Chase Extends Impressive Banking Benefits to Military Personnel
Written on July 14, 2011 by Nicole Hopkins
If youre in the military, JP Morgan Chase just offered you a pretty big incentive for moving your money to their bank. Starting July 1, Chase offers active duty military personnel the same benefits previously limited to its high-balance customers. If you doubt that these benefits could be lucrative enough to justify changing banks, take a look at the list. Its pretty impressive, and if you own a small business, even more so.
As outlined in a press release, Chase Premier Plus with Military Banking Benefits include:
- No monthly fee or balance requirements
- No Chase ATM withdrawal fee for using non-Chase ATMs anywhere in the world
- No Chase fee on incoming/outgoing wire transfers
- No fee for money orders, official checks and travelers checks at any of Chase’s 5,300 branches
- Free Chase design checks
- Free safe deposit box
- Interest paid on the checking balances
- Chase Plus Savings with higher interest rates and no monthly service fee
- Two additional Chase Premier Plus Checking accounts with no monthly service fee
Small business owners in the military also receive special banking benefits:
- Chase Business Select Checking with their monthly service fee waived
- Up to $500 off qualifying loans
- Waiver of Annual Fee on qualifying Lines of Credit
- Discounts on qualifying Small Business Administration Loans, including the SBA Patriot Express loan
To qualify for Chase Premier Plus with Military Banking Benefits you need only have set up direct deposit of your military base pay into your Chase checking account. In fact, if you already bank with Chase, and have direct deposit set up, you were automatically enrolled into this program July 1.
Of course, the cynic in me is suspicious not of the benefits but of the motivation behind them. Extending special benefits to active duty service men and women is good PR. But how often do businesses do anything purely out of the goodness of their hearts? Bottom line, it sounds like a great deal, regardless of the underlying intent.
Chase Premier Plus with Military Banking Benefits is available at all 5,300 Chase bank branches. If you try it and like it, let us know. And if you try it and dont, let us know that too.
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