Chase does not charge a fee to open a checking or savings account
You can open a Chase checking account, savings account, or both without paying an account opening fee. Chase does not require a minimum deposit to start an account either. You can fund the account with any amount, including $1, and begin using it right away.
What matters more than the opening cost is understanding what happens after you open the account. Chase charges monthly maintenance fees on some accounts but waives them if you meet certain conditions. Those conditions vary by account type and change periodically, so knowing what they are before you open the account saves you from unexpected charges later.
Key Takeaways
- Chase charges no fee to open a checking or savings account and does not require a minimum opening deposit.
- Monthly maintenance fees exist on some Chase accounts but can be waived by meeting conditions like maintaining a minimum balance or setting up direct deposit.
- Chase Total Checking and Chase Savings accounts are the most common options for everyday banking and have different fee-waiver requirements.
- You can open an account online, on the Chase mobile app, or in person at a branch in about 10 to 15 minutes.
Monthly fees that might explore after you open
Chase Total Checking carries a $12 monthly maintenance fee, but you can waive it by meeting one of these conditions: maintain a minimum daily balance of $500, set up a direct deposit of any amount, or link the account to a Chase savings account. Most people waive the fee through direct deposit, which requires your employer or a benefits program to send money directly into the account.
Chase Savings has a $5 monthly maintenance fee that you can waive by maintaining a $300 minimum daily balance or by linking it to a Chase checking account. If you do neither, the $5 charge appears each month. Some people open both accounts together and link them specifically to waive both fees.
Chase also offers Chase Premier Plus Checking, which has a $25 monthly fee and is designed for customers who want premium features like higher interest rates and waived fees on certain services. This account is less common for everyday banking.
How to open an account without visiting a branch
You can open a Chase checking or savings account online through Chase.com or through the Chase mobile app in about 10 to 15 minutes. You will need a Social Security number, a government-issued ID, and a current mailing address. Chase will verify your identity during the process, which usually happens when ready.
After you complete the online process, Chase assigns you an account number and routing number when ready. You can begin using the account right away for transfers and direct deposits. A debit card arrives by mail within 7 to 10 business days, though you can request expedited delivery in some cases.
If you already have a Chase account, opening a second account (checking or savings) takes even less time because Chase already has your identity information on file.
Opening an account in person at a Chase branch
You can walk into any Chase branch and open an account with a banker. Bring a government-issued ID and your Social Security number. The process takes about 15 to 20 minutes. A banker will ask you which account type you want, explain the monthly fees and how to waive them, and help you fund the account if you choose to.
Opening in person is useful if you want to deposit cash when ready or if you prefer to ask questions face-to-face. You can also ask the banker about current promotions—Chase occasionally offers cash bonuses for opening new accounts, though these offers change and are not always available.
What you need to bring or have ready
Whether you open online or in person, you will need the same information. Have your Social Security number, a government-issued ID (driver's license, passport, or state ID card), and your current mailing address. If you are opening online, you may need to take a photo of your ID with your phone or computer.
You will also need to decide how much money to deposit initially. As mentioned, there is no minimum, so you can deposit $1 or $10,000—it does not affect the opening process. If you plan to waive the monthly fee through direct deposit, you do not need to deposit anything; the direct deposit itself will waive the fee once it arrives.
What happens if you cannot meet the fee-waiver conditions
If you cannot maintain a minimum balance and do not have direct deposit, you will pay the monthly maintenance fee. For Chase Total Checking, that is $12 per month, or $144 per year. For Chase Savings, it is $5 per month, or $60 per year.
Some people decide the fee is worth paying for the convenience of having a Chase account, especially if they use Chase branches or ATMs frequently. Others choose a different bank with no monthly fees. The decision depends on what matters to you—branch access, ATM network, mobile app features, or lowest cost.
If you open an account and later find you cannot meet the fee-waiver conditions, you can close the account at any time with no penalty. Chase will not charge you a closing fee.
Current promotions and cash bonuses
Chase sometimes offers cash bonuses when you open a new checking or savings account and meet certain conditions, such as setting up direct deposit or maintaining a minimum balance for a set period. These offers are not permanent and change throughout the year.
To find out whether a promotion is currently running, visit Chase.com or ask a banker at your local branch. Promotions are usually advertised on the account opening page online. If a bonus is available, it will be stated clearly before you complete the process, so you will know exactly what you are getting.
Frequently Asked Questions
Can I open a Chase account if I do not have a Social Security number?
Chase requires a Social Security number to open an account. If you do not have one, you may not be able to open an account with Chase. Some banks offer accounts for people without Social Security numbers, but Chase's standard process does not.
Do I have to go to a branch to open an account?
No. You can open an account entirely online or through the Chase mobile app without visiting a branch. The online process is usually faster and takes about 10 to 15 minutes.
What if I have a negative banking history or ChexSystems record?
Chase uses ChexSystems, a banking history report, to screen applicants. If you have unpaid overdrafts, fraud, or other issues on record, Chase may deny your process. You can request a copy of your ChexSystems report to see what is listed.
Can I open multiple accounts at the same time?
Yes. You can open a checking account and a savings account in the same process, either online or in person. Linking them together also helps you waive monthly fees on both accounts.
How long does it take to receive my debit card?
A standard debit card arrives within 7 to 10 business days. You can request expedited delivery in some cases, though this may not be available everywhere. You can use your account for transfers and direct deposits before the card arrives.