JPMorgan Chase is expanding its Sapphire offering to include checking accounts, and is transferring its Chase Premier Platinum Accounts into Sapphire accounts. The bank said it was aiming to attract and retain increasingly affluent millennials, who were earning and saving more. It said the new accounts would eliminate some fees, including for wire transfer and foreign exchange at overseas ATMs. “Millennials are more likely than any other generation to have a credit card or debit card, so we wanted to offer them something that they could use in their everyday lives,” Mr. Dimon said. The new bank accounts will also eliminate some of the fees that can annoy consumers, including those for wire transfers and foreign exchange at overseas ATMs. It is also working on further extensions to the Sapphire brand.
JPMorgan Chase is expanding its Sapphire offering to include checking accounts, and is transferring its Chase Premier Platinum Accounts into Sapphire accounts. The bank said it was aiming to attract and retain increasingly affluent millennials, who were earning and saving more. It said the new accounts would eliminate some fees, including for wire transfer and foreign exchange at overseas ATMs. “Millennials are more likely than any other generation to have a credit card or debit card, so we wanted to offer them something that they could use in their everyday lives,” Mr. Dimon said. It is also working on further extensions to the Sapphire brand.