You're probably right.

My statement is the same as Damon88's: Under the Questions? header, it says: For Full Service Accounts, Call Private Client Advisor. I don't own any Chase mutual funds or complex or leveraged ETFs (lots of Vanguard ETFs with some individual stocks for fun).

Chase is like Nike, Pepsi, Coke, you are paying a premium for the name. Some people see value and security in it and others see value in up and comers. personal choice

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.

Actually the correct term is not only Schwab charges no ATM fee, but also provide unlimited ATM rebate for whatever you have to pay for ATM usage.

Seriously? They have no such limitations

So far I have not seen any stock they won’t allow one to trade. (Except OTC)


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The real limitation of YouInvest is the lack of margin and the delay time in transfer of funds from sales to wait for settlement. They also are very limited on options strategies, only going to Level 2, and Merrill/BoA doesn't have this problem. On the other hand, Chase did offer a safe deposit box at a legacy Home Savings branch while Bank of America has no safe deposit boxes at any branch nearby. Chase also has great money transfer capabilities, including real time transfer, while BoA inexplicably still charges for outgoing ACHs, even for Platinum Honors customers. So I hold $75k in ETFs at Chase and put the rest in BoA, and do my everyday banking in neither.

There are multiple inaccuracies here.
I have a Chase You Invest account and there were no limits on either equity or options trades. I made trades in many of the widely discussed securities.
What trading products have you seen then limit?

Seriously?? No limit? Inaccuracies? I guess you either do not know, or just do not trade those products.

Chase (JPM) does not allow trading of any complex ETFs. No leveraged ETFs, no inverse ETFs. Forget about short trading most of those hot stocks. I called JPM Chase several time, they stated clearly that it is the firm's decision to limit certain trading products to limit the "risks" of those products. They won't add them. Period. Move on.

Check TQQQ, QLD, SQQQ and a lot more. Try shorting AMC, GME. Wish you the best luck with them....

JPM YouInvest has more limitations:

YouInvest does not offer the ability to trade during pre- and post-hours
No penny stocks
limited account types
only basic (single leg) options trades are offered
order types are limited (order types such as trailing stop orders and conditional orders are not available)

Some also say margin account is allowed. My regular account has no margin ability. This is another huge killer of this account offering. All trades take two business days to settle. Depending on you trade, you could be held hostage by this settlement rules for two days and you can't sell. Or you receive either "Good Faith" violation or "Free Ride" violation with your accounts. In this kind of market, this is a no-no.

Some other brokers even offer limited margin with IRA accounts. So you do not have to wait for the two days..... Chase is not even close to that.

Agree on the BoA outgoing ACH fee. However, there is a somewhat easy way around it. Set up a regular Brokerage account and it includes (is really) a Cash Management Account. Works as a full on checking account and does not charge for ACH either direction. Only downside I have found so far is that they only do online account set up for other large institutions. I have 2 credit unions and a small bank none of which will link via online. Have to fill out a form and fax or mail for them to set those up.

Negative Change To Chase Private Client Status Benefits
 

Not good. Only the joint accounts are part of the CPC.

Small Negative Change To Chase Private Client Status Benefits - Doctor Of CreditA reader who is a Chase Private Client reached out to let us know about a negative change which Chase is implementing on those with Private Client status:

Previously, if you were a joint accountholder with a private client, you’d get full private client privileges and fee waivers, even on your other accounts which are not adjoined to the private client. However, they are now sending out notice of a change whereby every individual needs to have $150,000 in their own balances to be considered Private Client and get fee waivers and the like.

I have CPC as does my wife and daughter

If the new policy is correct, then the secondary's own accounts do not enjoy the CPC benefits.

This has been the case with Chase Sapphire banking relationship. If I have the Sapphire relationship, my family members would have to link their accounts to become joint accounts to get the benefits. They are not considered Sapphire customers, not even spouse.

My wife and daughter have the benefits. My wife and I have all joint accounts and our Trust. My daughter and I also have a joint account. The definitely have the benefits