Chase checking accounts have no required opening deposit
You do not need any money to open a Chase checking account. Chase does not charge an opening deposit for any of its standard checking products — not for Chase Total Checking, Chase Premier Plus Checking, or Chase Sapphire Checking. You can walk into a branch or open online with zero dollars and complete the account setup.
What matters instead is what happens after you open the account. Chase charges monthly maintenance fees on most checking accounts unless you meet one of their waiver conditions. Those conditions vary by account type and usually involve either keeping a minimum balance or setting up direct deposit.
Key Takeaways
- Chase checking accounts require no money to open, but most charge a monthly fee unless you meet a waiver condition.
- Chase Total Checking waives its $12 monthly fee if you maintain a $500 minimum balance or receive direct deposit.
- Chase Premier Plus Checking requires either a $25,000 minimum balance or direct deposit to waive its $25 monthly fee.
- You can avoid monthly fees by choosing Chase Sapphire Checking, which has no monthly maintenance fee but requires a $500 minimum balance to earn interest.
- Opening online takes 10 minutes; opening in a branch requires an ID and proof of address.
Monthly fees and how to avoid them
Chase Total Checking, the most common account, charges $12 per month. You waive this fee in two ways: keep a $500 minimum daily balance in the account, or have at least one direct deposit per month of any amount. If you do neither, the $12 fee posts automatically each statement cycle.
Chase Premier Plus Checking charges $25 per month and is designed for customers who want higher interest rates and premium features. You waive this fee by maintaining a $25,000 minimum daily balance across your Chase deposit accounts, or by receiving direct deposit. The higher threshold reflects that this account targets customers with more substantial balances.
Chase Sapphire Checking has no monthly maintenance fee at all. Instead, it requires a $500 minimum daily balance to earn interest on your balance. If your balance drops below $500, you still keep the account open and pay no fee — you simply earn no interest that month.
What you need to bring to open an account
If you open online, you need a valid government-issued ID, your Social Security number, and a current address. The process takes about 10 minutes and you can fund the account immediately or leave it empty.
If you open in a Chase branch, bring the same documents plus a second form of address verification — a utility bill, lease, or recent bank statement with your name and address. A Chase banker will verify your identity, run a ChexSystems check (which screens for banking history issues), and set up the account on the spot. You can deposit money during the appointment or start with zero.
When the monthly fee actually posts
Chase posts the monthly maintenance fee on the last business day of your statement cycle. If you open an account mid-month, your first statement cycle is shorter, and the first fee posts at the end of that shortened cycle — usually within two to three weeks of opening.
If you meet a waiver condition before the fee posts, it will not charge. For example, if you open on the 5th and set up direct deposit by the 20th, and your statement cycle ends on the 30th, the fee will not post because you met the direct deposit waiver before the cycle closed.
Direct deposit as a fee waiver
Direct deposit from an employer, government agency, or pension counts as a waiver for both Total Checking and Premier Plus Checking. The deposit can be any amount — even $1 counts. Chase processes the waiver once the deposit posts to your account, which typically happens one to two business days after your employer or agency sends it.
Transfers from another bank account do not count as direct deposit. Only payroll, Social Security, disability payments, pension deposits, and similar automated deposits from an outside source may have access to.
Minimum balance requirements and how they work
Chase measures your minimum balance as the lowest balance your account reaches on any single day during the statement cycle. If you maintain $500 on Total Checking, the fee waives even if your balance drops to $499 on one day — as long as it was $500 on at least one day during the cycle.
For Premier Plus Checking, Chase looks at your combined balance across all your Chase deposit accounts. If you have a Premier Plus Checking account with $15,000 and a savings account with $10,000, your combined balance is $25,000 and the fee waives. If your combined balance drops to $24,999 on any day, the fee posts.
Overdraft fees and other costs to know
Opening with no money means you have no buffer against overdrafts. Chase charges $35 per overdraft transaction if you spend more than your balance. You can link a savings account or credit card to cover overdrafts, which Chase calls overdraft protection — this prevents the $35 fee but may charge a transfer fee depending on the account type.
Chase also charges $2.50 per out-of-network ATM withdrawal if you use an ATM that is not part of the Chase network. If you do not have a Chase branch nearby, this cost adds up quickly.
Frequently Asked Questions
Can I open a Chase checking account with no money and no job?
Yes. Chase does not require proof of employment or income to open a checking account. You need only a valid ID, Social Security number, and address. However, if you do not receive direct deposit, you will need to maintain a $500 minimum balance on Total Checking to waive the $12 monthly fee.
What happens if I cannot maintain the minimum balance?
The $12 monthly fee posts to your account. You can avoid it by setting up direct deposit instead, or by switching to Sapphire Checking, which has no monthly fee. If the fee causes your balance to drop below zero, you will also owe a $35 overdraft fee.
How long does it take to open an account online?
About 10 minutes. Chase will ask for your ID, Social Security number, address, and employment information. Your account opens immediately and you can start using your debit card within 7 to 10 business days, though you can transfer money in right away.
Does Chase charge to close a checking account?
No. You can close your account anytime with no fee. If you have a negative balance when you close, you owe that amount. Chase will mail you any remaining balance as a check or transfer it to another account you provide.
Can I open more than one checking account at Chase?
Yes, but Chase limits you to one checking account per person. You can have a checking account and a savings account, or multiple savings accounts, but only one checking account under your name.