Yes, you can downgrade a Chase savings or checking account to a different account type
Chase lets you change from one account type to another — for example, from a premium checking account to a basic one, or from a savings account with higher fees to one with lower ones. You do not have to close the account and open a new one. The process is straightforward and takes a few minutes, either online, by phone, or in a branch.
The main reason people downgrade is to avoid monthly fees. Chase charges maintenance fees on some accounts if you do not meet balance requirements or set up direct deposit. A downgrade moves you to an account with lower or no fees, which can save you money each month. Your money stays in the same account, your account number does not change, and any automatic payments or direct deposits continue without interruption.
Key Takeaways
- You can downgrade to a different Chase account type without closing your current account or losing your account number.
- Downgrades are free and take effect when ready or within one business day, depending on how you request the change.
- You can downgrade online through Chase.com, by calling Chase customer service, or by visiting a branch in person.
- After you downgrade, your new account will have different fees, balance requirements, and features — review the account details before confirming the change.
How to downgrade online through Chase.com
Log into your Chase account on Chase.com or the Chase mobile app. Go to your account settings or account details — the exact location varies slightly depending on whether you are downgrading a checking or savings account, but both are under the account management section. Look for an option that says "Change account type," "Downgrade account," or "Account options."
Click that option and select the account type you want to switch to from the list Chase shows you. Review the new account's fees, minimum balance requirements, and features to make sure it is what you want. Confirm the change, and it will take effect when ready or within one business day. If you cannot find the option online, or if Chase does not let you downgrade through the app (which sometimes happens with certain account combinations), call customer service or visit a branch instead.
How to downgrade by phone or in a branch
Call Chase customer service at the number on the back of your debit card. Tell the representative you want to downgrade your account and which account type you want to switch to. They will confirm your identity, explain the new account's terms, and process the change over the phone. The downgrade takes effect when ready, and you will receive confirmation via email or mail.
You can also visit a Chase branch in person. Bring your debit card or account number. A banker will walk you through the available account types, explain the differences, and make the change while you are there. This method is useful if you have questions about which account fits your situation best or if you want to discuss your banking needs before deciding.
What happens to your money and account number when you downgrade
Your money stays in the account. The balance does not move, and you keep the same account number. Only the account type and its associated fees and features change. If you have automatic payments or direct deposits set up, they continue without interruption because the account itself remains open and active.
If your current account earns interest on the balance (some Chase savings accounts do), check whether the new account type earns interest at a different rate. The interest rate may be lower on a basic savings account, so your earnings could change. Ask Chase about the interest rate on the new account type before you confirm the downgrade.
Common reasons to downgrade and what to expect
The most common reason is to avoid monthly maintenance fees. For example, Chase Total Checking charges a $12 monthly fee unless you meet one of several requirements — like keeping a $1,500 minimum balance or setting up direct deposit. If you cannot meet those requirements, downgrading to Chase Basic Checking (which has no monthly fee) saves you money each month without affecting your ability to use the account.
Another reason is to simplify your accounts. If you opened a premium account for a specific feature you no longer use, downgrading to a simpler account with fewer features and lower fees makes sense. Some people downgrade savings accounts to move money to a higher-yield savings account elsewhere, but keep a small Chase savings account for convenience. In that case, downgrading to Chase Basic Savings (if available in your region) reduces the monthly fee while you keep the account open.
What to check before you downgrade
Review the new account's monthly fee, minimum balance requirement, and interest rate (if it is a savings account). Make sure you understand what you are switching to so there are no surprises after the change. Check whether any benefits you currently use will disappear — for example, some premium checking accounts come with travel insurance, purchase protection, or other perks that a basic account may not have.
If you have linked accounts — for example, a checking account linked to a savings account for overdraft protection — confirm that the downgrade does not affect the link. In most cases it does not, but it is worth checking with Chase before you make the change. Ask about any other services or features tied to your current account type that might be affected.
If you want to upgrade instead of downgrade
The same process works in reverse. You can upgrade from a basic account to a premium one if you want additional features or benefits. Call Chase, visit a branch, or use the online account settings to request an upgrade. There is no fee to change account types in either direction, and the change takes effect the same way as a downgrade.
You can also switch back and forth between account types as your needs change. If you downgrade now and later decide you want the features of a premium account, you can upgrade again without any penalty or waiting period.
Frequently Asked Questions
Will downgrading hurt my credit score?
No. Downgrading a Chase account is an internal change to your account type and does not affect your credit report or score. Credit bureaus do not see account downgrades.
Can I downgrade if I have an overdraft or negative balance?
Chase usually allows downgrades even if your account is negative, but you will still owe the negative amount. Contact Chase before downgrading to confirm your specific situation, since policies can vary by account type and region.
What if I downgrade and then want to upgrade again later?
You can upgrade back to a premium account at any time using the same methods — online, by phone, or in a branch. There is no waiting period or penalty for switching back and forth between account types.
Does downgrading close my old account?
No. Downgrading changes the account type but keeps the account open. Your account number, transaction history, and any linked services remain the same.
Can I downgrade a joint account?
Yes, but both account holders may need to agree to the change. Contact Chase to confirm the process for your specific joint account, as requirements can vary.