Chase does not charge a fee to open most of its checking and savings accounts
You can open a Chase checking or savings account with no opening fee. Chase does not require a minimum deposit to start the account, though some account types have minimum balance requirements once the account is open. The cost to you is zero at the moment you create the account.
What matters more than the opening fee is what happens after. Chase charges monthly maintenance fees on certain accounts, and those fees depend on which account you choose and whether you meet the bank's conditions to waive them. A checking account that costs nothing to open might cost $12 per month if you do not maintain a minimum balance or set up direct deposit.
Key Takeaways
- Chase charges no fee to open a checking or savings account, and does not require a minimum deposit to create one.
- Monthly maintenance fees range from $0 to $15 depending on the account type, but most can be waived by meeting one condition such as direct deposit or a minimum balance.
- Chase Total Checking, the most common account, costs $12 per month unless you receive direct deposit or maintain $500 in the account.
- Savings accounts have lower or no monthly fees, but earn interest only on balances above certain thresholds.
- You can open an account online, by phone, or in a branch, and the account is typically ready to use within one business day.
Monthly maintenance fees by account type
Chase Total Checking is the standard checking account. It has no monthly fee if you receive direct deposit of any amount, or if you maintain a minimum balance of $500. If you meet neither condition, the fee is $12 per month. This account comes with a debit card, online banking, and mobile check deposit.
Chase Premier Plus Checking is designed for customers who want higher account minimums and additional services. The monthly fee is $25 if you do not maintain a $25,000 minimum balance. This account includes higher ATM reimbursement limits and priority customer service.
Chase Savings has no monthly maintenance fee. Interest accrues on balances of $300 or more, though the rate is low and changes with market conditions. Below $300, your money sits in the account earning nothing.
Chase Money Market Account combines checking and savings features. The monthly fee is $25 unless you maintain a $25,000 minimum balance. This account offers tiered interest rates based on your balance.
How to waive the monthly fee
Most Chase checking accounts waive their monthly fee if you meet at least one of these conditions. The easiest for most people is direct deposit — any recurring deposit from an employer, government agency, or other source counts. You do not need a large amount; even a small regular deposit qualifies.
The second option is maintaining a minimum balance. For Chase Total Checking, that is $500. For Premier Plus Checking and Money Market Account, it is $25,000. The balance is measured at the end of each statement period, so you need to keep that amount in the account consistently.
A third option on some accounts is setting up a may have access to direct payment from your Chase account, such as a bill payment or transfer. Chase Total Checking does not require this, but some other accounts do. Check the specific account terms when you open.
Hidden costs beyond the monthly fee
Chase charges fees for specific actions, separate from the monthly maintenance fee. Overdraft fees are $35 per transaction if you spend more than your balance. Out-of-network ATM withdrawals cost $3 per transaction, though Chase reimburses some of these fees depending on your account type.
Wire transfers cost $15 for domestic transfers and $15 for international transfers. Stopping payment on a check costs $30. Expedited delivery of a debit card costs $15. These are not automatic charges — they only explore if you use these services.
If you close your account within 90 days of opening it, Chase may charge a $25 early closure fee. This is rare but worth knowing if you are testing the account.
How to open an account with no cost
You can open a Chase account online at chase.com, by phone at 1-800-935-9935, or in person at any Chase branch. Online is fastest — the process takes about 10 minutes and you can fund the account when ready with a transfer from another bank.
You will need a government-issued ID, your Social Security number, and an initial deposit if you want to fund the account right away. Chase does not require an opening deposit, so you can open the account empty and fund it later. The account is usually active within one business day.
When you open online, you choose which account type you want. If you are unsure, Chase Total Checking is the standard option and the easiest to keep fee-free if you have direct deposit. If you do not have direct deposit, confirm you can maintain the $500 minimum balance before opening.
Comparing Chase accounts side by side
| Account Type | Opening Fee | Monthly Fee | Fee Waiver Conditions | Minimum Balance to Earn Interest |
|---|---|---|---|---|
| Chase Total Checking | $0 | $12 | Direct deposit OR $500 balance | N/A |
| Chase Premier Plus Checking | $0 | $25 | $25,000 balance | N/A |
| Chase Savings | $0 | $0 | N/A | $300 |
| Chase Money Market Account | $0 | $25 | $25,000 balance | $2,500 |
What to do before you open
Decide which account type fits your situation. If you receive regular direct deposit from an employer or government benefit, Chase Total Checking is free and the simplest option. If you do not have direct deposit, confirm you can keep $500 in the account at all times, or choose Chase Savings instead, which has no monthly fee.
Check whether you have any existing Chase accounts. If you do, opening a new account may trigger a hard inquiry on your credit report, though this is rare for checking accounts. You can call Chase before opening to ask.
Have your Social Security number and a government ID ready. If you are opening online, you will also need a way to verify your identity — Chase may ask you to answer security questions or confirm recent transactions on another account.
Frequently Asked Questions
Do I have to keep money in the account after I open it?
No. You can open the account and leave it empty. However, if your account type has a monthly fee and you do not have direct deposit, you must maintain the minimum balance to avoid the fee. For Chase Total Checking, that is $500. If you cannot maintain it, the $12 monthly fee will be charged.
Can I switch to a different Chase account type later?
Yes. You can convert your account to a different type at any time by calling Chase or visiting a branch. There is no fee to switch. This is useful if your situation changes — for example, if you start receiving direct deposit and want to move from Savings to Total Checking.
What happens if I do not meet the fee waiver condition?
The monthly maintenance fee is charged to your account. For Chase Total Checking, that is $12. The fee is deducted automatically at the end of your statement period. If your balance is low, the fee can overdraft your account, triggering an additional $35 overdraft fee.
Is there a cost to close my Chase account?
There is no fee to close an account, except the $25 early closure fee if you close within 90 days of opening. After 90 days, closing is free. You can close online, by phone, or in a branch.
Do I need a minimum deposit to open?
No. Chase does not require any deposit to open a checking or savings account. You can open the account empty and fund it whenever you are ready. However, some account types require a minimum balance once open to avoid monthly fees or to earn interest.