Key Difference: The main difference between Chase Total Checking account and Chase Secure Banking account is the monthly service fee.
As a Chase Total Checking account holder, you will be charged a monthly service fee of $12 whereas it’s just $4.95 for Chase Secure Checking account holders.
However, if you have a Total checking account, you can avoid paying this monthly fee by maintaining a balance of $1,500 or more in your account.
Another way to get rid of this monthly service charge is to get at least $500 every month as an electronic deposit to your account.
In the case of the Chase Secure Checking account, this fee is mandatory and there is no way to avoid it.
What is Chase Total Checking?
The Chase Total Checking account is a great option for those who are looking for an easy-to-use account that offers access to a large number of ATMs and branches.
Additionally, the account comes with a number of beneficial features, such as online banking, bill pay, and mobile banking.
Plus, new customers can receive a sign-up bonus of $200 when they open an account and set up a direct deposit.
However, the account does have a monthly service fee of $12 that can be waived if you meet certain conditions.
As a Chase bank customer, you are FDIC insured for up to $250,000.
So, if something happens and your bank account is compromised, you can be rest assured that your money is still safe.
This is just one of the many benefits of banking with Chase.
The debit card that comes with the Chase Total Checking account also has chip technology, which can help to protect your information and make transactions more secure.
One of the account’s main drawbacks is that it does not offer an interest rate on deposited funds.
However, the Chase Total Checking account is still a great option for those who are looking for an affordable and easy-to-use checking account with no minimum deposit requirements.
What is Chase Secure Banking?
Chase Secure Banking account is the best choice for those looking for a simple checking account with no different types of fees.
The account allows customers to pay bills, cash checks, and send money without any additional charges except for the $4.95 monthly service fee.
On average, Chase Secure Banking customers save $50 per month on fees after opening their account.
One of the biggest advantages of this account is the lack of overdraft fees. This means that customers can only spend what they have in their account and will not be charged additional fees for going over their balance.
Additionally, Chase offers a number of other benefits such as free ATM service and no fees for money orders or cashier’s checks.
Another benefit of this account is the ability to use Chase Online Bill Pay. This allows customers to pay their bills online without any additional fees.
This can be a valuable service for those who prefer to pay their bills online.
Most importantly, this account doesn’t have any hidden fees, so customers can be sure that they are not being charged for any services that they do not use.
No minimum deposit is required to open this account, making it a good choice for those who are starting out with a new bank.
Overall, the Chase Secure Banking account is a great option for those looking for a simple checking account with important basic features.
However, there is one drawback – the account does not earn interest on deposited funds.
So, if customers are looking for an account that will help them grow their money, this may not be the best option.
Chase Total Checking vs Chase Secure Banking
Important differences between the two Chase accounts include –
| Chase Total Checking | Chase Secure Banking | |
|---|---|---|
| Monthly Service Fee | $12 or $0* | $4.95 |
| Overdraft Fees | $34 | $0 |
| ATM Fees | $0 | $0 |
| Non-Chase ATM Fees | $2.50 to $5 | $2.50 to $5 |
| Money Order Cost | $5/check | Free |
| Minimum Deposit | $0 | $0 |
| APY | 0% | 0% |
| Sign-Up Bonus | $200 | $100 |
| Incoming Wire Transfer Fees | $15 or $0* | Not Available |
| Outgoing Wire Transfer Fees | $25 or $35* | Not Available |
| International Wire Transfer Fees | $0 to $50* | Not Available |
| Zelle | Free | Free |
Monthly Service Fee *
The bank waives the $12 monthly service fee for its Total checking account holders if –
- You maintain $1,500 or more in the account every month
- You receive electronic direct deposits worth at least $500 per month
- Your monthly average balance is at least $5,000 (combination of all the deposits)
Incoming Wire Transfer Fees *
The bank doesn’t charge incoming wire transfer fees if the sender bank is also Chase.
Outgoing Wire Transfer Fees *
The bank charges $35 for every outgoing wire transfer to a third-party bank or else, it is $25 per transfer for Chase to Chase transactions.
International Wire Transfer Fees *
The bank doesn’t charge an international wire transfer fee if you send money to a person outside the United States in a foreign currency worth $5,000 or above.
Or else, the fee is $5 when you make use of chase.com or chase’s official mobile banking app.
When a Chase Total Checking customer transfers money to a person in some other country in U.S. dollars, then he/she will have to pay a wire transfer fee of $40.
The wire transfer fee is $50 for those who take the help of a banker to initiate the transfer either in U.S. dollars or any foreign currency.
Summary
From the differences above, it’s very clear that it’s best to open a Chase Secure Banking account that costs you $4.95 unless you require services such as check writing, wire transfers, and overdrafts. Or else, it’s better to go with the Total Checking account that costs you $12 per month and also additional charges that will be levied as per your usage.