Chase does not charge a fee to open most checking or savings accounts
You can open a Chase checking account, savings account, or money market account without paying an opening fee. Chase does not require a minimum deposit to start the account either, though some account types have minimum balance requirements once the account is open.
The cost to you depends on which account you choose and how you use it. Some accounts charge monthly maintenance fees if you do not meet certain conditions—like keeping a minimum balance or setting up direct deposit. Others waive fees entirely. Overdraft fees, ATM fees, and wire transfer fees may apply depending on your actions, but these are separate from the account opening itself.
Key Takeaways
- Opening a Chase account costs nothing; there is no application or setup fee.
- Monthly maintenance fees range from $0 to $15 depending on the account type and whether you meet fee-waiver conditions.
- Chase waives monthly fees on most checking accounts if you maintain a minimum balance, set up direct deposit, or keep a linked savings account.
- Overdraft fees, out-of-network ATM fees, and other transaction fees may apply after you open the account, but these are not opening costs.
- You can open an account online, by phone, or in a branch; online is the fastest route and takes about 10 minutes.
Monthly maintenance fees and how to avoid them
Chase charges a monthly maintenance fee on most checking accounts, but you can waive it by meeting one of several conditions. For the Chase Total Checking account, the fee is $12 per month, but Chase waives it if you maintain a minimum balance of $500, set up direct deposit of any amount, or link a Chase savings account to your checking account.
The Chase Sapphire Checking account charges $25 per month and waives the fee only if you maintain a $20,000 minimum balance or set up a direct deposit of at least $500 per month. This account is designed for customers who want premium features like higher interest rates and concierge services.
Chase savings accounts typically charge $5 per month in maintenance fees, waived if you maintain a $300 minimum balance. Money market accounts may charge $25 per month, waived with a $2,500 minimum balance. If you do not meet the waiver conditions, the fee is charged automatically each month.
What happens after you open the account
Once your account is open, you will receive a debit card in the mail within 7 to 10 business days. You can use your account number and routing number to set up direct deposit or bill payments immediately, even before the card arrives. Chase provides online and mobile banking access right away.
Overdraft fees apply if you spend more money than you have in your account. Chase charges $35 per overdraft transaction, up to three times per day. You can opt out of overdraft protection, which means transactions will be declined rather than charged a fee, but this prevents you from going negative.
ATM fees apply if you use an out-of-network ATM. Chase does not charge you to use its own ATMs, but other banks' ATMs typically charge $2 to $3 per withdrawal. Wire transfer fees range from $15 to $30 depending on whether the wire is domestic or international.
How to open an account online, by phone, or in person
Opening online is the fastest method. Go to Chase.com, click "Open an Account," and select the account type you want. You will need your Social Security number, date of birth, address, and a valid government ID. The process takes about 10 minutes, and your account opens immediately. You can fund it right away by linking an external bank account or providing a check number.
You can also call Chase at 1-800-935-9935 to open an account by phone. A representative will walk you through the same information and can answer questions about which account fits your needs. This takes 15 to 20 minutes.
Visiting a Chase branch in person lets you open an account and deposit cash the same day. Bring a valid government ID and your Social Security number. The branch representative can explain account features and help you choose the right one for your situation. This method takes 20 to 30 minutes depending on branch traffic.
Minimum balance requirements by account type
| Account Type | Monthly Fee | Minimum Balance to Waive Fee | Other Fee-Waiver Options |
|---|---|---|---|
| Chase Total Checking | $12 | $500 | Direct deposit or linked savings account |
| Chase Sapphire Checking | $25 | $20,000 | Direct deposit of $500+ per month |
| Chase Savings Account | $5 | $300 | None |
| Chase Money Market Account | $25 | $2,500 | None |
What you need to bring or provide
To open a Chase account, you must provide your full name, date of birth, Social Security number, and current address. Chase verifies this information against ChexSystems, a banking history database, to check for past account problems or fraud.
If you are opening an account in person, bring a valid government-issued ID such as a driver's license, passport, or state ID card. If you are opening online or by phone, you will upload or verbally confirm your ID information.
You do not need an initial deposit to open the account, but you will need to fund it within a certain timeframe to activate it. You can link an external bank account to transfer money, deposit a check using mobile deposit, or visit a branch to deposit cash.
Frequently Asked Questions
Can I open a Chase account if I have been denied before?
Chase may deny an account if ChexSystems shows unpaid overdrafts, fraud, or repeated account closures. If you were denied, contact Chase to ask why. Some issues resolve over time, and you may be able to reapply after 12 to 24 months. You can also ask about second-chance checking accounts, though Chase does not formally market one.
Do I have to keep a minimum balance all the time?
No. The minimum balance requirement applies only to waive the monthly fee. If your balance drops below the minimum, you will be charged the monthly fee that month, but your account stays open. Once your balance rises above the minimum again, the fee waiver applies the next month.
What if I want to close my account right after opening it?
You can close a Chase account anytime without penalty. There is no early closure fee. Simply visit a branch, call 1-800-935-9935, or use online banking to request closure. Chase will send any remaining balance to you by check or transfer it to another account.
Can I open multiple Chase accounts at once?
Yes. You can open a checking account and a savings account in the same application. Some customers open multiple accounts to separate spending from savings or to earn interest on different balances. Each account has its own monthly fee structure and minimum balance requirement.
How long does it take for my debit card to arrive?
Chase typically mails debit cards within 7 to 10 business days of account opening. You can use your account number and routing number to set up direct deposit or bill payments before the card arrives. If you need a card faster, visit a Chase branch and ask about expedited card options.