Chase QuickPay

• Easy to Make Payments
• Make Deposits
• Security

Easy to Make Payments

Chase QuickPay enables users to make and receive payments to/from anyone with an email address or U.S. mobile phone number. As far as a mobile wallet, it is important to note that this app is best suited for sending money between two parties for purposes such as:

• Paying the babysitter
• Paying rent
• Collecting money from others for a group event
• Sending money to family

While Chase QuickPay can also be used by businesses, this app really shines in secure person-to-person payments.

Sending payments is easy and secure with Chase QuickPay and there is no need to exchange financial information. Money is sent using a checking account.

In order to send payments, users sign into their app and perform the following steps:

• Enter the email address of the recipient, amount, select the account from which to fund the payment and the date on which the funds should be available to the recipient.
• Type/tap a message about the payment to the recipient.
• Verify that this information is correct
• Tap "Send Money"

The user can then see a confirmation of the payment and the recipient receives an email letting them know they have funds which await their acceptance. If the recipient does not yet have a Chase QuickPay account, they must enroll before the funds are released. Accepting payment is as simple as logging into the app or online and clicking/tapping "Accept", after which the funds are transferred into their account. Funds are then deposited directly into their bank account. If the transaction is between two Chase customers, the money is usually deposited the same day or by the next business day. For a non-Chase customer, the wait may be longer.

Chase QuickPay is also accepted with many financial institutions. As stated earlier, the user does not have to have a Chase account but does need a bank account. Chase QuickPay will work with any valid U.S. bank account. It is also supported by any device that can access the internet. 

Make Deposits

Not only can you send and receive money through Chase Quickpay, but you can also easily deposit funds into your Chase account either through Chase QuickDeposit, Chase ATMs, and Direct Deposit.

Security

Chase QuickPay offers all of the same security enjoyed by account holders of Chase Bank. Financial information is encrypted and stored on secure servers. 

When using the Chase Mobile App, after five failed attempts to log in, the app locks and users are not able to unlock it and log in until their account is accessed online and the password is changed. The Chase Mobile App will log out users after 12 minutes of inactivity as an added layer of security and to protect the user in case their phone is ever lost or stolen. Chase QuickPay is secure for users because no financial information is needed to send or to receive money.

• Not Available for Merchant Purchases
• Money Transfer Limits
• Lacks rewards

Not Available for Merchant Purchases

While it is possible for merchants to have customers pay using Chase QuickPay, it is not very common nor is it convenient. The merchant needs to have a Chase account and let customers know this is an option for payment by providing their email address. It is much more common and convenient for Chase QuickPay to be used for transactions between individual people which limits the ability of it becoming a full replacement for a physical wallet.

Money Transfer Limits

While there are no limits to the amount of money you can receive, there are limits on how much money you can send depending on the type of account you are using. These limits are as follows:

• Chase checking accounts — You can send up to $2,000 in one transaction, up to $2,000 a day and $16,000 in a calendar month.
• Chase private client or private banking client accounts — You can send up to $5,000 in one transaction, up to $5,000 a day and $40,000 in a calendar month.
• Chase business checking accounts — You can send up to $5,000 in one transaction, up to $5,000 a day and $40,000 in a calendar month.

Please note that transfer limits for participating Zelle banks and out-of-network banks will vary.

Lacks Rewards

There is no rewards or incentive program in place for using Chase QuickPay. While this isn't necessarily a common practice among mobile wallet companies, some do offer rewards or benefits that can be accessed by using the app.