Chase Bank

The Chase Bank, formally known as Chase Manhattan Bank, was founded after the merger of two banks in New York in 1955. The banking institution has its roots from Bank of the Manhattan Company and Chase National Bank.

The Chase National Bank was formed in 1877. It was named after Salmon P. Chase, who was the Chief Justice and former Treasury Secretary of the United States at that time although he had no connection with the company.

Chase National Bank had its share in the prosperity of American banks in 1920’s in which the bank became the leading provider of wholesale banking. During this decade, the bank acquired smaller banks. The acquisitions were made through Chase Securities Corporation. The bank’s acquisition of Equitable Trust Company based in New York made Chase National Bank the largest banking company in America in 1930. John D. Rockefeller, Jr. among the richest men at that time was the largest stockholder of the acquired bank.

Meanwhile, the bank of Manhattan Company was established by Aaron Burr. The creation of the bank led to the establishment of second bank in New York. It was intended to rival Bank of New York founded by Alexander Hamilton. The creation of Aaron Burr’s bank was made in 1798.

The two banks had its own history in New York until the amalgamation was made in 1955. The bank prospered during the 1970’s and 1980’s under the leadership of David Rockefeller. It lost its luster when the bank was affected from the collapse of real estate in America in 1990’s. The bank was then acquired by Chemical Banking Corporation and renamed it into Chase Manhattan Corporation.

The last month of 2000 showed under drastic change in the company when it was merged with J. P. Morgan & Co. The merger resulted to the creation of JPMorgan Chase.

Recently, Chase Bank provides its own line of financial services. Even though it was part of JPMorgan Chase, it still retains its brand as Chase and continuously offers banking services as well as financial products and services.

Chase Bank can provide its clients with consumer banking and commercial banking. Its products and services for consumer banking can include credit card; small business; home finance; auto and education finance and insurance.

Aside from those financial products, Chase bank offers traditional banking accounts, debut cards, and time deposit account. The bank’s Chase Online e-banking service can provide bank clients with convenient banking services any time of the day. Chase Bank online banking can be accessed 24 hours. Through the bank’s latest banking service technology, clients can gain access to their checking and saving accounts. It is probable then to view the account statement due to the bank when clients have availed of Chase Bank credit card, mortgages and auto loans. It may also be possible to pay bills online using the bank’s e-banking system.

Aside from personal banking, business clients may also take advantage of Chase Bank’s business banking services. The bank can also issue business cards. Businesses may also avail of its commercial banking services of Chase Bank.

Business clients can avail of the following commercial banking services of Chase Bank: equipment leasing, business credit and middle market. The bank may also provide corporate and commercial real estate services. The bank can also provide asset management and investing services. It can also be possible for businessmen to avail of securities and Treasury services from the bank.

Chase Commercial Online is an e-banking system of the bank offered to Middle Market clients. The features of the online banking system can help clients in the control and management of finances. Other convenient banking services can also be featured in the bank’s e-system.

Chase Bank with its new corporate structure can still be able to provide clients with financial services under its brand. Its website on the internet can provide prospects and clients with details and information about the bank. It may link clients to their online accounts in the bank.