You can upgrade your Chase checking account by opening a new account type and moving your money over, but Chase does not automatically convert one account into another
Chase offers several checking account tiers — basic accounts like Chase Total Checking, premium accounts like Chase Sapphire Checking, and business accounts if you need them. If you want to move from one to another, you open the new account, transfer your balance, set up your direct deposits and automatic payments to the new account number, and then close the old one. Chase will not do this for you automatically, and the process takes a few days because your old account needs to stay open long enough for pending transactions to clear.
The reason you might want to upgrade is usually one of three things: you want higher interest on your balance, you want to waive the monthly fee by meeting a higher deposit requirement, or you want perks like fee waivers on overdrafts or ATM charges. Before you open a new account, check whether you actually may have access to for the benefits you are chasing — some require a minimum daily balance, some require direct deposit, and some require you to link a savings account or credit card.
Key Takeaways
- Chase does not convert one checking account into another; you must open a new account and transfer your money yourself.
- Different Chase checking accounts have different monthly fees, interest rates, and requirements — read the fee schedule before you open anything new.
- You need to update your direct deposit, automatic bill payments, and any apps or services linked to your old account number before you close the old account.
- Keep your old account open for at least one to two weeks after you switch to catch any delayed transactions or recurring charges you may have missed.
- Chase will not charge you to open a new account, but you may face a fee if you close an account within a short time frame — check the current policy before you proceed.
What each Chase checking account offers and costs
Chase Total Checking is the entry-level account. It has a $12 monthly fee, but the fee is waived if you maintain a $500 minimum daily balance, set up direct deposit, or link a Chase savings account. It earns no interest on your balance. You get unlimited debit card transactions, online bill pay, and access to Chase ATMs and branches.
Chase Sapphire Checking is the premium tier. It has a $25 monthly fee, waived if you keep a $75,000 minimum daily balance or set up may have access to direct deposit. It earns interest on your balance — the rate varies and is currently low, but it is higher than Total Checking. You also get higher ATM fee reimbursement, priority customer service, and some travel perks if you have a Chase Sapphire credit card.
Chase also offers business checking accounts, student checking accounts, and accounts for people under 18. Each has different fees and requirements. Before you open a new account, pull up the current fee schedule on Chase's website or call 1-800-935-9935 to confirm the monthly fee, the balance requirement to waive it, and any other conditions that matter to you.
Steps to move your money to a new Chase checking account
Step 1: Open the new account. You can do this online, on the Chase mobile app, or at a branch. You will need your Social Security number, a government ID, and your current address. The account opens immediately, and you will get a new account number. You can start using it right away, but your debit card will arrive in the mail in five to seven business days.
Step 2: Transfer your balance from the old account to the new one. Log into Chase online or the app, go to Transfers, and move money from your old account to your new one. This is instant if both accounts are at Chase. You can transfer as much as you want, but do not empty the old account yet — leave enough to cover any pending transactions.
Step 3: Update your direct deposit. Contact your employer's payroll department or the organization that pays you and give them your new account number and routing number. This usually takes one to two pay periods to take effect. Until it does, your paycheck will still go to the old account.
Step 4: Update automatic bill payments. Log into each service you pay automatically — utilities, insurance, subscriptions, loan payments — and change the account number to your new one. Do this for everything: credit card payments, mortgage or rent, phone bills, streaming services. Missing one can cause a payment to fail or bounce.
Step 5: Wait two weeks, then close the old account. Keep the old account open while pending transactions clear and while your direct deposit is switching over. After two weeks, check the old account balance. If it is zero and no new transactions have posted, you can close it. You can close it online, on the app, or by calling Chase. You will not be charged to close it, but check the current policy — Chase has occasionally charged a fee for closing accounts opened and closed within a short window.
When you should not upgrade right away
If you have pending transactions, automatic payments set to your old account, or a direct deposit that has not switched yet, do not close your old account. A payment can take three to five business days to clear, and if your old account is closed when it arrives, it will bounce. You will face an overdraft fee on the old account (if it is still open) or a returned-payment fee from whoever you owe money to.
If you opened your current Chase account less than 90 days ago, check whether there is an early-closure fee. Chase's policy varies, so call 1-800-935-9935 to ask. Some accounts have a $25 fee if you close them within 90 days of opening; others do not. If there is a fee, weigh whether the benefits of upgrading are worth paying it.
If you are trying to upgrade to waive a monthly fee, make sure you actually meet the requirement. For example, if you are upgrading to Sapphire Checking to get the fee waived by direct deposit, but your employer does not offer direct deposit, you will need to maintain the $75,000 balance instead. If you cannot do that, you will pay the $25 fee every month, and upgrading will cost you money.
What happens to your old account after you close it
Once you close your old Chase checking account, you cannot use it anymore. Your debit card will stop working. Any recurring payments or direct deposits still pointing to that account will fail. You will not be able to log into it online or see its history — though Chase keeps records for your tax and legal protection.
If a check you wrote clears after you close the account, Chase will honor it as long as it arrives within six months. If a transaction posts after closure, Chase will attempt to process it, but if your account has no balance, it will bounce and you will owe a fee to whoever you owe money to.
Frequently Asked Questions
Can I upgrade my Chase checking account without opening a new one?
No. Chase does not convert one account type into another. You must open a new account and transfer your money. However, you can downgrade to a lower-tier account by calling Chase, and they may be able to change your account type without requiring you to open a new one — ask when you call.
Will I lose my account history if I close my old account?
You will not be able to see your old account online after you close it, but Chase keeps records for seven years for tax and legal purposes. If you need a statement or transaction history, you can request it from Chase even after the account is closed.
What if I forget to update a bill payment before I close my old account?
The payment will fail and bounce. You will owe a returned-payment fee to the company you were supposed to pay, and possibly an overdraft fee from Chase if your old account is still open. Call the company immediately, give them your new account number, and ask them to resubmit the payment.
How long does it take to switch to a new Chase checking account?
Opening the new account is instant. Transferring your balance is instant. Updating direct deposit takes one to two pay periods. Updating bill payments depends on how many you have, but you should do it all before you close the old account. Plan on two to three weeks total before you close the old one.
Will Chase charge me to open a new checking account?
No. Opening a Chase checking account is free. You will not pay an account-opening fee. However, you will start paying the monthly fee for your new account type immediately unless you meet the waiver requirement (like maintaining a minimum balance or setting up direct deposit).