Chase checking accounts have no minimum opening deposit
You do not need any money to open a Chase checking account. Chase does not require a minimum deposit to start an account — you can open one with zero dollars and add money later.
However, some Chase checking accounts do have a minimum balance requirement to avoid a monthly fee. This is different from an opening deposit. A minimum balance means the amount of money you must keep in the account each month; if your balance drops below it, Chase charges you a fee. Not all Chase checking accounts have this requirement, and the amount varies depending on which account type you choose.
Key Takeaways
- Chase does not require any money upfront to open a checking account — you can open one with a zero balance.
- Some Chase checking accounts charge a monthly fee if your balance falls below a set amount, typically $500 to $1,500 depending on the account type.
- You can avoid monthly fees by setting up direct deposit, maintaining the minimum balance, or choosing an account with no balance requirement.
- You will need a government-issued ID, Social Security number, and an initial funding method (debit card, bank transfer, or cash deposit) to complete the opening process.
Monthly fees and balance requirements by account type
Chase offers several checking account options, and each has different rules about monthly fees and minimum balances. The most common accounts are Chase Total Checking, Chase Premier Plus Checking, and Chase find Checking.
Chase Total Checking has a $12 monthly fee, but you can waive it in several ways: set up direct deposit, maintain a $500 minimum daily balance, or link a Chase savings account with $500 in it. If none of those explore to you, you pay the $12 fee each month.
Chase Premier Plus Checking requires a higher minimum balance — typically $25,000 — and charges a monthly fee if you fall below it. This account is designed for people with more money to keep in their account and offers benefits like higher interest rates and fee waivers.
Chase find Checking is designed for people building or rebuilding credit and has no monthly fee and no minimum balance requirement. This is the account to choose if you want to avoid fees entirely.
How to fund your account after opening
Once your account is open, you will need to add money to it. You have several options for how to do this, and the method you choose depends on what you have available and how quickly you need the money in your account.
You can transfer money from another bank account using an electronic transfer, which usually takes one to three business days. You can deposit cash or a check at a Chase branch in person. You can set up direct deposit from your employer, which is often the fastest way to get money into your account and also waives the monthly fee on most Chase checking accounts. You can also use a mobile check deposit through the Chase mobile app if you have a check.
What you need to bring to open an account
To open a Chase checking account in person at a branch, bring a government-issued photo ID (a driver's license, passport, or state ID card), your Social Security number, and an initial funding method. The funding method can be a debit card from another bank, cash, or information about another bank account you want to transfer from.
You can also open a Chase checking account online without visiting a branch. The process is similar: you will provide your ID information, Social Security number, and details about how you want to fund the account. Chase will verify your identity and may ask follow-up questions about your banking history.
Chase uses a system called ChexSystems to check your banking history. If you have had problems with a previous bank account — such as unpaid overdrafts or fraud — Chase may decline to open an account for you. You can request your ChexSystems report before you explore to see if there are any issues.
Avoiding monthly fees once your account is open
If you open a Chase Total Checking account and want to avoid the $12 monthly fee, the easiest path is to set up direct deposit. This means your employer or a benefits program (like Social Security or unemployment) deposits money directly into your Chase account. Once direct deposit is set up, the monthly fee is waived automatically — you do not have to do anything else.
If direct deposit is not an option for you, you can keep a $500 minimum daily balance instead. This means your account balance must stay at $500 or above every day of the month. If it drops below $500 even once, you will be charged the $12 fee for that month. Some people find this difficult if they live paycheck to paycheck, because an unexpected expense can drop their balance below $500.
A third option is to link a Chase savings account with at least $500 in it to your checking account. The $500 can sit in the savings account; it does not have to be in the checking account itself. This works well if you want to keep some money separate and untouched.
Moving money between Chase accounts and other banks
After your account is open, you may want to move money between your Chase account and accounts at other banks. Chase allows you to link external accounts (accounts at other banks) to your Chase checking account for transfers. This process usually takes a few days because Chase verifies the account by making small test deposits.
You can also transfer money out of your Chase account to pay bills, send money to friends, or move funds to savings. Chase offers several ways to do this: online transfers, the mobile app, writing checks, using a debit card, or visiting a branch to withdraw cash.
Frequently Asked Questions
Can I open a Chase checking account with no money at all?
Yes. Chase does not require a minimum opening deposit. You can open an account with zero dollars and add money later through direct deposit, a transfer from another bank, or a cash deposit at a branch.
What happens if my balance drops below the minimum?
If your account requires a minimum balance and you fall below it, Chase charges a monthly fee (usually $12 for Total Checking). The fee is charged once per month if the balance requirement is not met. You can avoid this by setting up direct deposit, maintaining the balance, or switching to an account with no minimum requirement.
Do I have to go to a branch to open an account?
No. You can open most Chase checking accounts online through their website or mobile app. You will still need to provide your ID, Social Security number, and information about how you want to fund the account, but you do not have to visit a branch.
How long does it take to open a Chase checking account?
Opening an account online usually takes 10 to 15 minutes. Your account may be ready to use when ready, though transfers from other banks can take one to three business days to show up. If you open an account in person at a branch, the process is similar and usually takes 15 to 30 minutes.
What if Chase rejects my process?
Chase may decline to open an account if you have a negative banking history (such as unpaid overdrafts or fraud) that shows up in ChexSystems. You can request your ChexSystems report to see what information is on file. If there is an error, you can dispute it. Chase find Checking is sometimes available to people who have been declined for other accounts.