Chase reinvest dividends

J.P. Morgan Chase DRIP: Dividend Reinvestment Program

2022 J.P. Morgan Self-Directed Investing dividend reinvestment program fee and enrollment. Chase brokerage DRIP plan enrollment for automatic dividend reinvestment of stocks, mutual funds, ETFs, and ADRs. Is it free?

DRIP Service at J.P. Morgan Chase

If you recently opened a brokerage account with Chase’s new online discount firm J.P. Morgan Self-Directed Investing, you should be aware of the firm’s dividend reinvestment policies. We’ve done all the research for you. Here are the details:

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Chase Dividend Reinvestment Program

J.P. Morgan Chase offers a Dividend Reinvestment Program (DRIP) free of charge. It can be used to reinvest cash distributions as additional equity shares in stocks and ETF’s. Penny stocks are not eligible because J.P. Morgan Self-Directed Investing does not permit the trading of them.

There is no minimum price that a stock or ETF must be trading at to be eligible for the broker’s DRIP service; although esoteric equities may also have some exceptions. You can call customer service at 1-800-392-5749 if you have any concerns.

We did just this on a weekday morning. When we asked questions about the broker’s DRIP service, we had to be transferred to the trade desk. Apparently, customer service agents are not trained with these types of issues. We were on hold for about one minute, which is not bad for market open.

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How to Reinvest Dividends on J.P. Morgan Chase

It’s possible to enroll an entire account for automatic reinvestments or just individual securities. To access the dividend preferences page in your J.P. Morgan Chase account, just click on the person icon in the upper-right corner of the broker’s website. In the drop-down menu that appears, select ‘More Settings.’ Here you’ll find many choices for basic account management, such as adding beneficiaries and setting up alerts. In the left-hand column, you will see ‘Dividends and capital gains.’ Click on this option. Now, you’ll see distribution settings for both your entire account or individual securities. For either level, you can choose to either reinvest distributions or pay them in cash. Preferences for both dividends and capital gains can be established.

J.P. Morgan Chase requires your request to be submitted prior to a security’s record date (before 5 pm, EST) in order for it to be effective for the upcoming dividend. If you submit your request after 5 pm on the record date, your preference will be applied to the following dividend.

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Mutual Funds

Besides stocks and ETF’s, mutual funds can also be enrolled for automatic reinvestments of dividends and capital gain distributions. As with equities, putting mutual funds on autopilot takes a lot of manual work out of the equation. Establishing auto-reinvestments also helps mutual funds to grow in value (as with stocks and ETF’s).

Competitors With DRIP

Broker Review Promotion
Mutual Fund
Annual IRA
M1 Finance Up to $500 cash bonus for funding account at M1 Finance. $0 na $0 $0
Ally Invest Up to $3,000 cash bonus + $0 commission trades. $0 $9.95 $0 $0
TD Ameritrade $0 commissions + transfer fee reimbursement. $0 $49.99 ($0 to sell) $0 $0

When we look at other brokers’ DRIP policies, J.P. Morgan Chase certainly has some advantages. TradeStation, for example, does not offer a DRIP service of any kind, even for a fee. TradeStation customers must manually move cash out of their accounts or reinvest the idle funds.

Wellstrade customers can enroll stocks and ETF’s in automatic reinvestments, but they must call the broker to sign up. The WellsTrade site does not have an electronic form to specify reinvestment preferences.

Firstrade only allows automatic reinvestments on stocks priced above $4. J.P. Morgan Chase has no such policy, and some traders might prefer Chase’s simpler DRIP service.

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About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for, Chad can usually be found managing his portfolio or building a new home computer.