Chase Private Client vs Sapphire Banking

What's the difference between Chase Private Client Checking℠ and Chase Sapphire℠ Banking? Find out which one you can qualify for.

Chase Bank offers two premium checking accounts to their high net-worth customers. If you're already banking with them, Chase Sapphire℠ Checking and Chase Private Client Checking℠ can be worth checking out.

Both give you several perks and benefits. But, you need to reach an average balance threshold before you can open one of them.

Read on to learn more about these checking accounts and how you can open one.

Chase Private Client Checking℠ - Up to $3,000 Bonus

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Expires 4/16/2025

• You're eligible for up to a $3,000 bonus when you open a new Chase Private Client Checking℠ account with qualifying activities.
• Speak with a Private Client Banker to open your Chase Private Client Checking℠ account today. Schedule your meeting at your nearest branch to get started.
• Priority service for everyday banking. Receive personalized attention from a dedicated Chase Private Client Banker and 24/7 access to a U.S. based banking service line.
• Earn $1,000 when you deposit $150,000 or earn $2,000 when you deposit $250,000 or earn $3,000 when you deposit $500,000.
• No fees at Chase and non-Chase ATMs worldwide.
• No Chase fee on incoming or outgoing wire transfers.
• Enjoy higher limits on Chase Private Client debit card purchases and ATM withdrawals, as well as higher Zelle^® and Chase QuickDeposit℠ limits.
• Relationship rates which may make you eligible for a 0.25% auto loan rate discount, and invitation-only events.
• Enhance your Chase relationship with access to a dedicated J.P. Morgan Private Client Advisor who can help create a personalized investment strategy.
• Deposit products provided by JPMorgan Chase Bank, N.A. Member FDIC. Deposit products are FDIC insured up to the maximum amount allowed by law.

J.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Morgan Securities LLC (JPMS), a registered broker-dealer and investment adviser, member FINRA and SIPC. Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states.

INVESTMENT AND INSURANCE PRODUCTS: • NOT A DEPOSIT • NOT FDIC INSURED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NO BANK GUARANTEE • MAY LOSE VALUE

Chase Private Client Checking℠ vs Chase Sapphire℠ Banking

Chase Private Client Checking℠ and Chase Sapphire℠ Banking are premium checking accounts offered by Chase Bank. Here's a look at how they differ:

• Chase Private Client Checking℠: To open, you need an average daily balance of at least $150,000 across qualifying Chase accounts. The $35 monthly fee is waived if you meet this balance or link a Chase Platinum Business Checking℠ account.

  It offers minimal fees, relationship rates, and exclusive perks such as personalized support from Chase experts, access to J.P. Morgan Wealth Management, and benefits for Chase Business customers. Find out more

• Chase Sapphire℠ Banking: To open, you need an average daily balance of at least $75,000 across qualifying Chase accounts. The $25 monthly fee is waived if you meet this balance.

  It also offers minimal fees on everyday banking and includes perks like relationship rates on Premier Savings and special offers with your Sapphire credit card. Find out more.

The main difference between these accounts is the level of personalized services they offer. Let's dive into the details.

What They Have in Common

Here are the main similarities between Chase Private Client Checking℠ and Chase Sapphire℠ Banking:

• No monthly service fees when you meet the daily average balance
  
• Higher deposit, withdrawal, and purchase limits
  
• Dedicated 24/7 banking support line
  
• No ATM fees worldwide
  
• Earn low interest rate

How They are Different

Though Chase Private Client Checking℠ and Chase Sapphire℠ Banking share some common features, they also have key differences:

• Lower daily average balance required with Chase Sapphire℠ Checking
  
• Dedicated Private Client Banker with Chase Private Client
  
• Dedicated Business Banking Advisor with Chase Private Client
  
• Discounted home and auto loan rates with Chase Private Client
  
• Exclusive sports and entertainment perks with Chase Private Client

Is Chase Private Client Better than Sapphire Banking?

Both Chase Private Client Checking℠: and Chase Sapphire℠: Banking offers attractive features and exclusive benefits. When deciding between them, consider the following points:

• Choose Chase Private Client Checking℠: if you can maintain a daily average balance of at least $150,000 across eligible Chase accounts.

  While this balance requirement is lower than many other premium checking accounts, it is still a significant amount to keep in a single bank.

  It is also perfect if you want to upgrade your banking experience with special perks like personalized services and business benefits.

• Choose Chase Sapphire℠ Checking: if you use Chase a lot but don't need exclusive perks. By maintaining a daily average balance of at least $75,000, you'll avoid monthly service fees and have fewer other charges.

  You can still enjoy benefits like special rates, credit card deals, and access to J.P. Morgan Wealth Management. If these appeal to you, Sapphire Banking could be a great choice.

Fees

Both Chase Private Client Checking℠ and Chase Sapphire℠ Banking have monthly service fees that can be avoided.

To waive the $35 monthly fee for Chase Private Client Checking℠, you need to keep a daily average balance of at least $150,000 in eligible deposits and investments or link a Chase Platinum Business Checking account.

For Chase Sapphire℠ Banking, you can avoid the $25 monthly fee by keeping a daily average balance of at least $75,000 in eligible deposits and investments.^[1]

The rest of the fees waived for Chase Private Client Checking℠ and Sapphire Checking are nearly identical.^[2] Here's a table summarizing them:

Banking Services

In general, Chase Private Client offers more premium services to its account holders in exchange for the higher balance requirement. Here are the priority services you receive:

• Collaboration with a dedicated Private Client Banker for your daily banking needs
  
• Home Lending Advisor for your loan and mortgage needs
  
• Dedicated Business Banking Advisor
  
• Dedicated 24/7 US banking service line (1-888-994-5626)

With Sapphire Checking, at most, you get access to the same 24/7 US banking support line.

Rates and Discounts

Many premier checking accounts offer relationship rates and special discounts. Here's what you get with Chase Private Client and Sapphire Checking:

Relationship Rates
Both checking accounts offer slightly higher interest rates on linked savings and CD accounts compared to Chase's standard rates, but these rates are still quite low compared to the best rates available on the market.^[3]

For Chase Private Client benefits, you'll need to connect either your Chase Private Client Savings or a Chase CD to get relationship rates. You also get access to CD Ladders, which involve opening four CDs simultaneously with equal amounts but varying terms.

Meanwhile, for Sapphire Checking, you can link a Chase Premier Savings or CD to enjoy the relationship rates.

Discounted Loan Rates
Unfortunately, Sapphire Banking currently does not provide reduced loan rates.

However, Chase Private Client offers a 0.25% discount on new car purchases. You also receive a mortgage rate discount based on your current balance and any additional funds you deposit.^[4][5]

Investment Benefits

Both Chase Private Client and Sapphire Checking give users access to the following investment benefits:

J.P. Morgan Wealth Management
Both accounts let you invest online. With J.P. Morgan Self-Directed Investing, you can manage and build your own portfolio.^[6]

J.P. Morgan's Private Client Advisors
But if you don't mind an annual advisory fee, you can go for advisory services. You can ask for a Private Client Advisor. You get a personalized financial plan and custom investment portfolio for your goals with the help of trusted advisors.^[7]

J.P. Morgan Wealth Plan
Both accounts also let you create a Wealth Plan for your specific goals. You get to collaborate with an advisor to develop and manage a custom financial strategy for your goals.

Other Perks and Benefits

Here are additional perks and benefits available with a Private Client or Sapphire Checking account:

Joint account privileges
Opening a joint premium checking account gives both owners the same perks and benefits. With Chase Private Client, you can provide authorized Privileges debit cards to family members or caregivers and set spending limits on these cards.

Business benefits
Chase Private Client gives you a dedicated business advisor for guidance. Additionally, linking your Chase Platinum Business Checking℠ waives the monthly fee of your Chase Private Client Checking℠.

The minimum balance requirement for Chase Platinum Business Checking℠ has been reduced to $50,000, and there are no Chase fees for incoming or outgoing wire transfers.

Additionally, linking your Chase Private Client Checking℠ account can waive the monthly fee for your Chase Business Complete Checking℠ account.

Credit card bonuses
With your Sapphire credit card, you can access deals through Chase Offers. Meanwhile, a Chase Private Client Checking℠ account does not provide any credit card bonuses.

Chase First Banking
If you have either a Private Client or Sapphire Checking, you can open a First Banking account for your kid. It's a fee-free debit card, and you can access the account to teach your child about finances.

Chase Private Client Checking℠ - Up to $3,000 Bonus

Claim Your Bonus

Expires 4/16/2025

• You're eligible for up to a $3,000 bonus when you open a new Chase Private Client Checking℠ account with qualifying activities.
• Speak with a Private Client Banker to open your Chase Private Client Checking℠ account today. Schedule your meeting at your nearest branch to get started.
• Priority service for everyday banking. Receive personalized attention from a dedicated Chase Private Client Banker and 24/7 access to a U.S. based banking service line.
• Earn $1,000 when you deposit $150,000 or earn $2,000 when you deposit $250,000 or earn $3,000 when you deposit $500,000.
• No fees at Chase and non-Chase ATMs worldwide.
• No Chase fee on incoming or outgoing wire transfers.
• Enjoy higher limits on Chase Private Client debit card purchases and ATM withdrawals, as well as higher Zelle^® and Chase QuickDeposit℠ limits.
• Relationship rates which may make you eligible for a 0.25% auto loan rate discount, and invitation-only events.
• Enhance your Chase relationship with access to a dedicated J.P. Morgan Private Client Advisor who can help create a personalized investment strategy.
• Deposit products provided by JPMorgan Chase Bank, N.A. Member FDIC. Deposit products are FDIC insured up to the maximum amount allowed by law.

J.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Morgan Securities LLC (JPMS), a registered broker-dealer and investment adviser, member FINRA and SIPC. Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states.

INVESTMENT AND INSURANCE PRODUCTS: • NOT A DEPOSIT • NOT FDIC INSURED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NO BANK GUARANTEE • MAY LOSE VALUE

Is A Chase Premium Checking Account Worth It?

If you've got a good amount of money deposited or invested with Chase, getting a premium checking account could be smart. You could enjoy top-notch services, exclusive perks, and discounts. But, you'll need to keep a hefty balance to maintain these benefits.

If your money isn't placed in investments with Chase, the low interest rates on their checking accounts might not be appealing. However, if you find the perks worthwhile, think about opening a premium account with Chase.

Bottom Line

Making the most of your relationship with Chase with either Chase Private Client Checking℠ or Chase Sapphire℠ Banking might be a good idea. But, keep in mind that you must consistently maintain the applicable daily average balance to keep it going.

Determine which account's daily average balance you can easily maintain. Also, consult a Chase representative to ensure everything is set up correctly.

References