Chase charges monthly service fees on most checking and savings accounts, but the amount depends on the account type and whether you meet waiver requirements

Chase's most common checking account, the Chase Total Checking, carries a $12 monthly service fee. However, you can waive it by maintaining a minimum daily balance of $500, setting up direct deposit, or keeping a linked savings account with at least $500 in it. If none of those apply to you, you pay the $12.

Chase also offers Chase Secure Checking with a $4.95 monthly fee (waived with a $500 minimum balance) and Chase Premier Plus Checking at $25 per month (waived with a $15,000 minimum balance or $25,000 in linked accounts). Savings accounts typically have no monthly fee, though some money market accounts do charge fees if your balance drops below a threshold.

The key is that Chase does not charge you a fee if you meet one of the waiver conditions. Most people either maintain the balance or set up direct deposit from an employer or government benefit, which makes the fee disappear.

Key Takeaways

  • Chase Total Checking costs $12 per month unless you maintain a $500 minimum balance, set up direct deposit, or link a savings account with $500 in it.
  • Chase Secure Checking is $4.95 per month with a $500 balance waiver, and Chase Premier Plus Checking is $25 per month with higher balance or linked account requirements.
  • Savings accounts at Chase do not charge monthly fees, but some money market accounts have minimums that trigger fees if your balance falls below a set amount.
  • Direct deposit from your employer or a government program (Social Security, unemployment, tax refunds) counts toward waiving the checking account fee.

How Chase calculates the minimum balance requirement

Chase measures the minimum balance as your daily balance, not an average. This means if you have $600 in your account on Monday and $400 on Tuesday, you have fallen below the $500 minimum on Tuesday and the fee applies for that month. Some people keep a small buffer to avoid dipping below the threshold by accident.

The balance requirement applies to the specific account only. If you have a Chase checking account and a Chase savings account, the $500 in your savings counts toward waiving the checking fee only if you have linked them. Linking is free and takes a few minutes in the Chase mobile app or online banking portal.

What counts as direct deposit for fee waiver purposes

Direct deposit means money is transferred electronically from an employer's payroll system or a government agency directly into your Chase account. This includes paychecks, Social Security payments, unemployment benefits, tax refunds, and pension payments. A single direct deposit per month is usually enough to waive the fee, though Chase's terms say "one or more" deposits, so the exact threshold can vary by account type.

Transfers you initiate yourself—moving money from another bank account to Chase, or depositing a check through mobile deposit—do not count as direct deposit. Neither do ATM deposits or deposits at a Chase branch. The deposit has to come from the employer or government agency's system directly.

Overdraft and out-of-network ATM fees

The monthly service fee is separate from overdraft fees and ATM fees. If you overdraw your account (spend more than you have), Chase charges $35 per overdraft transaction. You get one free overdraft per year if you have overdraft protection linked to a savings account or credit card, but after that you pay the full amount.

Using an ATM that is not part of the Chase network costs $3.50 per withdrawal. Chase has thousands of ATMs nationwide, so this fee is avoidable if you plan ahead. Some checking accounts come with ATM fee reimbursement, but that is not standard across all Chase accounts.

How to avoid or reduce Chase fees

The simplest way to avoid the monthly service fee is to set up direct deposit. If your employer or a government program already sends money to your account, you are likely already waiving the fee without doing anything. You can check your account settings in the Chase app to confirm whether direct deposit is active.

If direct deposit is not an option, maintain the minimum balance. For Total Checking, that is $500. For Secure Checking, also $500. For Premier Plus, it is $15,000 in the checking account or $25,000 across linked accounts. Linking a savings account with $500 in it also works for Total Checking and Secure Checking.

If you cannot meet the balance requirement and do not have direct deposit, consider switching to a different bank. Many online banks and credit unions offer checking accounts with no monthly fee and no minimum balance. Chase's fee structure is designed to reward customers who either have steady income or maintain savings, but it is not the only option available.

Fees on savings and money market accounts

Chase savings accounts do not charge a monthly maintenance fee. However, Chase Money Market accounts do charge a $25 monthly fee if your balance falls below $2,500. If you keep $2,500 or more in the account, the fee is waived.

Savings accounts at Chase earn interest, though the rate is typically lower than what online banks offer. As of now, Chase savings rates are well below 1% APY, while some online banks pay 4% or higher. If you are saving money for the long term, comparing rates across banks is worth your time.

What happens if you cannot waive the fee

If you do not meet any of the waiver conditions, Chase deducts the monthly fee from your account on a set date each month. The fee comes out automatically, so you do not have to do anything—it just happens. Over a year, a $12 monthly fee adds up to $144.

If your account balance is too low to cover the fee, Chase may charge an overdraft fee on top of it. This can create a cycle where fees pile up quickly. If this is happening to you, contact Chase customer service and ask whether they can waive a fee as a one-time courtesy, especially if you have been a customer for a long time. They sometimes do, though there is no may provide.

Frequently Asked Questions

Can I switch to a different Chase account to avoid the fee?

Chase Secure Checking is cheaper at $4.95 per month, but it still has a fee. If you want no monthly fee at all, you would need to switch to a different bank. Chase does not offer a free checking account with no strings attached.

Does the $500 minimum balance have to stay in checking, or can I move it to savings?

The $500 has to be in the account that is being charged the fee. For Total Checking, the $500 can be in the checking account itself or in a linked savings account. If you move all your money out of checking, the fee applies even if you have $5,000 in savings.

If I set up direct deposit, do I need to keep the minimum balance too?

No. Direct deposit alone waives the fee. You do not need to maintain a $500 balance if direct deposit is active. However, if direct deposit stops (you change jobs or lose benefits), the fee comes back unless you then meet the balance requirement.

What if I only use Chase for ATM access and keep my money elsewhere?

You would still be charged the monthly service fee on the checking account, even if you rarely use it. If you only want ATM access, ask Chase whether they offer a no-fee account for that purpose, or consider a bank that reimburses out-of-network ATM fees.

Does Chase charge fees on accounts for minors?

Chase offers a Chase First Banking account for minors with no monthly fee. Once the account holder turns 18, it typically converts to a standard Chase checking account, which then carries the monthly fee unless you meet a waiver condition.