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Chase Bank now offers a premium Chase Sapphire℠ Checking account with a $1,000 bonus (after completing the qualifying activities required). These include opening or upgrading to a Chase Sapphire℠ Checking account and depositing money into your new account. This is the premier checking account offered by Chase. If you own a Sapphire credit card, should you park your cash at Chase too? Let’s break it down.
Editor’s Note: Some of the offers below may have expired or are no longer available on our site.
What is Sapphire Banking? (Expired)
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.
In mid-2018, Chase rebranded its Premier Platinum checking account into a Chase Sapphire℠ Checking account. Of the three Chase checking account options, this is the highest-tier.
As a result, it has the best benefits of all three Chase checking accounts. But, you must also maintain a daily balance of at least $75,000 in savings, checking, and investments to avoid a $25 monthly fee.
If you can keep at least $75,000 combined in cash at Chase Bank and investments at J.P. Morgan, this can be a good checking account option for you.
Exclusive Sapphire Banking Account Benefits
In a world of online banking, brick-and-mortar banks don’t dominate the personal banking world like they used to. They have to offer some additional perks that online banks don’t.
Maybe you’re a current Sapphire Preferred or Sapphire Reserve credit cardholder. If so, you might be able to earn bonus Ultimate Rewards points by switching banks. But, these bonuses come and go. Plus, they’re only one-time events.
Instead, you should focus on these recurring Sapphire Banking benefits instead.
No ATM Fees Worldwide
The information for Chase Premier Plus Checking℠ has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
All Chase Bank customers already have free ATM access at any Chase Bank ATM. As a Sapphire Banking account, you don’t pay ATM fees at any ATM in the world. You won’t pay a foreign transaction fee on international ATMs either.
The mid-tier Chase Premier Plus Checking℠ account waives the fees on non-Chase ATMs up to four times per statement period. If you use non-Chase ATMs at least 4 times per month, Sapphire Banking helps you save money.
Sapphire debit card lets you have higher daily withdrawal limits too.
Free Investing with J.P. Morgan
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.
In addition to having your credit cards and savings at Chase, you can also keep their investments with them too.
You Invest℠ by J.P. Morgan is Chase’s investing platform. INVESTMENT PRODUCTS: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
As a Sapphire Banking customer, you enjoy unlimited free trades on U.S.-listed stocks and ETFs. Basically, you can buy shares of nearly any investment that’s currently in your portfolio for free.
With free trades, you save $2.95 per trade. As most online brokers charge $4.95 per trade, this is a nice discount even without the free benefit.
This free benefit extends to two retirement accounts and two personal accounts.
Waived Chase Bank Fees
Owning a Chase Sapphire℠ Checking account also waives the fees on these products and services:
- Personal Chase Savings Accounts
- Up to 9 Chase Personal Accounts
- Free personal design checks
- No fees for counter checks, cashier’s checks, and money orders
- Overdraft fees are waived on the first four events every 12 months
Also, if you have to stop payment or wire money, these two services are free as well.
Special Relationship Rates
By linking your Chase Premier Savings account to your Chase Sapphire℠ Checking account, you can also earn a higher interest rate. The relationship bonus is a tiered bonus and increases as your Premier Savings account balance is higher. You can earn more when you save more in more ways than one.
To earn the bonus rate, you must initiate at least five transactions each statement period from your checking account.
Access to Special Experiences
You can also enjoy special access to Chase special experiences. These benefits for sports and entertainment events include:
- Entertainment Events
- Sports Events
You can also get special access to sports and entertainment hospitality lodges.
Examples of past exclusive Sapphire events include going to the Emmys or attending the Sundance Film Festival.
Maybe you already enjoy similar benefits with a current rewards credit card. If not, you can access them with Sapphire Banking.
Earning $1,000 Bonus
You may be able to earn a $1,000 bonus after completing the qualifying activities required. These include:
- Open or upgrade to a Chase Sapphire℠ Checking account: Upgrade your relationship or open a new account — Offer expires 03/06/2020
- Deposit money into your new account: Within 45 calendar days, transfer a total of $75,000 or more in qualifying new money or securities to a combination of eligible checking, savings, and/or investment accounts (excludes any J.P. Morgan retirement accounts and CDs). Maintain that balance for at least 90 days
- Enjoy your $1,000: Your bonus will be deposited into your Chase Sapphire Checking account within 10 business days
You Join Sapphire Banking, Now What?
As a Sapphire Banking member, you can also enjoy these Chase Bank perks:
- Physical branch access
- Chase QuickPay with Zelle
- Active account alerts
- Mobile check deposit
These benefits are available to all Chase checking and savings account holders.
Get a Sapphire Travel Rewards Credit Card
For you, the next step might be applying for a Chase Sapphire credit card, since you must be a Sapphire card member to be eligible for Sapphire banking. There are two Sapphire cards that can go with your Sapphire Banking account. Both of them are some of the most sought-after cards because of their valuable travel rewards perks.
The premium Chase Sapphire Reserve has a $300 annual travel credit and free Priority Pass airport lounge access. Plus, you earn 3 Ultimate Rewards points per $1 on all travel and dining purchases.
Or, you can go with the Chase Sapphire Preferred if you primarily want a travel credit card that makes it easy to earn and redeem points for travel. You earn 2 Ultimate Rewards points per $1 spent on travel and dining.
With either card, you can redeem your points for cash, gift cards, Amazon.com credit, or travel rewards. The most valuable redemption option is the travel rewards.
When you redeem your points for travel on the Chase travel portal, you get a redemption bonus. The base rate for all point redemptions is 1 cent per point. With this option, your points are worth 25% more (Sapphire Preferred) or 50% more (Sapphire Reserve) for any award travel.
Arguably, a more valuable benefit is the 1:1 point transfers to 13 airline and hotel partners. You can transfer points on a 1:1 basis to partners including Southwest Airlines, United Airlines, and World of Hyatt. With these travel partners, your points can be worth more than the 25% or 50% travel redemption bonus.
Before you book a flight or hotel night on Chase, see if you can get more mileage from your points by transferring them and booking directly from the carrier.
Summary on Chase Sapphire Checking Account
Chase Bank now offers a premium Chase Sapphire℠ Checking account with a $1,000 bonus (after completing the qualifying activities required). You can see this offer here on Chase.com: Chase Sapphire℠ Checking.
The Chase Sapphire℠ Checking account lets you bank for free with Chase. You can enjoy several benefits like free ATMs, commission-free investing, and other Chase Bank perks. If you can avoid the $25 monthly, you can benefit from Sapphire Banking.
Chase Sapphire Preferred® Card
- Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.
- Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
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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.