What Chase charges for checking accounts
Chase does not charge a monthly fee on most of its checking accounts. The Chase Total Checking account, which is the most common option, has no monthly maintenance fee. The Chase Premier Plus Checking account also has no monthly fee. However, Chase does charge fees for specific actions—overdrafts, wire transfers, stop payments, and other services—and those fees apply regardless of which account you hold.
The account itself is free. The fees come when you use certain services or when your account goes negative. Understanding which actions trigger charges helps you avoid them.
Key Takeaways
- Chase checking accounts have no monthly maintenance fee, but you will pay per-transaction fees for overdrafts, wire transfers, stop payments, and other services.
- An overdraft fee is charged each time your account goes below zero, and Chase allows multiple overdrafts in a single day, so fees can stack quickly.
- You can avoid most fees by keeping a positive balance, setting up overdraft protection linked to a savings account, or declining overdraft coverage.
- Chase offers a grace period on overdrafts: if you bring your account positive by the end of the next business day, the fee may be waived.
- Wire transfer fees, stop payment fees, and returned-check fees are separate charges that apply when you request those specific services.
Overdraft fees and how they add up
An overdraft fee is charged when a transaction brings your account below zero. Chase charges this fee each time an overdraft occurs, and multiple overdrafts in a single day can result in multiple fees. The overdraft fee amount varies by region and account type, so you should check your account agreement or call Chase directly for the exact amount in your area.
Chase allows you to opt out of overdraft coverage entirely. If you decline overdraft protection, transactions that would overdraw your account will simply be declined at the point of sale. This prevents the fee but also means your debit card or check will not go through. Some people prefer this to paying overdraft fees; others prefer the coverage. The choice is yours to make.
If you do incur an overdraft fee, Chase offers a grace period: if you bring your account back to a positive balance by the end of the next business day, you can contact Chase and request a waiver. This is not automatic, but Chase does grant waivers in many cases, especially if you have a good account history.
Overdraft protection: linking a savings account
The most common way to avoid overdraft fees is to set up overdraft protection by linking a Chase savings account to your checking account. If a transaction would overdraw your checking account, Chase automatically transfers money from your savings account to cover it. You are not charged an overdraft fee; instead, you pay a transfer fee, which is typically lower than an overdraft fee.
This protection only works if your linked savings account has enough money to cover the overdraft. If both accounts are empty, the transfer cannot happen and you will be charged an overdraft fee on the checking account. You can also link an external account from another bank, though the transfer process may take longer and may not prevent the overdraft fee from posting immediately.
Wire transfer, stop payment, and other service fees
Beyond overdrafts, Chase charges fees for specific services. A domestic wire transfer typically costs money, and an international wire transfer costs more. A stop payment request—asking Chase to prevent a check from clearing—also carries a fee. If a check you deposit bounces or is returned, Chase charges a returned-check fee. Each of these is a separate charge that applies when you request the service.
These fees are not tied to your account balance or account type. They apply whenever you use the service. If you need to send a wire transfer, for example, you will pay the wire fee regardless of whether you have overdraft protection or a high account balance.
How to keep your account fee-free
The simplest way to avoid fees is to keep your checking account balance positive at all times. Monitor your account regularly—through the Chase mobile app, online banking, or by calling the automated line—so you know how much money is available before you make a purchase or pay a bill.
If you are worried about overdrafts, set up overdraft protection by linking a savings account. This costs nothing to set up and only charges a transfer fee if the protection is actually used. Alternatively, you can decline overdraft coverage entirely, which means transactions will be declined rather than charged.
For wire transfers and stop payments, use these services only when necessary. If you can pay a bill through Chase's bill pay system instead of sending a wire, you will avoid the wire fee. If you can cancel a check before it clears, you will avoid the stop payment fee.
Comparing Chase checking to other banks
Many banks, including online banks, also offer checking accounts with no monthly fee. The difference often comes down to overdraft policies and customer service. Some banks charge higher overdraft fees than Chase; others charge lower fees or offer more generous grace periods. Some online banks do not offer overdraft protection at all, which means you cannot link a savings account to prevent overdrafts.
If overdraft fees are a concern for you, compare the overdraft policies of several banks before choosing. Ask each bank: What is the overdraft fee? How many overdrafts can occur in a single day? Is there a grace period? Can I link a savings account for protection? The answers will help you decide which bank's checking account works best for your situation.
Frequently Asked Questions
Does Chase charge a monthly fee for checking?
No. Chase Total Checking and Chase Premier Plus Checking both have no monthly maintenance fee. You only pay fees when you use certain services—overdrafts, wire transfers, stop payments—or when your account goes negative.
What happens if I overdraft my account multiple times in one day?
Chase charges an overdraft fee each time your account goes below zero. Multiple overdrafts in a single day can result in multiple fees stacking on top of each other. Bringing your account positive by the end of the next business day may allow you to request a fee waiver.
Can I turn off overdraft protection?
Yes. You can decline overdraft coverage, which means transactions that would overdraw your account will be declined instead. This prevents overdraft fees but also means your card or check will not go through. You can change this setting at any time through Chase online banking or by calling the bank.
How much does a wire transfer cost at Chase?
Wire transfer fees vary by the type of transfer. Domestic wire transfers and international wire transfers have different fees. Check your account agreement or call Chase for the exact amount, as fees can change and may vary by region.
What is overdraft protection and how does it work?
Overdraft protection links your checking account to a savings account. If a transaction would overdraw your checking account, Chase automatically transfers money from savings to cover it. You pay a transfer fee instead of an overdraft fee, and only if the protection is actually used.