topic Re: Chase Secured Banking in Personal Finance

Chase Secured Banking

collics — Tue, 14 Jan 2020 17:22:41 GMT

Anyone have or offered this checking account?

Sorry if this is in the wrong section.

Re: Chase Secured Banking

Revelate — Wed, 15 Jan 2020 01:52:10 GMT

Hadn't heard of it, looks something akin to Chase Liquid v2.

Chase has reached out to the underbanked every so often, this looks like the latest iteration.

Re: Chase Secured Banking

CreditCuriosity — Wed, 15 Jan 2020 17:25:13 GMT

Believe that is what my old checking account for out of people turned into if I am not mistaken along with a savings account whatever the app checking account they use to have discontinued.. Has no fees so I just keep it around although believe normal one does have fees. Wish i could remember name of old product that was discontinued last year, but eluding me.

Re: Chase Secured Banking

Anonymous — Tue, 12 May 2020 00:28:39 GMT

I had it. no paper checks, monthly fee is around 5 dollars a month, can't be waived.

BEWERE chase loves to close acounts, thus locking your money, and they don't have to give you an explanation.

@collics wrote:
Anyone have or offered this checking account?

Sorry if this is in the wrong section.

Re: Chase Secured Banking

Remedios — Tue, 12 May 2020 00:45:50 GMT

@Anonymous wrote:
I had it. no paper checks, monthly fee is around 5 dollars a month, can't be waived.
BEWERE chase loves to close acounts, thus locking your money, and they don't have to give you an explanation.
@collics wrote:
Anyone have or offered this checking account?

Sorry if this is in the wrong section.

You forgot the part where there is always a reason for any lender to close DDA accounts. Always.

Re: Chase Secured Banking

EverForward — Tue, 12 May 2020 00:58:15 GMT

Seems to be a budget friendly, no frills(no OD, no checks) product, similar to BOA's Advantage SafeBalance Banking.

Re: Chase Secured Banking

VPExecutive — Fri, 15 May 2020 15:42:22 GMT

@Anonymous wrote:
also chase is a red flag to me since they love closing accounts.

They don't close accounts unless you do something suspcious, don't use it, or abuse it.

Otherwise, you're fine.

Re: Chase Secured Banking

Anonymous — Sat, 23 May 2020 06:25:12 GMT

Decided to open up a new checking account with Chase after they closed my older checking account(no reason was given. Chex reported nothing). Was denied for a normal checking account and was "offered" the Secure Banking account. Only reason I took it is because Chase seems to have a monopoly where I live and it's a quick 7-10 minute walk to the nearest branch. My current banking account only has a Cafe and ATM...

Re: Chase Secured Banking

SweetCreditObsession — Sun, 24 May 2020 21:13:33 GMT

My primary FI is a CU. I have a few other CUs as well. I've got a Chase Secured account, @collics because they got rid of the Chase Liquid prepaid card. I use it as a low cost account with a debit card, that I can use to Zelle funds to loved ones. I had no previous relationship with Chase and I like it and the app.

Re: Chase Secured Banking

Anonymous — Mon, 24 Aug 2020 14:39:07 GMT

I was offered this account today. Have been trying to get a card with chase for over a year. I will use this account to build a relationship with them. They definitely did a soft pull from Equifax, I did mine in Person and the rep showed me the screen stating that's what their decision was based on and showed what my options were. I checked my ChexSystems and I had 11 inquiries on there 😫 bummer.
But I'm happy to have my foot in the door