Chase checking accounts have no monthly fee and no minimum opening deposit

You can open a Chase checking account with zero dollars. Chase does not require a minimum deposit to start the account, and most of their checking products have no monthly maintenance fee. The only cost you might face is an overdraft fee if you spend more than your balance — that fee is $35 per overdraft transaction as of now, though this can change.

The account itself is free to open and free to maintain. You choose which checking product fits your situation, fund it with whatever amount you have, and start using it immediately. If you never overdraft, you never pay Chase a dime for the account.

Key Takeaways

  • Chase checking accounts require no minimum deposit and no monthly fee, so opening one costs nothing upfront.
  • Overdraft fees are $35 per transaction if you spend more than your balance, but you can opt out of overdraft coverage to avoid these charges.
  • You can open an account online, by phone, or in a branch, and funding it is separate from opening it — you can open with $0 and deposit money later.
  • Chase offers multiple checking products (Chase Total Checking, Chase Premier Plus Checking, Chase Sapphire Checking) with different features, but all have zero opening cost.

Which Chase checking account to choose

Chase offers three main checking products for personal customers: Chase Total Checking, Chase Premier Plus Checking, and Chase Sapphire Checking. Each one is free to open and free to maintain, but they differ in what you get for using them.

Chase Total Checking is the most common option. It has no monthly fee, no minimum balance, and no opening deposit. You get a debit card, online banking, and mobile check deposit. If you maintain a minimum balance of $500 or link a may have access to savings account, you earn a small amount of interest on your checking balance.

Chase Premier Plus Checking is designed for customers who want higher interest rates and more perks. It also has no monthly fee and no opening deposit, but it requires a higher minimum balance ($25,000) to avoid a fee and to earn the advertised interest rate. If your balance drops below that, you pay $25 per month.

Chase Sapphire Checking is for customers who also have a Chase credit card. It has no monthly fee, no minimum balance, and no opening deposit. You earn higher interest rates on your checking balance and get other perks tied to the Sapphire credit card ecosystem.

How to open an account without going to a branch

You can open a Chase checking account online in about 10 minutes. Go to Chase.com, select the account type you want, and follow the application. You will need to provide your Social Security number, date of birth, address, and employment information. Chase will run a soft credit check and verify your identity.

Once you are approved, you can fund the account immediately using a bank transfer from another bank, or you can leave it unfunded and deposit money later. If you transfer from another bank, that money usually arrives within one to three business days. You do not have to deposit anything on day one — the account opens whether or not you fund it.

You can also open an account by phone at 1-800-935-9935 or in any Chase branch. The phone process takes about 15 minutes. In a branch, a banker will walk you through it and can answer questions about which account type makes sense for you.

Overdraft fees and how to avoid them

The main cost you might face after opening is an overdraft fee. If you spend more money than you have in your account, Chase charges $35 per transaction that overdrafts. If you overdraft multiple times in one day, you can be charged multiple fees — up to a maximum of $105 per day (three overdrafts).

You can prevent overdraft fees by opting out of overdraft coverage. When you do this, Chase will decline transactions that would overdraft your account instead of charging you a fee. Your debit card will simply be declined at the register, and the transaction will not go through. You can change this setting anytime in your Chase mobile app or online banking.

Another way to avoid overdrafts is to link a savings account to your checking account. If you overdraft, Chase can automatically transfer money from savings to cover it. This transfer is free, so you avoid the $35 fee. You control how much gets transferred and can turn this feature off anytime.

What you need to bring or provide

To open a Chase checking account online, you need a valid government-issued ID (driver's license, passport, or state ID), your Social Security number, and a current address. You do not need to bring anything physical — Chase verifies your identity digitally during the application.

If you open in a branch, bring your ID and Social Security number. If you want to fund the account immediately with a transfer from another bank, have that bank's routing number and your account number ready. If you are transferring from a different bank, you can provide those details during the application or after the account opens.

Chase will ask about your employment and income, but this is optional information. You can skip it or provide it — either way, the account opens.

Funding your account after it opens

You do not have to fund your account on the day you open it. The account is live and ready to use whether it has $0 or $1,000 in it. When you are ready to deposit money, you have several options: transfer from another bank, deposit a check using mobile check deposit, visit a Chase ATM and deposit cash, or go to a branch and deposit cash or a check.

Bank transfers from another bank usually take one to three business days. Mobile check deposit (taking a photo of a check through the Chase app) typically clears within one business day. Cash deposits at a Chase ATM or branch are available immediately.

If you open online and want to fund it right away, you can initiate a transfer during the application process. Chase will give you the account number and routing number before you finish, so you can set up the transfer immediately.

Frequently Asked Questions

Do I have to deposit money when I open the account?

No. You can open a Chase checking account with zero dollars and fund it later. The account opens and is ready to use whether or not you deposit anything on day one. You can transfer money, deposit a check, or add cash whenever you are ready.

What happens if I close the account right after opening it?

Chase does not charge a fee to close an account. If you close it within a few days, you pay nothing. However, if you close an account and reopen one within a short time (usually 90 days), Chase may flag the activity. There is no penalty, but they may ask why you closed and reopened.

Can I open an account if I have been denied by ChexSystems?

Chase uses ChexSystems to check your banking history. If you have unpaid overdrafts or fraud on record, Chase may deny your application. You can request your ChexSystems report to see what is on file. Some people in this situation open accounts at banks that do not use ChexSystems, then reapply to Chase after the issue is resolved.

Is there a fee if my balance drops below zero?

Yes. If you overdraft, you are charged $35 per transaction. If your balance goes negative and stays negative, you are not charged a monthly fee for that — only the overdraft fee for the transaction that caused it. However, if you have Premier Plus Checking and your balance drops below $25,000, you are charged $25 per month.

Can I open multiple Chase checking accounts?

Yes. Chase allows you to open more than one checking account. Some people open one for bills and one for savings, or one for work income and one for side income. There is no limit on the number of accounts you can have, and each one is free to open and maintain.