Why use Chase savings?
Why do people use chase for savings for example? The interest rates on savings are really bad and seems expensive compared to online banks etc. #finance #savings #financial
Using it to get the initial 300$ voucher and will discard the account later
most people care less other than as a place to store money but not how availably they can access, spend, and receive money. They either don't know or they don't want to change banks after they've started one banking relationship.
I had a lot of money in there for years due to poor financial literacy. Starting investing, HYSA and CDs only recently
I'm not sure how it works in the US but in the UK chase offers favourable rates with flexibility to take that money out of the savings account. That's at-least why I use it, the other option is to use fixed-term bond type savings. Maybe the US has better options which wouldn't surprise me since our banks etc. just take advantage.
Chase has brokerage accounts and if you are a private client, mutual funds are free to trade including vanguard and other MMFs that yield > 5% at the moment
Too small money to bother with
What’s a lot and what kind of perks to they offer? They reached out for private client a few years ago but it didn’t seem that interesting tbh