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Shocking Facts about JP Morgan Chase

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JP Morgan Chase Bank is one of the oldest banks and the biggest banks in the world; it is a consumer as well as a commercial bank that provide multinational banking and financial services to their customers.

The Bank was initially known as the Chase Manhattan up till the year 2000 when it merged with the JP Morgan Co-operation. The Chase Manhattan Bank was also formed by the merger between the two the Chase National Bank and the Manhattan Company in the year 1955.  There are much more facts about the JP Morgan Chase that you probably didn’t know; Chase bank near me has been so old that it gives best of best banking experience to their customers.

Operating in about 100 countries, the Chase bank has about 5,100 branches in the world, and they have about 16,100 ATMs, and the Chase has about 25 lakh plus employees as per as the year 2016.

The Chase Bank is one of the big four banks in the world and here are the crazy facts about this bank.

1)    The commercial customers of the bank are not willing to recommend this bank to others, and only about 35 percent of the clients are ready to recommend them. The community banks get at least about 46 percent of the recommendation score. Their Net Promoter score is up to 12 from the year 12, but the community banks can easily impress their clients.


2)    The return of equity was only about 18percent in the year 2014 whereas the other banks and the mortgage investment banks gave an impressive return of about 31 percent to their shareholders.


3)    The chase’s banking per customer is very impressive, and this gives about 7.8 points, and about 80 percent of the total commercial and consumer base of the Chase bank are individual customers as they bundled by the relationship package the Chase bank have tried to give them, this 80 percent is more than any community bank will ever have.


4)    The cost per deposit has dropped altogether, 0.65 from a teller, 0.8 from an ATM, and 0.03 through a mobile. The teller usage has dropped to about 42 percent, whereas the usage of ATM has increased from 37 percent to about 48 percent. And the mobile banking usage grew from about 1 percent to 10 percent.


5)    The digital customers of this bank are the loyal customers of the bank, and they have a better personal customer relationship with the chase bank than the now- digital banking customers.


6)    The chase bank will be selling about 300 total branches in the coming year as they want to solely function on about three fundamental principles which are assets per FTE, revenue per FTE and assets per branch.


7)    The Chase Bank is the number one lender in the United States as it has given credit to many small businesses and it gave about more than 12.6 billion dollars to the SBA.


8)  The headquarter of the Chase Bank is located at the Park Avenue which was earlier a chemical factory.


9)    Price water house Coopers are the single auditor of the JP Morgan Chase bank; they deal with their operations around the world.


10)    And JP Morgan Chase has declared about 1 million dollars in the United States military veteran’s higher education program.


What do I need to find a Chase bank near me?

1)    Good internet connection for fast access.

2)    A smartphone or Apple phone.

3)    Another device like laptop or Ipad to browse the websites online.

Follow the below-mentioned steps after you have fulfilled the requirement criteria.

  • Click on the below-mentioned link to get access to the chase locator near your vicinity.

  • The next step after you click on the link is to click on the option of Store Locator and then fill in the details like the location and the zip and address for you to spot the nearest Chase bank near me in your vicinity. If you see one can even see other options of the products on the web page of the official website of the chase bank and the link is mentioned below.
  • Now with this, you not only get the address but also get the contact details of that particular chase bank, so one can even make deposits and perform other banking functions.
  • If you are Apple user make the fastest access from the phone by just downloading the application, click on the below-mentioned link for proper details.
  • And in case you are an Android user then you can just simply download the app from the Google play store, click on the below-mentioned link for it.
  • Https://
  • One can even browse the websites to get a sorted list of the Chase bank near them; if you do not have a smartphone, you can just simply browse the website of the internet and here are the links mentioned below.
  • One can even download the official application of the chase bank on their phone and spot the closest bank around their location and get the details of other products as well, download the application searching from the Google Play Store.

Benefits of Chase Bank near me

1)    Chase bank locator helps us to get a list of different Chase bank near me and near our vicinity without even moving from a place.

2)    Now everything is just done is simple clicks which make this a very convenient way to get access to the banking services and the locations of the banks.

3)    Without spending extra cost and time cost, one gets a sorted list of the list of this Chase bank near them, their details and timing hours and even their contact details to perform the banking functions.

4)    These chase bank locator websites help you to track down the closest possible bank and even guides about the products they are dealing in and the variety they have.

The total number of products the Chase bank deals in is as follows.

  • Credit cards
  • Commercial banking
  • Savings account
  • Mortgage
  • Home equity
  • Investing
  • Business banking
  • Checking accounts
  • Reloadable card
  • Military banking
  • Digital banking
  • Merchant services

The aids and services they offer any chase bank user

1)    Readers service

2)    Information reformatting

3)    ATM’s

4)    Operator relayed service

5)    Tele Typewriter  service

6)    Written notes

7)    Sign language interpreters


The strategic agenda of the Chase Bank is unique and the seven key strategic plan in the key factors.

1)    Continue to work on the better experience and work on longer and deeper relationships.

2)    The chase bank is trying to reduce the expenses of their operations, and they are constantly trying to consolidate non- branch locations into the strategic hubs. To develop business with the primary partners and to make the streamline products very simple.

3)    Try to manage the risk of the Chase Bank customers.

4)    Increase the first payment innovation and increase the digital engagement as well.

5)    Try to maintain the robust control environment and automate the process.

6)    Amalgamate the vendors.

The chase bank is in constant efforts of reducing the mortgage and business products.

Reasons why the JP Morgan Chase is the doubtful nationalized bank.

Chase Bank is one of the best banks and has won many awards in different categories as well, it is the third bank which has undergone receivership, and they even got their loan from the African Banks to expand, and there are quite enough reasons to prove this.

  • Fourth quarter hits – when a company gives a fourth quarter report either have hidden the earnings of the first three-quarters or given an overstatement of it. When JP Morgan Chase bank did so in the year 2015, they gave away the fourth quarter report where the figures kept increasing considerably.
  • Revenue – The revenue is one of the most crucial things in a bank, now we do not know if the Chase bank has manipulated the earnings of their working as according to their policies for the company’s revenue recognition policy, there is no complete disclosure because of the minimal disclosure policy. The JP Morgan Chase has included only future cash inflows, and they forgot to add the future cash losses, this imbalanced anticipation was quite tricky.
  • The revenue growth in the industry, the growth of the JP Morgan Chase has been about 65 percent and which is much more than their competitors in the market, and this raises the question to the analysts.
  • Operating revenue – The operating revenue of the company as well as the net revenue of the company is somewhat lower than the other competitors, and this is shocking, this might be either a superior level of management actions or the accounting manipulations as the operations cost are less than the competitors working on similar lines.
  • Cash flow and net income – The Chase banks control manipulates either the cash flow or the net income. But to do so for the net income the income must be realized in cash, the chase banks net income has always been considerably higher than the cash flows of the previous year, and this increase in the cash flows is abnormal as this indicates irregularity.
  • Cash from operations dividend by net income – the ratio of the company has been considerably lower than 1. This is a sign that the company is facing problems in the accrual accountings. But suddenly in the year 2015, the JP Morgan Chase jumped from 0.4 to about 2.77 which are very fishy itself, and the analyst must notice this.
  • Miscellaneous income – according to the Chase bank their miscellaneous income is about 95 million, but this figure is entirely missing in the annual accounting reports. This is very manipulating as the miscellaneous income is supposed to occur every year and not just once.
  • Other expenses – in their reports, they have about 400million SH to the other costs column though they have failed to explain what the other expenses are and why such a huge amount falls under it. The analyst hasn’t asked any questions on this though the manipulation in the accounting is very noticeable.
  • Capitalization policy and deferred cost – The Chase bank are only capitalizing some costs while the others in the industry were including those in the expenses column. Chase bank though has provided only minimal disclosure on how they have followed this policy or have followed it previously. They have focused and tried to distract the attention towards the International standard requirement though they have failed to explain and enclose their takes on it.
  • Depreciation method – The Chase bank is unlikely not following the industry standards when it comes to depreciation. The depreciation affects the profitability of the company, and so it is very crucial for a company to draw their policies according to the industry and their peers.


How to give feedback regarding the Chase Bank?

In case the customers have any feedback regarding the banking service of the chase bank or have faced any problems or difficulties and have had any hassle during the procedure or while using their services. You can freely give away your comments, feedback, and opinions to the JP Morgan Chase bank by just logging into your mail id and send them a mail at the “accessibility”

As the privacy concern of this chase bank is at peak so one should not include any personal or private information of their details in the mail, the security of customer of this bank is the first concern of their services. And if your comment or the opinion or you have any doubt regarding your account then one can still mention their concern without their account details. Though you are allowed to give a contact information this will help them a lot as to which is then to the department to give you a call to explain the inquiry, make sure you submit the contact details of the bank which is sent by you to the bank earlier, the chase bank will contact you via call to solve your query.

Is Chase banking the best option for your money?

Well, many people might be having this doubt, but to enlighten you about this and give clarity about this concept. Here we are with few reviews of the customer saying that if Chase bank has been the best option for their money.

The best thing about the chase bank is that they offer almost everything to their customers. Loans and cards and other services and everything is included in their services. The main motto behind the chase bank is to give subdue to the clients of complete personalization and to develop a client relationship between the bank and the customers.

The following are the significant benefits of the JP Morgan Chase bank.

1)    Technology – the level of technology used by the chase banks is important. And a regular user can use the mobile application to deposit about 2000 dollars per day, and this is a very great option if you are not around an ATM or the chase bank.

Using their application one can easily detect the savings account balance and credit card balance and many other things. You can easily make the transfer of payment with bills and other things. And like many other professional applications, they even give alert messages to their customers, and they inform the customers if they are low or high on their balances.

2)    Good offers –  The Chase bank give away good offers to the customers for instance if the client opens up a saving account with the bank and deposit about 10 thousand dollars within about ten business days and keep it for about 90 days and get a bonus about 100 dollars extra on it.

If you are brand new customer of the chase bank, then one can open both the accounts and then you are eligible for about 250 dollar bonus.

The chase bank cards also offer many credit cards options too, and there are other reward card options too.

3)    Free options – The chase bank offers free options to their customers. The chase bank doesn’t charge any interest in the checking and savings accounts. Chase banks have higher level of, checking and this includes the chase premium plus checking and the chase premium platinum checking, both of these options earn interest.

Though the chase bank saving account require a minimum of 300 dollar balance and about 25 dollar repeat payment, and if you are an account owner under the age of 18 then account checking is free of cost.

Final words

The Chase bank near me is a good option for me to keep the money in that bank, though they have been a little suspicious on their operations they are one of the oldest and biggest banks in the United States.

Chase Bank is an outcome of two mergers previously, and they are catering in about 100 countries with the motto of expansion and having they are widespread to reach a good number of audience.

They offer almost all the types of services to their customers, and this is one of the prime reasons that a customer should choose them over the other service providers, they are like one shop stop in the banking industry.

In case you have a bank account here then you are eligible for many profits and benefits as well. Though many customers have their feedback or inquiry or comment to give on the banking service they are getting from the bank. You can just simply log in to their website and give your feedback without mentioning core details of your account, and you can instead provide your contact information so that their professional calls you to solve your query.

Spotting a Chase bank near me is now easy with the professional applications and website available on the iTunes and the Google play store.  Simply just click on the above-mentioned links to get the access and spot the nearest Chase bank.

One can even browse their websites to know the timing of the bank, but if you are looking for mobile banking, then there is no time limit on carrying the routine banking functions.

Chase Bank is one of the best banks for the individual customers as they have varied options for the customers to develop a relationship for the long term with them.

Thank you.

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