Chase Statements- Why Need Account Owner Access

Chase Statements- Why Need Account Owner Access

Why Connect Chase Using Accountant Access When You Have READ ONLY ACCESS?  

What is the value add and purpose of asking clients to connect to Ledgersync when you can access Chase with restricted access by yourself?


Overview


Chase Bank requires that only the account owner authorize connections to third-party fintech applications, including LedgerSync. This is a Chase policy and applies to all external integrations.


While Chase statements can be downloaded manually, connecting Chase directly through LedgerSync provides improved reliability, security, and automation.

Why Connect Chase Through LedgerSync?


Automatic Statement Downloads


LedgerSync pulls bank statements directly from Chase, removing the need for manual downloads and uploads. This helps prevent missing, incomplete, or incorrect statements.

Enhanced Security (Read-Only Access)


LedgerSync users can only see statements, checks and transactions and nothing more. This reduces the need to share or store banking credentials and is generally safer than alternative methods such as emailing or manually uploading statements.

Stable Long-Term Connection

  • Connections typically remain active as long as the bank password does not change

  • Chase may request a verification code approximately once every 12 months

  • This verification confirms the account is still authorized and actively monitored

Upcoming Feature: LedgerSync Close


LedgerSync is introducing a new Month-End Close system that will:

  • Compare Chase statements directly against accounting system transactions

  • Automatically identify missing or duplicate transactions

  • Review transaction categories using historical behavior, peer data, and AI analysis

  • Alert users only when confidence is low

  • Push approved updates back to the accounting system seamlessly


This feature significantly reduces manual reconciliation work while improving accuracy.

More Reliable Than Native Bank Integrations

Native Chase-to-accounting software integrations can be inconsistent and may disconnect without notice like with QBO. LedgerSync adds an additional validation layer to ensure statement accuracy and continuity. Ledgersync validates when a statement is supposed to be available and when not reports to our team to escalate with our data providers.

Client Protection by Design

  • All bank connections are authorized using the client’s own login

  • If a password changes, access is automatically revoked

  • No connection remains active without the client’s awareness

This ensures transparency and control at all times.

Important Considerations

Chase requires a one-time authorization step during setup. This is standard across modern fintech applications and enables long-term automation and data reliability.

Summary

Connecting Chase accounts through LedgerSync provides stronger security, more reliable data, and advanced automation—especially as new month-end close features become available. Manual statement downloads remain an option, but direct connections unlock significant efficiency gains.