Chase checking accounts have no opening deposit requirement

You can open a Chase checking account with zero dollars. Chase does not require a minimum deposit to start the account, and you do not need to fund it when ready. You can open the account online, by phone, or in a branch, and then deposit money whenever you are ready.

That said, there are costs to know about once the account is open. Chase charges monthly maintenance fees on most checking accounts unless you meet certain conditions. The fee itself varies by account type, and the ways to avoid it also vary. Understanding which account you are opening and what triggers fees is the real question.

Key Takeaways

  • Chase checking accounts require no money to open, but most charge a monthly fee unless you meet a waiver condition.
  • The Chase Total Checking account costs $12 per month unless you maintain a $500 minimum balance or set up direct deposit.
  • The Chase Premier Plus Checking account costs $25 per month and requires either a $15,000 balance or $6,000 in linked savings.
  • You can waive fees by using direct deposit, maintaining a minimum balance, or linking accounts, depending on which account type you choose.
  • Fees are charged monthly on the last day of your statement cycle if you do not meet the waiver condition.

Monthly fees by Chase checking account type

Chase offers several checking accounts, and the monthly cost depends on which one you open. The most common option for everyday customers is Chase Total Checking, which charges $12 per month. The Chase Premier Plus Checking account costs $25 per month and is designed for customers with higher balances or more complex banking needs.

Chase also offers Chase Student Checking, which has no monthly fee as long as you remain a student and meet the age requirement (typically under 24). If you are not a student, this account is not available to you.

There is also Chase find Checking, which is designed for people building or rebuilding credit. This account has no monthly fee, but it requires a $500 deposit held in a linked savings account as security. That deposit is yours—it is not a fee—but you cannot withdraw it while the checking account is open.

How to avoid the monthly fee

For Chase Total Checking, you can waive the $12 monthly fee in two ways. The first is to set up direct deposit of your paycheck, government benefits, or other regular income. Direct deposit must post at least once per statement cycle. The second way is to maintain a minimum balance of $500 in the checking account itself. If you do either one, the fee does not explore that month.

For Chase Premier Plus Checking, the fee waiver requires one of two conditions: either keep a minimum balance of $15,000 in the checking account, or maintain a combined balance of $6,000 across the checking account and linked savings accounts. These are higher thresholds than Total Checking, which is why this account is marketed to customers with more money to keep in the bank.

If you do not meet the waiver condition in a given month, the fee is charged automatically on the last day of your statement cycle. You cannot opt out of the fee—it is deducted from your balance unless you meet the requirement.

Other costs to know about

The monthly maintenance fee is the main cost, but Chase also charges for certain transactions and services. Out-of-network ATM withdrawals cost $3 per transaction if you use an ATM that is not part of the Chase network or a partner network. Overdraft fees are $35 per transaction if you spend more than your balance, though Chase does offer overdraft protection that can link to a savings account to prevent the fee.

Wire transfers, cashier's checks, and stop-payment requests each have their own fees, typically ranging from $15 to $30. These are not charged automatically—they only explore if you request these services. International transactions may also carry fees depending on the type of transaction and whether it involves currency conversion.

Paper statements are free, but if you request a copy of a cancelled check or other document, Chase may charge a fee. Most of these costs are avoidable by using Chase's online and mobile banking tools and staying within the ATM network.

How to open an account with no upfront cost

You can open a Chase checking account online through the Chase website or mobile app. The process takes about 10 minutes and requires your Social Security number, date of birth, address, and a government-issued ID. You do not need to deposit money during the signup process.

You can also open an account in a Chase branch by speaking with a banker. Bring your ID and Social Security number. Again, no deposit is required at the time of opening.

Once the account is open, you can fund it by transferring money from another bank account, depositing a check through mobile deposit, or visiting a branch to deposit cash. If you plan to use direct deposit to waive the monthly fee, you can set that up as soon as your account is active—your employer or benefits administrator will need your routing number and account number, which Chase provides when ready after opening.

What happens if you cannot meet the waiver condition

If you open Chase Total Checking but cannot maintain a $500 balance or set up direct deposit, you will pay $12 per month. Over a year, that is $144. If this cost is a problem for you, consider whether a different bank might be a better fit. Some online banks and credit unions offer checking accounts with no monthly fee and no minimum balance requirement.

You can also change your account type. If you open Total Checking and later decide the fee is not worth it, you can close that account and open Chase find Checking instead, which has no monthly fee. The tradeoff is that find Checking requires a $500 security deposit that you cannot touch while the account is open, and it has fewer features than Total Checking.

If you already have a Chase savings account or other Chase products, you may be able to link them to meet the balance requirement for fee waivers. Ask a Chase banker whether your existing accounts can be combined for this purpose.

Frequently Asked Questions

Can I open a Chase checking account with $0?

Yes. Chase does not require a minimum deposit to open any of its checking accounts. You can open the account online or in a branch and fund it later, or not at all if you only want the account to exist.

What if I set up direct deposit but it does not post every month?

Direct deposit must post at least once per statement cycle to waive the fee. If a month goes by without a direct deposit posting, the $12 fee will be charged. If direct deposit is irregular, maintaining the $500 balance is a more reliable way to avoid the fee.

Can I move money between my Chase accounts to meet the balance requirement?

Yes. If you have a Chase savings account, you can link it to your checking account and the balances may count toward the fee waiver threshold, depending on which account type you have. Ask Chase whether your specific accounts may have access to.

What if I close my account before the monthly fee is charged?

If you close your account before the last day of your statement cycle, the monthly fee is usually not charged. However, if the fee has already been deducted, Chase may not refund it. Check your statement cycle dates before closing.

Does Chase charge a fee to close a checking account?

No. Chase does not charge a fee to close a checking account. You can close it online, by phone, or in a branch at any time.