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JPMorgan to Impose Fees on Low-Balance (<150K) Chase Private Client Customers

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3 hours ago, Burgerwars said:

Since I only have Chase Peasant Checking, I have nothing to worry about.

I saw some people *Admin and our Terms of Service prohibit profanity*ing about this on another site and all I thought was "WTF? chase says it take 250k on deposit/invested to even qualify and now all these people who jumped at the CPC SUB but who couldn't afford to park the $$$ for more than 90 days are up in arms"

 

 

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5 hours ago, hegemony said:

I saw some people *Admin and our Terms of Service prohibit profanity*ing about this on another site and all I thought was "WTF? chase says it take 250k on deposit/invested to even qualify and now all these people who jumped at the CPC SUB but who couldn't afford to park the $$$ for more than 90 days are up in arms"

 

 

Chase has sent me mail many times asking me to upgrade to CPC with a sign-up bonus. Tying up such a large amount of money to maintain this "status" isn't worth it for me.

Chase Peasant Client provides all the services I need.

 

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On 10/9/2020 at 10:58 PM, Burgerwars said:

Tying up such a large amount of money to maintain this "status" isn't worth it for me.

Do the Chase balances have to be under Chase management, or is this just money you'd have "tied up" in other brokerage accounts?

 

Obviously "status" for its own sake is worthless, but it would be worth a look to see if there are more benefits than you're currently receiving from Fidelity, Merrill, (gasp) Robinhood, etc.

 

I might otherwise know the answer, but I've stopped returning calls/emails from "my" local CPC banker after she abandoned me mid-stream while Chase's centralized operations did a credit-union-caliber hatchet job on our HELOC.

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5 hours ago, cv91915 said:

Do the Chase balances have to be under Chase management, or is this just money you'd have "tied up" in other brokerage accounts?

 

Obviously "status" for its own sake is worthless, but it would be worth a look to see if there are more benefits than you're currently receiving from Fidelity, Merrill, (gasp) Robinhood, etc.

 

I might otherwise know the answer, but I've stopped returning calls/emails from "my" local CPC banker after she abandoned me mid-stream while Chase's centralized operations did a credit-union-caliber hatchet job on our HELOC.

it has to be in chase accounts including chase's "free" "you invest" brokerage. None of it has to be "managed"

 

so these people are *Admin and our Terms of Service prohibit profanity*ing about having to maintain 150k AVERAGE in savings/checking/youvest accounts when the chase minimum is supposed to be 250k in said accounts.

 

the only tangible benefit of CPC for me has been free wire transfers. The higher daily ATM withdrawal is something I've used once. Usually if I need that much subprime cash I need more than the limit so I use a window human anyway.

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1 hour ago, hegemony said:

it has to be in chase accounts including chase's "free" "you invest" brokerage. None of it has to be "managed"

 

so these people are *Admin and our Terms of Service prohibit profanity*ing about having to maintain 150k AVERAGE in savings/checking/youvest accounts when the chase minimum is supposed to be 250k in said accounts.

 

the only tangible benefit of CPC for me has been free wire transfers. The higher daily ATM withdrawal is something I've used once. Usually if I need that much subprime cash I need more than the limit so I use a window human anyway.

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One thing I can't find explicitly written on their website is whether a Chase You Invest Brokerage IRA ACCOUNT, counts toward the $250K Chase Private Client minimum.  That would sure make it easier for people who have large IRA or 401k balances elsewhere that they can transfer.  Anyway, still not interested, but you can ask me tomorrow, just in case I win the PowerBall, MegaMillions, or the California SuperLotto jackpot.  If I win all three this week, I'll become a CPC.  ;)

 

 

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