Chase Deposit Account Agreement

This is JPMorgan Chase Bank's Deposit Account Agreement, the foundational contract governing all personal checking, savings, CD, and business deposit accounts opened at Chase. The agreement authorizes Chase to apply funds from any of a customer's accounts to satisfy debts owed to Chase or its affiliates, including debts on joint accounts and, to the extent permitted by law, federal benefit payments such as Social Security that have been deposited. The agreement also requires that most disputes be resolved through individual arbitration rather than court proceedings, and includes a class action waiver.

This document is the JPMorgan Chase Bank, N.A. Deposit Account Agreement (effective 6/14/2026), a contract governing all personal, business, and J.P. Morgan Private Client deposit accounts, operating under federal banking law and applicable state law where federal law does not supersede. The agreement states that Chase may close accounts at any time without prior notice, reserves the right to change interest rates without limits or notice on variable-rate accounts, asserts a broad right of set-off against all accounts including federal benefit payments to the extent permitted by law, and requires disputes to be resolved through arbitration with a class action waiver. The agreement's shortened lawsuit filing period (section IX.Q), its assertion that multiple-signature requirements carry no legal effect, and its provision permitting Chase to share account information with third parties in connection with transactions, legal process, and as permitted by its Privacy Notice are operationally distinct provisions; the class action waiver and arbitration clause are broadly standard in retail banking but the set-off provision's explicit extension to federal benefit payments may be subject to federal preemption analysis depending on the specific benefit type and jurisdiction. The agreement engages the Electronic Fund Transfer Act and Regulation E (administered by the CFPB) for personal account EFT protections, the Gramm-Leach-Bliley Act for financial privacy disclosures, Regulation CC for funds availability, the Uniform Commercial Code for negotiable instruments and security interests, and ERISA for retirement account provisions; California residents are additionally directed to the CCPA Disclosure for business account personal information, though the agreement notes the CCPA does not apply to personal information governed by GLBA or FCRA.

The agreement establishes that Chase may close any deposit account at any time without prior notice for any reason, and may use funds across all of a customer's accounts to satisfy debts owed to Chase or its affiliates, including joint account funds for any owner's individual debt. Under these terms, most disputes must proceed through individual arbitration rather than court, and the agreement includes a class action waiver. You can change direct deposit instructions with the paying organization at any time if you do not want subsequent deposits applied to overdraft repayment.