The main fees Chase charges on savings accounts and how to prevent them

Chase savings accounts charge three main fees, and you can avoid all of them by meeting straightforward requirements. The monthly maintenance fee (currently $5 on most Chase savings accounts) disappears if you keep a minimum balance — usually $300 to $500 depending on the account type — or set up a direct deposit. The overdraft fee (currently $35 per overdraft) happens when you spend more than you have; you prevent this by monitoring your balance or linking a backup account. The out-of-network ATM fee (currently $2.50 per withdrawal) applies only when you use an ATM that is not Chase-owned; you avoid it by using Chase ATMs or requesting cash back at Chase branches or partner retailers.

The good news is that none of these fees are automatic. Each one has a straightforward way to prevent it, and most people who understand the rules never pay them. The rest of this guide walks through each fee, shows you exactly what triggers it, and tells you the easiest way to keep it from happening.

Key Takeaways

  • The $5 monthly maintenance fee goes away if you keep at least $300 to $500 in your account or receive a direct deposit each month.
  • Overdraft fees of $35 per transaction are prevented by keeping track of your balance and not spending money you do not have.
  • ATM fees of $2.50 per withdrawal only happen at non-Chase ATMs; use Chase ATMs, branches, or retailers that offer cash back instead.
  • Chase offers free tools like text alerts and online balance checks to help you stay aware of your account status.
  • If you do get charged a fee by mistake, Chase customer service will often reverse it if you ask within a reasonable time.

How the monthly maintenance fee works and how to waive it

Chase charges $5 per month to keep most savings accounts open. This fee posts automatically on a set day each month unless you meet one of two conditions. The first condition is maintaining a minimum daily balance. For Chase Savings and Chase Premier Savings, this is usually $300; for Chase Sapphire Savings, it is $10,000. The balance is checked at the end of each day, so you need to keep that amount in the account continuously throughout the month — a single day below the threshold does not waive the fee, but most people find this straightforward once they set it up.

The second condition is receiving a direct deposit of any amount at least once per month. Direct deposit means money transferred automatically from your employer, government agency, or another financial institution into your Chase account. If you have a job with regular paychecks, this is usually the easiest route. If you do not have an employer, you can use direct deposit from Social Security, a pension, unemployment benefits, or even transfers from another bank account set up as recurring. Chase does not publish a minimum amount, so even a small recurring transfer counts.

You can combine these two methods — for example, keep $200 in the account and set up a $50 monthly transfer from another bank. As long as one condition is met, the fee does not post. Check your account settings online or call Chase at 1-800-935-9935 to confirm which method you have set up.

Understanding overdraft fees and how to prevent them

An overdraft happens when you try to spend more money than you have in your account. Chase charges $35 for each overdraft transaction that goes through. For example, if your balance is $50 and you make a $75 debit card purchase, the purchase goes through, your balance becomes negative $25, and you are charged $35. If you make three overdraft transactions in one day, you pay $105 in fees.

The simplest way to prevent overdrafts is to check your balance before spending. Chase offers free tools to make this straightforward: you can set up text message alerts that notify you when your balance drops below a certain amount (like $100), check your balance anytime on the Chase mobile app or website, or ask a Chase teller to tell you your balance when you visit a branch. Many people set a personal rule to never let their balance drop below $50 or $100, which gives them a safety cushion.

A second layer of protection is overdraft protection, which links your savings account to another account (usually a checking account at Chase). If you overdraft your savings, Chase automatically transfers money from the linked account to cover it. This prevents the overdraft fee and the negative balance. You set this up in your Chase online account under "Account Services" or by calling Chase. There is no fee for overdraft protection itself, though your linked account may have its own fees.

Chase also offers an optional service called Chase Overdraft information, which gives you a small grace period and a lower fee structure if you overdraft. The details change, so ask Chase directly whether this is available on your account type and what it costs.

ATM fees and how to use Chase ATMs for free

Chase charges $2.50 each time you withdraw cash from an ATM that is not owned by Chase. This fee is charged by Chase, not by the other bank — you see it as a deduction from your account. If you use a non-Chase ATM four times a month, that is $10 in fees.

The easiest solution is to use Chase ATMs. Chase has over 16,000 ATMs across the United States, and using any of them is free. You can find the nearest one using the Chase mobile app or the ATM locator on Chase.com. If you live or work near a Chase branch, there is usually an ATM in or just outside the building.

If you do not have a Chase ATM nearby, you have other free options. You can withdraw cash at any Chase branch during business hours — no fee, and you can ask for any amount. You can also get cash back at many retailers when you make a debit card purchase: grocery stores, pharmacies, and convenience stores usually offer this for free. Some people use this method regularly and never visit an ATM.

Chase also participates in the MoneyPass network, which includes ATMs at many independent banks and credit unions. Using a MoneyPass ATM is free for Chase customers. The Chase app shows you which ATMs are in the MoneyPass network, so you can plan ahead if you know you will need cash.

What to do if you are charged a fee by mistake

If you are charged a fee and believe it was a mistake — for example, you thought you had overdraft protection set up, or your direct deposit did not go through — contact Chase customer service. Call 1-800-935-9935 or visit a branch in person. Explain what happened and ask them to review the fee.

Chase does not have a published policy on fee reversals, but customer service representatives have the ability to reverse fees in many situations, especially if it is your first time or if there was a misunderstanding about how the account works. If you have been a customer for a while and have a good account history, you have a better chance of getting a fee reversed. Even if they cannot reverse it, asking costs nothing and takes a few minutes.

If you are charged multiple fees in a short time, mention that to the representative. Sometimes Chase will reverse all of them if they see a pattern that suggests a problem with how you were informed about the account or how a service was set up.

Choosing the right Chase savings account to minimize fees

Chase offers several savings account types, and the fees and minimum balances differ. Chase Savings has a $5 monthly maintenance fee waived with a $300 minimum balance or direct deposit. Chase Premier Savings also has a $5 fee waived with $300 minimum balance or direct deposit, but it offers slightly higher interest rates if you maintain a larger balance. Chase Sapphire Savings has a $5 fee waived with a $10,000 minimum balance or direct deposit, and it also pays higher interest.

If you cannot maintain a $300 minimum balance and do not have direct deposit, Chase Savings will cost you $60 per year in maintenance fees. In that case, consider whether a different bank might be a better fit, or whether you can set up a small recurring transfer from another account to trigger the direct deposit waiver. Some people open a Chase checking account (which has no monthly fee) and use that as their main account, keeping the savings account only for long-term savings where the $300 minimum is straightforward to maintain.

Check the current fee schedule on Chase.com or ask in a branch, because Chase occasionally changes fees and minimum balance requirements. The amounts listed here were current as of the time this guide was written, but you should confirm the exact numbers for your account type before making a decision.

Tools Chase offers to help you track your account and avoid fees

Chase provides several free tools built into the mobile app and website that make it much easier to avoid fees. Balance alerts send you a text message or app notification when your balance drops below a number you choose. Transaction alerts notify you when a large purchase posts or when a direct deposit arrives. Spending insights show you where your money is going each month, which helps you plan and avoid overdrafts.

The Chase mobile app also shows you the nearest Chase ATM and branch in real time, which is useful if you need cash and want to avoid ATM fees. You can deposit checks by taking a photo with your phone, which means you do not have to visit a branch to deposit money. All of these features are free and do not require any special account type.

If you prefer not to use the app, you can also set up alerts by phone or manage your account on Chase.com using a computer. The tools work the same way regardless of how you access them.

Frequently Asked Questions

Can I get a Chase savings account with no monthly fee?

Chase does not offer a savings account with zero monthly maintenance fee. However, the $5 monthly fee is waived if you keep a $300 minimum balance or receive a direct deposit, which most people find straightforward to do. If you want a savings account with no conditions, you may want to compare Chase to other banks, though many banks charge similar fees.

What counts as a direct deposit for waiving the monthly fee?

Direct deposit means an automatic transfer of money into your account from an employer, government agency, or another financial institution. Paychecks, Social Security, unemployment benefits, and recurring transfers from another bank all count. Chase does not publish a minimum amount, so even a small monthly transfer qualifies. Transfers you initiate yourself from your own other accounts usually count as well.

If I link overdraft protection, will I get charged a fee?

Overdraft protection itself is free. When you overdraft, Chase transfers money from your linked account to cover it, and you avoid the $35 overdraft fee. However, your linked account may have its own fees if the transfer causes it to go below a minimum balance. Check the terms of both accounts before setting it up.

Do I get charged a fee if my balance goes negative for just one day?

Yes. For the monthly maintenance fee, your balance is checked at the end of each day. If it drops below the minimum (usually $300) for even one day, you do not waive the fee that month. For overdraft fees, you are charged $35 for each transaction that overdrafts your account, regardless of how long the account stays negative.

Can Chase reverse a fee if I call and ask?

Chase customer service has the ability to reverse fees in many situations, especially if it is your first time, if there was a misunderstanding about how the account works, or if you have been a long-time customer with a good history. There is no may provide, but it is worth asking if you believe a fee was charged in error or due to a miscommunication.