You Invest by JP Morgan Chase

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
Topic Author
Dead Man Walking
Posts: 844
Joined: Wed Nov 07, 2007 6:51 pm

You Invest by JP Morgan Chase

Post by Dead Man Walking » Sun Oct 28, 2018 10:23 pm

Although You Invest has been discussed here, I am interested in experiences those who have opened an account have had. What are the positives and the negatives? Any information about your experience with You Invest will be appreciated. Thanks in advance for your responses.

DMW

fiddleleaf
Posts: 12
Joined: Tue Oct 23, 2018 11:54 pm

Re: You Invest by JP Morgan Chase

Post by fiddleleaf » Mon Oct 29, 2018 9:13 am

I like it. I had Merrill for the Preferred Rewards and switched over, because unlimited $0 trades is better than 100. It's barebones right now but seems like more features are being added by the day. I've just been buying VG ETF's with it so the fact it's coupled with my Chase checking makes it all easier. At one point I did try trading a couple leveraged ETF's but they weren't available on the platform, but don't care now.

arf30
Posts: 530
Joined: Sat Dec 28, 2013 11:55 am

Re: You Invest by JP Morgan Chase

Post by arf30 » Mon Oct 29, 2018 9:20 am

I've got questions:

- What's the portfolio builder like, can you use it to buy ETFs and/or rebalance your portfolio easily?
- What does the settlement fund pay, and can it be changed to a money market fund that pays higher interest?
- Are VMFXX, VUSXX available? I've seen a Chase PDF saying they are, but others have reported being unable to buy them

Topic Author
Dead Man Walking
Posts: 844
Joined: Wed Nov 07, 2007 6:51 pm

Re: You Invest by JP Morgan Chase

Post by Dead Man Walking » Mon Oct 29, 2018 5:46 pm

I'm interested in buying ETFs, treasuries, and CDs in a taxable account. I called the 800 number to ask if treasuries could be purchased at auction and if CDs could be purchased from the primary issuer. I was told that both treasuries and CDs could only be purchased on the secondary market. I was also told that the sweep account was a money market account and that the interest rate on it varied depending on the type of account I had. The representative to whom I spoke didn't seem to be very knowledgeable; furthermore, he sounded as if he was at an offshore call center - a red flag for me. I plan to speak to a representative at my local Chase branch; however, I would feel more comfortable if I had input from more Bogleheads.

DMW

arf30
Posts: 530
Joined: Sat Dec 28, 2013 11:55 am

Re: You Invest by JP Morgan Chase

Post by arf30 » Mon Oct 29, 2018 5:54 pm

Dead Man Walking wrote:
Mon Oct 29, 2018 5:46 pm
I plan to speak to a representative at my local Chase branch; however, I would feel more comfortable if I had input from more Bogleheads.
You Invest is brand new and not many people have accounts yet - you might need to pioneer it and report back to us.

UpperNwGuy
Posts: 2234
Joined: Sun Oct 08, 2017 7:16 pm

Re: You Invest by JP Morgan Chase

Post by UpperNwGuy » Mon Oct 29, 2018 6:14 pm

Chase is notorious for offshoring customer service. I don't invest with Chase, but I have their credit cards.

cdu7
Posts: 282
Joined: Thu Feb 02, 2017 2:34 pm

Re: You Invest by JP Morgan Chase

Post by cdu7 » Mon Oct 29, 2018 7:07 pm

I did a major plunge into youinvest in order to get private client access. It’s been great so far, but the people on the phone don’t have accurate information unless you specifically call the youinvest line. That said the platform is easy enough to use and has a great selection of high quality etfs. It has a very poor selection of money market funds however and very low rates on the sweep. That said it has a lot of fixed income investments which are easy and free to buy (CD / treasuries / municipals). One downside on the fixed income is that it can only be traded using the web platform not the app. I believe they are working to add it to the app. Anyway it’s been a positive experience so far.

Topic Author
Dead Man Walking
Posts: 844
Joined: Wed Nov 07, 2007 6:51 pm

Re: You Invest by JP Morgan Chase

Post by Dead Man Walking » Mon Oct 29, 2018 7:12 pm

UpperNwGuy wrote:
Mon Oct 29, 2018 6:14 pm
Chase is notorious for offshoring customer service. I don't invest with Chase, but I have their credit cards.
Thanks for the heads up. I've never called Chase since they bought my original bank.

DMW

SonnyDMB
Posts: 43
Joined: Sun Nov 26, 2017 5:48 pm

Re: You Invest by JP Morgan Chase

Post by SonnyDMB » Mon Oct 29, 2018 7:56 pm

I’m planning on opening an account with a transfer of a couple ETFs (from tda). Anyone have confirmation that cost basis per lot carried over correctly ? When I called, they said it would within a couple weeks of the transfer occurring but I’d feel more comfortable if anyone could confirm either way.

cdu7
Posts: 282
Joined: Thu Feb 02, 2017 2:34 pm

Re: You Invest by JP Morgan Chase

Post by cdu7 » Mon Oct 29, 2018 8:09 pm

SonnyDMB wrote:
Mon Oct 29, 2018 7:56 pm
I’m planning on opening an account with a transfer of a couple ETFs (from tda). Anyone have confirmation that cost basis per lot carried over correctly ? When I called, they said it would within a couple weeks of the transfer occurring but I’d feel more comfortable if anyone could confirm either way.
It took about a week in my case

User avatar
indexfundfan
Posts: 2542
Joined: Tue Feb 20, 2007 11:21 am
Contact:

Re: You Invest by JP Morgan Chase

Post by indexfundfan » Mon Oct 29, 2018 8:26 pm

cdu7 wrote:
Mon Oct 29, 2018 7:07 pm
I did a major plunge into youinvest in order to get private client access. It’s been great so far, but the people on the phone don’t have accurate information unless you specifically call the youinvest line. That said the platform is easy enough to use and has a great selection of high quality etfs. It has a very poor selection of money market funds however and very low rates on the sweep. That said it has a lot of fixed income investments which are easy and free to buy (CD / treasuries / municipals). One downside on the fixed income is that it can only be traded using the web platform not the app. I believe they are working to add it to the app. Anyway it’s been a positive experience so far.
I know of an acquaintance who purchased Vanguard's Prime MMF and Treasury MMF on the platform. These cannot be the sweep MMF though and like Vanguard, must be purchased separately.
My signature has been deleted.

User avatar
SlowMovingInvestor
Posts: 1279
Joined: Sun Sep 11, 2016 11:27 am

Re: You Invest by JP Morgan Chase

Post by SlowMovingInvestor » Mon Oct 29, 2018 8:36 pm

UpperNwGuy wrote:
Mon Oct 29, 2018 6:14 pm
Chase is notorious for offshoring customer service. I don't invest with Chase, but I have their credit cards.
Really ? I have Chase cards and bank accounts, and I've always talked to US based staff when I call.

Citi is much worse -- even during the daytime in the US, they offshore calls.

UpperNwGuy
Posts: 2234
Joined: Sun Oct 08, 2017 7:16 pm

Re: You Invest by JP Morgan Chase

Post by UpperNwGuy » Mon Oct 29, 2018 9:10 pm

SlowMovingInvestor wrote:
Mon Oct 29, 2018 8:36 pm
UpperNwGuy wrote:
Mon Oct 29, 2018 6:14 pm
Chase is notorious for offshoring customer service. I don't invest with Chase, but I have their credit cards.
Really ? I have Chase cards and bank accounts, and I've always talked to US based staff when I call.

Citi is much worse -- even during the daytime in the US, they offshore calls.
Try using your Chase card to buy a European train ticket or a museum admission over the internet in advance of your trip. Chase will block your transaction, and when you call, they will transfer you to their "verification" staff in the Philippines. My credit unions, on the other hand, use Verify by Visa and don't block transactions or require you to talk to an offshore customer service rep.

Topic Author
Dead Man Walking
Posts: 844
Joined: Wed Nov 07, 2007 6:51 pm

Re: You Invest by JP Morgan Chase

Post by Dead Man Walking » Mon Oct 29, 2018 9:29 pm

arf30 wrote:
Mon Oct 29, 2018 5:54 pm
Dead Man Walking wrote:
Mon Oct 29, 2018 5:46 pm
I plan to speak to a representative at my local Chase branch; however, I would feel more comfortable if I had input from more Bogleheads.
You Invest is brand new and not many people have accounts yet - you might need to pioneer it and report back to us.
I plan to talk to a local Chase representative later this week. I'll post what I learn from the meeting. A couple of Bogleheads have had positive responses. Establishing an account may be the best way to evaluate this program.

DMW

02nz
Posts: 2123
Joined: Wed Feb 21, 2018 3:17 pm

Re: You Invest by JP Morgan Chase

Post by 02nz » Mon Oct 29, 2018 10:04 pm

SlowMovingInvestor wrote:
Mon Oct 29, 2018 8:36 pm
UpperNwGuy wrote:
Mon Oct 29, 2018 6:14 pm
Chase is notorious for offshoring customer service. I don't invest with Chase, but I have their credit cards.
Really ? I have Chase cards and bank accounts, and I've always talked to US based staff when I call.

Citi is much worse -- even during the daytime in the US, they offshore calls.
Also my experience - I've called Chase lots of times for banking and both personal and business credit cards, and I generally got the impression the reps were U.S.-based, and as a whole more competent than their competitors' phone reps.

02nz
Posts: 2123
Joined: Wed Feb 21, 2018 3:17 pm

Re: You Invest by JP Morgan Chase

Post by 02nz » Mon Oct 29, 2018 10:08 pm

Worth mentioning here (perhaps it's why OP posted this question) that Chase is running a promotion for 60,000 Ultimate Rewards points if you have a credit card in the Freedom or Sapphire families and open (or upgrade to) Sapphire Banking. You need to bring over at least $75K. It makes no sense to park $75K in a savings account as Chase pays almost zero interest, but You Invest balances (excluding retirement accounts) do count toward meeting the requirement.

cdu7
Posts: 282
Joined: Thu Feb 02, 2017 2:34 pm

Re: You Invest by JP Morgan Chase

Post by cdu7 » Tue Oct 30, 2018 9:53 am

indexfundfan wrote:
Mon Oct 29, 2018 8:26 pm
cdu7 wrote:
Mon Oct 29, 2018 7:07 pm
I did a major plunge into youinvest in order to get private client access. It’s been great so far, but the people on the phone don’t have accurate information unless you specifically call the youinvest line. That said the platform is easy enough to use and has a great selection of high quality etfs. It has a very poor selection of money market funds however and very low rates on the sweep. That said it has a lot of fixed income investments which are easy and free to buy (CD / treasuries / municipals). One downside on the fixed income is that it can only be traded using the web platform not the app. I believe they are working to add it to the app. Anyway it’s been a positive experience so far.
I know of an acquaintance who purchased Vanguard's Prime MMF and Treasury MMF on the platform. These cannot be the sweep MMF though and like Vanguard, must be purchased separately.
Not sure how they did it, since it doesn't show up as an option when I search for it on the platform.

toto
Posts: 6
Joined: Wed Oct 17, 2018 10:53 pm

Re: You Invest by JP Morgan Chase

Post by toto » Tue Oct 30, 2018 10:09 am

Here is the list of funds available on the platform: https://am.jpmorgan.com/blob-pbstudio/1 ... d_list.pdf.

Most, if not all, Vanguard money market funds are available (Vanguard Prime Money Market Inv, Vanguard Federal Money Market Inv, Vanguard Municipal Money Market Inv, Vanguard PA Municipal Money Market Inv, ...).
I did buy VMSXX (muni market) on You Invest.

am
Posts: 2978
Joined: Sun Sep 30, 2007 9:55 am

Re: You Invest by JP Morgan Chase

Post by am » Tue Oct 30, 2018 10:28 am

02nz wrote:
Mon Oct 29, 2018 10:08 pm
Worth mentioning here (perhaps it's why OP posted this question) that Chase is running a promotion for 60,000 Ultimate Rewards points if you have a credit card in the Freedom or Sapphire families and open (or upgrade to) Sapphire Banking. You need to bring over at least $75K. It makes no sense to park $75K in a savings account as Chase pays almost zero interest, but You Invest balances (excluding retirement accounts) do count toward meeting the requirement.
I think there is a 75 dollar liquidation fee. I was thinking of opening then closing but the fees dissuaded me. I don’t really need another account other than the 60k points which would net me 900 bucks since I have sapphire reserve and use the portal.

cdu7
Posts: 282
Joined: Thu Feb 02, 2017 2:34 pm

Re: You Invest by JP Morgan Chase

Post by cdu7 » Tue Oct 30, 2018 12:47 pm

toto wrote:
Tue Oct 30, 2018 10:09 am
Here is the list of funds available on the platform: https://am.jpmorgan.com/blob-pbstudio/1 ... d_list.pdf.

Most, if not all, Vanguard money market funds are available (Vanguard Prime Money Market Inv, Vanguard Federal Money Market Inv, Vanguard Municipal Money Market Inv, Vanguard PA Municipal Money Market Inv, ...).
I did buy VMSXX (muni market) on You Invest.
You just made my day!!!!

BlackcatCA
Posts: 93
Joined: Sat Jan 20, 2018 2:55 pm

Re: You Invest by JP Morgan Chase

Post by BlackcatCA » Tue Oct 30, 2018 3:39 pm

am wrote:
Tue Oct 30, 2018 10:28 am
02nz wrote:
Mon Oct 29, 2018 10:08 pm
Worth mentioning here (perhaps it's why OP posted this question) that Chase is running a promotion for 60,000 Ultimate Rewards points if you have a credit card in the Freedom or Sapphire families and open (or upgrade to) Sapphire Banking. You need to bring over at least $75K. It makes no sense to park $75K in a savings account as Chase pays almost zero interest, but You Invest balances (excluding retirement accounts) do count toward meeting the requirement.
I think there is a 75 dollar liquidation fee. I was thinking of opening then closing but the fees dissuaded me. I don’t really need another account other than the 60k points which would net me 900 bucks since I have sapphire reserve and use the portal.
I am looking at this too but didn’t know about the liquidation fee. Makes it less attractive then.

Does anyone know if transferring 75k of Treasury bill qualifies?

arf30
Posts: 530
Joined: Sat Dec 28, 2013 11:55 am

Re: You Invest by JP Morgan Chase

Post by arf30 » Tue Oct 30, 2018 3:42 pm

It's not a liquidation fee, there's a $75 fee to ACAT transfer assets out of the account. You can always sell and transfer cash out for free.

am
Posts: 2978
Joined: Sun Sep 30, 2007 9:55 am

Re: You Invest by JP Morgan Chase

Post by am » Tue Oct 30, 2018 3:48 pm

arf30 wrote:
Tue Oct 30, 2018 3:42 pm
It's not a liquidation fee, there's a $75 fee to ACAT transfer assets out of the account. You can always sell and transfer cash out for free.
Right but that has tax implications like capital gains, etc.

Do you know if they charge money to buy vanguard money markets since there would be no tax consequences to selling? Do they charge to close accounts?

I’m eyeing the 60k ultimate rewards points for chase sapphire checking once the ally 1k promotion ends.

arf30
Posts: 530
Joined: Sat Dec 28, 2013 11:55 am

Re: You Invest by JP Morgan Chase

Post by arf30 » Tue Oct 30, 2018 3:58 pm

am wrote:
Tue Oct 30, 2018 3:48 pm
Do you know if they charge money to buy vanguard money markets since there would be no tax consequences to selling? Do they charge to close accounts?
Same questions here, would like to grab the bonus but want to avoid the fees.

User avatar
SlowMovingInvestor
Posts: 1279
Joined: Sun Sep 11, 2016 11:27 am

Re: You Invest by JP Morgan Chase

Post by SlowMovingInvestor » Tue Oct 30, 2018 4:16 pm

toto wrote:
Tue Oct 30, 2018 10:09 am
Here is the list of funds available on the platform: https://am.jpmorgan.com/blob-pbstudio/1 ... d_list.pdf.

Most, if not all, Vanguard money market funds are available (Vanguard Prime Money Market Inv, Vanguard Federal Money Market Inv, Vanguard Municipal Money Market Inv, Vanguard PA Municipal Money Market Inv, ...).
I did buy VMSXX (muni market) on You Invest.
Wait -- these are all NTF ? That's actually a pretty good list, if so.

robertmcd
Posts: 457
Joined: Tue Aug 09, 2016 9:06 am

Re: You Invest by JP Morgan Chase

Post by robertmcd » Tue Oct 30, 2018 4:19 pm

I am in the process of doing this. There is a $75 transfer fee out if you don't want to liquidate to cash.

Vanguard prime money market has a $3000 minimum with no commission.

I actually want to use this for the foreseeable future though for the free atm's, free business checking, free wires, free safety deposit box and since I have all my credit cards and checking with chase. Also I churn the heck out of chase bonuses and want a long standing relationship with a lot of AUM to keep them from shutting me down.

If you want to transfer in and out VTI/VXUS/BND just to get the UR bonus, then the $75 fee doesn't matter since the bonus is worth $900.

User avatar
SlowMovingInvestor
Posts: 1279
Joined: Sun Sep 11, 2016 11:27 am

Re: You Invest by JP Morgan Chase

Post by SlowMovingInvestor » Tue Oct 30, 2018 4:30 pm

robertmcd wrote:
Tue Oct 30, 2018 4:19 pm
I am in the process of doing this. There is a $75 transfer fee out if you don't want to liquidate to cash.

Vanguard prime money market has a $3000 minimum with no commission.

I actually want to use this for the foreseeable future though for the free atm's, free business checking, free wires, free safety deposit box and since I have all my credit cards and checking with chase. Also I churn the heck out of chase bonuses and want a long standing relationship with a lot of AUM to keep them from shutting me down.
That's not bad at all -- just for keeping $75K of ETFs with them. Actually better than BoA Platinum Preferred in some ways (although Merill Edge has better brokerage facilities).

am
Posts: 2978
Joined: Sun Sep 30, 2007 9:55 am

Re: You Invest by JP Morgan Chase

Post by am » Tue Oct 30, 2018 4:31 pm

robertmcd wrote:
Tue Oct 30, 2018 4:19 pm
I am in the process of doing this. There is a $75 transfer fee out if you don't want to liquidate to cash.

Vanguard prime money market has a $3000 minimum with no commission.

I actually want to use this for the foreseeable future though for the free atm's, free business checking, free wires, free safety deposit box and since I have all my credit cards and checking with chase. Also I churn the heck out of chase bonuses and want a long standing relationship with a lot of AUM to keep them from shutting me down.

If you want to transfer in and out VTI/VXUS/BND just to get the UR bonus, then the $75 fee doesn't matter since the bonus is worth $900.
Thanks that’s helpful. So a strategy would be to buy 75k in Vang prime money market, then sell when you get the bonus and are ready to close account.

Given the perks however, it may be worth keeping money there. Unfrotunately they don’t offer admiral shares. Keeping etfs would mean getting stuck with a 75 dollar fee if you chose to transfer out.

jeffh19
Posts: 108
Joined: Thu Aug 07, 2014 7:23 pm

Re: You Invest by JP Morgan Chase

Post by jeffh19 » Tue Oct 30, 2018 10:23 pm

For those of you doing this for the 60k bonus

DO NOT CLOSE YOUR ACCOUNT IN 3 MONTHS

In the fine print, you only have to have the money there for 3 months, but if you close it in 6 months, they pull the bonus back. $75 fee for not having 75k in the accounts, so basically plan on this being a 6 month commitment.

I'm going to do it. I'm a big points nerd.

Topic Author
Dead Man Walking
Posts: 844
Joined: Wed Nov 07, 2007 6:51 pm

Re: You Invest by JP Morgan Chase

Post by Dead Man Walking » Wed Oct 31, 2018 1:25 am

Just for clarification, I have a Chase Premier account and wasn't aware of the Sapphire bonuses. My original account was with a local savings and loan. Over the last 40 years, the bank has been bought out by 4 different banks. I have stayed with all of them because I have a large safe deposit box. In my area large safe deposit boxes are difficult to find. My local Chase branch has been very easy to deal with; however, their interest rates are awful. My wife has a personal relationship with most of the personnel at the branch which is another reason that I am investigating the you invest program. The you invest program gives us the opportunity to maintain our premier account and have a greater total return. Furthermore, I do most of my banking and investing via the internet; on the other hand, my wife does all of her banking in person with local bankers. Should I kick the bucket, she would be more comfortable dealing with people she knows. I have had her establish a voice recognition protocol with Vanguard. This exercise in security was so humorous that the Vanguard representative was chuckling. Our motives for investing protocol vary due to our individual circumstances.

DMW

hotpancakes
Posts: 68
Joined: Sat Mar 03, 2018 8:25 pm

Re: You Invest by JP Morgan Chase

Post by hotpancakes » Wed Oct 31, 2018 1:39 am

jeffh19 wrote:
Tue Oct 30, 2018 10:23 pm
For those of you doing this for the 60k bonus

DO NOT CLOSE YOUR ACCOUNT IN 3 MONTHS

In the fine print, you only have to have the money there for 3 months, but if you close it in 6 months, they pull the bonus back. $75 fee for not having 75k in the accounts, so basically plan on this being a 6 month commitment.

I'm going to do it. I'm a big points nerd.
Thanks for the heads up! Was planning to close after 3 months.

am
Posts: 2978
Joined: Sun Sep 30, 2007 9:55 am

Re: You Invest by JP Morgan Chase

Post by am » Wed Oct 31, 2018 7:04 am

Dead Man Walking wrote:
Wed Oct 31, 2018 1:25 am
Just for clarification, I have a Chase Premier account and wasn't aware of the Sapphire bonuses. My original account was with a local savings and loan. Over the last 40 years, the bank has been bought out by 4 different banks. I have stayed with all of them because I have a large safe deposit box. In my area large safe deposit boxes are difficult to find. My local Chase branch has been very easy to deal with; however, their interest rates are awful. My wife has a personal relationship with most of the personnel at the branch which is another reason that I am investigating the you invest program. The you invest program gives us the opportunity to maintain our premier account and have a greater total return. Furthermore, I do most of my banking and investing via the internet; on the other hand, my wife does all of her banking in person with local bankers. Should I kick the bucket, she would be more comfortable dealing with people she knows. I have had her establish a voice recognition protocol with Vanguard. This exercise in security was so humorous that the Vanguard representative was chuckling. Our motives for investing protocol vary due to our individual circumstances.

DMW

Does sapphire banking offer a safety deposit box for free?

arf30
Posts: 530
Joined: Sat Dec 28, 2013 11:55 am

Re: You Invest by JP Morgan Chase

Post by arf30 » Wed Oct 31, 2018 7:10 am

am wrote:
Wed Oct 31, 2018 7:04 am
Does sapphire banking offer a safety deposit box for free?
"No annual rent on 3” x 5” Safe Deposit Box or smaller (subject to availability, 20% discount on larger sizes)"
https://www.chase.com/content/dam/chase ... ecking.pdf

User avatar
cookymonster
Posts: 227
Joined: Wed Nov 05, 2014 12:22 pm

Re: You Invest by JP Morgan Chase

Post by cookymonster » Wed Oct 31, 2018 9:41 am

Anyone have any luck getting Chase to reimburse transfer fees?

User avatar
cookymonster
Posts: 227
Joined: Wed Nov 05, 2014 12:22 pm

Re: You Invest by JP Morgan Chase

Post by cookymonster » Wed Oct 31, 2018 9:52 am

jeffh19 wrote:
Tue Oct 30, 2018 10:23 pm
For those of you doing this for the 60k bonus

DO NOT CLOSE YOUR ACCOUNT IN 3 MONTHS

In the fine print, you only have to have the money there for 3 months, but if you close it in 6 months, they pull the bonus back. $75 fee for not having 75k in the accounts, so basically plan on this being a 6 month commitment.

I'm going to do it. I'm a big points nerd.
Can you tell me where you read this?
I went over the fine print in this offer and saw nothing about a 6 month commitment:
https://accounts.chase.com/consumer/ban ... ome_3/hero

robertmcd
Posts: 457
Joined: Tue Aug 09, 2016 9:06 am

Re: You Invest by JP Morgan Chase

Post by robertmcd » Wed Oct 31, 2018 10:42 am

Also if you are doing this and have plans to keep it open, you get a free total business checking account with sapphire banking.

I will be opening a total business checking for the $200 bonus as well. Just google to find the link where you email yourself the code

So I currently am doing the $300 savings bonus for $25k , $200 business checking bonus, 60k UR sapphire checking upgrade bonus, and ally $1000 for $100k bonus

User avatar
SlowMovingInvestor
Posts: 1279
Joined: Sun Sep 11, 2016 11:27 am

Re: You Invest by JP Morgan Chase

Post by SlowMovingInvestor » Fri Nov 09, 2018 10:21 pm

robertmcd wrote:
Wed Oct 31, 2018 10:42 am
Also if you are doing this and have plans to keep it open, you get a free total business checking account with sapphire banking.

I will be opening a total business checking for the $200 bonus as well. Just google to find the link where you email yourself the code

So I currently am doing the $300 savings bonus for $25k , $200 business checking bonus, 60k UR sapphire checking upgrade bonus, and ally $1000 for $100k bonus
But you need an actual business for that, right (even if its DBA) ?

robertmcd
Posts: 457
Joined: Tue Aug 09, 2016 9:06 am

Re: You Invest by JP Morgan Chase

Post by robertmcd » Mon Nov 12, 2018 12:23 pm

SlowMovingInvestor wrote:
Fri Nov 09, 2018 10:21 pm
robertmcd wrote:
Wed Oct 31, 2018 10:42 am
Also if you are doing this and have plans to keep it open, you get a free total business checking account with sapphire banking.

I will be opening a total business checking for the $200 bonus as well. Just google to find the link where you email yourself the code

So I currently am doing the $300 savings bonus for $25k , $200 business checking bonus, 60k UR sapphire checking upgrade bonus, and ally $1000 for $100k bonus
But you need an actual business for that, right (even if its DBA) ?
Yeah sorta, I know a ton of churners just say they sell stuff on craiglist, etc. and just put $1000 for expected revenue in order to get the chase business cards.

FYI there is also a chase business savings bonus (in branch only) so one can actually do the following:

sapphire checking 60k
business checking $300 (I messed up earlier saying it was $200)
business savings $200
personal savings $300

I haven't done the business savings yet because it is in branch only, wish it was available when I went in a few weeks ago.

doctor of credit is my favorite website to find the info on these deals and get data points from others doing the bonuses

Brogleski
Posts: 42
Joined: Fri Jul 12, 2013 4:23 pm

Re: You Invest by JP Morgan Chase

Post by Brogleski » Mon Nov 12, 2018 12:54 pm

The enemy of a good plan is the dream of a perfect plan.

jmorgans
Posts: 59
Joined: Mon Nov 03, 2008 9:53 am

Re: You Invest by JP Morgan Chase

Post by jmorgans » Mon Nov 12, 2018 2:20 pm

Can anyone confirm that $5000 in a Youinvest IRA counts as an investment balance for the purpose of getting their checking account monthly minimum and fee waived?

robertmcd
Posts: 457
Joined: Tue Aug 09, 2016 9:06 am

Re: You Invest by JP Morgan Chase

Post by robertmcd » Mon Nov 12, 2018 3:16 pm

jmorgans wrote:
Mon Nov 12, 2018 2:20 pm
Can anyone confirm that $5000 in a Youinvest IRA counts as an investment balance for the purpose of getting their checking account monthly minimum and fee waived?
I don't believe retirement accounts count towards the minimum.

jmorgans
Posts: 59
Joined: Mon Nov 03, 2008 9:53 am

Re: You Invest by JP Morgan Chase

Post by jmorgans » Mon Nov 12, 2018 3:49 pm

robertmcd wrote:
Mon Nov 12, 2018 3:16 pm
jmorgans wrote:
Mon Nov 12, 2018 2:20 pm
Can anyone confirm that $5000 in a Youinvest IRA counts as an investment balance for the purpose of getting their checking account monthly minimum and fee waived?
I don't believe retirement accounts count towards the minimum.
They don’t for the purpose of obtaining a Sapphire bonus. However I cannot find any info as to whether they count in general to get checking account fees waived. Can anyone comment from experience?

am
Posts: 2978
Joined: Sun Sep 30, 2007 9:55 am

Re: You Invest by JP Morgan Chase

Post by am » Mon Nov 12, 2018 10:15 pm

jmorgans wrote:
Mon Nov 12, 2018 3:49 pm
robertmcd wrote:
Mon Nov 12, 2018 3:16 pm
jmorgans wrote:
Mon Nov 12, 2018 2:20 pm
Can anyone confirm that $5000 in a Youinvest IRA counts as an investment balance for the purpose of getting their checking account monthly minimum and fee waived?
I don't believe retirement accounts count towards the minimum.
They don’t for the purpose of obtaining a Sapphire bonus. However I cannot find any info as to whether they count in general to get checking account fees waived. Can anyone comment from experience?
Brokerage balance counts towards sapphire bonus. It’s a real nice account also.

User avatar
cookymonster
Posts: 227
Joined: Wed Nov 05, 2014 12:22 pm

Re: You Invest by JP Morgan Chase

Post by cookymonster » Tue Nov 13, 2018 11:55 am

Extremely frustrating experience so far:

- No support for partial transfers online

- For partial transfers, must do in paper, obtain notarization, and send in US Mail. No option for fax/email

- No reimbursement for account transfer fees

I completed all these steps, mailing off the transfer form on 11/1. It was either lost in the mail or lost by Chase. Now debating whether I want to bother trying again, just attempt a full transfer online (and incur a closing fee with ETrade), or just close the Sapphire/YouInvest accounts and pursue a bonus elsewhere. I'm sure at this rate by the time the assets post to the account I'll get hit with the first $25 monthly fee.

User avatar
SlowMovingInvestor
Posts: 1279
Joined: Sun Sep 11, 2016 11:27 am

Re: You Invest by JP Morgan Chase

Post by SlowMovingInvestor » Tue Nov 13, 2018 12:07 pm

cookymonster wrote:
Tue Nov 13, 2018 11:55 am
Extremely frustrating experience so far:

- No support for partial transfers online

- For partial transfers, must do in paper, obtain notarization, and send in US Mail. No option for fax/email

- No reimbursement for account transfer fees

I completed all these steps, mailing off the transfer form on 11/1. It was either lost in the mail or lost by Chase. Now debating whether I want to bother trying again, just attempt a full transfer online (and incur a closing fee with ETrade), or just close the Sapphire/YouInvest accounts and pursue a bonus elsewhere. I'm sure at this rate by the time the assets post to the account I'll get hit with the first $25 monthly fee.
What do you mean partial transfers online ? Say you have 1000 shares of VXUS and 1000 Shares of VTI, does this mean you can only transfer all the account, or you can transfer (in full) 1000 shares of VXUS, but NOT 500 shares of VXUS ?

Can you do the notarization etc. at a Chase bank branch ?

User avatar
cookymonster
Posts: 227
Joined: Wed Nov 05, 2014 12:22 pm

Re: You Invest by JP Morgan Chase

Post by cookymonster » Tue Nov 13, 2018 12:12 pm

SlowMovingInvestor wrote:
Tue Nov 13, 2018 12:07 pm
cookymonster wrote:
Tue Nov 13, 2018 11:55 am
Extremely frustrating experience so far:

- No support for partial transfers online

- For partial transfers, must do in paper, obtain notarization, and send in US Mail. No option for fax/email

- No reimbursement for account transfer fees

I completed all these steps, mailing off the transfer form on 11/1. It was either lost in the mail or lost by Chase. Now debating whether I want to bother trying again, just attempt a full transfer online (and incur a closing fee with ETrade), or just close the Sapphire/YouInvest accounts and pursue a bonus elsewhere. I'm sure at this rate by the time the assets post to the account I'll get hit with the first $25 monthly fee.
What do you mean partial transfers online ? Say you have 1000 shares of VXUS and 1000 Shares of VTI, does this mean you can only transfer all the account, or you can transfer (in full) 1000 shares of VXUS, but NOT 500 shares of VXUS ?

Can you do the notarization etc. at a Chase bank branch ?
Most brokers will let you specify which securities you want to transfer between accounts, and how many of each, all in an online interface. With Chase, if you want to transfer online, you have to transfer the entire account. Otherwise, you can specify the securities and quantity of each, just like you would with most of the major brokers, but it all has to be done on paper.

Yes, you can use your Chase branch. This is what I did, but I mailed the form myself. The CSR suggested I have the Chase branch mail it. Don't see how that will make a difference, since last time I just used the address on their form, but hopefully I can at least make them pay the postage this time.

am
Posts: 2978
Joined: Sun Sep 30, 2007 9:55 am

Re: You Invest by JP Morgan Chase

Post by am » Wed Nov 14, 2018 7:55 pm

cookymonster wrote:
Tue Nov 13, 2018 12:12 pm
SlowMovingInvestor wrote:
Tue Nov 13, 2018 12:07 pm
cookymonster wrote:
Tue Nov 13, 2018 11:55 am
Extremely frustrating experience so far:

- No support for partial transfers online

- For partial transfers, must do in paper, obtain notarization, and send in US Mail. No option for fax/email

- No reimbursement for account transfer fees

I completed all these steps, mailing off the transfer form on 11/1. It was either lost in the mail or lost by Chase. Now debating whether I want to bother trying again, just attempt a full transfer online (and incur a closing fee with ETrade), or just close the Sapphire/YouInvest accounts and pursue a bonus elsewhere. I'm sure at this rate by the time the assets post to the account I'll get hit with the first $25 monthly fee.
What do you mean partial transfers online ? Say you have 1000 shares of VXUS and 1000 Shares of VTI, does this mean you can only transfer all the account, or you can transfer (in full) 1000 shares of VXUS, but NOT 500 shares of VXUS ?

Can you do the notarization etc. at a Chase bank branch ?
Most brokers will let you specify which securities you want to transfer between accounts, and how many of each, all in an online interface. With Chase, if you want to transfer online, you have to transfer the entire account. Otherwise, you can specify the securities and quantity of each, just like you would with most of the major brokers, but it all has to be done on paper.

Yes, you can use your Chase branch. This is what I did, but I mailed the form myself. The CSR suggested I have the Chase branch mail it. Don't see how that will make a difference, since last time I just used the address on their form, but hopefully I can at least make them pay the postage this time.
I had no problem doing a partial transfer through the branch. It took less than a week. But the cost basis data is not available yet but it’s only been one day? Do they post it later?

User avatar
SlowMovingInvestor
Posts: 1279
Joined: Sun Sep 11, 2016 11:27 am

Re: You Invest by JP Morgan Chase

Post by SlowMovingInvestor » Wed Nov 14, 2018 9:32 pm

am wrote:
Wed Nov 14, 2018 7:55 pm

I had no problem doing a partial transfer through the branch. It took less than a week. But the cost basis data is not available yet but it’s only been one day? Do they post it later?
With ACATS transfers, yes -- the cost basis data arrives in 2-3 days. But double check !

fedfire
Posts: 5
Joined: Wed Nov 14, 2018 9:43 pm

Re: You Invest by JP Morgan Chase

Post by fedfire » Wed Nov 14, 2018 9:50 pm

jmorgans wrote:
Mon Nov 12, 2018 2:20 pm
Can anyone confirm that $5000 in a Youinvest IRA counts as an investment balance for the purpose of getting their checking account monthly minimum and fee waived?
I moved my IRA over to Chase You Invest so that I could get the premier checking without having to hit certain requirements every month. I got conflicting answers when calling the You Invest support line so I went into my local branch and they were easily able to link it to my checking accounts. Haven't gotten any service charges since for my two checking accounts.

For those asking about the platform, I've been using it for about 2 months and it's pretty simple to use. I was originally using the Fidelity index funds (FSTMX/FTIGX) since they were low expense ratios but the recent share class merger messed that all up. I ended up not being able to purchase any new shares once they converted over to the new funds. Ended up dumping them and buying Vanguard ETFs and so far so good.
Last edited by fedfire on Wed Nov 14, 2018 10:03 pm, edited 1 time in total.

User avatar
cookymonster
Posts: 227
Joined: Wed Nov 05, 2014 12:22 pm

Re: You Invest by JP Morgan Chase

Post by cookymonster » Wed Nov 14, 2018 9:51 pm

am wrote:
Wed Nov 14, 2018 7:55 pm
cookymonster wrote:
Tue Nov 13, 2018 12:12 pm
SlowMovingInvestor wrote:
Tue Nov 13, 2018 12:07 pm
cookymonster wrote:
Tue Nov 13, 2018 11:55 am
Extremely frustrating experience so far:

- No support for partial transfers online

- For partial transfers, must do in paper, obtain notarization, and send in US Mail. No option for fax/email

- No reimbursement for account transfer fees

I completed all these steps, mailing off the transfer form on 11/1. It was either lost in the mail or lost by Chase. Now debating whether I want to bother trying again, just attempt a full transfer online (and incur a closing fee with ETrade), or just close the Sapphire/YouInvest accounts and pursue a bonus elsewhere. I'm sure at this rate by the time the assets post to the account I'll get hit with the first $25 monthly fee.
What do you mean partial transfers online ? Say you have 1000 shares of VXUS and 1000 Shares of VTI, does this mean you can only transfer all the account, or you can transfer (in full) 1000 shares of VXUS, but NOT 500 shares of VXUS ?

Can you do the notarization etc. at a Chase bank branch ?
Most brokers will let you specify which securities you want to transfer between accounts, and how many of each, all in an online interface. With Chase, if you want to transfer online, you have to transfer the entire account. Otherwise, you can specify the securities and quantity of each, just like you would with most of the major brokers, but it all has to be done on paper.

Yes, you can use your Chase branch. This is what I did, but I mailed the form myself. The CSR suggested I have the Chase branch mail it. Don't see how that will make a difference, since last time I just used the address on their form, but hopefully I can at least make them pay the postage this time.
I had no problem doing a partial transfer through the branch. It took less than a week. But the cost basis data is not available yet but it’s only been one day? Do they post it later?
I went back to the branch, and the banker was nice enough to overnight the forms to Chicago. So I'll keep my fingers crossed that it will go through this time.

Post Reply