Chase has no minimum deposit requirement to open most checking and savings accounts

You can open a Chase checking or savings account with zero dollars. Chase does not require you to deposit money upfront to create the account. You can fund it later, or not at all — the account itself costs nothing to open.

What varies is what happens after you open it. Some Chase accounts charge a monthly fee if your balance falls below a certain amount, or if you do not meet other conditions. Others have no monthly fee at all. The account type you choose determines whether there is a cost to keeping it open once the first month passes.

Key Takeaways

  • Chase checking and savings accounts require no money to open, but some charge a monthly maintenance fee once the account is active.
  • The Chase Total Checking account charges $12 per month unless you maintain a $500 minimum balance or set up direct deposit.
  • Chase Premier Plus Checking has no monthly fee and no minimum balance requirement.
  • Savings accounts like Chase Savings have no monthly fee but pay interest rates that change based on market conditions.
  • You can open an account online, by phone, or in a branch, and you will need a Social Security number and valid ID.

Monthly fees depend on the account type and how you use it

Chase Total Checking, the most common Chase checking account, charges $12 per month. You can avoid this fee in three ways: keep a minimum balance of $500, set up direct deposit of any amount, or maintain an average daily balance of $1,500. If you do none of these, the $12 fee posts each month.

Chase Premier Plus Checking has no monthly fee and no minimum balance. This account is available to customers who maintain a combined balance of $25,000 across all their Chase accounts, or who are age 62 or older. If you do not meet those conditions, you cannot open it.

Chase Savings accounts have no monthly maintenance fee. Interest accrues daily and compounds monthly, but the rate changes based on Federal Reserve decisions and market conditions. You will earn more in savings during periods of higher rates and less during periods of lower rates.

What you need to open an account

Chase requires a Social Security number, a valid government-issued photo ID, and a current mailing address. You must be at least 18 years old. If you are opening an account online or by phone, you will also need to verify your identity by answering security questions based on your credit history.

You do not need an existing Chase account, a minimum deposit, or a job. You do not need to be a U.S. citizen, but you do need a Social Security number or ITIN (Individual Taxpayer Identification Number). If you have had a Chase account closed for cause — such as fraud or repeated overdrafts — you may be blocked from opening a new one, though Chase does not publish the exact rules for this.

Opening an account online takes 10 to 15 minutes

You can open a Chase checking or savings account at chase.com without visiting a branch. The process asks for your name, address, date of birth, Social Security number, and employment status. Chase then verifies your identity by asking questions about your credit history — questions only you should be able to answer, like the name of a creditor or the amount of a past loan.

Once you pass verification, the account opens when ready. You can see your account number and routing number right away. You can set up direct deposit or link an external bank account to transfer money in, or you can wait and deposit cash at a Chase ATM or branch later.

Opening in a branch takes longer because you will wait for an available banker, but you can deposit cash on the spot and ask questions about fees and features in person. You still need to bring your ID and Social Security number.

You can fund the account when ready or later

Chase gives you several ways to put money in. You can transfer from another bank account using the routing and account number Chase provides. You can set up direct deposit from your employer, which also waives the monthly fee on Total Checking. You can deposit cash at any Chase ATM or at a Chase branch. You can also deposit checks using the Chase mobile app, which reads the check image and credits your account within one to two business days.

If you open the account but do not fund it right away, the account stays open and active. You will not be charged a monthly fee during the first 30 days. After that, if you have a Total Checking account with a zero balance and no direct deposit, the $12 monthly fee will begin to post.

Fees to watch for after opening

Beyond the monthly maintenance fee, Chase charges $35 for each overdraft — when you spend more than your balance. You can opt out of overdraft protection, which means transactions will be declined instead of charged a fee, but you lose the ability to overdraw. Chase also charges $2.50 for each out-of-network ATM withdrawal, though you can avoid this by using Chase ATMs or banks in the MoneyPass network.

Wire transfers cost $15 for domestic wires and $15 for incoming wires. Cashier's checks cost $10 each. Stop payment requests cost $30. These are not automatic charges — you only pay them if you use these services.

Frequently Asked Questions

Can I open a Chase account if I have been denied before?

Chase uses ChexSystems, a banking history report, to screen new accounts. If you were closed for overdrafts, fraud, or other violations, you may be blocked for a period. Chase does not publish how long the block lasts. You can request your ChexSystems report at chexsystems.com to see what is on file, and you can dispute inaccurate information.

Do I need a minimum deposit to avoid the monthly fee?

For Total Checking, you need either a $500 minimum balance, direct deposit, or a $1,500 average daily balance. If you choose direct deposit, even $1 per paycheck counts. You do not need to keep the money there — once it posts, you can spend it and the fee waiver still applies that month.

What happens if I do not fund the account after opening?

The account stays open for at least 30 days with no fee. After that, if you have Total Checking and no balance or direct deposit, the $12 monthly fee will post. If the account sits inactive for a long time, Chase may close it, though the exact timeline is not published.

Can I open multiple Chase accounts at once?

You can open more than one account, but Chase limits how many you can open in a short period. If you open multiple accounts in the same day or week, Chase may flag this as unusual activity. You can call Chase to explain if this happens, but the exact rules vary by situation.