Chase charges a monthly fee on most checking accounts, but you can waive it

Chase's standard checking account, the Chase Total Checking, carries a $12 monthly maintenance fee. However, you can eliminate this fee by meeting one of several conditions: keeping a minimum daily balance of $500, setting up a direct deposit of at least $500 per month, maintaining an average daily balance of $1,500, or linking a Chase savings account with a $300 minimum balance. If none of those work for you, Chase also offers the Chase Secure Checking account, which has no monthly fee but requires a deposit held as collateral and is designed for people building or rebuilding credit.

The fee structure matters because $12 per month adds up to $144 per year if you do not meet the waiver conditions. Many people overlook the balance or deposit requirements and end up paying without realizing there was a way to avoid it.

Key Takeaways

  • Chase Total Checking costs $12 per month unless you maintain a $500 minimum daily balance, set up a $500+ monthly direct deposit, keep a $1,500 average daily balance, or link a Chase savings account with $300 in it.
  • Chase Secure Checking has no monthly fee and no balance requirement, but you must deposit money as collateral that Chase holds and does not pay interest on.
  • The direct deposit waiver is the easiest for most people because it requires no ongoing balance management—once it hits your account each month, the fee disappears.
  • If you close your account or stop meeting the waiver condition, Chase will charge the fee starting the next month.

How the direct deposit waiver works

If you receive a paycheck, government benefit, or regular transfer of at least $500 per month, setting up direct deposit to your Chase account will waive the $12 fee. The deposit must actually land in the account—a transfer you initiate yourself does not count. You set this up through your employer's payroll system or through the benefits agency (Social Security, unemployment, veterans benefits, and similar programs all offer direct deposit).

Once the first may have access to deposit posts, Chase typically waives the fee for that month and going forward. If the deposits stop, the fee resumes the following month. This is the most common waiver method because it requires no balance juggling and works automatically once it is set up.

Balance requirements and what they mean

Chase offers two balance-based waivers: a $500 minimum daily balance or a $1,500 average daily balance. The minimum daily balance is stricter—your account cannot drop below $500 on any single day of the month. The average daily balance is calculated by adding up your balance at the end of each day and dividing by the number of days in the month, so you can dip below $1,500 some days as long as you end the month above the average.

Both methods waive the fee, but they carry risk. If you fall short by even $1 on the last day of the month, you will owe the $12 fee. For people living paycheck to paycheck, this is harder to maintain than a direct deposit waiver. If you do use a balance waiver, set a phone reminder a few days before the end of the month to check your balance and move money if needed.

The linked savings account option

You can also waive the checking fee by linking a Chase savings account with a minimum balance of $300. This works if you already have a Chase savings account or are willing to open one. The savings account itself may carry a monthly fee (Chase savings accounts typically have no fee, but confirm this when you open), so this is mainly useful if you were planning to have a savings account anyway.

The $300 must stay in the savings account at all times—if it drops below that, the checking fee returns. This method is less flexible than direct deposit because it ties up money that could otherwise be used, but it is simpler than tracking a daily or average balance in checking.

Chase Secure Checking as an alternative

If you cannot meet any of the waiver conditions for Total Checking, Chase Secure Checking has no monthly maintenance fee and no minimum balance requirement. Instead, you deposit money as collateral—typically $500 to $2,500—which Chase holds in a separate account. You cannot withdraw this collateral while the account is open, and Chase does not pay interest on it.

Secure Checking is designed for people with no credit history or poor credit who want to build a banking relationship with Chase. It comes with a debit card and online banking, just like Total Checking. The trade-off is that your collateral is locked away, so this works only if you have extra money you can set aside. Once you build credit and establish a good history with Chase, you can graduate to Total Checking or another account type.

Other fees to watch for

The monthly maintenance fee is just one cost. Chase also charges for overdrafts ($35 per transaction), out-of-network ATM withdrawals ($3 per transaction), and wire transfers ($15 domestic, $15 international). Overdraft protection can be turned on or off in your account settings—if you turn it off, transactions will be declined rather than charged. Out-of-network fees can be avoided by using Chase's ATM network or requesting cash back at stores.

If you maintain the account well and avoid overdrafts, the only fee you will face is the monthly maintenance charge—and that disappears once you meet a waiver condition. Read your account agreement or call Chase at 1-800-935-9935 to confirm the current fee structure, since Chase occasionally updates its terms.

Frequently Asked Questions

Can I waive the fee with multiple small direct deposits instead of one large one?

No. Chase requires a single direct deposit of at least $500 per month. Multiple smaller deposits do not count toward the waiver, even if they add up to $500 or more. The deposit must come from an employer or government agency, not from another account you own.

What happens if I meet the waiver condition for only part of the month?

Chase charges the fee if you do not meet the condition for the entire month. If your direct deposit arrives on the 15th, you are covered for that month. If it does not arrive until the 1st of the next month, you will owe the fee for the month it was supposed to arrive in.

Does Chase charge a fee to open or close a checking account?

No. Opening a Chase checking account is free, and closing it is free. You will not be charged for either action. However, if you close the account while it still has a balance, Chase will send you a check or transfer the funds to another account you specify.

Can I switch from Total Checking to Secure Checking to avoid the fee?

Yes. If you cannot meet the waiver conditions for Total Checking, you can open a Secure Checking account instead. There is no fee to switch, but you will need to deposit collateral ($500 to $2,500) that stays locked in the account. You can maintain both accounts at the same time if you want.

Does the $500 direct deposit have to be from my job?

No. Direct deposit can come from an employer, Social Security, unemployment benefits, veterans benefits, tax refunds, or other regular government payments. It must be an automated deposit from an outside source, not a transfer you initiate yourself from another account.