Military personnel get premier checking account benefits from chase

Chase has now launched its Military banking and in its latest initiative it provides military personnel multiple benefits. The benefits on premium checking accounts are normally offered only for customers who maintain a high balance. But these benefits are now being extended to the active duty service members from the Armed Forces as well as members of the Guard & Reserve.

The present military customers from Chase are automatically being upgraded to the Chase Premier Plus that has Military Banking Benefits and has been in effect since the July 1. When the military base makes a direct deposit into the accounts of military personnel, then these Chase customers qualify for all the benefits.

Todd Maclin, CEO of Retail Banking at Chase stated that the service personnel deserved the best that Chase had to offer. The cost that is incurred while doing their everyday banking is lowered for military personnel around the world, stated Maclin.

Some of the benefits that Chase Military Banking offers include:

  • No balance or monthly fee requirements
  • No Chase fee on outgoing or incoming wire transfers
  • Free Chase design checks
  • No Chase ATM withdrawal fee even on using non-Chase ATMs in any corner of the world
  • Free safe deposit box
  • Interest is paid on checking balance
  • Two additional accounts with Chase Premier Plus Checking that carries no monthly service fee.
  • No monthly service fee on Chase Plus Savings and it also carries higher interest rates

If these new Chase Military Banking customers set up a direct deposit of the pay from their military bases they can receive huge benefits. However, the deposit of allotments does not meet this requirement.

In addition to this, the active duty service members who are own small businesses can also take advantage of these special Business Banking offers which would also begin from July 1. These special military benefits also include:

  • Waiver of annual fees on all qualifying lines of credit
  • Up to $500 off on all qualifying loans
  • Chase Business Select Checking account where monthly service fee is waived
  • Discounts on Small Business Administration loans that qualify and that include SBA Patriot Express Loan.

Even the Military Mortgage program has been launched by Chase. It will help the military service members get significant financial advantages as well as customized offers on home loans, VA loan benefits, 1% Mortgage Cash Back, and a host of other benefits.

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