Chase savings accounts have no monthly maintenance fee

Chase does not charge a monthly fee to hold a Chase savings account. You can open an account, keep money in it, and never pay a maintenance charge based on time or account status alone.

However, Chase does charge fees for specific actions or situations. Understanding which ones apply to you depends on the account type you choose and how you use it.

Key Takeaways

  • Chase savings accounts have no monthly maintenance fee, regardless of balance or account activity.
  • You can be charged for overdrafts, excessive withdrawals, wire transfers, and stopping payment on checks.
  • The amount of each fee varies by account type — Chase has multiple savings products with different fee structures.
  • Most fees can be avoided by staying within withdrawal limits, maintaining a positive balance, and using free transfer methods.

Fees you might pay on a Chase savings account

Overdraft fees occur when you withdraw more money than you have in the account. Chase charges an overdraft fee if your account goes negative, even by a small amount. The fee amount depends on your account type and state, but typically ranges from $25 to $35 per overdraft event.

Excessive withdrawal fees apply if you make more than a certain number of withdrawals or transfers in a statement period. Federal rules historically limited savings withdrawals to six per month, though this rule was suspended. Chase may still charge a fee if you exceed their internal limits — check your account agreement or call to confirm the current limit for your specific account.

Wire transfer fees are charged when you send money out of your account via wire. Outgoing domestic wire transfers typically cost $15 to $20. Incoming wires are usually free.

Stop payment fees apply if you ask Chase to stop payment on a check you wrote. This fee is typically $30 to $35 per request.

Account research fees are charged if you ask Chase to investigate a transaction or provide copies of old statements. These are uncommon unless you request extensive research.

Which Chase savings account you choose matters

Chase offers multiple savings products, and fee structures differ between them. The most common are Chase Savings, Chase Premier Savings, and Chase Sapphire Savings.

Chase Savings is the basic option with no monthly fee. Chase Premier Savings requires a higher minimum balance but may offer slightly different fee terms. Chase Sapphire Savings is linked to the Sapphire credit card and has its own fee schedule.

Before opening an account, ask a Chase representative or review the account agreement to confirm which fees apply to the specific product you are considering. Fee amounts and thresholds can change, and they vary by state.

How to avoid fees on your Chase savings account

Keep your account balance above zero at all times. This prevents overdraft fees entirely. If you are worried about accidentally going negative, set up a transfer from a checking account to cover any shortfalls.

Stay within withdrawal limits. Most savings accounts allow a certain number of free withdrawals or transfers per month. Use the ATM or mobile app to check how many you have left, or call Chase to confirm the limit for your account type.

Use free transfer methods. Chase offers free transfers between your own accounts through the mobile app or online banking. Avoid wire transfers unless necessary, since those carry a fee.

Do not request stop payments on checks unless absolutely necessary. If you need to cancel a check, ask the recipient to return it instead.

What happens if you are charged a fee you did not expect

Call Chase customer service and explain the situation. If the fee was charged in error, or if you have been a customer in good standing, Chase may reverse it as a courtesy — especially if it is your first time asking.

If you were charged an overdraft fee because of a timing issue (a deposit posted later than expected, for example), mention that when you call. Chase sometimes reverses overdraft fees when the cause was outside your control.

Keep records of any fees charged. If you see a pattern of unexpected fees, ask Chase to review your account settings or explain the fee policy for your specific account type.

Comparing Chase savings to other banks

Many online banks offer savings accounts with no monthly fee and no overdraft fees at all, since they do not offer overdraft protection. However, online banks typically pay higher interest rates on savings balances.

If you value in-person branch access and Chase's convenience, the lack of a monthly maintenance fee makes it competitive. If you prioritize interest earnings on your savings, comparing rates across Chase and online banks is worth the time.

Some credit unions also offer savings accounts with lower or no fees. If you are a member of a credit union, check their fee schedule before opening a Chase account.

Frequently Asked Questions

Can I avoid overdraft fees by linking my Chase savings to a checking account?

Chase offers overdraft protection, which can transfer money from a linked account to cover a shortfall. However, this transfer itself may trigger a fee. Ask Chase whether overdraft protection transfers are free on your account type, or whether they charge a transfer fee each time it happens.

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

No. Chase does not charge a fee to close a savings account. You can close it online, through the app, or by calling customer service. If you have a balance, Chase will send it to you or transfer it to another account you specify.

What is the minimum balance required to avoid fees?

Chase Savings has no minimum balance requirement and no monthly fee. Other Chase savings products, like Premier Savings, may have minimum balance requirements — check your account agreement or ask a representative for the specific product you opened.

If I do not use my savings account for months, will I be charged?

No. Inactivity does not trigger a fee. Your account will remain open and fee-free as long as you do not overdraft or exceed withdrawal limits. However, if your account sits unused for an extended period, Chase may eventually close it — contact them if you plan a long absence.

Are there fees for depositing money into my Chase savings account?

No. Deposits are always free, whether you use an ATM, mobile app, branch, or transfer from another account. Chase does not charge for money coming in.