Chase checking accounts have no opening deposit requirement
You do not need to deposit any money to open a Chase checking account. Chase does not charge an account opening fee, and you can start with $0. The account becomes active once you complete the process and Chase approves it.
What matters instead is what happens after you open the account. Some Chase checking products charge a monthly fee if you do not meet certain conditions — like keeping a minimum balance or setting up direct deposit. Other Chase accounts have no monthly fee at all, regardless of your balance.
The cost of your account depends on which type of checking account you choose and whether you meet the fee waiver requirements.
Key Takeaways
- Chase does not require an opening deposit or charge a fee to open any checking account.
- Monthly fees range from $0 to $15 depending on the account type, but most fees can be waived by meeting one straightforward requirement.
- Chase Total Checking and Chase Sapphire Checking are the two main options for most people, with different fee structures and benefits.
- You can open an account online, by phone, or in a branch, and approval usually takes a few minutes to a few hours.
The two main Chase checking accounts and their monthly costs
Chase Total Checking charges a $12 monthly fee, but the fee is waived if you meet any one of these conditions: set up direct deposit, maintain a $500 minimum daily balance, or keep an average monthly balance of $1,500. Most people waive the fee through direct deposit, which means the account costs nothing if your employer or benefits provider deposits money into it automatically.
Chase Sapphire Checking charges a $25 monthly fee, but the fee is waived if you maintain a $10,000 minimum daily balance or set up direct deposit. This account comes with additional benefits like higher interest on savings and travel perks, which is why the fee is higher. If you do not meet the balance requirement and do not have direct deposit, you pay the full $25 per month.
Chase also offers Chase find Checking, which has no monthly fee and no minimum balance requirement. This account is designed for people building credit or returning to banking after a gap. It has fewer features than the other two accounts — for example, no debit card initially — but it costs nothing to maintain.
Other costs you might encounter
Opening the account itself is free, but Chase charges fees for certain transactions and services. An overdraft fee applies if you spend more money than you have in the account — this fee is $35 per overdraft. You can set up overdraft protection to link your checking account to a savings account, which prevents overdrafts but may have its own fee depending on your account type.
Out-of-network ATM withdrawals cost $3 per transaction if you use an ATM that is not part of the Chase network. Chase has thousands of ATMs nationwide, so this fee is straightforward to avoid if you plan ahead.
Wire transfers, cashier's checks, and stop-payment requests each carry separate fees. These are not common for most people, but they are worth knowing about if you think you might need them.
How to open an account with no money upfront
You can open a Chase checking account online at chase.com, by calling 1-800-935-9935, or by visiting a Chase branch in person. Online is usually the fastest option — the process takes about 10 minutes, and you get approval within a few hours in most cases.
You will need a government-issued ID, your Social Security number, and your address. Chase will check ChexSystems, which is a banking history report similar to a credit report. If you have had problems with a bank account in the past, ChexSystems might flag it, but this does not automatically disqualify you. Chase also looks at your banking history with them if you have been a customer before.
Once approved, you can start using your account right away for direct deposit and bill payments. Your debit card arrives in the mail within 7 to 10 business days. If you need cash before the card arrives, you can withdraw money at any Chase ATM or branch using your account number.
Choosing between Chase Total and Chase Sapphire
If you receive a paycheck or benefits through direct deposit, Chase Total Checking is the better choice. The $12 fee disappears completely, and you get all the basic features you need. Direct deposit is the easiest way to waive the fee because it requires no action after setup.
Chase Sapphire Checking makes sense only if you have $10,000 to keep in the account at all times or if you value the extra benefits like higher savings interest rates. For most people starting out, this account is not necessary. The $25 monthly fee adds up to $300 per year, which is a real cost if you are not using the premium features.
If you do not have direct deposit and cannot maintain a high balance, Chase find Checking is the right choice. It costs nothing and has no minimum balance, even though it has fewer features. You can always upgrade to Total Checking later once you set up direct deposit.
What happens after you open the account
Your account is ready to use when ready after approval, but your debit card takes 7 to 10 business days to arrive. In the meantime, you can receive direct deposits, pay bills online, set up automatic payments, and transfer money between Chase accounts. You can also withdraw cash at any Chase ATM or branch using your account number.
Chase sends your first statement 30 days after you open the account. You can view statements online anytime through the Chase mobile app or website. Paper statements are available but cost extra if you request them.
If you have questions after opening, Chase customer service is available by phone, through the app, or in person at any branch. There is no charge for customer service.
Frequently Asked Questions
Can I open a Chase checking account if I have been denied by other banks?
Chase checks ChexSystems, a banking history report, so past account problems may show up. However, a ChexSystems record does not automatically disqualify you. Chase find Checking is specifically designed for people with banking history issues. Contact Chase directly to ask about your specific situation before explore.
Do I have to keep money in the account after I open it?
No, unless you choose Chase Sapphire Checking, which requires a $10,000 minimum balance to waive the monthly fee. Chase Total Checking and Chase find Checking have no minimum balance requirement. You can open the account and leave it empty if you want.
What if I do not have direct deposit — how do I waive the monthly fee?
For Chase Total Checking, you can waive the $12 fee by keeping a $500 minimum daily balance or a $1,500 average monthly balance instead of setting up direct deposit. For Chase Sapphire, you need either direct deposit or a $10,000 daily balance. Chase find Checking has no monthly fee regardless of your balance.
How long does approval take?
Online applications usually get approved within a few hours. Phone and in-branch applications may take longer, sometimes up to one business day. Once approved, your account is active when ready, though your debit card arrives by mail in 7 to 10 business days.
Can I open an account if I am under 18?
Chase requires you to be at least 18 years old to open an account on your own. If you are younger, a parent or guardian can open a Chase Youth Checking account, which is a separate product designed for teenagers. Contact Chase directly for details about youth accounts.