May 16, 2013

C H A S E L I Q U I D ®

 Jon Wilk, SVP, JPMorgan Chase

“JPMorgan Chase,” “Chase,” the octagon symbol and other words or symbols in this document that identify JPMorgan 

Chase products or services are service marks of JPMorgan Chase & Co.

© 2013 JPMorgan Chase & Co. All rights reserved.
C H A S E L I Q U I D ®

Chase Liquid® Background

 Customer design target is a mass market and low to moderate income consumer looking for a 

cost effective, simple and secure alternative to a traditional checking account

 During consumer research conducted anonymously by Chase, many low and moderate 

income research participants discussed their use of alternative financial products and services, 

such as payday loans, check cashers, money orders and prepaid cards, as well as their desire 

for something better

 Key reasons consumers use prepaid cards: 

 Control spending

 Avoid overdraft

 Direct deposit funds, including tax refunds

 Avoid carrying around cash 

 Make purchases online

 Maintain account separate from primary account

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C H A S E L I Q U I D ®

Chase Liquid Product Features

Chase Liquid is a general purpose reloadable prepaid card

 One flat monthly fee of $4.95

 No additional fees

– To load funds (cash or checks) or get cash at Chase ATMs and branches nationwide 

– For direct deposit

– For customer service (automated, live telephone service or in-branch support)

– For electronic or paper statement

– For card replacement

 Funds loaded are FDIC insured, subject to FDIC limits

 Features and services that help consumers manage their money such as online banking, mobile 

banking (including Chase QuickDepositSM), alerts and the ability to get a real-time balance any time 

and anywhere via SMS text

 No overdraft features and no fees charged in the unlikely case of a negative balance

 Broad support in both English and Spanish

 Chase Liquid customers with past blemished banking histories are eligible to open a traditional Chase 

checking account after exhibiting responsible financial behavior on their Chase Liquid card for a period 

of time

 Existing Chase checking customers can add Chase Liquid as a complementary product to their 

checking account

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C H A S E L I Q U I D ®

Chase Liquid Customer Experience

Feature/Service Chase Liquid Chase Total 

Checking

Standard account opening process with full KYC 

screening at Chase branches

 

“Instant Issue” cards available in select branches at 

account opening and for lost card replacement

 

Risk-based funds availability rules applied to 

deposited checks

 

Use of Chase branches, Chase ATMs, telephone

banking and other Chase service channels

 

Availability of Chase Customer Claims for disputes  

Zero Liability protection  

Online bill pay, checks, outbound ACH, wire transfers  

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C H A S E L I Q U I D ®

Chase Liquid is Bringing New Customers to the Bank

 69% of Chase Liquid portfolio are new 

customers to Chase (as of March 2013)

 The rate of New to Chase customers as a 

percent of monthly acquisitions has 

increased from 52% at launch to 76% in 

March 2013

* Existing customers include any Chase Liquid customers with a Chase deposit relationship 

Chase Liquid portfolio composition

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Portfolio

69%

New to Chase 

Customers

31%

Existing 

Customers*

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C H A S E L I Q U I D ®

65%

55%

35% 45%

0%

20%

40%

60%

80%

100%

Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13

 Customers who are New to Chase and choose Chase Liquid fall into two groups:

 Group 1: those with good banking histories who are eligible to open any deposit account with Chase

 Group 2: those with blemished banking histories who are eligible to open only Chase Liquid or Chase 

Access Checking, our checking product designed for customers with blemished banking histories

 We are pleased with the mix of Group 1 and Group 2 customers

 The increase in Group 1 share shows that Chase Liquid is an attractive alternative to a traditional 

checking account

 At the same time, Group 2 customers are finding Chase Liquid to be a better product fit than Access 

Checking. The number of customers with blemished histories choosing to open an account has 

increased by 16 percentage points since Chase Liquid was launched

New to Chase Customer Profiles

Group 1- Customers eligible to open any account type

Group 2- Customers eligible to open only Liquid or Access

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C H A S E L I Q U I D ®

New to Chase Customer Profiles 

Definitions

 Never Banked: Customers who have never had a bank account as evidenced by no bank account closures or check orders in the prior 5 and 2 year periods respectively

 Unbanked: Customers answering “No” to the question - “Do you or does anyone in your household currently have a checking or savings account?”

 Underbanked: Customers with a checking or savings account, but rely on alternative financial services, such as non-bank money orders, non-bank check-cashing services, money transfer services and 

payday loans

 Rebuilding: Customers who have had problems in the past including charge-offs or bankruptcies

 Other - New to Chase: Customers who don’t meet the above definitions and don’t have an existing deposit relationship with Chase

Source: FIS (eFunds), Chase Marketing Analytics

 Of the New to Chase customers, we estimate that 48% are within the Never Banked, Unbanked or 

Underbanked customer segments

 The vast majority of New to Chase Liquid customers had no bureau score or a score below 660 when 

they opened their Chase Liquid account

New to 

Chase -

Liquid 

Only, 

65%

New to 

Chase -

Liquid + 

DDA, 3%

Existing 

DDA, 

32%

Unbanked, 

18%

Underbanked, 

17%

Never 

Banked, 14%

Rebuilding, 

49%

Other New to 

Chase, 3%

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C H A S E L I Q U I D ®

Building Awareness of Chase Liquid in the Communities We Serve

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