Chase charges monthly service fees on most checking and savings accounts, but the amount depends on the account type and whether you meet certain conditions

Chase's most common checking account, the Chase Total Checking, has a $12 monthly service fee. However, you can waive it by maintaining a minimum daily balance of $500, setting up direct deposit, or keeping a linked savings account with at least $500 in it. If none of those conditions explore, you pay the fee.

Savings accounts also carry monthly fees. The Chase Savings Account charges $5 per month unless you maintain a $300 minimum daily balance. Some Chase accounts have no monthly fee at all—the Chase find Banking account and Chase High School Checking are both free—but they come with restrictions on how you can use them.

The fee structure matters because it determines whether you actually pay anything. A $12 monthly fee adds up to $144 per year if you never waive it. Most people with direct deposit or a linked savings account never see the charge.

Key Takeaways

  • Chase Total Checking costs $12 per month but the fee disappears if you maintain a $500 minimum balance, set up direct deposit, or link a savings account with $500 in it.
  • Chase Savings Account charges $5 monthly unless you keep a $300 minimum daily balance in that account.
  • Some Chase accounts like find Banking and High School Checking have no monthly fee, but they have limits on withdrawals or are designed for specific age groups.
  • The fee applies each month you do not meet the waiver conditions, so checking your account setup now can save you hundreds per year.

How Chase calculates the minimum balance requirement

Chase uses the minimum daily balance method, not an average. This means you must keep the full amount in the account every single day of the month. If you have $500 on the 1st and drop to $499 on the 15th, you do not meet the requirement for that month and the fee applies.

The balance is checked at the end of each business day. Deposits and withdrawals both count toward whether you hit the threshold. If you are close to the minimum, a single withdrawal can trigger the fee for the entire month.

Direct deposit is often easier to manage than maintaining a balance. If your paycheck hits the account automatically, the fee waiver activates regardless of how much money you keep in the account. This is why direct deposit is the most common way Chase customers avoid the monthly charge.

Accounts with no monthly service fee

Chase find Banking has no monthly fee and is designed for people building or rebuilding credit. It comes with a debit card and online access, but you cannot write checks and there are limits on how many times you can withdraw money per month. It is a real checking account, not a savings account, but the restrictions make it less convenient for everyday use.

Chase High School Checking is free and aimed at teenagers. Parents can monitor the account and set spending limits. Once the account holder turns 18, it converts to a standard Chase checking account, which then carries the $12 monthly fee unless you meet a waiver condition.

Chase Money Market Account has no monthly fee if you maintain a $25,000 minimum balance. This account earns interest and functions as both a checking and savings product, but the high balance requirement makes it realistic only for people with substantial savings.

When the fee actually appears on your statement

Chase charges the monthly service fee on the last business day of each month. You will see it listed as "Monthly Service Fee" or "Monthly Maintenance Fee" in your transaction history. The charge comes out of your available balance, so if you are close to zero, the fee can push you into overdraft.

If you overdraft because of the monthly fee, Chase will also charge an overdraft fee on top of it. This can create a cascade: the $12 service fee triggers an overdraft, then a $35 overdraft fee applies, and if you do not deposit money quickly, additional overdraft fees can follow. Checking your account setup before the end of the month prevents this.

The fee does not appear on paper statements because Chase does not send those by default. You see it only in online banking or the Chase mobile app. If you do not check your account regularly, you might not notice the charge until several months have passed.

How to stop paying the monthly fee

The simplest route is to set up direct deposit. Contact your employer's payroll department and provide your Chase routing number and account number. Once the first direct deposit posts, the fee waiver becomes active. You do not need to maintain any balance after that.

If direct deposit is not an option, maintain the minimum balance. For Chase Total Checking, that is $500. For Chase Savings, it is $300. The balance must be there every day, so this works best if you have money you are not planning to spend that month.

Linking a savings account with $500 in it also waives the checking fee. You do not need to keep the $500 in the checking account itself—it can sit in the linked savings account. This is useful if you want to keep your spending money separate from your emergency fund.

If none of these options work for you, consider whether a different bank's account might fit better. Many online banks and credit unions offer free checking with no minimum balance and no direct deposit requirement. The trade-off is usually fewer physical branches and ATMs.

What happens if you close your account

Chase does not charge a fee to close an account. You can close it online, by phone, or in person at a branch. If you have a balance, Chase will send you a check or transfer the money to another account you specify.

If you close the account while a monthly fee is pending, Chase will still charge it. The fee applies based on whether you met the waiver conditions during that month, regardless of when you close the account. Close before the last business day of the month if you want to avoid the final charge.

Some people close their Chase account specifically to stop paying the monthly fee, then move to a bank with no monthly charges. This is a valid option if you do not use Chase's branches or services regularly.

Frequently Asked Questions

Can I waive the fee by doing multiple things, like having both direct deposit and a minimum balance?

Yes, but you only need one method. If you have direct deposit set up, the fee is waived even if your balance drops below $500. You do not get a discount for meeting multiple conditions—the fee either applies or it does not.

Does the $500 minimum balance need to be in checking, or can it be in savings?

For Chase Total Checking, you can keep the $500 in a linked Chase savings account. The balance does not have to be in the checking account itself. For Chase Savings Account, the $300 minimum must be in that specific savings account.

What if I have a very small balance and the monthly fee pushes me into overdraft?

Chase will charge both the $12 monthly service fee and a $35 overdraft fee if the fee causes your balance to go negative. You can dispute the overdraft fee if you believe it was caused by the service fee, but the service fee itself will not be refunded if you did not meet a waiver condition.

Does direct deposit have to be from my employer, or can it be from unemployment or Social Security?

Direct deposit from any source counts toward the fee waiver, including unemployment benefits, Social Security, tax refunds, and regular paychecks. The requirement is that money be deposited electronically into the account, not the source of the money.

If I meet the waiver condition partway through the month, does the fee still explore?

Yes. Chase determines whether you meet the waiver condition based on the entire month. If you set up direct deposit on the 20th, the fee for that month still applies because you did not meet the condition for the full month. The waiver takes effect the following month.