Chase does not charge a fee to open a checking account
Opening a Chase checking account costs nothing. There is no account opening fee, no setup charge, and no set up cost. You can walk into a branch or open one online without paying to create the account itself.
What matters is what happens after you open it. Chase charges monthly maintenance fees on most checking accounts, and those fees depend on which account type you choose and whether you meet certain conditions to waive them. The account itself is free to start; the cost comes from keeping it open.
Key Takeaways
- Chase charges no fee to open any checking account, whether you do it online, by phone, or in a branch.
- Most Chase checking accounts charge a monthly fee of $12 to $15, but the fee is waived if you meet one straightforward condition, such as maintaining a minimum balance or setting up direct deposit.
- Chase Total Checking and Chase Premier Plus Checking are the two most common accounts, and both have monthly fees that can be avoided.
- You need an initial deposit to open the account, but this is your own money, not a fee paid to Chase.
Monthly maintenance fees on Chase checking accounts
Chase charges a monthly maintenance fee on most checking accounts. The amount varies by account type. Chase Total Checking, the most common option, charges $12 per month. Chase Premier Plus Checking charges $25 per month. Chase Student Checking has no monthly fee.
These fees are not automatic if you meet the waiver conditions. For Chase Total Checking, you can avoid the $12 monthly fee by doing one of the following: maintaining a minimum daily balance of $500, setting up direct deposit of at least $500 per month, or maintaining an average daily balance of $1,500 in linked Chase savings accounts. For Chase Premier Plus Checking, the waiver requires either a $25,000 minimum daily balance or $10,000 in linked Chase savings accounts.
If you do not meet any waiver condition in a given month, the fee posts to your account. You can dispute it, but Chase will only reverse it if you can show you met the requirement and it was applied in error.
Minimum deposit to open the account
Chase requires an initial deposit to open a checking account, but the amount is not a fee—it is your money. The minimum deposit is typically $25, though this can vary by location and whether you open the account online or in a branch. You can deposit this amount in cash, by check, or by transfer from another bank account.
This deposit counts toward your balance when ready. If you open a Chase Total Checking account with a $25 deposit and maintain that balance, you will not owe the monthly fee because you have met the $500 minimum balance waiver condition in some cases, or you can meet it through other means listed above.
How to avoid monthly fees
The easiest way to avoid Chase checking account fees is to set up direct deposit. If your employer or a government agency deposits at least $500 per month into your account, the monthly maintenance fee is waived automatically. You do not need to do anything after setting it up—the waiver applies each month as long as the direct deposits continue.
If direct deposit is not an option, you can maintain a minimum daily balance. For Chase Total Checking, keeping $500 in the account every day of the month waives the fee. This is straightforward but requires you to keep that money in the account rather than spending it. For Chase Premier Plus Checking, the requirement is $25,000, which is a much higher barrier.
A third option is to link a Chase savings account. If you maintain an average daily balance of $1,500 across linked savings accounts, the checking account fee is waived. This works if you are already saving with Chase, but it requires you to keep that money in savings rather than using it.
Overdraft fees and other charges
Opening the account is free, and the monthly maintenance fee can be waived, but Chase does charge for other actions. If you overdraw your account—spend more than you have—Chase charges $35 per overdraft transaction. This is separate from the monthly maintenance fee and applies each time you go negative.
Chase also charges $2.50 per out-of-network ATM withdrawal if you use an ATM that is not part of the Chase network. There is no fee for using Chase ATMs or for withdrawing cash at Chase branches.
Wire transfers, cashier's checks, and stop payments each carry their own fees, typically ranging from $15 to $30. These are not charged automatically—you only pay them if you request these services.
Online versus in-branch account opening
Chase does not charge differently depending on how you open the account. Whether you open it online, by phone, or in a branch, there is no opening fee. Online opening is usually faster—you can complete it in 10 to 15 minutes—and you can start using the account the same day if you link an existing bank account for the initial deposit.
In-branch opening takes longer because you need to show an ID and sign documents in person, but the account itself costs the same. Some people prefer in-branch opening because they can ask questions and get help setting up direct deposit or linking accounts on the spot.
Frequently Asked Questions
Do I have to pay anything to open a Chase checking account?
No. There is no opening fee, setup fee, or set up charge. You only need to make an initial deposit, which is your own money, not a fee. The deposit is typically $25.
What if I cannot meet the minimum balance to waive the monthly fee?
If you cannot maintain $500 in the account or set up direct deposit, you will owe the $12 monthly fee for Chase Total Checking. You can close the account at any time without penalty, or you can switch to Chase Student Checking, which has no monthly fee if you are a student.
Can I open a Chase checking account online without going to a branch?
Yes. You can open most Chase checking accounts entirely online. You will need a valid ID, a Social Security number, and an initial deposit. You can link an existing bank account to fund the deposit, or you can mail in a check.
Does Chase charge to close a checking account?
No. You can close your Chase checking account at any time without paying a fee. If you have pending transactions or a negative balance, those must be resolved first, but closing itself is free.
What happens if I do not meet the fee waiver condition one month?
The $12 monthly maintenance fee will post to your account. You can contact Chase to dispute it if you believe you met the requirement, and they will reverse it if they confirm the error. If you do not meet the requirement, the fee stands.