Originally Posted by
damon88
When we made the switch to Chase we simply transferred over one of our taxable Ameritrade accounts. For doing that we received a generous cash welcome bonus and all the benefits that come with a CPC account. The biggest one for us is the ability and ease to transfer to other banks with free wires (daily limit 250K). In addition the waived ATM fees worldwide and higher withdrawal limits are great when we are traveling.
Not sure what you mean by “paying a premium for a brand name.” Having our account at Chase doesn’t cost a dime more than Ameritrade and we actually get many benefits in return.
It has been a win-win for us.
The real benefits I got was able to work with a banker over the phone, via email and meeting in local branch. He worked hard to chase the new account bonus. Now I get a BofA/ML banker doing the same thing for me.
Charles Schwab has an ATM card that does not charge any ATM fees worldwide. No question asked.
Banking is like commodity now. The real benefit with Chase is its credit card portfolio. But since there is additional benefit linking CCs with Chase banking, CPC benefits have somehow diminished.
Chase's limitation on trading certain products is a big minus. I'm sure JPM won't allow anyone to trade AMC, GameStop etc. They will be happy if you buy the JMP mutual funds. That generates fees and won't crash its trading system like Robinhood did.