Chase has no minimum deposit requirement to open most accounts
You can open a Chase checking or savings account with zero dollars. Chase does not require you to deposit money upfront to create the account. You can open the account online, by phone, or in a branch, and then add money whenever you choose.
However, some Chase accounts do have minimum balance requirements once the account is open. These minimums determine whether you pay a monthly fee. If you fall below the minimum, Chase charges a monthly maintenance fee—usually $12 for checking accounts, though this varies by account type.
The key distinction: no money is required to open the account, but maintaining a low or zero balance may cost you in monthly fees unless you meet other conditions to waive them.
Key Takeaways
- Chase checking and savings accounts have no minimum deposit to open, so you can create an account with $0.
- Monthly maintenance fees apply if your balance falls below the minimum, typically $500 to $1,500 depending on the account type.
- You can waive monthly fees by setting up direct deposit, maintaining a minimum balance, or linking accounts.
- Chase offers fee-free accounts for students and military members that have no balance requirement at all.
Monthly maintenance fees and how to avoid them
Chase's most common checking account, the Chase Total Checking, has a $12 monthly maintenance fee if your balance drops below $500. But you can waive this fee in several ways: set up direct deposit of any amount, maintain a $500 minimum balance, or link a Chase savings account with a $300 minimum balance.
Chase savings accounts typically have a $300 minimum balance requirement to avoid a $5 monthly fee. Again, you can waive this by setting up direct deposit or linking a checking account that meets its own minimum.
If you do not meet any of these conditions and carry a low balance, the monthly fee will be charged automatically. There is no grace period—the fee posts on the same day each month.
Account types with no balance requirement
Chase offers two accounts that have no minimum balance and no monthly fee, period: the Chase Student Checking account and the Chase Military Checking account. Both are free to maintain regardless of how much money sits in them.
The Student Checking account requires proof that you are enrolled in school and are under 24 years old. Once you turn 24, the account converts to a standard Chase checking account and the monthly fee applies unless you meet the waiver conditions.
The Military Checking account is open to active-duty service members, veterans, and military families. You will need to verify your military status through Chase's verification partner. This account remains free for life, with no balance requirement and no monthly maintenance fee.
How to open a Chase account with no money
You can open a Chase account online at chase.com without depositing anything. You will need a Social Security number, a valid government-issued ID, and a current address. The online process takes about 10 minutes and you can start using the account immediately—Chase will issue you a debit card and routing numbers for direct deposit or transfers.
If you prefer to open an account in person, visit a Chase branch. Bring your ID and Social Security number. The banker can open the account on the spot with no deposit required. You will receive a temporary debit card and can order a permanent one to be mailed to you.
Opening by phone is also an option: call Chase at 1-800-935-9935 and a representative can walk you through the process. You will still need to verify your identity and provide your Social Security number.
What happens if you never deposit money
If you open an account and never add funds, Chase will still charge the monthly maintenance fee each month until the account goes negative. Once the balance goes negative, Chase may close the account and report it to ChexSystems, a banking history database that other banks check when you try to open new accounts.
If you open an account but do not plan to use it, close it instead. You can close a Chase account online, by phone, or in person. Closing prevents fees from accumulating and keeps your banking record clean.
If your account has already gone negative and been closed, you can still open a new Chase account—Chase does not permanently ban customers—but you may face restrictions on which account types are available to you.
Minimum balance requirements by account type
| Account Type | Minimum to Avoid Fee | Monthly Fee if Below Minimum | Ways to Waive Fee |
|---|---|---|---|
| Chase Total Checking | $500 | $12 | Direct deposit, or link savings account with $300 minimum |
| Chase Savings Account | $300 | $5 | Direct deposit, or link checking account that meets its minimum |
| Chase Student Checking | None | None | No fee regardless of balance (until age 24) |
| Chase Military Checking | None | None | No fee regardless of balance (lifetime) |
Direct deposit as a fee waiver
Setting up direct deposit is the easiest way to waive Chase's monthly maintenance fees. Direct deposit means your employer, government agency, or other payer sends your paycheck or benefit payment straight into your Chase account. Chase counts any direct deposit amount—even $1—as meeting the condition to waive the fee.
You do not have to keep the money in the account. You can receive a $2,000 direct deposit, spend it all, and still have the fee waived for that month. The fee waiver applies as long as at least one direct deposit posts during the monthly cycle.
If you do not receive direct deposit, you can still waive fees by maintaining the minimum balance or linking accounts. But if you receive any regular payment by direct deposit—paycheck, Social Security, unemployment, tax refund—using it to waive fees is the most reliable option.
Frequently Asked Questions
Can I open a Chase account online with no money right now?
Yes. Go to chase.com, select "Open an Account," and follow the steps. You will need your Social Security number and a valid ID. The account opens immediately and you can use it before any money is deposited.
What happens if I open an account and never use it?
Chase will charge the monthly maintenance fee each month until the account balance goes negative. Once negative, Chase may close the account and report it to ChexSystems. Close unused accounts instead to avoid this.
Do I have to keep $500 in my checking account all the time?
No. You only need to maintain $500 to avoid the monthly fee. If your balance drops below $500 one day but you deposit money the next day, you still owe the fee for that month. The fee is based on your balance on the last day of the billing cycle.
Can I waive the fee by linking two Chase accounts?
Yes. If you link a Chase checking account to a Chase savings account, each account can use the other's balance to meet its minimum requirement. For example, a $300 savings account can waive the checking account's $12 fee if the checking account meets its own $500 minimum.
What if I'm under 18—can I open a Chase account?
You can open a Chase Student Checking account if you are under 24 and enrolled in school. If you are under 18, you may need a parent or guardian to co-sign. Contact Chase directly or visit a branch to confirm the requirements for your age.