Cutting ties with Chase Checking account ....

[Anonymous]

Hello,

 Just want to ask this. I just got approved by DCU auto refi with the lowest APR of 1.75% but I have to have my payroll transferred to their checking account from my current Chase checking. I have been with Chase for about 10 years or more. I just paid off my Chase car loan from DCU.  Will discontinuing my current Chase checking account have adverse effect with newly approved CSP CC? I am leaning on not discontinuing my Chase checking to build up a stronger relationship with Chase since I just got approved for their Chase CSP with a SL of $7000. If I will not have my payroll transferred to DCU my APR will go up to 2.24%. What do you guys suggest? Thank you.

[Anonymous]

I had a chase checking account, 2005-2013. Closed it. Opened two credit union accounts. 2015: Got amex ED, and a chase freedom. Opened chase checking account again after the chase credit card, when I wasnt a chase checking customer.

Funny thing when i loaded up the online payment and stuff with the new checking account all my old accounts came up. You stay in the system for years. Its good. I say applying for CSP is fine as a loyal chase person or not. If you ever go back, wait for that 300 bucks on a new checking acct. 

[Anonymous]

Thank you. I was thinking too of having DCU as my primary checking account and transfer my payroll to them to get the 1.74% auto refi APR and NOT close the Chase checking and I'll just deposit some cash here and there. Will chase automatically close my checking account if no more payroll tranferred?

[OmarGB9]

Don't think so. As long as you keep some activity on there.

[odd_dog]

if your company payroll can split your deposits you can have money deposited into both accounts. I have chase and DCU checking and I believe there is no minimum deposit required to keep fees out (do not think either has fees for regular checking) So if your company can split your direct deposit payroll check, you can keep both without having to manually move money over to chase.....

[Anonymous]

Thank you All!  I will ask payroll if they can split. Havn't thought of that. Thank you.

[Anonymous]

By the way odd_dog, do you have auto refi with DCU? I remember before they told me that I have to have all my payroll transfrred to them ... I will have to verify.

[bada_bing]

Having your paycheck auto deposit split up could be the answer. I don't have

a Chase checking account but have been considering it. They keep sending me

those $300 offers. I think most companies allow scheduling designated amounts

out of each paycheck to different places, I believe it is almost universal.

If you move your whole paycheck deposit to DCU, one thing to check on if you

intend to keep your Chase account, is how does that effect the fees on

your Chase account. I know with my Wells Fargo checking, I get free everything,

but only if I have a monthly electronic depost of at least $500. If not, then they start

charging little fees for checks written, atm usage, etc.

If possible, maybe have your payroll send like $500 a month to Chase and the

balance to DCU?

[Anonymous]

^^^ Thank you. I did call our payroll and they certainly can do split deposit. Now, my question is if DCU wants all my paycheck transferred to them . My plan for now since I can do split deposit is transferring amount of my monthly car payment and CC so that it's easier for me to pay them monthly and the other balance to Chase since I do most of my banking/payment with them and it's close to my house where I can get cash out easily.

Wooow bada_bing!!! Your FICO score is way up on the Ceiling!!!!

[odd_dog]

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@Anonymous wrote:

By the way odd_dog, do you have auto refi with DCU? I remember before they told me that I have to have all my payroll transfrred to them ... I will have to verify.

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Yes I do, two "loans" with them on cars and I only deposit $300.00 every two weeks with no problem....verify that with them, AND DON'T TELL THEM ABOUT ME LOL in case they have some new rule!!   Good luck let us know what happened.