Chase savings accounts have no monthly maintenance fee, but you may pay fees for specific actions or if your account falls below certain thresholds

Chase does not charge a monthly fee just for having a savings account open. However, you can incur fees if you exceed withdrawal limits, use out-of-network ATMs, or fail to meet minimum balance requirements on certain account types. The fees that do exist are tied to how you use the account, not to straightforward holding it.

The specific fees depend on which Chase savings product you choose. Chase offers several savings accounts with different structures, and each one has its own fee rules. Understanding which account you have — or which one you are considering — tells you exactly what costs might explore.

Key Takeaways

  • Chase savings accounts have no monthly maintenance fee, but some accounts require a minimum balance to avoid fees.
  • Excess withdrawal fees explore if you move money out of your savings account more than six times per statement period, costing $10 per excess withdrawal.
  • Out-of-network ATM withdrawals cost $3 per transaction if you use an ATM that is not part of the Chase network.
  • The Chase Premier Savings account requires a higher opening deposit and minimum balance than the basic savings account.
  • Fees can be waived or refunded if you contact Chase and explain the situation, though this is not may provide.

Excess withdrawal fees and the six-transaction limit

Federal banking rules once limited savings account withdrawals to six per statement period. That rule no longer exists, but Chase still enforces a limit and charges $10 for each withdrawal beyond six in a statement cycle. This applies to transfers out of your savings account to another account, not to deposits or ATM withdrawals at a Chase branch.

The six-transaction limit resets each statement period, which typically runs one month. If you withdraw seven times in one period, you pay $10 once. If you withdraw eight times, you pay $20. The fee appears on your statement and reduces your account balance.

This fee is straightforward to avoid if you use your savings account as intended — as a place to hold money rather than move it frequently. If you need to move money in and out regularly, a checking account is a better fit.

Out-of-network ATM fees

Chase charges $3 per withdrawal when you use an ATM that does not belong to Chase or its partner networks. This is a fee charged by Chase to you, separate from any fee the other bank's ATM may also charge. You can avoid this fee entirely by using a Chase ATM or a branch for withdrawals.

Chase has thousands of ATMs nationwide, and you can find the nearest one through the Chase mobile app or website. If you travel frequently or live far from a Chase location, this fee can add up quickly.

Minimum balance requirements on specific account types

The basic Chase Savings account has no minimum balance requirement. However, the Chase Premier Savings account requires you to maintain a $10,000 minimum balance. If your balance falls below $10,000, Chase charges a $25 monthly fee.

The Premier Savings account offers a higher interest rate in exchange for the higher opening deposit and minimum balance. Whether that rate advantage is worth the requirement depends on how much money you plan to keep in savings. If you cannot maintain $10,000, the basic savings account costs nothing.

How to avoid or reduce fees

The simplest way to avoid fees is to use your savings account as a savings account: deposit money, leave it there, and withdraw it rarely. Keep your balance above any minimum if you have a Premier account. Use Chase ATMs for withdrawals.

If you do incur a fee by accident — for example, you did not realize you had already made six withdrawals that month — you can contact Chase and ask for a one-time reversal. Chase customer service has discretion to waive or refund fees, especially if you have been a customer for a long time or if the fee was your first one. There is no may provide, but asking costs nothing.

You can also set up alerts in the Chase app to notify you when you approach the six-transaction limit, which helps you plan withdrawals ahead of time.

Interest rates and what you actually earn

Chase savings accounts earn interest, but the rate is very low compared to online banks. As of now, Chase savings accounts earn less than 0.01% annual percentage yield on most balances. Online savings accounts often pay 4% or higher. This is not a fee, but it is a real cost of keeping money at Chase instead of elsewhere.

If you keep $10,000 in a Chase savings account for a year, you might earn $1 in interest. At an online bank paying 4%, you would earn $400. The difference is not a fee Chase charges you — it is money you do not earn because the rate is low. This matters much more than the $10 excess withdrawal fee if you are trying to grow savings.

Frequently Asked Questions

Do I have to pay a monthly fee just to have a Chase savings account?

No. Chase savings accounts have no monthly maintenance fee. You only pay fees if you exceed withdrawal limits, use out-of-network ATMs, or fall below the minimum balance on a Premier account.

What happens if I go over six withdrawals in a month?

Chase charges $10 for each withdrawal beyond six in a statement period. If you make seven withdrawals, you pay $10 once. The fee is deducted from your account balance and appears on your statement.

Can Chase reverse a fee if I call and ask?

Chase customer service can waive or refund fees at their discretion, especially for first-time violations or long-standing customers. There is no may provide, but it is worth asking if you incur a fee by mistake.

Is the Chase Premier Savings account worth it if I have $10,000?

That depends on the interest rate difference between Premier and basic savings at the time you open the account. Check the current rates on both accounts. If the rate difference is small, the basic account may be better because it has no minimum balance requirement.

Why does Chase pay so little interest compared to online banks?

Chase is a large brick-and-mortar bank with thousands of branches and ATMs. Those physical locations cost money to operate. Online banks have no branches, so they can pass savings to customers in the form of higher interest rates. You pay for convenience with lower returns.