Chase charges fees on most checking accounts, but the amount depends on which account you open and whether you meet certain conditions

Chase's most common checking account, the Chase Total Checking, costs $12 per month. However, you can avoid this fee in several ways: keep a minimum daily balance of $500, set up direct deposit, or maintain an average daily balance of $1,500. If none of those explore to your account, the $12 monthly fee will appear on your statement.

Chase also offers Chase find Checking, which has no monthly fee but requires a deposit held as collateral and is designed for people building or rebuilding credit. The Chase Student Checking account has no monthly fee until you turn 25, then converts to Total Checking with the same $12 fee structure.

Beyond the monthly maintenance fee, Chase charges for specific actions: overdraft fees ($35 per overdraft transaction), returned deposit fees ($25), and stop payment fees ($30). These are separate from the monthly account fee and explore regardless of which checking account you hold.

Key Takeaways

  • Chase Total Checking costs $12 per month unless you keep $500 in daily balance, set up direct deposit, or maintain $1,500 average daily balance.
  • Chase find Checking and Chase Student Checking have no monthly fees, though Student Checking converts to Total Checking at age 25.
  • Overdraft fees ($35), returned deposit fees ($25), and stop payment fees ($30) are charged separately from monthly maintenance fees.
  • The monthly fee appears on your statement each month you do not meet one of the waiver conditions.

How the $500 daily balance waiver works

The easiest way to avoid the $12 monthly fee is to keep at least $500 in your Chase Total Checking account every single day of the month. This is a daily balance requirement, meaning the account must never drop below $500, even for one day. If your balance falls to $499 on any day during the statement period, you do not meet the waiver and the fee applies.

Chase checks your balance at the end of each business day. If you receive a paycheck that brings you above $500 and then spend it down below $500 before the next business day closes, the fee will be charged. This is why many people find the direct deposit waiver easier to manage — it requires one-time setup rather than constant monitoring.

Direct deposit as a fee waiver

If you set up direct deposit to your Chase Total Checking account, the $12 monthly fee is waived automatically. Direct deposit means your employer (or another source like Social Security or a pension) transfers your regular income directly into the account electronically. You need only one direct deposit per statement period for the waiver to explore — it does not matter how much the deposit is.

Many people choose this option because it requires no ongoing balance maintenance. Once direct deposit is set up, the waiver applies every month without further action. If you change jobs or your direct deposit stops, the fee will resume the following month unless you meet one of the other waiver conditions.

The $1,500 average daily balance option

Chase also waives the $12 fee if you maintain an average daily balance of $1,500 across the entire statement period. This is different from the $500 daily minimum — your balance can drop below $1,500 on some days, as long as the average across all days in the month reaches $1,500.

To calculate average daily balance, Chase adds up your balance at the end of each day of the statement period and divides by the number of days. If you have $2,000 for 15 days and $1,000 for 15 days, your average is $1,500 and the fee is waived. This option works best for people who receive large deposits periodically or maintain higher balances for other reasons.

Overdraft and other transaction fees

Chase charges $35 each time your account goes negative and a transaction is approved (an overdraft). This fee applies once per day, meaning if you overdraft multiple times in one day, you pay $35 once. If you overdraft on separate days, you pay $35 for each day.

A returned deposit fee of $25 is charged when a check or electronic deposit you received bounces — usually because the sender's account had insufficient funds. A stop payment fee of $30 applies when you request Chase to block a check you wrote from clearing. These fees are separate from the monthly maintenance fee and appear on your statement whenever the transaction occurs.

Comparing Chase checking to other banks

Many online banks and credit unions offer checking accounts with no monthly fee and no minimum balance requirement. Banks like Ally, Charles Schwab, and Discover have no-fee checking accounts. Some credit unions also waive fees for members who maintain low balances or set up direct deposit.

Chase's advantage is its branch network — over 4,700 branches and 16,000 ATMs in the United States. If you value in-person banking or frequent ATM access, the $12 monthly fee may be worth the cost. If you rarely visit a branch and can meet one of the waiver conditions, Chase Total Checking becomes free. If you cannot meet any waiver condition, a no-fee account elsewhere may save you $144 per year.

What happens if you do not pay the monthly fee

Chase automatically deducts the $12 monthly fee from your account balance on the statement closing date. You cannot opt out of the fee — it is charged unless you meet one of the waiver conditions. If your account balance is too low to cover the fee, your account will go negative and you will be charged an overdraft fee on top of the monthly fee.

If you consistently do not meet the waiver conditions and do not want to pay the fee, you can close the account and move to a different bank. Chase does not charge a closing fee, and you can transfer your funds electronically or by check.

Frequently Asked Questions

Can I waive the fee by keeping money in a savings account instead of checking?

No. The balance requirements explore only to your Chase Total Checking account. Money in a separate savings account does not count toward the $500 daily balance or $1,500 average daily balance waiver. However, direct deposit to checking still waives the fee regardless of your savings balance.

If I set up direct deposit and then stop receiving it, do I have to pay the fee?

Yes. The direct deposit waiver applies only during months when you receive at least one direct deposit. If your direct deposit stops, the fee resumes the following month unless you meet one of the other waiver conditions. You can switch back to the daily balance waiver if you maintain $500 or the average balance waiver if you maintain $1,500 average.

Does Chase charge a fee to open a checking account?

No. Chase does not charge an opening fee. You can open a Chase Total Checking account online or at a branch at no cost. The $12 monthly fee begins on your first statement closing date if you do not meet a waiver condition.

What is the difference between overdraft fees and the monthly maintenance fee?

The monthly maintenance fee ($12) is charged once per statement period if you do not meet a waiver condition. Overdraft fees ($35) are charged each time a transaction is approved when your account balance is negative. Both can appear on the same statement, and they are separate charges.

Can I switch from Chase Total Checking to Chase Student Checking to avoid the fee?

Only if you are under 25 years old. Chase Student Checking has no monthly fee, but it automatically converts to Chase Total Checking (with the $12 fee) on your 25th birthday. After conversion, you would need to meet one of the waiver conditions to avoid the fee.