Chase checking accounts have no required opening deposit

You can open a Chase checking account with zero dollars. Chase does not require you to put money in the account on the day you open it, and you do not need to maintain a minimum balance to keep the account open. This means you can walk into a branch or open one online without having to deposit anything first.

However, there are a few things to understand about how Chase checking accounts actually work once they are open, because the lack of an opening deposit does not mean the account is entirely free to use.

Key Takeaways

  • Chase checking accounts require no money to open and no minimum balance to keep open.
  • Most Chase checking accounts charge a monthly service fee of around $12, though you can waive it by meeting one of several conditions.
  • You can waive the monthly fee by keeping a certain balance, setting up direct deposit, or maintaining a linked savings account with a minimum balance.
  • If you do not meet any fee-waiver condition, you will be charged the monthly fee even if your account balance is zero.
  • The specific fee amount and waiver options depend on which Chase checking product you choose.

Monthly fees and how to avoid them

While you do not need money to open a Chase checking account, most Chase checking products charge a monthly service fee if you do not meet certain conditions. The most common Chase checking account, called Chase Total Checking, charges around $12 per month — though this amount can change and varies slightly by region.

You can avoid this fee in several ways. The easiest for most people is to set up direct deposit, which means your paycheck or benefits payment goes directly into your Chase account from your employer or the government. If you have direct deposit set up, Chase waives the monthly fee. You can also waive the fee by keeping a minimum balance in the account (the amount varies by account type, typically $500 to $1,500), or by maintaining a linked Chase savings account with its own minimum balance.

If you do not meet any of these conditions, you will pay the monthly fee every month, even if your account balance stays at zero. This means the fee will put your account into negative balance unless you deposit money to cover it.

Different Chase checking products have different rules

Chase offers several checking account products, and the fee structure is not the same for all of them. Chase Total Checking is the standard option and the one most people encounter. Chase Premier Plus Checking is designed for customers with higher balances and has a higher monthly fee but more benefits. Chase Student Checking is for people under 25 and has different rules.

Before you open an account, ask a Chase representative or check the Chase website to confirm the current monthly fee and the exact conditions that waive it for the specific product you are considering. These details can change, and they may vary slightly depending on which state you are in.

What happens if you never deposit money

If you open a Chase checking account and never put any money in it, the account itself stays open. However, if a monthly fee applies and you do not meet the conditions to waive it, that fee will be charged to your account. Once the fee is charged to a zero balance, your account goes negative. Chase may then close the account after a period of time if the negative balance is not resolved.

To avoid this, either set up direct deposit before opening the account, or deposit enough money to cover the monthly fee and any transactions you plan to make. If you know you will not be able to meet any of the fee-waiver conditions, consider whether a checking account is the right product for you, or look into whether Chase offers any no-fee checking options in your area.

Opening an account online versus in a branch

You can open a Chase checking account either online through the Chase website or by visiting a Chase branch in person. The opening process is the same either way — you provide your personal information, verify your identity, and choose which account product you want. Neither method requires you to deposit money at the time you open the account.

Opening online is faster and can be done from home. Opening in a branch lets you ask questions in person and sometimes gives you access to a banker who can explain the fee structure and help you set up direct deposit right away. If you are new to banking, the in-branch experience may be more helpful because you can ask about the specific conditions that waive fees for your situation.

What you need to bring or provide to open an account

To open a Chase checking account, you will need to provide your Social Security number, a government-issued photo ID, and proof of your current address (such as a recent utility bill or lease). If you are opening the account online, you will upload images of these documents. If you are opening in a branch, you bring the originals.

You will also need to choose a username and password for online banking, and decide whether you want a debit card. Chase will mail your debit card to you after the account is open, which usually takes five to seven business days. You can use your account and make transfers before the card arrives.

Getting money into your account after you open it

Once your account is open, you have several ways to put money in. You can set up direct deposit from your employer or benefits provider, which is the easiest way to avoid the monthly fee. You can transfer money from another bank account you own. You can deposit cash or checks at a Chase ATM or branch. You can also have someone else send you money through a service like Zelle, which many banks including Chase offer.

If you are opening the account specifically to receive direct deposit, you can set that up during the account opening process. You will need your account number and routing number, which Chase provides when ready after the account is created. Your employer or benefits provider will need these numbers to set up the deposit on their end.

Frequently Asked Questions

Can I open a Chase checking account if I have no money at all?

Yes. Chase does not require an opening deposit or minimum balance. However, if you cannot meet the conditions to waive the monthly fee (such as setting up direct deposit), you will be charged the fee each month, which will put your account into negative balance unless you deposit money to cover it.

What is the monthly fee for Chase Total Checking right now?

Chase Total Checking charges a monthly service fee of around $12, though the exact amount can vary by region and may change. Contact Chase directly or check their website for the current fee in your area, and confirm which conditions waive it.

Do I have to set up direct deposit to avoid the fee?

No. Direct deposit is one way to waive the fee, but you can also waive it by keeping a minimum balance in the checking account itself, or by maintaining a linked Chase savings account with a minimum balance. Ask Chase which option works best for your situation.

What happens if my account goes negative because of the monthly fee?

Chase may charge you an overdraft fee on top of the monthly fee, and the account may be closed if the negative balance is not resolved within a certain period. To avoid this, deposit money to cover the monthly fee, or meet one of the conditions that waives the fee.

How long does it take to open a Chase checking account?

Online applications usually take 10 to 15 minutes and the account opens when ready. In-branch applications also take 15 to 30 minutes. Your debit card will arrive by mail in five to seven business days, but you can use the account right away.