Chase Premier Checking is a mid-tier account with higher balance requirements and better rewards
Chase Premier Checking is a checking account designed for people who keep larger balances and want better interest rates and fee waivers. It sits between Chase's basic Total Checking and its premium Sapphire accounts. You get a higher APY (annual percentage yield) on your balance, waived monthly maintenance fees if you meet the balance requirement, and some perks like ATM fee reimbursement—but you have to maintain a minimum balance to unlock those benefits.
The account is not a rewards card; it is a place to park money and pay bills. You get a debit card, online banking, and mobile deposits. The real difference from Total Checking is the interest you earn and which fees disappear when you keep enough money in the account.
Key Takeaways
- Premier Checking pays interest on your balance, with the rate varying by region and changing over time.
- You must maintain a minimum balance—typically $10,000 or $15,000 depending on your location—to waive the monthly fee and earn the stated APY.
- If your balance falls below the minimum, you pay a monthly maintenance fee and earn a lower interest rate.
- ATM fees charged by other banks are reimbursed, and you get access to Chase's full ATM network without charge.
- This account works best if you have steady savings or regular deposits and want to earn something on money you keep in checking.
Minimum balance requirements and what happens if you fall short
Chase Premier Checking requires you to keep a minimum balance in the account. That minimum varies by state and region—some areas require $10,000, others $15,000. You can check the exact requirement for your location on Chase's website or by calling a branch.
If your balance stays at or above the minimum, the monthly maintenance fee is waived and you earn the advertised APY. If your balance drops below the minimum on any day of the statement cycle, you pay a monthly fee (typically $25, though this varies) and your interest rate drops to a much lower tier. The fee hits your account automatically at the end of the month.
The minimum applies to the checking account alone—it does not include savings accounts, money market accounts, or other products you hold at Chase. Some people move money between accounts to stay above the threshold; others find the fee cheaper than switching banks.
Interest rates and how they compare to savings accounts
Premier Checking pays interest, but the rate is lower than what you would earn in a Chase savings account or money market account. The APY changes based on the Federal Reserve's rate decisions and varies by region. As of now, rates are in the range of 0.01% to 0.04% for most customers, though this shifts over time.
The real value of Premier Checking is not the interest—it is the combination of interest plus fee waiver plus ATM access. If you need a checking account anyway and you have the balance to maintain it, you earn something rather than nothing. But if you are trying to maximize interest on savings, a dedicated savings account or money market account at Chase or another bank will pay more.
Interest is calculated daily and deposited monthly. You can see your current APY in the account details section of Chase's website or app.
ATM fees and out-of-network access
Chase Premier Checking includes unlimited ATM fee reimbursement. When you use an ATM that is not part of the Chase network and that ATM charges you a fee, Chase refunds it. The reimbursement appears in your account within one to three business days.
You also have free access to Chase's own ATM network, which includes over 16,000 machines nationwide. If you travel or live in an area without many Chase branches, the fee reimbursement can add up. Over a year, that could save you $50 to $100 or more depending on how often you withdraw cash.
The reimbursement is automatic—you do not have to file a claim. Chase tracks the charges and credits them back.
Monthly fees and how to avoid them
The standard monthly maintenance fee for Premier Checking is $25 if you do not meet the minimum balance requirement. That fee is waived if you maintain the required balance throughout the statement cycle.
Some customers waive the fee through other means: if you have a Chase mortgage or certain investment products, you may may have access to for a fee waiver. Chase also occasionally runs promotions that waive fees for new accounts for a set period. Check with your local branch or online to see what waivers apply to you.
If you are paying the fee every month, do the math: $25 per month is $300 per year. At that point, you might be better off moving to Total Checking (which has no minimum balance and no monthly fee) or looking at accounts at other banks.
Who should consider Premier Checking and who should not
Premier Checking makes sense if you have at least $10,000 to $15,000 sitting in checking regularly and you want to earn interest on it without moving money to a separate account. It also works if you travel frequently and value the ATM fee reimbursement, or if you want to consolidate your banking at Chase and do not want to juggle multiple accounts.
It does not make sense if you cannot reliably keep the minimum balance, if you rarely use ATMs outside the Chase network, or if you are looking for high interest rates. In those cases, Total Checking (no minimum, no fee) or a high-yield savings account elsewhere will serve you better.
Premier Checking is also not a credit product—it does not build credit history and does not offer rewards like a credit card does. It is purely a place to keep and spend money.
How to open Premier Checking and what you need
You can open Premier Checking online, by phone, or in person at a Chase branch. Online is usually fastest—you will need a valid government ID, your Social Security number, and an initial deposit (usually $25 minimum to open, though you need to reach the full minimum balance within a set timeframe to avoid the fee).
If you already have a Chase account, you can often open Premier Checking as a second account linked to your existing login. If you are new to Chase, you will set up online banking access during the application process.
The account opens within one to two business days. Your debit card arrives by mail within 7 to 10 business days, though you can use your account for transfers and bill pay immediately.
Frequently Asked Questions
Can I switch from Total Checking to Premier Checking?
Yes. You can open a Premier Checking account as a new account or ask Chase to convert your existing Total Checking account. If you convert, make sure you have the minimum balance ready, or you will pay the monthly fee starting the first month. Opening a new account is often simpler because it keeps your old account open for a transition period.
What if my balance dips below the minimum for one day?
The fee applies if your balance falls below the minimum on any day during the statement cycle. Some people keep a small buffer above the minimum to avoid accidental dips. If you hit the fee once, you can bring the balance back up the next month and the fee will not repeat.
Does Premier Checking come with overdraft protection?
Premier Checking can be linked to a savings account or line of credit for overdraft protection, but you have to set that up separately. Without it, transactions will be declined if you do not have sufficient funds. Overdraft protection transfers money automatically to cover the shortfall, though Chase charges a fee for each transfer.
Can I earn rewards or cash back with Premier Checking?
No. Premier Checking is a checking account, not a rewards account. If you want cash back or points, you need a Chase credit card. Some people use Premier Checking to pay bills and a credit card for purchases to earn rewards on spending.
Is the interest rate may provide to stay the same?
No. Chase changes interest rates based on Federal Reserve decisions and market conditions. Your rate can go up or down, and Chase will notify you of changes. The minimum balance requirement can also change, though Chase typically gives advance notice.