Finn by Chase will be shut down on August 10th, 2019. It is a checking account I use right now, as it has no monthly fees and I am able to take out cash from any Chase ATMs’ and use partner ATMs without a fee. The account number, PIN, user ID and password, and direct deposit all stay the same.
What will Replace Finn?
It will be replaced by Chase’s Chase Secure Checking and your savings account to Chase Savings. Chase Secure Checking does charge a $4.95 monthly fee, but due to being a Finn Member, Chase will waive the fees for both checking and savings account. Also once this transaction goes through you will pay an ATM fee if you use any other ATM that is not from Chase.
Why Finn Failed
Finn failed due to a lack of demand as they are many other online digital banks or credit unions that offer similar services with better rates, customer service, and overall user experience. I find the UI for Finn App to be odd as both Finn and the chase App to both integrate with the account information so it made no sense to even have the Finn App in the first place. It should have been a no-fee account created by chase instead of creating a brand new service that failed. Overall I am happy that the transition to chase secured checking account will not occur any monthly fees.