Chase does not charge an opening fee for most personal checking and savings accounts
You can open a Chase checking or savings account with no upfront cost. Chase does not ask for a deposit to create the account, though you will need to fund it before you can use it. The account itself — the act of opening it — is free.
What matters more is what happens after you open it. Chase charges monthly maintenance fees on some accounts, and those fees depend on which account type you choose and whether you meet certain conditions. A checking account that costs nothing one month might cost $12 the next if you fall below a minimum balance or stop meeting the bank's requirements.
The real cost is not opening the account. It is keeping it open without triggering fees.
Key Takeaways
- Chase charges no fee to open a checking or savings account, and no minimum deposit is required at opening.
- Monthly maintenance fees range from $0 to $12 depending on account type and whether you meet balance or activity requirements.
- Chase Total Checking and Chase Savings accounts waive the monthly fee if you maintain a $500 minimum balance or set up direct deposit.
- You can open an account online, by phone, or in a branch, and funding can happen immediately after opening.
- Overdraft fees, ATM fees outside the Chase network, and wire transfer fees are separate from the account opening cost and apply only when you use those services.
Monthly maintenance fees vary by account type
Chase offers several personal account types, and each has its own fee structure. Chase Total Checking normally charges $12 per month, but the fee is waived if you keep a $500 minimum balance or set up direct deposit of at least $500 per month. Chase Savings charges $5 per month unless you maintain a $300 minimum balance.
Chase Premier Plus Checking is designed for customers with higher balances and charges $25 per month; the fee is waived if you keep $15,000 in the account. Chase Secure Checking is for people building or rebuilding credit and has no monthly fee.
The account you choose determines what you will pay each month, not what you pay to open it. If you open Chase Total Checking and immediately deposit $500, you will not pay a fee that month. If you let the balance drop to $100, you will owe $12 the following month.
How to open an account and what you need
You can open a Chase account online, over the phone, or in a branch. Online is fastest — the process takes about 10 minutes and you can fund the account the same day. You will need a valid government-issued ID, a Social Security number, and an initial deposit (though the amount can be as small as $1).
Chase will run a ChexSystems check, which is a banking history report. If you have unpaid overdrafts or closed accounts with negative balances at other banks, Chase may deny the application or require you to use Chase Secure Checking instead. This check does not affect your credit score.
If you open by phone, a Chase representative will guide you through the same questions and can fund the account from an existing bank account or debit card. In-branch opening takes longer but allows you to ask questions and receive immediate help with setup.
Other costs that are not the opening fee
Chase charges fees for specific actions, separate from the monthly maintenance fee. An overdraft fee is $35 if you spend more than your balance; Chase allows up to four overdraft fees per day. An out-of-network ATM fee is $2.50 if you withdraw cash from an ATM that is not a Chase machine. A wire transfer fee is $15 for outgoing domestic wires and $15 for incoming wires.
These fees only apply when you use these services. They are not part of opening the account and do not appear unless you trigger them. A checking account that costs nothing to open can still cost you money if you overdraft frequently or regularly use ATMs outside the Chase network.
Returned deposit fees, stop-payment requests, and expedited shipping of a debit card also carry charges. Read the account fee schedule on Chase's website or ask in the branch before opening to understand the full picture.
How to avoid monthly fees after opening
The easiest way to avoid the $12 Chase Total Checking fee is to set up direct deposit. If your employer or a benefits program deposits money directly into your Chase account, the fee is waived automatically — the amount does not matter, only that the deposit happens. This works for paychecks, Social Security, unemployment, or any regular direct deposit.
If direct deposit is not an option, keep a $500 minimum balance in the account. The balance is checked at the end of each business day, so you need to stay above $500 most days. One day below $500 will not trigger the fee, but a pattern of dipping below will.
For Chase Savings, the $300 minimum is lower, making it easier to avoid the $5 fee. For Chase Secure Checking, there is no monthly fee at all, which makes it a good choice if you are rebuilding credit or cannot maintain a minimum balance.
Opening online versus in person
Online opening is faster and requires no trip to a branch. You upload your ID, answer identity verification questions, and fund the account from another bank account or debit card. The account is usually active within minutes, and you can use it to set up bill pay or transfers immediately.
In-person opening at a Chase branch takes 20 to 30 minutes but gives you a chance to ask questions and get help setting up online banking, mobile app access, and debit card delivery. Some people prefer this if they are new to banking or want to understand the account features before using them.
Both methods are free. The cost difference is time, not money. If you open online and later have questions, you can always visit a branch or call Chase customer service at the number on the back of your debit card.
Frequently Asked Questions
Do I need a minimum deposit to open a Chase account?
No. Chase does not require a minimum deposit to open the account. You can open with $1 and add more later. However, some account types charge a monthly fee if your balance falls below a certain amount after opening, so plan to keep enough in the account to avoid fees.
Can I open a Chase account if I have been denied by other banks?
Maybe. Chase uses ChexSystems to check your banking history. If you have unpaid overdrafts or closed accounts with negative balances, Chase may deny a regular checking account but offer Chase Secure Checking instead, which has no monthly fee and is designed for people rebuilding their banking record.
How long does it take to use my account after opening?
If you open online and fund from another bank account, your debit card ships in 5 to 7 business days, but you can use the account for transfers and bill pay immediately. If you open in a branch, you may receive a temporary debit card on the spot. Funds from another bank account take 1 to 3 business days to appear.
What happens if I close my account right after opening?
Chase does not charge a fee to close an account. However, if you close within 90 days of opening, Chase may flag you in ChexSystems as a "early account closure," which can make it harder to open accounts at other banks. Avoid closing unless necessary.
Do I pay interest on money in a Chase savings account?
Chase savings accounts earn interest, but the rate is very low — typically less than 0.01% annually. This means $1,000 in the account earns less than $0.10 per year. High-yield savings accounts at online banks pay much more, but they are not offered by Chase.