Chase to offer mobile-focused checking account targeteting underbanked consumers

March 21, 2019

JP Morgan Chase has announced a low-cost mobile account, called Chase Secure Banking, that provides customers a checking account without overdraft or ATM fees, while giving customers access to ATMs, branch services and the use of a mobile banking app.

The account, which provides banking services to those who would otherwise be locked out of traditional banking, charges a $4.95 per month fee, does not offer paper checks.

Accountholders have free access to 16,000 Chase ATMs and 5,000 bank branches, as well as full use of the Chase mobile app for deposits, bill payment, funds transfers, checking account balances and credit monitoring.

Customers receive a debit card and can use the mobile app to make payments via electronic check.

"A bank account can open doors to economic opportunity and improve the financial lives of so many across the country," Thasunda Duckett, CEO of Chase Consumer Banking, said in the announcement. "As a bank, we want to help more consumers get access to an account that can better help them manage their everyday needs while building their financial health."

Chase Secure Banking replaces the Chase Liquid reloadable prepaid account and has the same fee as that account. Chase Liquid customers will be able to open a Chase Secure Banking account, while keeping their liquid accounts. However the bank will no longer offer new Liquid accounts.

Topics: Mobile Banking

Companies: JPMorgan Chase Bank N.A.

Sponsored Links:

Related Content

Latest Content