JP Morgan Chase has announced a new current account for those employed by the US military services. The premium account is available to active duty Armed Forces personnel and members of the Guard and the Reserve.
In a recent statement, JP Morgan Chase said that existing accounts held by their military clients would automatically be upgraded to the ‘Chase Premier Plus’ account. The account offers a range of premium services which are traditionally extended to more affluent clients.
The Chase Military Banking account offers various benefits including no monthly fee or balance requirements to meet, no withdrawal fee for using non Chase ATMs anywhere in the world and no fee on incoming or outgoing wire transfers. Military customers can also take advantage of no fee money orders and travelers checks and a free safe deposit box.
The account also gives military personnel access to Chase Plus Savings accounts with higher interest rates and no service fees. Two additional checking accounts are also provided with no monthly fees. Chase Military Banking customers receive the benefits as soon as they set up a direct deposit of their military base pay.
The launch of the Chase Premier Plus with Military Banking Benefits account is part of JP Morgan Chase’s ongoing commitment to providing banking services which suits military personnel.
Our servicemen and servicewomen deserve the very best Chase has to offer,
said Todd Maclin, CEO of Retail Banking at Chase.
We are lowering the cost for military personnel to do their everyday banking wherever they are around the world.
Chase have also launched a Military Mortgage program which aims to provide service men and women with substantial financial advantages and customized home loans including 1% mortgage cash back, low fees exclusive to military members and VA Loan Benefits. In addition to this, Chase also offers exclusive business banking offers to active duty service members who also own a small business. These special benefits include business select checking with no monthly fee, up to $500 discount on qualifying business loans and a waiver of the annual fee on qualifying lines of credit.
Chase is also working to support military veterans. Earlier this year, Chase launched an initiative designed to support the unique needs of military members, veterans and their families. Working in partnership with government organizations, nonprofit organizations and educational institutions, Chase have pledged to provide 1,000 homes to veterans during the next 5 years and to secure employment for 100,000 veterans by 2020.