Chase checking accounts have no required minimum balance to open or maintain most accounts

Chase does not require you to keep a minimum balance in most of their checking accounts. You can open an account with any amount of money, deposit $1, and keep it there without penalty. The account will stay open and active as long as you use it at least once every 12 months.

However, some Chase accounts do have minimum balance requirements if you want to earn interest or avoid a monthly fee. The specifics depend on which type of checking account you choose. Understanding the difference between these accounts matters because it affects what you pay and what you earn.

Key Takeaways

  • Chase Total Checking and Chase find Checking have no minimum balance requirement to open or maintain the account.
  • Chase Premier Plus Checking requires a $25,000 minimum balance to avoid a $25 monthly fee, though the fee is waived if you meet the balance or set up direct deposit.
  • Some accounts waive monthly fees through direct deposit instead of maintaining a minimum balance, giving you an alternative way to avoid charges.
  • Inactivity for 12 months or longer can result in your account being closed, regardless of the balance you hold.

Chase Total Checking: No minimum balance, no monthly fee

Chase Total Checking is the most common account Chase offers. It has no minimum balance requirement and no monthly maintenance fee. You can open it with $0 and never deposit another dollar if you choose, though the account will close if you do not use it for 12 months.

This account includes a debit card, online banking, and the ability to deposit checks through your phone. You can also use Chase ATMs without a fee. If you use ATMs outside the Chase network, you will pay a fee for each transaction, though Chase will refund out-of-network ATM fees if you maintain a $500 minimum balance in a linked savings account.

Chase find Checking: For people building credit or new to banking

Chase find Checking also has no minimum balance requirement. This account is designed for people who are new to banking, rebuilding their credit, or do not have a credit history yet. Like Total Checking, it has no monthly fee and includes a debit card and online access.

The main difference is that Chase find Checking requires you to open a linked savings account and maintain a $500 minimum balance in that savings account. The savings account earns interest, though the rate is very low. If your balance in the savings account drops below $500, you will be charged a $5 monthly fee on the checking account.

Chase Premier Plus Checking: Higher balance requirement for premium features

Chase Premier Plus Checking is designed for customers who want premium banking services and have more money to deposit. This account has a $25,000 minimum balance requirement. If your balance falls below $25,000, you will be charged a $25 monthly fee.

However, you can avoid this fee in two ways: maintain the $25,000 minimum balance, or set up direct deposit of at least $500 per month. If you choose direct deposit, you do not need to keep any minimum balance at all. This account includes higher ATM refund limits, priority customer service, and other perks aimed at customers with larger accounts.

What happens if your balance drops below the minimum

If you have Chase Premier Plus Checking and your balance falls below $25,000, Chase will charge you a $25 monthly maintenance fee. This fee is taken directly from your account each month until your balance rises above $25,000 again or you set up direct deposit.

For Chase find Checking, if the linked savings account balance drops below $500, you will be charged a $5 monthly fee on the checking account. You can avoid this by transferring money back into the savings account to bring it above $500.

For Chase Total Checking, there is no minimum balance, so there is no fee to worry about. The only way to lose the account is to not use it for 12 months, at which point Chase will close it.

How to choose the right account for your situation

If you are new to banking or do not have much money to deposit, Chase Total Checking is the simplest choice. It has no minimum balance, no monthly fee, and no strings attached. Open it, use it, and you are done.

If you are rebuilding credit or want to earn a small amount of interest, Chase find Checking works if you can keep $500 in a linked savings account. The savings account earns interest, and the checking account has no minimum balance of its own.

If you have at least $500 per month coming in through direct deposit (from an employer or government benefit), Chase Premier Plus Checking may be worth considering even if you do not have $25,000 to deposit. The direct deposit waives the minimum balance requirement entirely, and you get access to premium features.

Frequently Asked Questions

Can I open a Chase checking account with no money?

Yes. Chase Total Checking and Chase find Checking both allow you to open with $0. You do not need an opening deposit. However, the account will close if you do not use it within 12 months.

What counts as using my account?

Using your account means making a deposit, withdrawal, transfer, or any other transaction. Even a small transfer between your own accounts counts. Logging into online banking without making a transaction does not count as use.

If I have direct deposit, do I still need to keep a minimum balance?

It depends on the account. With Chase Premier Plus Checking, direct deposit of at least $500 per month waives the $25,000 minimum balance requirement entirely. With Chase Total Checking and Chase find Checking, direct deposit is not required and does not affect the minimum balance rules.

Can Chase close my account if I keep a zero balance?

Chase can close your account if you do not use it for 12 months, regardless of the balance. However, if you use the account at least once per year, it will stay open even if the balance is $0.

Do I have to pay a fee to close my Chase checking account?

No. Chase does not charge a fee to close a checking account. You can close it online, by phone, or by visiting a branch. If you have pending transactions, Chase may ask you to wait until they clear before closing.