You Invest by JP Morgan Chase
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You Invest by JP Morgan Chase
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
DMW
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Re: You Invest by JP Morgan Chase
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.
Re: You Invest by JP Morgan Chase
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
- 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
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Re: You Invest by JP Morgan Chase
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
DMW
Re: You Invest by JP Morgan Chase
You Invest is brand new and not many people have accounts yet - you might need to pioneer it and report back to us.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.
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Re: You Invest by JP Morgan Chase
Chase is notorious for offshoring customer service. I don't invest with Chase, but I have their credit cards.
Re: You Invest by JP Morgan Chase
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.
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Re: You Invest by JP Morgan Chase
Thanks for the heads up. I've never called Chase since they bought my original bank.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.
DMW
Re: You Invest by JP Morgan Chase
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.
Re: You Invest by JP Morgan Chase
It took about a week in my caseSonnyDMB 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.
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Re: You Invest by JP Morgan Chase
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.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.
My signature has been deleted.
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Re: You Invest by JP Morgan Chase
Really ? I have Chase cards and bank accounts, and I've always talked to US based staff when I call.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.
Citi is much worse -- even during the daytime in the US, they offshore calls.
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Re: You Invest by JP Morgan Chase
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.SlowMovingInvestor wrote: ↑Mon Oct 29, 2018 8:36 pmReally ? I have Chase cards and bank accounts, and I've always talked to US based staff when I call.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.
Citi is much worse -- even during the daytime in the US, they offshore calls.
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Re: You Invest by JP Morgan Chase
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.arf30 wrote: ↑Mon Oct 29, 2018 5:54 pmYou Invest is brand new and not many people have accounts yet - you might need to pioneer it and report back to us.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.
DMW
Re: You Invest by JP Morgan Chase
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.SlowMovingInvestor wrote: ↑Mon Oct 29, 2018 8:36 pmReally ? I have Chase cards and bank accounts, and I've always talked to US based staff when I call.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.
Citi is much worse -- even during the daytime in the US, they offshore calls.
Re: You Invest by JP Morgan Chase
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.
Re: You Invest by JP Morgan Chase
Not sure how they did it, since it doesn't show up as an option when I search for it on the platform.indexfundfan wrote: ↑Mon Oct 29, 2018 8:26 pmI 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.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.
Re: You Invest by JP Morgan Chase
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.
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.
Re: You Invest by JP Morgan Chase
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.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.
Re: You Invest by JP Morgan Chase
You just made my day!!!!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.
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Re: You Invest by JP Morgan Chase
I am looking at this too but didn’t know about the liquidation fee. Makes it less attractive then.am wrote: ↑Tue Oct 30, 2018 10:28 amI 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.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.
Does anyone know if transferring 75k of Treasury bill qualifies?
Re: You Invest by JP Morgan Chase
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.
Re: You Invest by JP Morgan Chase
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.
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Re: You Invest by JP Morgan Chase
Wait -- these are all NTF ? That's actually a pretty good list, if so.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.
Re: You Invest by JP Morgan Chase
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.
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.
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Re: You Invest by JP Morgan Chase
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).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.
Re: You Invest by JP Morgan Chase
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.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.
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.
Re: You Invest by JP Morgan Chase
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.
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.
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Re: You Invest by JP Morgan Chase
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
DMW
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Re: You Invest by JP Morgan Chase
Thanks for the heads up! Was planning to close after 3 months.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.
Re: You Invest by JP Morgan Chase
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?
Re: You Invest by JP Morgan Chase
"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
- cookymonster
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Re: You Invest by JP Morgan Chase
Anyone have any luck getting Chase to reimburse transfer fees?
- cookymonster
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Re: You Invest by JP Morgan Chase
Can you tell me where you read this?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.
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
Re: You Invest by JP Morgan Chase
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
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
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Re: You Invest by JP Morgan Chase
But you need an actual business for that, right (even if its DBA) ?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
Re: You Invest by JP Morgan Chase
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.SlowMovingInvestor wrote: ↑Fri Nov 09, 2018 9:21 pmBut you need an actual business for that, right (even if its DBA) ?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
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
Re: You Invest by JP Morgan Chase
Anyone know what their fraud protection policy is? Looking for something like these:
https://personal.vanguard.com/us/help/S ... ontent.jsp
https://www.schwab.com/public/schwab/nn ... antee.html
https://www.fidelity.com/security/custo ... -guarantee
https://personal.vanguard.com/us/help/S ... ontent.jsp
https://www.schwab.com/public/schwab/nn ... antee.html
https://www.fidelity.com/security/custo ... -guarantee
The enemy of a good plan is the dream of a perfect plan.
Re: You Invest by JP Morgan Chase
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?
Re: You Invest by JP Morgan Chase
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?
Re: You Invest by JP Morgan Chase
Brokerage balance counts towards sapphire bonus. It’s a real nice account also.jmorgans wrote: ↑Mon Nov 12, 2018 2:49 pmThey 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?
- cookymonster
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Re: You Invest by JP Morgan Chase
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.
- 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.
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Re: You Invest by JP Morgan Chase
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 ?cookymonster wrote: ↑Tue Nov 13, 2018 10:55 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.
Can you do the notarization etc. at a Chase bank branch ?
- cookymonster
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Re: You Invest by JP Morgan Chase
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.SlowMovingInvestor wrote: ↑Tue Nov 13, 2018 11:07 amWhat 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 ?cookymonster wrote: ↑Tue Nov 13, 2018 10:55 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.
Can you do the notarization etc. at a Chase bank branch ?
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.
Re: You Invest by JP Morgan Chase
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?cookymonster wrote: ↑Tue Nov 13, 2018 11:12 amMost 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.SlowMovingInvestor wrote: ↑Tue Nov 13, 2018 11:07 amWhat 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 ?cookymonster wrote: ↑Tue Nov 13, 2018 10:55 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.
Can you do the notarization etc. at a Chase bank branch ?
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.
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- Posts: 3487
- Joined: Sun Sep 11, 2016 11:27 am
Re: You Invest by JP Morgan Chase
With ACATS transfers, yes -- the cost basis data arrives in 2-3 days. But double check !
Re: You Invest by JP Morgan Chase
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 9:03 pm, edited 1 time in total.
- cookymonster
- Posts: 318
- Joined: Wed Nov 05, 2014 11:22 am
Re: You Invest by JP Morgan Chase
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.am wrote: ↑Wed Nov 14, 2018 6:55 pmI 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?cookymonster wrote: ↑Tue Nov 13, 2018 11:12 amMost 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.SlowMovingInvestor wrote: ↑Tue Nov 13, 2018 11:07 amWhat 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 ?cookymonster wrote: ↑Tue Nov 13, 2018 10:55 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.
Can you do the notarization etc. at a Chase bank branch ?
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.