Chase charges no monthly fee on most savings accounts, but you can trigger fees through specific actions or by not meeting account requirements
Chase offers several savings accounts with different fee structures. The Chase Savings Account (their standard option) has no monthly maintenance fee. The Chase Premier Savings account also has no monthly fee. However, both accounts can charge you for specific transactions or behaviors: overdraft fees if you go negative, fees for excessive withdrawals, or fees if you fail to maintain a minimum balance on certain account types.
The key is understanding which fees apply to which account and what triggers them. A $0 monthly fee does not mean $0 total fees — it means the bank does not charge you simply for having the account open.
Key Takeaways
- Chase Savings and Chase Premier Savings have no monthly maintenance fee, but other fees can still apply depending on your actions.
- Overdraft fees occur when your account goes negative, and Chase charges a standard overdraft fee each time this happens.
- Excessive withdrawal fees apply if you make more than six transfers or withdrawals per month from a savings account, which is a federal limit.
- Some Chase savings products require a minimum balance; falling below it may trigger a fee, so check your specific account terms.
- Waiving fees is often possible if you set up direct deposit, maintain a linked checking account, or meet other balance thresholds.
Overdraft fees and when they hit your account
If your Chase savings account balance drops below zero, Chase charges an overdraft fee. This happens when you attempt a transaction that exceeds your available balance. The fee is charged per overdraft event, not per day, so one transaction that takes you negative costs one fee, not multiple fees over time.
Chase also offers Overdraft Protection, which links your savings account to another account (usually checking) and automatically transfers money to cover the shortfall. If you use this service, you may avoid the overdraft fee, but you should confirm the transfer terms with your bank — some transfers carry their own fees or limits.
Excessive withdrawal fees and the six-transaction rule
Federal law limits the number of transfers and withdrawals you can make from a savings account to six per month. If you exceed this limit, Chase charges a fee for each transaction over six. This rule applies to transfers to other accounts, checks written against the savings account, and ACH transfers out.
Withdrawals at an ATM or in-branch do not count toward this limit, so you can withdraw cash as often as you want without triggering the fee. The restriction applies only to transfers and remote withdrawals that move money out of the account.
Minimum balance requirements and when they matter
Chase Savings has no minimum balance requirement, so you will not be charged for keeping a low balance. However, some specialty savings products or linked accounts may have different rules. If you opened a promotional savings account or a product tied to a checking account package, review your account agreement to confirm whether a minimum applies.
If a minimum does apply and you fall below it, Chase will charge a fee. The amount varies by account type, so check your statement or account details online to see what you agreed to.
How to avoid or reduce fees
The simplest way to avoid fees is to keep your balance positive, stay within the six-transaction monthly limit, and maintain any required minimum balance. If you struggle with the transaction limit, consider using ATM withdrawals instead of transfers, since ATM withdrawals do not count.
Some Chase customers can waive fees by setting up direct deposit, maintaining a linked checking account with a certain balance, or meeting other conditions tied to their specific account package. Log into your Chase account online or call the number on your statement to ask whether fee waivers are available for your account type.
Comparing Chase savings to other banks
Many online banks offer savings accounts with no monthly fee, no minimum balance, and higher interest rates than Chase. If you are paying fees at Chase, it may be worth comparing rates and fee structures at competitors like Ally, Marcus, or Discover. However, if you use Chase checking and want to keep everything in one place, the no-fee savings account may still make sense for convenience.
The trade-off is usually interest rate: Chase savings rates are typically lower than online-only banks, so you are paying for the convenience of branch access and integration with your checking account.
What to do if you see an unexpected fee
If Chase charged you a fee you do not recognize or believe was applied in error, contact Chase customer service through your online account, by phone, or at a branch. Explain the transaction and ask why the fee was charged. If the fee was a one-time mistake or if you have a good history with the bank, Chase may reverse it as a courtesy.
Keep records of your account statements and any communication with Chase about the fee. If the fee is part of a pattern or if Chase refuses to reverse it, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) online at consumerfinance.gov.
Frequently Asked Questions
Does Chase charge a monthly fee just for having a savings account?
No. Chase Savings and Chase Premier Savings have no monthly maintenance fee. You will not be charged simply for keeping the account open, but you can be charged for specific actions like overdrafts or excessive transfers.
What is the overdraft fee amount at Chase?
Chase charges a standard overdraft fee per occurrence, but the exact amount varies by account type and region. Check your account agreement or call Chase to confirm the current fee for your specific account.
Can I make unlimited withdrawals from my Chase savings account?
You can make unlimited ATM and in-branch cash withdrawals. However, federal law limits transfers and remote withdrawals to six per month; exceeding this triggers a fee per extra transaction.
Will Chase waive fees if I keep a high balance?
Chase may waive certain fees based on your account type and relationship with the bank. Some accounts waive fees if you maintain a linked checking account or set up direct deposit. Contact Chase to ask what options apply to your account.
What happens if I go over the six-transaction limit?
Chase charges a fee for each transaction over six in a month. The fee is charged per transaction, not as a single monthly charge. Switching to ATM withdrawals can help you stay within the limit since those do not count.