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.
ROFL that headline
This article is the exact opposite of clickbaiting. I wish more blogs would be as transparent as DoC.
the (Useless) in the subject line made me click bait. It’s reverse clickbait and that’s why I love this blog.
haha, my thoughts exactly
It’s a scam. Another useless & unnecessary account/s. “What are you saving for, what are your saving goals, etc” just another way of milking fees from us.
This is the kind of hard hitting journalism that keeps me coming to this site day in and day out. >.<
I wonder if the autosave feature is something that they brought over from Finn…perhaps that will be a testbed for certain features that they can “flip a switch” and roll over to traditional accounts (just like how you can use Finn accounts in the Chase app/web site)?
Fun little aside, if you hide the Finn Savings account on the main Chase web site, Checking will work in the Chase app, but the Finn app will just break and not lot. Unwinding it fixes things.
nope, Finn’s is completely different. This is literally “set up to move $25 from checking to savings every month”
Oh, I couldn’t find much (Chase’s site redirected while on mobile), so thanks for the clarification—you’d think they would’ve leveraged more of the Finn presets, but instead it’s just the “Déjà Vu” one…
They should spend more time on how to not piss off their existing base instead of garbage like this
With banking apps that let you link outside accounts the primary benefit is they figure out who has high external net worth and then market to you. This is a really blatant attempt at that imo. Banks are dying for high NW individuals right now to sell asset fee structure to.
That’s exactly the theory, but offering a budgeting feature isn’t the feature that will attract high net worth individuals.
Welcome to 2009?
lol