Chase's checking accounts charge a monthly fee unless you meet one straightforward requirement

Chase's main checking accounts—Chase Total Checking and Chase Premier Plus Checking—charge a monthly fee of $12 and $25 respectively, but you can waive it entirely by keeping a minimum balance or setting up direct deposit. The fee does not explore if you maintain the required balance in your account at all times, or if you receive a may have access to direct deposit each month. Most people find the direct deposit route easier because the balance requirement is high enough that it ties up money you might otherwise use.

The specific requirement depends on which account you hold. Total Checking requires either a $500 minimum daily balance or one direct deposit per month of any amount. Premier Plus Checking requires either a $10,000 minimum daily balance or one direct deposit per month. If you do neither, the fee posts automatically on the last day of each statement period.

Key Takeaways

  • Chase Total Checking waives its $12 monthly fee if you keep $500 in the account at all times or receive one direct deposit monthly.
  • Chase Premier Plus Checking waives its $25 monthly fee if you keep $10,000 in the account at all times or receive one direct deposit monthly.
  • Direct deposit is the easiest waiver method for most people because the balance requirement is otherwise high enough to lock up money you need to spend.
  • The balance is checked daily, so dropping below the minimum even once during a statement period does not waive the fee for that month.
  • If you are paid by your employer or receive regular income from another source, setting up direct deposit takes about five minutes and costs nothing.

How the direct deposit waiver works

A direct deposit is a transfer of money from another institution straight into your Chase account on a recurring schedule. Your employer's payroll system, a government benefits program, or a pension fund can all initiate direct deposits. Chase counts any direct deposit that lands in your account during the statement period—it does not matter how much money arrives, and it does not matter how many times it happens.

To set up direct deposit from your employer, you need your Chase account number and routing number. You can find both on a check, or by logging into your Chase account online and looking under account details. Give these to your employer's payroll or HR department, and they will handle the rest. The first deposit usually arrives within one to two pay periods. Once it lands, the fee waiver applies automatically to that statement period and every month after, as long as the deposits keep coming.

If you receive Social Security, unemployment, tax refunds, or other government payments, you can set up direct deposit through the government agency's website. The process is the same: provide your account and routing number, and the payments will arrive on schedule. Government direct deposits are often the most reliable because they happen on the same day every month.

How the minimum balance waiver works

The balance requirement is checked every day. If your account balance drops below the minimum even once during the statement period, you do not waive the fee for that month. For Chase Total Checking, that minimum is $500. For Premier Plus Checking, it is $10,000. The balance includes all the money in the account—checking, savings, and money market accounts linked to your Chase profile do not count toward it.

This method works best if you have money sitting in the account that you do not plan to spend. Many people use it as a way to keep an emergency fund in a checking account while avoiding the fee. However, if you live paycheck to paycheck or spend most of what you earn, the balance will drop below the minimum regularly, and you will pay the fee most months.

If you choose the balance route, set up a low-balance alert in your Chase mobile app or online banking. You can tell Chase to notify you when your balance falls below a certain amount—set it slightly above the minimum so you have time to move money in before the fee posts.

What happens if you pay the fee by mistake

If the fee posts to your account and you did not intend to pay it, you can contact Chase and ask for a reversal. Call the number on the back of your debit card or visit a branch in person. Chase does not automatically reverse fees, but they will often do it once if you explain that you thought you had met the waiver requirement. The success rate depends on your account history and how long you have been a customer, but it is worth asking.

If the fee posts repeatedly because you keep missing the requirement, Chase will not reverse it again. At that point, you should either switch to a different account type or move to a bank that does not charge monthly fees. Many online banks and credit unions offer checking accounts with no monthly fee and no minimum balance.

When to switch to a different Chase account or bank

If you cannot maintain the $500 balance or set up direct deposit, Chase Total Checking is costing you $144 per year. If you cannot maintain the $10,000 balance or set up direct deposit, Premier Plus Checking is costing you $300 per year. At that point, switching makes financial sense.

Chase offers Chase find Checking, which has no monthly fee and no minimum balance requirement, but it comes with a debit card that has limited features and no overdraft protection. It is designed for people who have had banking problems in the past. If you have a clean banking history, you may not be offered this account, or you may not want the restrictions it comes with.

Many online banks—including Ally, Charles Schwab, and Discover—offer checking accounts with no monthly fee, no minimum balance, and no direct deposit requirement. They also typically pay interest on your balance, which Chase does not. The trade-off is that you cannot deposit cash or visit a physical branch. If you rarely need to deposit cash, an online bank is usually the cheapest option.

Frequently Asked Questions

Does a transfer from another bank count as a direct deposit?

No. A direct deposit must be initiated by the sending institution—your employer, a government agency, or a pension fund. A transfer you set up yourself from another bank does not count. Chase distinguishes between the two because direct deposits are recurring and predictable, while transfers can be one-time or irregular.

What if I get paid twice a month—does that count as two direct deposits?

Yes, but you only need one to waive the fee. Chase requires one direct deposit per statement period, not one per pay period. If you are paid twice a month, both deposits will land in the same statement period, and the fee will be waived. If you are paid once a month, that single deposit is enough.

Can I use a spouse's or family member's direct deposit to waive my fee?

No. The direct deposit must land in the account that is being charged the fee. If your spouse has a separate Chase account, their direct deposit will not waive the fee on your account. You can set up a joint account if you want to combine income, but that is a separate decision from the fee waiver.

If I close my Chase account, do I owe the monthly fee for the current month?

Chase will charge the fee on the last day of the statement period, even if you close the account before that date. If you want to avoid the fee, close the account before the fee posts. Check your statement to see when your statement period ends, and close before that date if you have not met the waiver requirement.

Does the $500 or $10,000 minimum have to be in checking, or can it be in savings?

The balance requirement applies only to the checking account itself. Money in a linked savings account or money market account does not count. If you want to use the balance waiver, you need to keep the full amount in the checking account where the fee is being charged.