Chase Bank is the consumer and commercial banking unit of JPMorgan Chase. The bank was well-known as Chase Manhattan Bank till the time it was purchased by JPMorgan in 2000. The bank has his headquarters in Chicago USA. Chase Manhattan Bank was constituted by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The history of the bank dates back in the end of 18th century when The Manhattan Company was formed in 1799. Next mark of the bank’s existence comes with the formation of Chase National Bank in 1877. Currently, Chase has a branch network of approximately nearly 3,100 branches and 250 mortgage offices, through which it is serving almost 30,000 clientele of commercial banking.
Key Features
Likewise other banks the online banking system provides a reliable and secure access to the online accounts of the customers. Its customers can easily Transfer their money between related Chase deposit accounts. Besides that, one can send funds in the same day to any U.S. bank account. The bank has also given access to the clients to view and print their transactions. Reordering of checks can be done on real time basis. One can even stop payments on paper checks. A client can also view the image of cleared cheques through the online system free of cost. Wire transfers alongwith Access of one’s all accounts, this includes even personal accounts and business accounts with one User ID and password.
Payroll Processing System
Chase provides their online technical expertise to the businessmen as well as individuals by offering business payroll processing solutions. Through this real time facility 1 to 5 payrolls can be dispatched to the employees through basic payroll account. However, if a client possesses a business payroll account the number of employees can be exceeded to 25 per transaction.
Paymentech
‘Paymentech’ is a banking product of the bank especially designed to facilitate the businessmen community and its retail clientele. The bank can excecute retails customers’ transactions quite swiftly whether they are restaurant owners or a franchise service, while corroborating with all the restaurant management systems and VARS. Chase bank’s Paymentech is quite popular among the all size of retailers. The bank assists them by providing a broad range of internet solutions that can increase customers' payment options, ensuing in a continuous flow of sales opportunities. The bank even provides POS solutions for PIN debit and credit card transactions. Furthermore, web based terminals are also at hand to the end-users to execute transactions from personal computer.
Secure Socket Layer Technology
To safeguard the accounts of the customers whether retail or institutional, Chase Online Banking uses Secure Socket Layer (SSL) System to secure individual information like User IDs, passwords and other account information over the Internet. All sorts of information which the bank provides are encrypted for decoding by the customers’ browser.
Online Bill Payment
With Chase bank’s Bill Payment Service, the client can pay anyone or any company within the U.S. There is no need no need to buy stamps or write cheques and one-time or repeating payments can be done through this internet banking facility. For convenience, the customer can track his expenses with up to 13 months of imbursement record
The Update
During the current year, Chase announced to fix its 107 ATMs to the roads of New York and New Jersey, by installing ATM machines at Hess Express gas stations across the pre- mentioned area. Chase consumers can obtain cash or check balances at its ATMs without any fee. The ATM installation process is expected to be completed before the first half of 2008.
In 2005, Chase had announced a corresponding spread out of its Tri-state ATM network which enabled Chase ATM to operate at more than two sixty Duane Reade drugstores in New Jersey, New York and Connecticut.
