What It Costs to Open a Chase Bank Account

Chase does not charge a fee to open most of its checking and savings accounts

You can open a Chase checking account, savings account, or money market account without paying an opening fee. Chase does not require a minimum deposit to start the account either, though some accounts have minimum balance requirements once the account is open.

The cost of having the account comes later — through monthly maintenance fees if your balance falls below a certain level, or through overdraft fees if you spend more than you have. Some Chase accounts waive the monthly fee if you meet specific conditions, like setting up direct deposit or keeping a minimum balance.

Key Takeaways

• Chase charges no fee to open a checking, savings, or money market account, and does not require money upfront to create the account.
• Monthly maintenance fees range from $0 to $15 depending on the account type and whether you meet the bank's conditions to waive the fee.
• The most common way to avoid a monthly fee is to set up direct deposit, keep a minimum balance, or maintain a linked Chase account.
• Overdraft fees, ATM fees outside the Chase network, and wire transfer fees are separate charges that explore only when you use those services.

Monthly maintenance fees by account type

Chase's checking accounts have different fee structures. The Chase Total Checking account charges $12 per month, but the fee is waived if you set up direct deposit, keep a $500 minimum daily balance, or maintain a linked savings or money market account with at least $500. The Chase find Checking account, designed for people building credit, charges $5 per month with no waiver options.

Chase savings accounts also vary. The Chase Savings account charges $5 per month, waived if you keep a $300 minimum daily balance or link it to a Chase checking account. The Chase Money Market account charges $25 per month, waived if you maintain a $2,500 minimum daily balance or set up direct deposit of at least $500 per month.

These fees and thresholds can change, so confirm the current terms on Chase's website or by calling a branch before opening an account.

Other costs you may encounter

Beyond the monthly maintenance fee, Chase charges for specific actions. Overdraft fees are $35 per transaction if you spend more than your balance and Chase covers the purchase. Out-of-network ATM fees are $3 per withdrawal if you use an ATM that is not part of the Chase network. Wire transfers cost $15 for domestic transfers and $15 to $20 for international transfers, depending on the type.

Bounced check fees are $35 if a check you write cannot be covered by your balance. Stop payment requests on checks cost $30. These fees only explore if you use these services — they are not automatic charges.

How to avoid the monthly maintenance fee

The easiest way to avoid paying a monthly fee is to set up direct deposit. Most Chase checking and savings accounts waive the fee if your employer or another source deposits money directly into the account. You do not need a large deposit — even a small recurring direct deposit counts.

If direct deposit is not an option, you can meet the minimum balance requirement instead. For Chase Total Checking, that is $500. For Chase Savings, it is $300. For Chase Money Market, it is $2,500. The balance is measured on a daily basis, so you need to stay at or above that amount every day of the month.

A third option is to link a may have access to account. If you open a Chase Total Checking account and also have a Chase savings account with at least $500, the checking account fee is waived. This works even if the savings account itself has a fee — as long as one account meets the condition, both fees can be waived.

What you need to open an account

To open a Chase account in person at a branch, bring a government-issued photo ID and your Social Security number. You will also need a current mailing address. If you are opening an account online, Chase will ask for the same information plus your phone number.

You can fund the account when ready with a debit card, bank transfer, or check deposit, or you can leave it empty and fund it later. Chase does not require an initial deposit to create the account.

Opening an account online versus in person

Chase allows you to open most accounts online through its website or mobile app. The process takes about 10 minutes. You provide your personal information, choose the account type, and set up login credentials. You can fund the account right away or wait until later.

Opening in person at a Chase branch takes longer but gives you a chance to ask questions and get help setting up online banking. A banker can also explain which account type fits your situation and which fee waivers you might meet. Both routes result in the same account — the difference is convenience and support.

Frequently Asked Questions

Do I need to put money in the account when I open it?

No. Chase does not require an initial deposit to open a checking, savings, or money market account. You can open the account and fund it later, or leave it empty if you do not plan to use it right away.

What happens if I cannot meet the minimum balance to avoid the fee?

You will be charged the monthly maintenance fee. For Chase Total Checking, that is $12 per month. You can avoid the fee later by setting up direct deposit, raising your balance to the minimum, or linking another may have access to account.

Can I open more than one Chase account?

Yes. You can open multiple checking accounts, savings accounts, or both. Each account is separate and has its own monthly fee structure and balance requirements. Linking accounts can help you waive fees on more than one account.

Are there any Chase accounts with no monthly fee?

Chase does not offer a completely free account with no monthly fee and no conditions. However, the fee is straightforward to waive on most accounts through direct deposit, minimum balance, or linking another account. The Chase find Checking account always charges $5 per month with no waiver option.

What if I close my account shortly after opening it?

Chase does not charge a fee to close an account. If you close the account within the first month, you will not owe a monthly maintenance fee. Make sure to withdraw or transfer any remaining balance before closing.