Chase has no account opening fee, but monthly maintenance costs vary by account type

Chase does not charge you to open a checking or savings account. There is no upfront fee, no process fee, and no set up cost. What you pay depends on which account you choose and whether you meet the bank's conditions to waive the monthly fee.

Most Chase accounts come with a monthly maintenance fee—typically $12 for checking accounts—but you can avoid it by meeting one of several requirements. The most common path is setting up direct deposit, maintaining a minimum balance, or using Chase's digital banking features in a specific way. Some accounts have no monthly fee at all, regardless of your balance or activity.

Key Takeaways

  • Chase charges no fee to open an account, but most checking accounts carry a $12 monthly maintenance fee unless you meet a waiver requirement.
  • Direct deposit, a minimum daily balance of $500 to $1,500 depending on the account, or maintaining a linked savings account can eliminate the monthly fee.
  • Chase's basic savings account has no monthly fee, making it a zero-cost option if you do not need checking features.
  • Overdraft fees, ATM fees outside Chase's network, and wire transfer fees are separate charges that explore regardless of which account you open.

Monthly maintenance fees by account type

Chase's most popular checking account is the Chase Total Checking account, which carries a $12 monthly maintenance fee. You can waive this fee by meeting any one of these conditions: setting up direct deposit of at least $500 per month, maintaining a minimum daily balance of $1,500, or maintaining a linked Chase savings account with a $300 minimum balance.

The Chase Premier Plus Checking account costs $25 per month and is designed for customers who want higher balance requirements and additional perks like higher interest rates and priority customer service. This fee waives if you maintain a $25,000 minimum daily balance or set up direct deposit of $5,000 or more per month.

Chase's savings accounts have no monthly maintenance fee. The Chase Savings account earns interest and has no minimum opening deposit, making it a no-cost option if you only need a savings product. Some customers open both a free savings account and a checking account to waive the checking fee through the linked-account requirement.

How to avoid the monthly fee

The easiest way to waive Chase's monthly checking fee is through direct deposit. If your employer or a government agency deposits your paycheck or benefits directly into your Chase account, the fee disappears automatically. You do not need a large paycheck—the requirement is typically $500 per month, which covers most regular paychecks.

If you do not receive direct deposits, you can maintain a minimum daily balance instead. For Total Checking, that balance is $1,500. This means your account balance must stay at or above $1,500 every day of the month; if it drops below that even once, you may be charged the fee for that month. Some customers find this difficult if they live paycheck to paycheck.

A third option is linking a Chase savings account with a $300 minimum balance to your checking account. This is often the most realistic path for people without direct deposit and without $1,500 sitting in checking. You keep $300 in savings, and the checking fee waives automatically.

Other fees that explore after you open

Opening the account is free, but Chase charges for specific transactions and situations. An overdraft fee of $35 applies if you spend more than your balance and Chase covers the transaction. You can get one overdraft fee waived per year if you ask, but repeated overdrafts will cost you.

Using an ATM outside Chase's network costs $2.50 per withdrawal. Chase has thousands of ATMs nationwide, so this is avoidable for most customers, but it adds up if you travel or live far from a Chase branch.

Wire transfers cost $15 for outgoing domestic wires and $15 for incoming wires. Cashier's checks cost $10 each. Stop-payment requests on checks cost $30. These are not monthly charges—they only explore when you use these services.

Minimum opening deposit requirements

Chase does not require a minimum deposit to open a checking or savings account. You can open an account with $0 and deposit money later. This is different from some other banks, which require $25 or $100 just to start.

However, if you want to waive the monthly fee through a balance requirement, you will need to deposit enough to meet that threshold. For Total Checking, that is $1,500 for the balance waiver or $300 if you use the linked savings account method.

How to open a Chase account without fees

The lowest-cost path is opening a Chase savings account, which has no monthly fee and no minimum balance. If you also need checking, open Total Checking and link it to the savings account with $300 in it. Your total cost is zero per month.

If you have direct deposit, open Total Checking and set up your paycheck deposit. Again, your cost is zero per month, and you do not need to maintain any minimum balance.

You can open an account online at Chase.com, by phone, or in person at a Chase branch. Online opening is fastest and takes about 10 minutes. You will need a government-issued ID, your Social Security number, and an initial deposit method (a debit card or bank account to transfer from).

Frequently Asked Questions

Can I open a Chase account with no money down?

Yes. Chase does not require a minimum opening deposit for checking or savings accounts. You can open with $0 and add money later. However, if you want to waive monthly fees through a balance requirement, you will need to deposit at least $300 to $1,500 depending on the account type.

What happens if I do not meet the fee waiver requirements?

You will be charged the monthly maintenance fee. For Total Checking, that is $12 per month, or $144 per year. The fee posts automatically on a set day each month. You can call Chase to request a one-time waiver, but they do not waive it repeatedly without a may have access to condition.

Do I have to keep $1,500 in my checking account at all times?

Only if you want to use the balance requirement to waive the fee. If you set up direct deposit instead, you can keep any amount in checking. If you do not meet any waiver requirement, the $12 fee charges regardless of your balance.

Are there any Chase accounts with no monthly fee?

Yes. Chase savings accounts have no monthly maintenance fee. Some customers use a savings account as their primary account to avoid fees entirely, though it does not come with a debit card or check-writing ability.

What if I close my account right after opening it?

Chase does not charge a fee to close an account. However, if you open and close multiple accounts in a short time, Chase may flag your account for fraud prevention. There is no stated penalty, but the bank may decline to let you open new accounts for a period of time.