What Chase charges for checking accounts

Chase does not charge a monthly fee on most of its checking accounts if you meet one simple requirement: keep a minimum daily balance or set up direct deposit. The exact threshold depends on which account you open.

Chase offers several checking products, and the fees vary. The most common account is the Chase Total Checking, which waives the $12 monthly fee if you maintain a $500 minimum daily balance in the account or receive a direct deposit of any amount. If you do neither, you pay $12 per month.

Chase also offers Chase Secure Checking, designed for people building or rebuilding credit. This account has a $4.95 monthly fee that cannot be waived, though you can avoid it by closing the account and moving to Total Checking if you meet the balance requirement.

Key Takeaways

  • Chase Total Checking costs $12 per month only if you fall below a $500 minimum daily balance and have no direct deposit.
  • Direct deposit of any amount—even $1—waives the monthly fee on Total Checking, regardless of your balance.
  • Chase charges additional fees for overdrafts ($35 per transaction), wire transfers ($15 domestic, $45 international), and stop payments ($30).
  • Closing an account early or maintaining very low balances can trigger fees, so confirm the terms before opening.

How to avoid the monthly fee

The easiest way to avoid Chase's $12 monthly fee is to set up direct deposit. This means your paycheck, Social Security payment, or other regular income deposits directly into your Chase account. Chase does not specify a minimum deposit amount—even $1 per pay period counts.

If direct deposit is not an option, maintain a $500 minimum daily balance. This is the balance at the end of each business day. If your balance dips below $500 on any single day, you do not lose the fee waiver immediately, but if it stays below $500 for the entire month, the $12 fee posts at the end of the statement cycle.

Some people use both methods: they set up direct deposit and also keep the minimum balance as a safety net. This removes the risk that a missed paycheck or delayed deposit will trigger the fee.

Other fees Chase charges on checking accounts

Beyond the monthly maintenance fee, Chase charges for specific actions and mistakes. An overdraft fee is $35 per transaction if you spend more than your available balance. Chase allows overdrafts on debit card purchases and ATM withdrawals, but you can opt out of overdraft coverage if you prefer transactions to be declined instead.

If you need to send money outside the Chase network, a domestic wire transfer costs $15, and an international wire transfer costs $45. Asking Chase to stop a check you have already written costs $30. Requesting a copy of a cancelled check or statement costs $5 to $10 depending on how far back you go.

Closing your account within 90 days of opening it may result in a $25 early closure fee, though Chase sometimes waives this if you contact them and explain your situation.

Comparing Chase checking to other banks

Chase's $12 monthly fee is in the middle range for large national banks. Bank of America charges $12 per month on its basic checking account with similar waiver options (direct deposit or minimum balance). Wells Fargo charges $10 per month. Smaller online banks like Ally, Charles Schwab, and Discover often charge no monthly fee at all and pay interest on checking balances, though they do not offer physical branches.

The trade-off is convenience versus cost. Chase has over 4,600 branches and 16,000 ATMs nationwide, so if you use branches regularly or need cash access, the $12 fee may be worth it. If you bank entirely online and rarely need a physical location, a no-fee online bank saves you $144 per year.

What happens if you cannot meet the minimum balance

If you cannot maintain a $500 balance and do not have direct deposit, you will pay $12 per month. Over a year, that is $144. The fee posts automatically at the end of your statement cycle if the conditions are not met.

You can set up a low-balance alert through Chase's mobile app or online banking to notify you when your balance drops below a threshold you choose. This gives you time to deposit money before the fee posts. Some people transfer small amounts from savings to checking on the last day of the month to stay above $500 and avoid the fee.

If you are struggling to maintain the balance, switching to Chase Secure Checking is not the answer—it costs $4.95 per month and still has overdraft fees. Instead, consider whether an online bank or a local credit union might better fit your situation.

How to open a Chase checking account and confirm the fee structure

You can open a Chase checking account online, on the mobile app, or at a branch. You will need a government-issued ID, Social Security number, and an initial deposit (usually $25 minimum). During signup, you can choose whether to set up direct deposit immediately or rely on the minimum balance.

Before you open, confirm the current fee structure on Chase's website or ask a banker in person. Fee structures change occasionally, and promotional offers sometimes waive fees for a limited time. If you are opening an account to take advantage of a sign-up bonus, read the fine print—some bonuses require direct deposit or a minimum balance to may have access to.

Frequently Asked Questions

Can I have a Chase checking account with no monthly fee?

Yes. Set up direct deposit of any amount, or maintain a $500 minimum daily balance. If you do either, the $12 monthly fee on Chase Total Checking is waived. Chase Secure Checking always charges $4.95 per month and cannot be waived.

Does Chase charge a fee if I close my account early?

Chase may charge a $25 early closure fee if you close the account within 90 days of opening it. Contact Chase before closing to ask if they will waive the fee in your situation—they sometimes do.

What is Chase's overdraft fee?

Chase charges $35 per overdraft transaction. You can opt out of overdraft coverage so transactions are declined instead of charged a fee. This is done through your online account settings or by calling Chase.

Does direct deposit have to be from my employer?

No. Direct deposit can come from an employer, Social Security, a pension, unemployment benefits, or any other regular payment. Chase counts any recurring direct deposit toward the fee waiver, regardless of the source.

What if my balance drops below $500 for one day?

A single day below $500 does not trigger the fee. The fee posts only if your balance stays below $500 for the entire statement cycle. However, if you dip below $500 and make a purchase that overdrafts the account, you will owe the $35 overdraft fee on top of any monthly fee.