Chase checking accounts have no monthly fee if you meet one simple requirement

Chase's main checking account, the Chase Total Checking, costs nothing per month as long as you keep a minimum balance of $500 or set up direct deposit. If you do neither, the monthly service fee is $12. There is no fee to open the account, and you can close it anytime without penalty.

Chase also offers Chase Premier Plus Checking, which costs $25 per month but waives the fee if you maintain a $25,000 balance or have a may have access to Chase mortgage or investment account. This account includes perks like higher interest rates and fee waivers on certain services, but most people use Total Checking instead.

The cost difference between these two accounts comes down to what you already have with Chase and how much money you keep in the account. If you get paid by direct deposit or can hold $500, Total Checking is free. If you cannot meet either condition, you will pay $12 monthly unless you switch to a different bank.

Key Takeaways

  • Chase Total Checking has no monthly fee if you maintain a $500 minimum balance or receive direct deposit into the account.
  • If you fall below $500 and have no direct deposit, Chase charges $12 per month.
  • Chase Premier Plus Checking costs $25 monthly but waives the fee for customers with $25,000 on deposit or a may have access to mortgage.
  • You can avoid all monthly fees by using direct deposit, which most employers offer at no cost to you.

How the $500 minimum balance works

The $500 minimum is a daily balance requirement, not an average. This means your account balance must be at least $500 every single day to avoid the $12 monthly fee. If your balance drops to $499 on any day, you will be charged the fee that month, even if you bring it back up the next day.

The balance includes all money in your checking account—deposits, transfers, paychecks, everything. It does not include savings accounts, money market accounts, or investments you hold with Chase. Only the checking account balance counts toward this threshold.

If you receive direct deposit, the $500 minimum does not apply. One direct deposit per month, of any amount, waives the fee regardless of your balance. This is why direct deposit is the easiest way to keep the account free.

What happens if you do not meet the requirement

If your balance falls below $500 and you have no direct deposit that month, Chase will charge you $12 on the last day of the month. The fee comes out of your account automatically. If your balance is already low, this fee can push you into overdraft territory, which triggers additional overdraft fees ($35 per overdraft, up to three per day).

You can dispute the monthly service fee by calling Chase customer service, but they will only reverse it if you can show you met the requirement or if there was an error on their part. Calling to ask for a one-time reversal sometimes works if you have been a customer for a long time, but it is not may provide.

The best approach is to set up direct deposit before the fee hits. Once direct deposit is active, the $12 fee stops appearing, even if you had been charged it before.

Direct deposit as the easiest path to a free account

Direct deposit means your employer or a government agency (Social Security, unemployment, tax refunds) sends your payment straight into your Chase checking account. You do not have to do anything after setting it up—the money arrives on payday automatically.

To set up direct deposit, you give your employer your Chase account number and routing number. Chase provides both on your debit card, checks, or in the mobile app. Your employer's payroll department handles the rest. There is no cost to you, and it usually takes one or two pay periods to activate.

If you do not receive a regular paycheck, you can still use direct deposit. Tax refunds, Social Security, unemployment benefits, and pension payments all count. Even one direct deposit per month keeps your account free.

Fees beyond the monthly service charge

Chase Total Checking has no overdraft fee if you opt out of overdraft protection, which means transactions will be declined if you do not have enough money. If you keep overdraft protection on, Chase charges $35 per overdraft transaction, up to three times per day. This can add up quickly if you make multiple purchases while your balance is low.

Other common fees include $3 for out-of-network ATM withdrawals (though Chase has thousands of ATMs nationwide), $15 for a returned deposit, and $30 for a stop payment on a check. Wire transfers, cashier's checks, and account research requests also carry fees, but these are less common.

You can avoid most of these fees by using Chase ATMs, keeping your balance positive, and not writing checks that might bounce. The monthly service fee is the only one you need to actively manage by meeting the $500 balance or setting up direct deposit.

How Chase Total Checking compares to other banks

Many online banks and credit unions offer checking accounts with no monthly fee and no minimum balance requirement. Banks like Ally, Charles Schwab, and most credit unions do not charge a monthly service fee at all. However, Chase offers something these banks cannot: thousands of physical branches and ATMs where you can deposit cash and speak to a person.

If you value in-person banking and do not mind the $500 minimum or direct deposit requirement, Chase Total Checking is competitive. If you rarely visit a branch and want to avoid any balance requirement, an online bank or credit union may save you money and hassle.

The choice depends on how you bank. If you deposit cash regularly, need to speak with someone in person, or already have other Chase accounts, staying with Chase makes sense. If you bank entirely online and want the lowest possible fees, switching to an online bank could be worth it.

Frequently Asked Questions

What if I have a savings account with Chase—does that count toward the $500 minimum?

No. Only money in your Chase Total Checking account counts toward the $500 daily balance requirement. Savings accounts, money market accounts, and investments are separate and do not help you avoid the monthly fee. You need $500 in the checking account itself or one direct deposit per month.

Can I use a transfer from another bank to meet the $500 minimum?

Yes, but only if the transfer comes from outside Chase. If you move money from your Chase savings account to your checking account, it counts. If you transfer from another bank's account, it also counts. The balance just needs to be there on the last day of the month.

Does a one-time direct deposit stay active, or do I need it every month?

You need at least one direct deposit per month to waive the fee. If you receive direct deposit one month and not the next, you will be charged the $12 fee in the month with no deposit. If your income is irregular, keeping the $500 balance is more reliable than counting on direct deposit.

What is the routing number for Chase, and where do I find my account number?

Chase's routing number varies by state and branch. You can find your specific routing number on the bottom left of your checks, in the Chase mobile app under account details, or by calling Chase customer service. Your account number is on your checks and in the app as well. Both are also printed on your debit card in some cases.

If I close my Chase checking account, do I owe anything?

No. There is no fee to close a Chase checking account at any time. You can close it online, by phone, or in person at a branch. Make sure you have withdrawn or transferred all your money first, and that any pending transactions have cleared.