Chase checking accounts have no monthly fee if you meet one simple requirement
Chase's main checking account is the Chase Total Checking account, and it costs nothing per month as long as you keep a minimum balance of $500 or set up direct deposit. If you don't meet either condition, the monthly fee is $12. There's also a premium option called Chase Sapphire Checking that costs $25 per month and comes with travel perks and higher cash-back rates on debit card purchases.
The $500 minimum balance is the number that matters for most people. You don't have to keep that much in the account every single day—Chase looks at your average daily balance over the statement period. If your balance dips below $500 some days but averages $500 or higher by the end of the month, you pay no fee. Direct deposit of any amount also waives the fee, even if your balance never reaches $500.
Beyond the monthly fee, Chase checking accounts come with standard features: a debit card, online and mobile banking, bill pay, and access to Chase's ATM network. ATM withdrawals at non-Chase machines typically cost $3 per transaction unless you have a higher-tier account. There are no fees for transfers between your own Chase accounts, and no fees for incoming wire transfers.
Key Takeaways
- Chase Total Checking has no monthly fee if you maintain a $500 average daily balance or receive direct deposit.
- If you don't meet the $500 minimum and have no direct deposit, Chase charges $12 per month.
- Chase Sapphire Checking costs $25 per month and includes travel benefits and higher cash-back rates on debit purchases.
- Out-of-network ATM withdrawals cost $3 each unless you have a premium account that reimburses those fees.
- There are no fees for transfers between your own Chase accounts, wire transfers received, or bill pay.
How the $500 minimum balance actually works
The $500 requirement is based on your average daily balance, not a single snapshot. Chase adds up your balance at the end of each day during your statement period, then divides by the number of days. If that average is $500 or more, the fee is waived.
This matters because you can dip below $500 on some days without triggering the fee. If you have $600 on day one, $400 on day two, and $600 on day three, your three-day average is $533—above the threshold. You won't be charged. The statement period is typically one month, so Chase is looking at your average across roughly 30 days.
Direct deposit overrides the balance requirement entirely. If your paycheck or any regular deposit hits your Chase account, the $12 fee disappears even if your balance never reaches $500. This is why direct deposit is the easiest way to avoid the monthly charge if you don't keep much money in checking.
What Chase Sapphire Checking includes for the $25 monthly fee
The Chase Sapphire Checking account is designed for people who travel or want higher rewards on everyday spending. The $25 monthly fee is waived if you maintain a $10,000 average daily balance or have a linked Chase Sapphire credit card account.
The main benefits are a 1.5% cash-back rate on all debit card purchases (compared to 0% on Total Checking) and a 2% cash-back rate on ATM withdrawals at any ATM worldwide. You also get reimbursement for out-of-network ATM fees, so those $3 charges don't stick. Travel protections include emergency cash advances and emergency card replacement if you're traveling outside the United States.
The cash-back earnings are capped at $20 per month on debit purchases and $10 per month on ATM withdrawals, so the maximum you can earn is $30 monthly. For most people, this doesn't offset the $25 fee unless you use your debit card heavily and withdraw cash frequently. The account makes more sense if you already have a Chase Sapphire credit card or travel regularly and value the emergency services.
Fees you might encounter beyond the monthly charge
Chase doesn't charge for most common transactions, but some situations do carry costs. Out-of-network ATM withdrawals cost $3 each—this applies to any ATM not owned by Chase. If you use ATMs regularly outside the Chase network, these charges add up quickly. The Sapphire account reimburses these fees, but Total Checking does not.
Overdraft fees are $35 per transaction if you spend more than your balance. Chase allows overdrafts up to a certain limit (which varies by account history), but each overdraft transaction triggers the fee. You can opt out of overdraft coverage entirely, in which case transactions that would overdraw your account are simply declined instead.
Wire transfers you send out cost $15 for domestic wires and $20 for international wires. Incoming wires are free. Cashier's checks cost $10 each. Stop-payment requests on checks cost $30. These are occasional fees, not recurring ones, but they're worth knowing if you use these services.
How to avoid the monthly fee if you're below $500
The simplest way is to set up direct deposit. Even if your employer deposits only $1 per paycheck, it counts. If you don't have an employer or regular income source, you can deposit money from another bank account or transfer funds from a savings account—but these don't count as direct deposit and won't waive the fee.
If direct deposit isn't possible, keeping the $500 average is straightforward if you have regular income. Deposit your paycheck or transfer money in, and as long as your average balance stays above $500 over the month, you're clear. If you're close to the threshold, check your balance a few times during the statement period to see where you stand.
If you can't maintain $500 and don't have direct deposit, the $12 monthly fee is unavoidable with Chase Total Checking. In that case, you might consider a different bank with no minimum balance requirement, though Chase's branch network and mobile app are strong reasons some people accept the fee.
Comparing Chase Total Checking to Sapphire Checking
| Feature | Chase Total Checking | Chase Sapphire Checking |
|---|---|---|
| Monthly fee | $12 (waived with $500 average balance or direct deposit) | $25 (waived with $10,000 average balance or linked Sapphire credit card) |
| Debit card cash-back | 0% | 1.5% (capped at $20/month) |
| ATM cash-back | 0% | 2% (capped at $10/month) |
| Out-of-network ATM fee reimbursement | No | Yes |
| Travel protections | No | Yes (emergency cash, card replacement) |
| Best for | People with steady income or $500+ balance | Frequent travelers or heavy debit card users |
Frequently Asked Questions
What happens if my balance drops below $500 for a month?
If your average daily balance for the statement period falls below $500 and you don't have direct deposit, Chase charges the $12 monthly fee. The fee appears on your next statement. You can avoid it the following month by bringing your average back above $500 or setting up direct deposit.
Does direct deposit have to be from my employer?
Direct deposit specifically means an electronic transfer from an employer's payroll system. Transfers from another bank account or from a savings account don't count as direct deposit for fee-waiver purposes, even if they're automatic. You need actual payroll direct deposit to waive the fee without maintaining the $500 balance.
Can I have both Total Checking and Sapphire Checking at the same time?
Yes, you can open multiple checking accounts with Chase. Each account is separate, so you'd need to meet the minimum balance or direct deposit requirement for each one to avoid monthly fees. Most people stick with one checking account, but there's no rule against having both.
Do I pay the $3 ATM fee if I use a Chase ATM?
No. Chase ATM withdrawals are free for both Total Checking and Sapphire Checking accounts. The $3 fee only applies when you use an ATM owned by another bank or network. Chase has thousands of ATMs nationwide, so many people avoid the fee by planning ahead.
Is the $500 minimum balance actually $500 or can it be less?
It's exactly $500 as an average daily balance. If your average is $499.99, you don't meet the requirement and the $12 fee applies. The only way around it is direct deposit or moving to a different account type. Some banks have lower minimums, but Chase's standard checking account is $500.