Market Overview

Chase Introduces Sapphire Banking

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No ATM fees, commission-free trades and more perks & experiences

Sapphire cardholders soon eligible for 60,000 Ultimate Reward
Points

Chase today introduced Sapphire Banking, a new premium checking account
designed to give customers more value on everyday banking.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180913005531/en/

Sapphire Banking (Photo: Business Wire)

Sapphire Banking (Photo: Business Wire)

Chase is taking the same insights that drove tremendous brand loyalty to
the Sapphire card products and is applying them to a banking
relationship.

Sapphire Banking will offer customers who keep a minimum of $75,000 in
qualifying deposits or investments the following:

  • No fees on ATMs worldwide, including refunds on fees charged by
    non-Chase ATM owners
  • No fees on everyday banking, including foreign exchange fees, outgoing
    wire transfers and stop payments
  • Higher ATM limits with the Sapphire Banking debit card
  • Access to Sapphire lounges at concerts, sports and special events,
    early ticket sales and premium seats
  • Advice from Chase's specialists in banking, home lending and small
    business

The company announced today a special offer for its Sapphire credit card
holders coming in October. Sapphire cardholders will be able to earn
60,000 Ultimate Rewards points when they bring in $75,000 in qualifying
deposits and investments and open or upgrade to a Sapphire Banking
account. The offer will be available online and in branch, with the
exact date to be announced shortly.

"This shows the strength of Chase and how our products work together,"
said Thasunda Duckett, CEO of Chase Consumer Banking. "We believe we can
drive the same fierce loyalty we built for the Sapphire card to a
Sapphire bank account. This new account already comes with the assets of
Chase – our mobile app and Chase.com, 16,000 ATMs, 5,100 branches, and
over 50,000 of our branch employees. On top of that, Sapphire Banking
customers get new benefits and experiences across Chase, and we've
committed that we will add more so the product gets better over time."

"What we learned with Sapphire cardholders was that they love the brand,
but for very rational reasons," said Jennifer Piepszak, CEO of Chase
Card Services. "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."

With a Sapphire Banking account, customers also get commission-free
stock and ETF trades with $0 account minimums with You Invest by
JPMorgan, a new digital investment platform.

"This account is a real example of how we're rewarding our customers for
their relationship," said Jed Laskowitz, CEO of You Invest by J.P.
Morgan. "On top of commission-free trades, we've made it easier for
customers to manage their investments alongside their banking and credit
cards on the Chase mobile app."

Customers can join or upgrade their current Chase bank account to
Sapphire Banking without a monthly service fee if they maintain an
average balance of $75,000 in qualifying deposits or investments. A
monthly service fee of $25 will apply for those not meeting this
requirement.

To learn more or to open a Sapphire Banking account, please visit www.chase.com/sapphirebanking.
Existing Chase customers can upgrade their checking account by visiting
their local Chase branch.

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