Chase Introduces Sapphire Banking
NEW YORK--(BUSINESS WIRE)--Sep 13, 2018--Chase today introduced Sapphire Banking, a new premium checking account designed to give customers more value on everyday banking.
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Sapphire Banking (Photo: Business Wire)
Chase is taking the same insights that drove tremendous brand loyalty to the Sapphire card products and is applying them to a banking relationship.
Sapphire Banking will offer customers who keep a minimum of $75,000 in qualifying deposits or investments the following:No fees on ATMs worldwide, including refunds on fees charged by non-Chase ATM owners No fees on everyday banking, including foreign exchange fees, outgoing wire transfers and stop payments Higher ATM limits with the Sapphire Banking debit card Access to Sapphire lounges at concerts, sports and special events, early ticket sales and premium seats Advice from Chase’s specialists in banking, home lending and small business
The company announced today a special offer for its Sapphire credit card holders coming in October. Sapphire cardholders will be able to earn 60,000 Ultimate Rewards points when they bring in $75,000 in qualifying deposits and investments and open or upgrade to a Sapphire Banking account. The offer will be available online and in branch, with the exact date to be announced shortly.
“This shows the strength of Chase and how our products work together,” said Thasunda Duckett, CEO of Chase Consumer Banking. “We believe we can drive the same fierce loyalty we built for the Sapphire card to a Sapphire bank account. This new account already comes with the assets of Chase – our mobile app and Chase.com, 16,000 ATMs, 5,100 branches, and over 50,000 of our branch employees. On top of that, Sapphire Banking customers get new benefits and experiences across Chase, and we’ve committed that we will add more so the product gets better over time.”
“What we learned with Sapphire cardholders was that they love the brand, but for very rational reasons,” said Jennifer Piepszak, CEO of Chase Card Services. “They did the math and knew the value that the card benefits and the sign-on points delivered. We want to create similar value for a bank account under the Sapphire brand.”
With a Sapphire Banking account, customers also get commission-free stock and ETF trades with $0 account minimums with You Invest by JPMorgan, a new digital investment platform.
“This account is a real example of how we’re rewarding our customers for their relationship,” said Jed Laskowitz, CEO of You Invest by J.P. Morgan. “On top of commission-free trades, we’ve made it easier for customers to manage their investments alongside their banking and credit cards on the Chase mobile app.”
Customers can join or upgrade their current Chase bank account to Sapphire Banking without a monthly service fee if they maintain an average balance of $75,000 in qualifying deposits or investments. A monthly service fee of $25 will apply for those not meeting this requirement.
To learn more or to open a Sapphire Banking account, please visit www.chase.com/sapphirebanking. Existing Chase customers can upgrade their checking account by visiting their local Chase branch.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180913005531/en/
Elizabeth Seymour, 415-538-5064
Ashley Dodd, 302-282-5011
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
Copyright Business Wire 2018.
PUB: 09/13/2018 09:00 AM/DISC: 09/13/2018 09:01 AM