For me, my relationship hasn’t helped in anything at all. I started a relationship because of previous promotions and the relationship never attributed to anything benecial over not having a preexisting relationship. If you have poor or borderline credit and Chase sees assets in their bank, sure it could help you get offers, but if you applied without the offer being preappeoved in many cases you would still get the offer because you would list assets and income on the application itself and relationship offers are usually not better and in some cases are worse as some offers are for new Chase customers.
As far as Chase Finn is concerned, it allows Chase with its large ATM and branch network access to low cost deposits wihout paying interest to customers, just one time bonus. So it adds additional profit to the bank even if account balances are on the smaller side per account as in aggregate it means additional money to make profit from.
And you have yet to state what that relationship was: did you drop 250k into an account for CPC or did you open a credit card with a checking account barely meeting the minimums and running your financial life elsewhere?
I'm not going to debate Chase business strategy but I just don't think your analysis of Finn being a one time thing is accurate: you already stated it yourself, Total Checking is a better product when we're talking features, and that will be there for customers who want or need to upgrade to something a little more full featured.
There are many people probably mostly younger than I am that are making plenty and yet doing very little in the way of traditional banking: Chase is trying to market to those people too.
Glad this thread popped up as this might be what I'm looking for! No DD to my account and rarely have a steady balance over 1k so no way to avoid the Total Checking fees. *If* this account did open the door to credit product preapprovals (seems Chase customers sometimes can circumvent 5/24) that would be icing on the cake. $100 SUB... this is.. tempting. My local bank has never done me wrong but that said their footprint is small so it's easy to find myself paying ATM fees and their app and website.... are.. lackluster. Sometimes takes over 24 hours for balance to update! I can use the Zelle stand alone app but it's been troublesome lately so I've been browsing banks with Zelle built in to the app for convenience sake. Hmmmmmm.....
The promotional of 100 combined with 10 transactions and no direct deposit is really the biggest benefit. Any such relationship benefits could happen to some customers or getting past the 5/24 rule or whatnot. Relationship benefits on Finn may be easier access to credit card products for a few but surely won’t be anything such as unique benefits where one is finding larger bonuses or higher interest rates on deposit accounts. Chase is still a for profit national bank.
I'm thinking the SUB alone + Zelle is worth it in my case. Worst case scenario I don't like it and close it after 6 months $100 richer right?
Agreed. The debit feature would be useless other than for enough purchases to get the promotion if one pays by a promotional credit card or rewards credit card. The ATM accessibility for cash deposit and atm check deposits larger than mobile deposit limits is helpful if you are in an area where Chase has ATM’s. ATM withdrawls is useless considering other banks give unlimited ATM rebates. The promo really is the only reason for the account as of now. I don’t know if Chase will add any future incentives to get more deposits on hand or not. I couldn’t see using a Finn account for any large balances kept there.
Pretty much the plan. I get transfers via Zelle weekly so theres 8 of the 10 right there. A couple of purchases and I'm good to go for the SUB. Plenty of Chase ATMs near campus. I think this little account will work out nicely and if not at least I'll get $100 out of it. So glad this thread was revived. Perfect timing for me.