Chase does not charge a fee to open a checking account, but you will need to meet their minimum opening deposit requirement and maintain a balance or set up direct deposit to avoid monthly maintenance fees.
When you open a Chase checking account in person, online, or by phone, Chase does not ask for money just to create the account. However, most Chase checking products require an opening deposit — typically $25 to $100 depending on the account type — which comes from your own funds, not a separate fee. Once the account is open, you face a monthly maintenance charge unless you meet one of Chase's fee-waiver conditions.
The most common way to avoid the monthly fee is to set up direct deposit of your paycheck or other regular income. Some Chase accounts also waive the fee if you maintain a minimum daily balance, though that balance varies by account. Understanding which account type fits your situation and which fee waiver you can actually meet will determine whether your account truly costs nothing to maintain.
Key Takeaways
- Chase checking accounts have no opening fee, but most require an opening deposit of $25 to $100 that you provide yourself.
- Monthly maintenance fees range from $12 to $15 depending on account type, but are waived if you set up direct deposit or maintain a minimum balance.
- Chase Total Checking and Chase Premier Plus Checking are the two most common accounts, with different balance requirements and fee structures.
- You can open an account online in minutes, but the account will not be fully active until Chase verifies your identity and funds clear.
Opening deposit requirements by account type
Chase Total Checking requires a $25 opening deposit. Chase Premier Plus Checking requires a $100 opening deposit. Both amounts must come from your own funds — a bank transfer, debit card, or cash deposit at a Chase branch. This is not a fee; it becomes part of your account balance and you can withdraw it once the account is open.
If you do not have $25 or $100 available at the moment you want to open the account, you cannot complete the opening online or by phone. You would need to wait until you have the deposit amount, or visit a branch and ask whether they can process the account with a smaller initial deposit (some branches may make exceptions, but this is not may provide).
Monthly maintenance fees and how to avoid them
Chase Total Checking carries a $12 monthly maintenance fee. Chase Premier Plus Checking carries a $15 monthly maintenance fee. Both fees are waived automatically if you meet any one of these conditions: set up a direct deposit of at least $500 per month, maintain a minimum daily balance of $1,500 (for Total Checking) or $2,500 (for Premier Plus), or maintain an average daily balance of $1,000 (for Total Checking) or $1,500 (for Premier Plus) during the statement period.
Direct deposit is the easiest path for most people because it requires no ongoing balance management. If your employer or benefits provider sends your paycheck or income directly to your Chase account, the fee disappears. If you do not receive regular direct deposits, you will need to keep the minimum balance in the account at all times, or the fee will post to your account each month.
What happens if you cannot meet fee-waiver conditions
If you open a Chase checking account but do not set up direct deposit and cannot maintain the minimum balance, Chase will charge you the monthly maintenance fee every month. The fee posts automatically on a set day each statement cycle. You can close the account at any time without penalty, but the fee will still apply to the month in which you close it.
Some people open a Chase account specifically to use their debit card or online bill pay, then close it after a few months. If you do this, you will pay the monthly fee for each month the account was open. There is no way to retroactively waive fees that have already posted, though you can call Chase and ask them to reverse one or two fees as a courtesy — they sometimes do, but it is not may provide.
Online account opening versus in-branch opening
Opening online through Chase.com takes about 10 minutes and requires your Social Security number, date of birth, address, and a valid government ID. You will also need to provide the opening deposit amount using a debit card, bank transfer, or another Chase account you already own. The account opens immediately, but you cannot use the debit card or access funds until Chase completes identity verification, which usually takes one business day.
Opening in a Chase branch takes longer but gives you immediate access to your funds and a physical debit card. The banker will verify your identity in person and can answer questions about which account type suits your needs. If you do not have the full opening deposit available at that moment, a branch banker may be able to work with you, though this is at their discretion and not may provide.
Additional costs to know about
The opening deposit and monthly maintenance fee are not the only costs associated with a Chase checking account. Out-of-network ATM withdrawals cost $3 per transaction (Chase reimburses some of these fees if you maintain certain balances or account types, but not all). Overdraft fees are $35 per transaction if you spend more than your balance. Wire transfers cost $15 for outgoing domestic wires and $15 for incoming wires.
Cashier's checks cost $10 each. Stop payment requests cost $30. If you need to replace a lost or stolen debit card, there is no fee, but expedited shipping costs extra. None of these are automatic charges — they only occur if you use these services — but they are worth knowing about if you plan to use your Chase account for specific transactions.
Comparing Chase to other banks' free checking options
Many online banks and credit unions offer checking accounts with no monthly maintenance fee and no minimum balance requirement. Ally Bank, Charles Schwab, and Discover Bank all offer checking accounts with no monthly fee and no opening deposit. Some credit unions offer free checking with no strings attached. The trade-off is that these institutions have fewer physical branches and ATMs than Chase, so if you need in-person banking or frequent cash withdrawals, the convenience of Chase's branch network may be worth the monthly fee.
If you already bank with Chase for savings or have a mortgage there, opening a checking account may give you access to relationship discounts or combined account benefits. Check your current Chase accounts to see whether opening a checking account would lower your overall banking costs.
Frequently Asked Questions
Can I open a Chase checking account with less than the minimum opening deposit?
Online and by phone, no — you must have the full opening deposit amount available. At a branch, you can ask the banker whether they will make an exception, but this is not may provide. Some branches may allow you to open with less, but you cannot count on it.
What if I set up direct deposit after I open the account?
The monthly maintenance fee will continue to post until direct deposit actually hits your account. Once your first direct deposit arrives, the fee waiver takes effect. You can call Chase to ask them to reverse fees that posted before your first direct deposit, but they are not required to do so.
Can I transfer money from another bank to cover the opening deposit?
Yes. You can use a bank transfer, debit card, or wire transfer to fund the opening deposit. If you use a debit card, the funds post immediately. If you use a bank transfer, it may take one to three business days.
Do I have to keep the opening deposit in the account forever?
No. Once the account is open and verified, you can withdraw the opening deposit at any time. It is your money and becomes part of your account balance immediately.
What happens if my account balance drops below the minimum?
If you are relying on the minimum balance to waive the monthly fee and your balance falls below that amount, the fee will post at the end of your statement cycle. You can bring the balance back up, but the fee for that month will still apply.