Clients can fund their investment accounts more easily and quickly via the mobile app
J.P. Morgan Wealth Management launched QuickDeposit for Investments, enabling all clients to conveniently deposit checks into their investment accounts anytime from their phone.
“QuickDeposit for banking has always been one of our most popular features”
Now clients can click “Deposit Checks” on the Home or Pay & Transfer tabs in the Chase Mobile app, take a photo of the check and have their funds deposited in their investment account within 24 hours. This is another step in J.P. Morgan Wealth Management’s journey to building out its digital investment capabilities.
“QuickDeposit for banking has always been one of our most popular features,” said Kristin Lemkau, CEO of U.S. Wealth Management for J.P. Morgan. “Now we have that same capability for investments. Clients can deposit higher dollar checks right into their investment account quickly and safely.”
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Examples of QuickDeposit for Investments transactions include:
- Deposits into taxable investment accounts
- Contributions into Traditional or Roth IRAs
- Rolling over a 401(k) or other employer-sponsored retirement plan into an IRA (must be “like” accounts; both pre-tax or both post-tax)
- Transferring an IRA at another firm to J.P. Morgan Wealth Management (must be “like” accounts; both pre-tax or both post-tax)
JPMorgan Chase was one of the first banks to offer quick deposit for bank accounts, and now the feature is available for investment accounts. Clients can deposit up to $100,000 for taxable accounts and $500,000 for retirement accounts, every 30 days. Clients will also be able to use QuickDeposit for Investments in the J.P. Morgan app.
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“We know that most of our clients across the wealth spectrum like to handle basic transactions digitally, whether they work with a financial advisor or invest on their own,” said Ranjit Samra, Head of Technology at J.P. Morgan Wealth Management. “QuickDeposit for Investments allows them to do this efficiently and is an alternative to mailing a check or going to a branch.”
J.P. Morgan Wealth Management offers a full spectrum of services and products for clients to plan and invest. They can invest digitally online, remotely over video or phone with an advisor, or in-person with an advisor in an office or local Chase branch.
J.P. Morgan Wealth Management ranked #1 in Customer Satisfaction with Wealth Management Digital Channels in the J.D. Power 2022 U.S. Wealth Management Digital Experience Study.
In December 2022, J.P. Morgan launched Wealth Plan, a free digital money coach that gives all Chase customers a full picture of their finances and helps them plan, save and invest, all in one place. Wealth Plan is available to all 62 million digitally-active Chase customers in the Chase Mobile app and Chase.com.
Accounts eligible for QuickDeposit for Investments include brokerage and managed accounts; individual or joint, taxable, traditional IRAs or Roth IRAs.
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