Chase Private Client Review

Discover the real value and premium perks of Chase Private Client. Explore the benefits in this in-depth review and if they're worth it.

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If you have $150,000 to deposit, Chase Private Client offers a premium banking experience. This is a much lower minimum than similar programs like JP Morgan Private Bank and Bank of America Private Bank, both of which require $10 million.

Read on to learn more about its benefits in detail. Also find out if they're worth the requirement.

Chase Private Client Promotions

Chase Private Client - $3,000 Bonus

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Expires 1/24/2024

• You're eligible for up to a $3,000 bonus when you open a new Chase Private Client Checking℠ account with qualifying activities.
• Speak with a Private Client Banker to open your Chase Private Client Checking account today. Schedule your meeting at your nearest branch or over the phone.
• Priority service for everyday banking. Receive personalized attention from a dedicated Chase Private Client Banker who is ready to help you.
• Earn $1,000 when you deposit $150,000 or earn $2,000 when you deposit $250,000 or earn $3,000 when you deposit $500,000.
• No ATM fees worldwide.
• No Chase fee on incoming or outgoing wire transfers.
• Enjoy higher limits on Chase Private Client debit card purchases and ATM withdrawals, as well as higher Zelle^® and Chase QuickDeposit℠ limits.
• Deposit products provided by JPMorgan Chase Bank, N.A. Member FDIC. Deposit products are FDIC insured up to the maximum amount allowed by law.

What Is Chase Private Client?

Chase Private Client (CPC) is an elite relationship status for high-balance Chase banking and investment customers. You get a more personalized banking experience tailored to your needs.

You get exclusive benefits, including:

• A private banker
  
• A private advisor to help with your investment strategy
  
• Banking fee waivers
  
• Discounted rates for home and auto loans
  
• Access to a portfolio line of credit at a competitive rate
  
• Guidance to help with your business needs

Chase Private Client goes beyond just banking. It's an experience crafted around your unique needs. You're forging a relationship with a bank that understands your goals. Build your partnership with Chase today.

Who Chase Private Client is Best For?

Chase Private Client is right for you, if you:

• Can maintain at least $150,000 combined in Chase checking, savings, and investment accounts.
  
• Need help navigating financial options and want a dedicated banker who truly grasps your needs.
  
• Want a financial advisor to help create a personalized investment strategy, plan for retirement, and more.

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How to Qualify?

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To qualify, you must maintain an average beginning day balance of $150,000 or more across any combination of qualifying personal checking, savings, and/or investment accounts with Chase.

There is a $35 monthly service fee. However, you can avoid this fee if you maintain an average beginning day balance of $150,000 or more in any combination of this account and linked qualifying deposits and investments, OR if you have a linked Chase Platinum Business Checking^SM account.

There have been some reports of people who were invited to join CPC with less than $150,000 and given time to meet the requirement. This largely depends on your history with Chase and relationship with your banker.

You can also join Chase Private Client if you have an immediate family member who is a CPC. Read more about it below.

Pros & Cons

Pros

• Large welcome bonus available
  
• Dedicated financial advisor for personalized guidance
  
• Personal relationship with your banker
  
• Banking fee waivers
  
• Discount rates on home and auto loans
  
• Benefits extend to adult immediate family members
  
• 24/7 priority support with dedicated phone line
  
• See Benefits

Cons

• Not all branches offer CPC services
  
• Low interest rates compared to online only banks
  
• Must have at least $150,000 with Chase (See Requirements)

Do the pros outweigh the cons? Find out if CPC is worth it.

Is Chase Private Client Worth It?

With a threshold of just $150,000, Chase Private Client makes luxury banking more accessible than many of its counterparts. You get the same perks, like having a dedicated personal banker and wealth advisor, without needing millions in the bank.

In the world of premium banking, the true value is not only about tangible benefits, but also the experience and peace of mind it offers.

If you value individualized advice, premium benefits, and having a go-to expert at your fingertips, Chase Private Client offers amazing value. It's not just a place to put your assets - they can also help maximize your wealth's potential.

If you're ready to elevate your banking, you can open an account now and enjoy an exclusive bonus on top of all the premium perks.

Chase Private Client - $3,000 Bonus

Get Offer

Expires 1/24/2024

Now let's review the Chase Private Client program in detail.

Dedicated Advisors

When you become a Chase Private Client, you'll get a team of advisors to help you find the best financial solutions for your goals. You get:

• Private Client Banker
  Your private banker will oversee your banking relationship, guide you through your benefits, and find the best solutions.

  Your banker will also connect you to other dedicated Private Client experts for loans and business banking needs.

  Not all Chase branches offer CPC services and have a Private Client Banker. Find a branch here.
  

• JP Morgan Private Client Advisor
  A dedicated advisor will work with you to understand your full financial picture and plan a custom investment strategy to meet your goals.

• Business Banking Advisor
  If you have a small business, you'll get a dedicated advisor and a team of specialists who can help find the best business solutions.

Banking Benefits

Fee Benefits:

• No ATM fees worldwide; Chase will even refund ATM fees charged by other owners.
  
• No Chase foreign exchange fee for debit card purchases.
  
• No fees on the first 4 overdrafts during the current and prior 12 statement periods.
  
• No fees for incoming or outgoing wires.
  
• No fees for cashier's checks, counter checks, and money orders.
  
• No stop payment fee.
  
• No fee for Overdraft Protection transfer.

Higher Limits Benefits:

• Daily ATM withdrawal limit up to $3,000.
  
• Daily purchase limit up to $7,500 with the CPC debit card.
  
• Chase QuickDeposit^SM limits of $100,000/day ($250,000 every 30 days).
  
• Chase QuickPay with Zelle® limits of $5,000/day ($40,000 every 30 days).

Other Benefits:

• Free rushed debit or credit card replacement to anywhere in the world.
  
• Free personal check designs.
  
• 24/7 Private Client Banking Services line in the U.S.

Investment Benefits

You get a dedicated JP Morgan Private Client Advisor. Your personal advisor will understand your financial needs and goals so they can help you create a personalized investment strategy.

Plus, you'll get:

• Regular meetings to update your strategy as your goals, risk tolerance, and time frame change.
  
• Retirement and education planning.
  
• Get real-time global insights, market conditions, and trends.
  
• Unlimited commission-free online stock, ETF, and options trades with J.P. Morgan Self-Directed Investing.

Note that Chase likes to push JP Morgan's managed portfolio service. They'll help you create a portfolio aligned to your goals and their professionals will manage it for you. This will have an annual management fee of 0.35%.^[1]

If CPC isn't for you, you can still get a custom strategy from JP Morgan advisors.

J.P. Morgan Personal Advisors

• Start the new year with a personalized financial plan and ongoing advice from J.P. Morgan.
• Work with a team of fiduciary advisors who will create a personalized financial plan, match you to expert built portfolios and provide ongoing advice via video or phone.
• Connect with a J.P. Morgan team member to schedule a free financial planning session. Call 833-930-4515 or fill out our contact form and we'll be in touch.
• Get matched to expert-built portfolios, and receive ongoing advice and annual check-ins to ensure your plan is on track.
• Our team of advisors act as fiduciaries so you can be confident that any advisor you work with has your best interest at heart.
• Manage all of your banking, investing and borrowing, and conveniently transfer money online and on the Chase Mobile^® app.
• Once we understand your financial picture, risk tolerance and time horizon, we'll recommend a professionally designed investment portfolio that meets your needs and automatically rebalances as the market shifts.
• Partner with an advisor to build a personalized financial plan based on what's important to you—whether that's paying off debt, opening a business or saving for a big purchase.

INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE

Click Here to Learn More

Family Member Privileges

Once you're a Chase Private Client, your benefits can extend to adult immediate family members when you are joint owners on a CPC deposit account.

Your family members must be enrolled in the Chase Private Client program in order to receive the perks. To do so, you can open a new joint CPC checking or savings account and your joint owner will be upgraded to CPC as well.

You can also get authorized debit cards (Privileges cards) for family members or caregivers. You'll have the ability to set spending limits for each card.

Loan Benefits

Home and Auto Loan Benefits:

• Dedicated Home Lending Advisor.
  
• Dedicated support, underwriting, and processing.
  
• 0.25% rate discount when you purchase a new car.^[2]
  
• Mortgage rate discount based on your existing balance and new money.^[3]

Portfolio Line of Credit Benefits:

• Access to a portfolio line of credit at a competitive rate.
  
• Get quick access to funds without liquidating your investments.
  
• No annual fees and no origination fee.
  
• Loan can be used for any purpose.

Credit Card Benefits

Getting around the Chase 5/24 rule used to be one of the biggest attractions of being a CPC. But that's no longer the case. This policy restricts you from being approved for a new card if you have opened 5 or more credit card accounts in the past 24 months.

However, there have been some old reports of Private Clients who were able to get a new Chase card despite being over 5/24. This will largely depend on your banker and you shouldn't count on it.

At Chase's Secure Site Chase Sapphire Reserve® Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Ultimate Rewards® $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year. Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $900 toward travel 1:1 point transfer to leading airline and hotel loyalty programs Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck® Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more Member FDIC Intro APR for Purchases Intro APR for Balance Transfer Regular APR Annual Fee N/A N/A 22.49% - 29.49% Variable $550

Business Benefits

If you have a business, Chase Private Client can help you find solutions to your business challenges. You get:

• Dedicated Business Banking Advisor.

• Guidance on improving cash flow, finding payment solutions, and providing financing options.

• No monthly service fee on a Chase Business Complete Checking account

• Reduced minimum balance of $50,000 to waive monthly fee for Chase Platinum Business Checking account.

• No Chase fee on incoming or outgoing wire transfers.

Member FDIC

Chase Business Complete Banking® - $300 Bonus

Click Here to Get Coupon

Expires 1/18/2024

Details

• Earn $300 when you open a new Chase Business Complete Checking^® account. For new Chase business checking customers with qualifying activities.
• Multiple ways to waive the Monthly Service Fee, including maintaining a minimum daily balance or purchases on your Chase Ink^® Business credit card.
• Full-service business banking. Convenient access to all your business banking services in one place -- lending, checking, credit card and payment solutions.
• Your choice of payment types. Choose from a full range of options for accepting payments and making deposits that include Zelle^®, Online Bill Pay, wire transfers and ACH payments.
• Convenient access to payment processing. Process all major debit and credit cards with QuickAccept^®. It's a built-in feature with your Business Complete Checking account.
• Helping you save money. Multiple ways to waive service fees and unlimited digital transactions helps you keep more of your money.
• Full-featured banking online and on-the-go. Manage your business' finances on your terms with the latest online and mobile banking technology.
• Trusted and secure financial partner. We're committed to helping you grow and protect your business.

Drawbacks

Before you jump in, there are some potential cons to consider:

• Low interest rate
  $150,000 is a lot of money to tie up. Online savings accounts offer higher APY, which can translate into thousands of dollars in growth with that amount.

  However, remember that your funds can be in a Chase investment account as well. So you can still have your money invested while enjoying the benefits of CPC.

• No credit card benefits
  Even being a CPC won't let you get around the Chase 5/24 rule. And you don't even need to be a CPC to apply for the Chase Sapphire Reserve or Chase Sapphire Preferred in the first place.
  Read more about how to qualify for the Sapphire Reserve and Sapphire Preferred.
  

• Investment options may not align to your needs
  You get commission-free online trades on J.P. Morgan Self-Directed Investing, but the platform has a slimmer range of products. Chase pushes the JP Morgan managed portfolio service, which has an annual management fee.

  Other similar managed portfolios have lower fees and smaller account minimums, such as Vanguard Personal Advisor and E*TRADE Core Portfolios. Both offer professional advisors to provide personalized on-going advice.

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• New to Relationship customers can choose their Relationship Tier.
• Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds.
• Maintain a minimum balance for 60 consecutive calendar days from the 21st day.
• If your balance falls to a lower Balance Level at any point during the maintenance period, the bonus changes.
• Bonus will be paid within 30 days after you successfully complete all required activities.
• Restrictions apply.

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Citigold® - Earn up to $2,000 Bonus

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• Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds.
• Maintain a minimum balance for 60 consecutive calendar days from the 21st day.
• If your balance falls to a lower Balance Level at any point during the maintenance period, the bonus changes.
• Bonus will be paid within 30 days after you successfully complete all required activities.
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Bottom Line

Chase Private Client is one of the most accessible private banking programs. You can enjoy the benefits of having a personal banker and wealth advisor without needing millions.

The value depends on what you expect from a bank. If you want to feel special with personalized service, CPC will certainly provide that. It's good for high-net-worth individuals who want an all-inclusive banking and investment experience.

It's also worth considering if you perform a lot of banking actions that currently cost you fees. The fee waivers can add up to a lot of savings. The home and auto loan rate discounts are also valuable. Plus, Chase sweetens the deal with an upgrade code for a cash bonus.

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