Chase does not require a minimum deposit to open most checking or savings accounts

You can open a Chase checking account, savings account, or money market account with zero dollars. Chase stopped enforcing minimum opening deposits years ago, so the account itself costs nothing to start. However, some accounts do have monthly maintenance fees unless you meet certain conditions — and those conditions often involve keeping money in the account or setting up direct deposit.

The real cost question is not what you need to open the account, but what you need to avoid paying a monthly fee once it is open. That depends on which account type you choose and what you are willing to do with it.

Key Takeaways

  • Chase checking and savings accounts have no minimum opening deposit, so you can start with $0.
  • Most Chase accounts charge a monthly fee ($12 for checking, $5 for savings) unless you meet one waiver condition, such as keeping a minimum balance or setting up direct deposit.
  • The easiest fee waiver for most people is setting up direct deposit of any amount — Chase does not require a minimum direct deposit size.
  • If you cannot meet a fee waiver condition, you can still open the account but will pay the monthly maintenance fee unless you later may have access to.
  • Chase offers student and senior accounts with lower or no monthly fees if you meet age or enrollment requirements.

Monthly fees and how to avoid them

Chase's Chase Total Checking account charges $12 per month, but you can waive that fee in several ways. The most common waiver is setting up direct deposit — any amount counts, even a single dollar per paycheck. You can also waive the fee by maintaining a $500 minimum daily balance, by keeping $250 in a linked Chase savings account, or by being under 18 years old.

Chase's Chase Savings Account charges $5 per month unless you maintain a $300 minimum daily balance or set up a direct deposit of at least $250 per month. Some people find it easier to link their savings to a checking account that already has direct deposit waived — that way both accounts avoid fees.

If you do not meet any waiver condition, the fee still applies. You are not locked out of the account; you simply pay the monthly charge. Many people open an account with zero dollars, then set up direct deposit later and have the fee waived retroactively for the current month.

Student and senior accounts with lower fees

Chase offers Chase Student Checking for people under 25 with a valid student ID. This account has no monthly maintenance fee and no minimum opening deposit. It converts to a regular checking account after you turn 25 or graduate, at which point the standard $12 monthly fee applies unless you meet a waiver condition.

Chase also offers accounts for customers 65 and older through its senior banking program, though the specific account names and fee structures vary by branch and region. Contact your local Chase branch or call 1-800-935-9935 to ask whether your age qualifies you for a reduced-fee account.

What happens if you open with zero dollars

Opening with $0 works fine. Your account number is issued immediately, and you can start using it right away — you can receive direct deposits, set up bill pay, or transfer money in from another bank. The account is fully functional even if empty.

If you do not deposit or transfer money within a certain period and do not set up direct deposit, Chase may close the account for inactivity. The exact timeline varies, but Chase typically closes accounts that show no activity for 12 months or longer. If that happens, you can reopen an account at any time with no penalty.

How to open an account online or in person

You can open a Chase account online at chase.com or on the Chase mobile app without visiting a branch. The process takes about 10 minutes. You will need a valid government ID, your Social Security number, and an initial funding method — a debit card, another bank account, or a wire transfer. If you have no money to deposit, you can still complete the application; just skip the funding step and open with $0.

You can also walk into any Chase branch with your ID and Social Security number and open an account in person. Bring a debit card or checkbook from another bank if you want to fund the account immediately, but it is not required. The teller can set up direct deposit information at the same time if you have it available.

Overdraft fees and other costs to know about

The monthly maintenance fee is separate from overdraft fees. If you spend more than you have in your account, Chase charges an overdraft fee of $35 per transaction (as of the most recent update, though this can change). You can opt out of overdraft coverage to prevent these fees, which means transactions will simply be declined instead of going through.

Chase also charges fees for certain services: wire transfers, stop payments on checks, and replacement debit cards (though the first replacement is usually free). None of these apply unless you use those services, so they are not a cost of opening the account itself.

Moving money into your new account

Once your account is open, you can fund it in several ways. Direct deposit is the easiest for avoiding monthly fees. You can also transfer money from another bank account using Chase's online transfer tool or by providing your new Chase account number to your employer or another financial institution.

If you want to deposit cash or checks, you can do so at any Chase branch, at a Chase ATM (checks only), or through mobile check deposit using the Chase app. Mobile check deposit is free and usually clears within one business day.

Frequently Asked Questions

Can I open a Chase account if I have been denied before?

Chase uses ChexSystems, a banking history report, to screen new accounts. If you were denied in the past, you can request your ChexSystems report for free at chexsystems.com and dispute any errors. You can also call Chase directly at 1-800-935-9935 to ask whether your situation has changed enough to reapply.

What if I do not have a Social Security number?

Chase requires a Social Security number or ITIN (Individual Taxpayer Identification Number) to open an account. If you have an ITIN but no SSN, bring your ITIN documentation to a branch and ask whether they can process your application with it. Policies vary by location.

Do I need a minimum balance to keep the account open?

No. You can keep a $0 balance indefinitely as long as the account shows some activity — a deposit, a transfer, or a direct deposit — at least once every 12 months. If the account sits completely unused for over a year, Chase may close it.

Can I waive the monthly fee by using my debit card a certain number of times?

No. Chase does not waive fees based on debit card usage. The only waivers are direct deposit, minimum balance, linked savings account balance, or age-based (student or senior accounts).

What if I want to open multiple Chase accounts?

You can open more than one account at Chase. Each account has its own monthly fee structure, so you would need to meet a waiver condition for each one separately — or pay the fee for whichever accounts do not may have access to.