The Chase Private Client benefits are numerous. What are the Chase Private Client benefits? You can get an overview on other banks that offer more lucrative savings accounts with better APYs here and here.Īnd remember, you don’t have to keep your funds stored in a checking or savings account - you can also count investments and other forms of assets. But you would need to seriously be using some of those benefits. It’s possible that when you calculate all of the benefits, conveniences, and savings on fees, that Chase Private Client could end up offering you more value than simply parking your $250,000 with another bank. Of course you also have to factor in all of the Private Client perks below. Chase does not publish the interest rates for Private Client but I know that they are nowhere near 2.2% and that you would certainly be losing a lot of money on interest opportunities each year. Simply put, you can earn a lot more in interest with other types of savings accounts so some people don’t feel like it is worth keeping your cash with Chase.įor example, if you had an an APY of 2.2% your $250,000 at the end of one year would net $5,560.77 in interest. Many people will point out that there are account options with much higher APYs (annual percentage yields) than what Chase Private Client offers. Is it worth parking $250K worth of assets with Chase? In most cases, you’ll need to have a plan to increase your assets up to $250K with Chase very soon (within a year) so I wouldn’t try to “game” this requirement because in the best case scenario, you’d likely end up getting dropped from the program after you fail to meet the minimum requirements over time.Īlso, if your start-of-month balances fall below $150,000, you will likely get hit with a $35 monthly service fee. Sometimes you might even receive a personal invitation without ever having the requisite level of assets. The key seems to be to have a good relationship with a banker who perhaps sees some potential in you as a chase Private Client prospect. Many others have confirmed that it’s possible to get in the program with assets hovering around the $100,000 range. This $250,000 requirement is not necessarily a hard cut off. I had an off the record discussion with a Chase Private Client banker who informed me that it’s definitely possible to get in on Chase Private Client without meeting the $250,000 threshold.
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