Official: Chase Bank Confirms This Major New Release, Millions of Americans Can Use It

Chase Bank has implemented an innovative tool called "Autosave." One that is helping millions of customers improve their saving habits in a simple and effective way. This feature automates transfers from the checking account to the savings account, facilitating the achievement of personal financial goals.

What Is Autosave by Chase Bank and How Does It Work? Activate It Easily

Autosave is a feature available to Chase customers that allows scheduling automatic and recurring transfers from a checking account to a savings account. Users can define the amount of money they want to transfer, the frequency (daily, weekly, monthly), and the start date. 

This automation helps establish a saving habit without the need to make manual transfers. This process is simple and customizable, allowing users to adapt the savings plan to their financial needs and goals. To activate Autosave, customers must follow these steps:

• Log in to their Chase account through the website or mobile app.
• Navigate to the "Automatic Savings" or "Autosave" section.
• Select the source checking account and the destination savings account.
• Set the amount to transfer, the frequency, and the start date.
• Confirm and save the settings.

Is There Any Cost or Is It Free?

The Autosave feature itself is free; there are no fees for scheduling automatic transfers between Chase accounts. However, it is important to note that the Chase Savings℠ account may have a $5 monthly service fee. This fee can be avoided if at least one of the following conditions is met: one is maintaining a minimum daily balance of $300.

Another is linking the savings account to a Chase checking account for overdraft protection. The third is making recurring automatic transfers of at least $25 from a Chase checking account to the savings account each statement period with Autosave.

Customers have expressed positive opinions about the Autosave feature. Many highlight the ease of use and how it has helped them establish consistent saving habits. According to reviews on specialized platforms, the Chase app, which includes the Autosave feature, has an average rating of 4.7 out of 5, reflecting high satisfaction among users.

Other Chase Bank Tips That Will Be Great for You

In addition to using Autosave, Chase Bank offers other tools and recommendations to encourage saving. The spending and budgeting tool is available in the Chase mobile app and allows monitoring expenses and managing budgets. It also helps identify areas where spending can be reduced and savings increased.

Customers can set up notifications to stay informed about balances, transactions, and due dates, facilitating more effective financial management. In turn, setting up direct deposit of the salary into the Chase checking account can simplify management. It can ensure that funds are immediately available to meet established savings plans.