?

Sapphire Banking is Chase’s second-highest banking product with Chase Private Client being in the top spot. This product is open to the general public and doesn’t require an invitation.

Key benefits include:

  • Free worldwide ATM reimbursements
  • 4 free overdrafts every 12 months
  • Special Chase Premier relationship bonus
  • Lifestyle perks including access to ticket pre-sales and special seating

To join (and avoid the $25 monthly account fee), you will need to maintain a minimum $75,000 account balance. This balance can be between your Chase savings, checking, and You Invest℠ by J.P. Morgan accounts.

Is Chase Sapphire Banking worth it?

Chase Sapphire Banking can be worth it if you can maintain the minimum combined account balance of $75,000 to waive the $25 monthly account fee. If so, and the fee savings and Sapphire Banking perks, are more valuable than your current bank account, it’s worth it.

Other perks that can make opening a Sapphire Banking account worth it include:

  • Free worldwide ATM reimbursements
  • No Chase Bank wire transfer fees
  • Up to 4 overdraft fee waivers every 12 months
  • Dedicated banking service line

Make sure you complete the bonus offer requirements to make your wallet a little thicker.

Josh Patoka
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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.

6 Comments On "Chase Private Client vs Sapphire Banking"
  1. Jon|

    Is there a comparison of all major banks with high medium low $ requirements?

    I currently have TD bank that had free worldwide atms but only required $2500 min. They are removing it so want to go to a new bank. Probably schwab.

    But good to know other options as well as far as perks!

  2. King James|

    With Sapphire banking you do get a personal banker because I have gotten a call from my Dedicated banker and also you do get a 3 x 5 safe deposit box with no fee for having sapphire banking account

  3. fred medrano|

    can i obtain a chase safire account if i am a chase private client?

    1. Johnny Jet Editorial|

      Yes, you would be eligible for a Sapphire Preferred credit card.

  4. Amber|

    is the Private Client option not as recommend if you arent using the You Invest? meaning the private banker is actually managing the investing? how does that compare to other options outide Chase?

  5. Nancy White|

    Do you have a basic savings account available with no requirements and small amount of interest

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