CHICAGO – Chase and Bank One, the consumer brands of JPMorgan Chase & Co., announced today that their credit card, mortgage and other loan customers can now make payments at any Chase or Bank One branch. The cross-branch payments capability is a significant milestone in the integration of the Bank One brand into Chase. Chase and Bank One branches currently receive more than 1.5 million payments each month at the combined branches. With the new cross-branch capability, it is anticipated that these numbers will grow significantly. Chase is one of the nation’s leading credit card issuers, the nation’s largest home-equity lender, one of the top three mortgage lenders, and a major lender in auto loans.
“All of our loan customers can now make payments at any of our 2,500 branches across our 17-state footprint, regardless of whether the branch is named Chase or Bank One,” said Charles W. Scharf, head of Retail Financial Services. “This new capability is especially important for the 14 million Chase and Bank One loan account holders who live in states where we have branches.”
Customers can now make payments on credit cards, mortgages, home equity loans and lines of credit, personal loans and auto loans at branches in the following states: Arizona, Colorado, Connecticut, Florida, Illinois, Indiana, Kentucky, Louisiana, Michigan, New Jersey, New York, Ohio, Oklahoma, Texas, Utah, West Virginia, and Wisconsin.
In addition to the cross-branch capability, Bank One branches can now accept payments from first-mortgage customers. These new capabilities are the result of the most recent technology conversion, which brought together more than 125 million customer accounts into a single database.
Chase has more than 94 million cards issued, originates $50 billion annually in home equity loans and more than $100 billion annually in mortgages, and has more than $50 billion in outstandings in auto loans.
All Bank One branches are currently being converted to the Chase brand. Branches in Kentucky, Oklahoma, Utah and Wisconsin recently completed this conversion. Bank One branches in Colorado, Louisiana, Illinois, Texas, Indiana, Arizona, Ohio, Michigan, Florida and West Virginia will move to the Chase brand later this year or in 2006.
