Chase Total Checking does not come with a savings account
Chase Total Checking is a single checking account. It does not bundle a savings account with it, and opening one does not automatically create a savings account for you. If you want both a checking and savings account at Chase, you open them as separate accounts — you choose each one independently.
This matters because some banks do package checking and savings together, or offer discounts when you hold both. Chase does not work that way. You can certainly open a Chase savings account alongside your checking account, but you have to do it as a separate step, and each account has its own terms, fees, and interest rate.
Key Takeaways
- Chase Total Checking is a checking account only and does not include a linked savings account.
- You can open a Chase savings account separately if you want one, but it is a distinct account with different features and interest rates.
- Chase Total Checking has a monthly maintenance fee unless you meet one of several ways to waive it, such as maintaining a minimum balance or setting up direct deposit.
- The interest rate on a Chase savings account is separate from your checking account and changes based on market conditions.
How Chase Total Checking works on its own
Chase Total Checking gives you a checking account with a debit card, online banking, and access to Chase's ATM network. You can write checks, set up bill pay, and receive direct deposits. The account has a monthly maintenance fee, but Chase waives it if you maintain a minimum balance (which varies by region), set up direct deposit, or meet other conditions Chase offers from time to time.
The account does not earn interest on the money you keep in it. Checking accounts at most banks, including Chase, are designed for frequent deposits and withdrawals, not for saving money over time. That is why a separate savings account exists — it earns interest, even if the rate is small.
Opening a Chase savings account alongside checking
If you want a savings account, you open it as a separate product. You can do this at the same time you open checking, or later. When you open a Chase savings account, you choose which type: a regular savings account or a money market account. Each has a different interest rate and different rules about how often you can withdraw money.
The two accounts are linked in your online banking — you can see both when you log in and transfer money between them when ready. But they are legally separate accounts with separate account numbers. Your checking account balance does not affect your savings account, and vice versa.
Interest rates and fees on Chase savings accounts
Chase savings accounts earn interest, but the rate is set by Chase and changes based on what the Federal Reserve does with interest rates. The rate you see today will not be the same six months from now. Chase publishes current rates on their website, and you can compare them to other banks if you want to shop around.
Chase savings accounts also have a monthly maintenance fee, though Chase waives it if you maintain a minimum balance (usually $300) or meet other conditions. Some savings accounts have limits on how many times per month you can withdraw money without a fee, though those rules have become less common in recent years.
Why banks separate checking and savings
Checking accounts are built for movement — you deposit your paycheck, pay bills, and withdraw cash. Savings accounts are built for sitting still — you deposit money and leave it there to earn interest. Banks charge different fees and offer different features because the two accounts serve different purposes.
By keeping them separate, you can see at a glance how much money you are spending (checking) and how much you are saving (savings). Many people find this separation helpful because it makes it harder to accidentally spend money they meant to keep. If you want the accounts to feel connected, you can set up automatic transfers from checking to savings each payday.
Alternatives if you want checking and savings bundled together
Some banks do offer checking and savings as a package, or give you a discount if you hold both. If bundling is important to you, you can compare what other banks offer — but most large banks, including Chase, treat checking and savings as separate products you choose independently.
Some online banks and credit unions structure their accounts differently, so if you are comparing options, ask directly whether a checking account comes with a savings account or whether you have to open them separately.
Frequently Asked Questions
Can I transfer money between my Chase checking and savings accounts?
Yes. Once both accounts are open and linked in your online banking, you can transfer money between them when ready using Chase's website or mobile app. There is no fee for transfers between your own accounts.
Do I have to open a savings account if I open Chase Total Checking?
No. You can open only a checking account and never open a savings account. Many people use only checking and keep extra money elsewhere, or do not save regularly. Opening a savings account is entirely optional.
What is the difference between a Chase savings account and a money market account?
A money market account usually has a higher interest rate but requires a larger minimum balance and limits how many times per month you can withdraw. A regular savings account has a lower rate but fewer restrictions. Chase's website shows the current rates and rules for each.
If I close my checking account, does my savings account close too?
No. Each account is separate, so closing one does not affect the other. You can close your checking account and keep your savings account open, or vice versa.
Does Chase offer any discount for holding both checking and savings?
Chase does not advertise a standard discount for holding both accounts. However, Chase periodically offers promotions — such as a bonus when you open a new account and meet certain conditions — so it is worth checking their current offers when you are ready to open accounts.