Chase has no monthly fee for most checking and savings accounts, but you may pay fees later if you don't meet account requirements
Opening a Chase checking or savings account itself costs nothing. Chase does not charge an account opening fee. However, many Chase accounts come with a monthly maintenance fee — usually $12 — that kicks in after the first month or two if you don't meet certain conditions. The most common way to avoid this fee is to keep a minimum balance (often $500 to $1,500, depending on the account type) or set up direct deposit.
The account you choose determines what fees apply and what you need to do to waive them. A Chase Total Checking account, for example, has a $12 monthly fee unless you maintain a $500 minimum balance, receive direct deposits, or link it to a Chase savings account. A Chase Savings account has a $5 monthly fee unless you keep $300 in the account or have a linked checking account with direct deposit.
If you fall short of these requirements, the fee posts automatically each month. You can dispute it, but Chase's policy is to charge first. The fee reduces your account balance, which can trigger overdraft fees if your balance drops below zero.
Key Takeaways
- Opening a Chase checking or savings account has no upfront cost, but most accounts charge a monthly maintenance fee of $5 to $12 if you don't meet balance or deposit requirements.
- Direct deposit is the easiest way to waive monthly fees on most Chase accounts — you don't need a large balance if your paycheck or other income deposits automatically.
- Maintaining a minimum balance (usually $500 to $1,500) is another way to avoid monthly fees, but the money stays locked in that account and earns little to no interest.
- If you're charged a monthly fee you believe was unfair, you can contact Chase to request a one-time reversal, though they are not required to grant it.
Monthly maintenance fees and how to avoid them
Chase's most common checking account is Total Checking, which carries a $12 monthly maintenance fee. You can waive it in three ways: keep a $500 minimum daily balance, set up direct deposit of any amount, or link a Chase savings account to it. Most people choose direct deposit because it requires no balance and happens automatically once you set it up with your employer or benefit provider.
Chase Savings accounts charge $5 per month unless you maintain a $300 minimum balance or link them to a checking account with direct deposit. If you have both a checking and savings account, linking them often waives fees on both — but read the terms for your specific account, because requirements vary.
Chase also offers a Chase Student Checking account with no monthly fee for up to five years after you open it, as long as you're a student. After that period ends, it converts to a standard account with standard fees. There is no monthly fee for Chase's basic savings account if you maintain the minimum balance.
Other fees you may encounter after opening
Beyond the monthly maintenance fee, Chase charges for specific actions or situations. An overdraft fee is $35 per transaction if you spend more than your balance. Chase allows up to four overdraft fees per day, so a single day of overspending can cost $140. You can opt out of overdraft protection, which means transactions will be declined rather than charged a fee, but this may cause checks to bounce or payments to fail.
Transferring money out of Chase to another bank costs nothing if you use Chase's online transfer tool or a wire transfer initiated by the other bank. However, if Chase initiates a wire transfer on your behalf, they charge $15 for domestic wires and $45 for international wires. ATM fees apply if you use an out-of-network ATM — Chase charges $3 per transaction, and the other bank may charge an additional fee.
Closing an account within 90 days of opening it may trigger a $25 early closure fee, though Chase sometimes waives this if you ask. Replacement debit cards cost nothing for the first one, but reordering a card costs $15 if you lose it or request an expedited replacement.
How to open an account with no fees
The fastest way to avoid monthly fees is to open an account and immediately set up direct deposit. You don't need to wait for your first paycheck — any recurring deposit counts, including Social Security, pension payments, or regular transfers from another account. Once direct deposit is active, the monthly fee is waived indefinitely.
If direct deposit isn't an option for you, maintain the minimum balance required for your account type. For Total Checking, that's $500. For most savings accounts, it's $300. The money must stay in the account — if you drop below the minimum even once, the fee posts that month. This approach works but ties up money that could earn interest elsewhere.
You can also open a Chase Student Checking account if you're currently enrolled in a degree-granting program. This account has no monthly fee for five years, giving you time to establish direct deposit or build savings without worrying about fees.
What happens if you're charged a fee you didn't expect
If a monthly maintenance fee posts to your account and you believe it shouldn't have, contact Chase by phone, in-person at a branch, or through the mobile app. Explain why you think the fee was incorrect — for example, if you maintained the minimum balance or set up direct deposit. Chase may reverse the fee as a one-time courtesy, especially if it's your first time being charged.
Keep records of your balance and any direct deposit transactions. If Chase claims you didn't meet the requirement, you can show proof through your transaction history. Chase is not required to reverse fees, but many customers report success on the first request, particularly if the account is new.
If you're charged overdraft fees, you have the same option to request a reversal. Chase allows you to opt out of overdraft protection entirely, which prevents future overdraft fees but may cause transactions to decline. You can change this setting anytime through your account preferences.
Comparing Chase accounts by fee structure
| Account Type | Monthly Fee | Ways to Waive |
|---|---|---|
| Chase Total Checking | $12 | $500 minimum balance, direct deposit, or linked savings account |
| Chase Savings | $5 | $300 minimum balance or linked checking with direct deposit |
| Chase Student Checking | None (for 5 years) | Must be enrolled in a degree program; converts to Total Checking after 5 years |
| Chase Money Market Account | $25 | $25,000 minimum balance or linked account with direct deposit |
Frequently Asked Questions
Do I have to pay anything to open a Chase account online?
No. Opening an account online, by phone, or in person costs nothing. Chase does not charge an account opening fee. You will not be charged until after the account is open, and only if you don't meet the fee waiver requirements.
What if I can't maintain the minimum balance?
Set up direct deposit instead. Any recurring deposit — paycheck, Social Security, pension, or regular transfer from another account — waives the monthly fee. You don't need a large balance if direct deposit is active. If neither option works, you may want to explore banks with no monthly fees and no minimum balance requirements.
Can I switch to a different Chase account to avoid fees?
Yes. You can open a Chase Student Checking account if you're a student, or you can downgrade to a basic savings account with lower fees. Contact Chase to discuss which account fits your situation. Switching accounts does not cost anything, but closing an account within 90 days may trigger a $25 early closure fee.
Will Chase reverse a monthly fee if I ask?
Chase may reverse a monthly maintenance fee as a one-time courtesy, especially if it's your first time being charged or if you can show you met the fee waiver requirements. Call customer service or visit a branch to request a reversal. There is no may provide, but many customers report success on the first request.
What's the difference between a monthly maintenance fee and an overdraft fee?
A monthly maintenance fee posts automatically if you don't meet balance or deposit requirements — it's a charge for having the account. An overdraft fee is charged only when you spend more than your balance. You can avoid monthly fees by meeting requirements; you can avoid overdraft fees by opting out of overdraft protection or keeping a positive balance.