The minimum deposit to open a Chase account depends on the account type
Chase does not require a minimum opening deposit for most of their checking and savings accounts. You can walk into a branch or open an account online with zero dollars, then deposit money whenever you're ready. However, some Chase accounts do have minimum balance requirements once the account is open — meaning you need to keep a certain amount in the account to avoid monthly fees.
The difference between an opening deposit and a minimum balance matters. An opening deposit is what you bring on day one. A minimum balance is what you must maintain afterward. Chase lets you do the first without the second on most accounts, but not all.
Key Takeaways
- Most Chase checking and savings accounts require no money to open, but some accounts charge a monthly fee if your balance drops below a set amount.
- Chase Total Checking has no monthly fee and no minimum balance requirement, making it the most accessible option for people starting out.
- Premium accounts like Chase Sapphire Checking require higher minimum balances — typically $15,000 or more — to avoid fees.
- You can open an account online in minutes, by phone, or in person at a branch, and you do not need to bring cash on the day you open it.
- If you do not meet a minimum balance requirement, Chase charges a monthly maintenance fee that ranges from $12 to $25 depending on the account.
Chase Total Checking: no opening deposit, no minimum balance
Chase Total Checking is designed for everyday banking and has no opening deposit requirement and no minimum balance to keep. You will not pay a monthly fee no matter how low your balance goes. This account includes a debit card, online banking, and access to Chase's ATM network.
This is the account to choose if you are new to banking or returning after a gap. It removes the barrier of needing money upfront and the stress of maintaining a balance you cannot afford.
Chase Sapphire Checking: higher balance requirement for premium features
Chase Sapphire Checking requires a $15,000 minimum balance to avoid a $25 monthly fee. This account is aimed at people who already have significant savings and want higher interest rates and premium perks like travel credits and concierge services.
If your balance falls below $15,000 even once during a month, you will be charged the full $25 fee. Some people keep this account alongside a basic checking account to take advantage of the benefits without risking the fee.
Chase Savings Account: opening deposit and balance requirements
Chase Savings Account requires no opening deposit, but it does charge a $5 monthly fee if your balance falls below $300. If you keep at least $300 in the account at all times, there is no fee.
The $300 threshold is lower than premium accounts, but it still means you need to plan ahead. If you are building savings from very little, this account may frustrate you — you might want to start with Total Checking and move money to savings once you have built up $300.
How to open a Chase account without cash on hand
You have three ways to open a Chase account, and none of them require you to bring money:
- Online: Go to Chase.com, select the account type, and complete the process. You will need your Social Security number, a government-issued ID, and an address. The account opens when ready, and you can transfer money from another bank or deposit a check by phone.
- By phone: Call Chase at 1-800-935-9935 and a representative will walk you through the process. You will need the same documents as online. The account opens the same day.
- In person at a branch: Bring your ID and Social Security number. A banker will help you choose an account and open it on the spot. You can deposit cash or a check at that time, but you do not have to.
Most people find online opening fastest because you do not have to travel or wait for a representative. The account is ready to use within minutes.
What happens if you cannot meet the minimum balance
If you open an account with a minimum balance requirement and your balance drops below it, Chase charges a monthly maintenance fee. For Chase Sapphire, that fee is $25. For Chase Savings, it is $5. These fees are charged automatically each month until your balance rises above the minimum again.
The fee comes out of your account, which can make the problem worse — if you have $290 in savings and the $5 fee is charged, you now have $285, still below the minimum. Some people end up paying fees for months without realizing it. Check your account online or by app each month to watch your balance.
Frequently Asked Questions
Can I open a Chase account with no money and no job?
Yes. Chase does not ask about employment when you open most accounts. You need a government-issued ID, a Social Security number, and an address. You can open the account with zero dollars and deposit money later however you can — through direct deposit, transfers from another bank, or cash deposits at a branch.
What if I do not have a Social Security number?
Chase requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open an account. If you do not have either, you will need to obtain one before opening. The Social Security Administration and IRS both issue these numbers, though the process takes time.
Do I have to keep money in the account after I open it?
Only if you choose an account with a minimum balance requirement. Chase Total Checking has no minimum, so you can open it and leave it empty. Other accounts charge a fee if your balance falls below the stated minimum, but you are not forced to keep money there — you just pay the fee if you do not.
Can I open a Chase account if I have been denied before?
Chase uses ChexSystems, a banking history report, to decide whether to open accounts. If you were denied in the past, the reason may still be on file. Call Chase or visit a branch to ask why you were denied. Some issues clear after a set time, and you may be able to open an account now.
How long does it take to use my account after I open it?
Online and phone accounts are ready to use when ready — you can transfer money or set up direct deposit the same day. In-person accounts are also ready the same day. However, if you deposit a check, it typically takes one to two business days to clear before you can withdraw the money.