Sapphire Banking Gives Chase Customers Better Value

2037If you’re a fan of Chase Sapphire credit card, you’re in luck. Chase has just introduced a banking option that gives folks a better deal on everyday banking, as well as credit cards.

With Sapphire Banking, Chase is taking the lessons they learned from their incredibly popular Sapphire credit card and applying them to the banking space. Jennifer Piepszak, CEO of Chase Card Services, said they are hoping to capture what makes the Sapphire credit card special and put it into a traditional bank account service.

“What we learned with Sapphire cardholders was that they love the brand, but for very rational reasons. 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.”

No ATM fees, no foreign exchange fees, no wire transfer fees

One of the more remarkable features of Sapphire Banking is that they will not charge fees of any kind to their customers, given they meet certain eligibility requirements.

For customers who keep a minimum of $75,000 in qualifying deposits or investments in their Sapphire Banking accounts, there will be no ATM fees on any machine worldwide. Fees charges by non-Chase ATMs will be refunded. There are also no fees on foreign transactions, wire transfers, or stop payments. The Sapphire Banking debit card will also offer higher ATM limits.

Special events and more

Cardholders will also get access to Sapphire lounges at concerts, sporting events, and other special events, as well as the chance to buy advance tickets for premium seats at certain events.

Another perk is the ability to get financial advice from specialists in the banking, home lending, and small business spaces. And for Sapphire credit card holders who join in October, there’s another incentive: they can earn 60,000 Ultimate Rewards points when they open an account with $75,000 in qualifying deposits and investments. This offer will be available online and in Chase branches.

Thasanda Duckett, CEO of Chase Consumer Banking, said this new offering “shows the strength of Chase and how our products work together. We believe we can drive the same fierce loyalty we built for the Sapphire card to a Sapphire bank account.”

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