Chase HSA accounts do not charge a monthly maintenance fee
Chase does not impose a monthly fee to hold a Health Savings Account (HSA) with them. You will not see a recurring charge on your statement simply for having the account open. However, this does not mean the account is entirely free — there are other costs you may encounter depending on how you use it.
The absence of a monthly maintenance fee makes Chase competitive with other HSA providers. Many banks and financial institutions charge $2 to $5 per month just to maintain the account, so Chase's zero monthly fee is a genuine advantage if you are comparing providers.
Key Takeaways
- Chase HSA accounts have no monthly maintenance fee, so you will not be charged simply for keeping the account open.
- You may pay fees for specific transactions or services, such as wire transfers, overdrafts, or ATM withdrawals outside the Chase network.
- Investment fees apply if you move HSA funds into mutual funds or other investments through Chase, separate from the account maintenance cost.
- The fee structure depends on which Chase HSA product you hold, as Chase offers HSA accounts through different plan types.
Fees you might pay beyond the monthly maintenance charge
While Chase does not charge a monthly fee, other costs can apply to your HSA depending on your activity. Wire transfers typically cost $15 to $20 per outgoing transfer. Overdraft fees apply if your account goes negative, usually $35 per occurrence. ATM withdrawals outside the Chase network may incur a $2 to $3 fee per transaction.
These are not unique to HSAs — they are standard banking fees that apply to many Chase accounts. You can avoid most of them by using Chase ATMs, keeping a positive balance, and using ACH transfers instead of wires when possible.
Investment fees if you invest your HSA balance
If you move money from your HSA cash account into investments like mutual funds, Chase charges investment management fees. These fees vary depending on the fund you choose and typically range from 0.10% to 1% annually of the amount invested. This is a percentage of your balance, not a flat monthly charge.
Many people keep their HSA in cash and never invest it, so they never encounter these fees. If you do invest, the fee structure should be disclosed in the fund's prospectus before you commit money.
How Chase HSA accounts are offered
Chase offers HSA accounts as part of high-deductible health plans (HDHPs) through their employer health insurance products, and also as standalone accounts for people who have an HDHP through another insurer. The fee structure may differ slightly depending on which product you have, though the zero monthly maintenance fee applies across both.
If you enrolled in a Chase HDHP through an employer, your HSA was likely set up automatically. If you have an HDHP from another insurance company, you can open a standalone Chase HSA, though you will need to provide proof that you are covered by an HDHP.
Comparing Chase HSA costs to other providers
Chase's zero monthly fee is a competitive advantage, but it is not the only cost to consider. Some HSA providers charge monthly fees ($2 to $5), while others charge per-transaction fees or have higher investment management costs. A few providers offer HSAs with no monthly fee and lower investment costs, so if you are choosing between providers, request the full fee schedule from each one.
The real cost difference often comes down to how you use the account. If you keep your money in cash and rarely make transactions, the monthly fee matters most. If you invest your balance, investment fees become the larger expense.
What to do if you see an unexpected charge
If you see a fee on your Chase HSA statement that you do not recognize, log into your account online or call Chase customer service at the number on the back of your card. Ask them to explain the specific charge — it may be an ATM fee, an overdraft fee, or an investment fee that you were not aware of.
If the fee was applied in error, Chase can often reverse it, especially if it is the first time it has occurred. Keep records of any conversations you have about the charge in case you need to dispute it later.
Frequently Asked Questions
Does Chase charge a monthly fee just for having an HSA?
No. Chase does not charge a monthly maintenance fee for HSA accounts. You will not see a recurring charge on your statement simply for keeping the account open.
What fees might I pay if I use my Chase HSA?
You may pay fees for wire transfers ($15–$20), overdrafts ($35), ATM withdrawals outside Chase ($2–$3), or investment management (0.10%–1% annually if you invest your balance). Most people who use their HSA for basic transactions and keep cash in the account pay no fees at all.
Is Chase HSA cheaper than other banks?
Chase's zero monthly fee is competitive, but total cost depends on how you use the account. Compare the full fee schedule — including investment fees and transaction costs — across providers before deciding. Some competitors charge monthly fees; others do not.
Can I avoid fees on my Chase HSA?
Yes. Use Chase ATMs, keep a positive balance, avoid wire transfers, and do not invest your balance if you want to avoid fees entirely. Most basic HSA users pay nothing beyond the zero monthly maintenance charge.
What if Chase charged me a fee I did not expect?
Contact Chase customer service using the number on your card and ask them to explain the charge. If it was applied in error, they can often reverse it. Keep records of the conversation for your records.