Chase has lauched a new suite of tools called ‘Saving It‘. There is really only two new features:
- Budget builder. Helps create a budget to track expenses and savings goals. This can be used by non Chase customers.
- Autosave feature. Ability to set up a recurring transfer from a Chase checking to Chase savings account.
They also talk about existing features such as Chase offers, investment products by J.P. Morgan and Chase Credit Journey. The budget tool is extremely basic and all input must be manual. Describing autosave as a new feature is frankly just embarrassing. If you really want to save more money, don’t use a Chase account. If we look at Chase’s rates the top savings rate is 0.09% APY, whereas the top high yield savings rate is currently 2.5% APY.
