Chase does not charge an upfront fee to open most checking or savings accounts

You can open a Chase checking account, savings account, or money market account without paying an opening fee. Chase does not require a minimum deposit to start the account either, though some account types have minimum balance requirements that trigger monthly fees if you fall below them.

The cost to open depends on which account you choose and whether you maintain the balance or meet other conditions. A Chase Total Checking account, for example, has no monthly service fee if you keep a $500 minimum balance or set up direct deposit. If you do neither, you pay $12 per month. A Chase Savings account has no monthly fee regardless of balance.

You can open an account online, by phone, or in a branch. Online and phone applications take 5 to 10 minutes. You will need a valid government ID, your Social Security number, and an initial deposit method — a debit card, bank account, or cash if you open in person.

Key Takeaways

  • Chase charges no fee to open a checking, savings, or money market account, and does not require a minimum opening deposit.
  • Monthly service fees range from $0 to $25 depending on the account type and whether you meet balance or direct deposit requirements.
  • Chase Total Checking costs $12 per month only if your balance drops below $500 and you have no direct deposit.
  • You can avoid monthly fees on most accounts by maintaining a minimum balance, setting up direct deposit, or choosing a fee-free savings account.

Monthly fees vary by account type and how you use it

Chase Total Checking has a $12 monthly service fee, but you can waive it by keeping a $500 minimum balance or receiving at least one direct deposit per month. Most people who get a paycheck deposited automatically never pay this fee.

Chase Savings has no monthly service fee at all. Chase Money Market accounts charge $25 per month unless you maintain a $2,500 minimum balance. Chase Premier Plus Checking charges $25 monthly and requires a $15,000 minimum balance to waive the fee — this account is designed for customers with higher balances.

Beyond the monthly service fee, Chase charges for specific actions: overdraft fees ($35 per overdraft), wire transfer fees ($15 domestic, $25 international), and ATM fees if you use an out-of-network machine ($3 per withdrawal). These are not automatic; they only appear if you trigger them.

How to avoid paying monthly fees

The easiest way is to set up direct deposit. If your employer or a government program deposits money into your Chase account automatically, the monthly fee disappears on most checking accounts. You do not need a large paycheck — even a small recurring deposit counts.

If direct deposit is not an option, maintain the minimum balance. For Chase Total Checking, that is $500. Keep that amount in the account at all times, and the $12 fee never charges. For Chase Savings, there is no minimum, so the account costs nothing.

You can also link accounts. Some Chase customers open a savings account (which has no fee) alongside a checking account, then transfer money between them as needed. This does not waive the checking fee, but it gives you a free place to hold money.

What happens after you open the account

Once your account is open, you can use it immediately for direct deposits and transfers. Debit card orders take 7 to 10 business days to arrive by mail. Checks can be ordered through your online banking portal or by phone; they arrive in 7 to 10 days as well.

Your first statement arrives 30 days after opening. Chase sends statements online by default, but you can request paper statements if you prefer — some branches still mail them at no extra cost, though this varies by location.

If you close the account within 90 days, Chase may charge a $25 early closure fee. This applies only if you close it yourself; if the bank closes it, no fee applies. After 90 days, you can close without penalty.

Fees that apply to all Chase accounts

Overdraft fees are $35 per transaction if you spend more than your balance. Chase allows overdrafts on debit card purchases and ATM withdrawals, so this fee can appear even if you think your account is empty. You can turn off overdraft protection to prevent this, which means transactions will be declined instead.

Returned deposit fees are $25 if a check or transfer you deposited bounces. Wire transfer fees are $15 for domestic wires and $25 for international ones. Stop payment requests on checks cost $30. Foreign ATM fees are $3 per withdrawal outside the United States.

Chase does not charge fees for basic services like transfers between your own accounts, bill pay, or viewing your balance. Mobile app use is free, and customer service calls are free.

How to compare Chase accounts before opening

Start by asking yourself whether you receive direct deposit. If yes, Chase Total Checking costs you nothing and is the most common choice. If no, decide whether you can keep $500 in the account at all times. If you can, Total Checking still costs nothing. If you cannot, Chase Savings is free and has no minimum balance.

If you have a higher balance and want premium features like higher interest rates or priority customer service, look at Chase Premier Plus Checking. The $25 monthly fee applies only if your balance drops below $15,000, so it is designed for people who maintain that amount anyway.

You can open multiple accounts if you want — a checking account for bills and a savings account for emergency money, for example. Each account has its own fee structure, so you can pick the combination that costs you the least.

Frequently Asked Questions

Do I have to put money in when I open the account?

No. Chase does not require a minimum opening deposit. You can open the account with $0 and add money later. However, some accounts charge a monthly fee if your balance stays below a certain amount, so check the fee structure for the account type you choose.

Can I open a Chase account online without going to a branch?

Yes. You can open most Chase accounts entirely online through their website or mobile app. You will need a valid ID, Social Security number, and a way to fund the account (debit card, another bank account, or a check). The process takes about 10 minutes.

What if I cannot maintain the minimum balance?

Choose Chase Savings instead, which has no monthly fee and no minimum balance requirement. You can also turn off overdraft protection to avoid overdraft fees if your balance drops to zero.

Does Chase charge to close an account?

Chase charges a $25 early closure fee only if you close the account within 90 days of opening it. After 90 days, you can close the account at any time without paying a fee.

Can I waive the monthly fee with a savings account instead of direct deposit?

No. The $500 minimum balance or direct deposit requirement applies only to checking accounts. Savings accounts have no monthly fee regardless of balance, so linking a savings account does not waive checking fees — but you can use the savings account itself for free.