Chase savings accounts have no monthly maintenance fee, but you may pay fees for specific actions or if you fall below balance requirements

Chase does not charge a monthly fee just for holding a Chase savings account. However, you can incur fees if you exceed withdrawal limits, request expedited transfers, or use services like wire transfers or stop payments. Some Chase savings products also require a minimum balance—if your account drops below that threshold, you may face a monthly fee.

The specific fees and balance requirements depend on which Chase savings account you hold. Chase offers several savings products, each with different rules. Understanding which account you have and what triggers a fee is the fastest way to avoid unexpected charges.

Key Takeaways

  • Chase savings accounts have no monthly maintenance fee, but fees can apply for excess withdrawals, wire transfers, or falling below a minimum balance.
  • The Chase Savings Account requires a $300 minimum daily balance to avoid a $5 monthly fee.
  • The Chase Premier Savings Account requires a $10,000 minimum daily balance to avoid a $25 monthly fee.
  • Withdrawals beyond six per month (a federal limit that has been relaxed but some banks still enforce) may trigger a fee of $10 per excess withdrawal.
  • You can view your account terms and current fees by logging into Chase online or calling the number on the back of your debit card.

Minimum balance requirements and monthly fees

Chase offers two main savings account tiers, and each has a different minimum balance threshold. The Chase Savings Account requires you to maintain a $300 minimum daily balance. If your balance falls below $300 on any day, Chase charges a $5 monthly maintenance fee. This fee posts at the end of your statement cycle.

The Chase Premier Savings Account is designed for customers with larger balances and carries a higher minimum: $10,000. If your balance drops below $10,000 on any day during the statement period, you pay a $25 monthly fee. This account typically offers a higher interest rate in exchange for the higher minimum and fee structure.

If you maintain the required minimum balance throughout your statement cycle, neither account charges a monthly fee. The balance is calculated on a daily basis, meaning even one day below the threshold can trigger the fee.

Excess withdrawal fees and transaction limits

Federal rules once limited savings account withdrawals to six per month, and some banks still enforce this limit. Chase has relaxed this rule for most customers, but you should confirm your account's current policy by checking your account terms online or calling Chase customer service.

If your account is subject to a withdrawal limit and you exceed it, Chase charges $10 for each withdrawal beyond the limit. This applies to withdrawals made in person at a branch, by phone, or through an ATM. Transfers initiated through online banking or mobile app may be treated differently depending on your account type.

The easiest way to avoid this fee is to use your Chase debit card for everyday spending instead of making frequent withdrawals. Debit card transactions do not count toward withdrawal limits.

Wire transfers, expedited transfers, and other service fees

Chase charges fees for services beyond basic account maintenance and withdrawals. A domestic wire transfer costs $15, and an international wire transfer costs $20. These fees apply whether you initiate the wire online, by phone, or in person at a branch.

If you request an expedited transfer (faster than the standard timeline), Chase charges $15 for domestic expedited transfers. A stop payment request costs $30. Requesting a copy of a cancelled check or a statement from a previous year also carries a fee, typically $5 to $10 depending on the request.

These fees are separate from your monthly maintenance fee and apply only when you use the service. Most customers never incur them if they stick to standard transfers and basic account activity.

How to check your account's specific fees

Chase savings accounts come in different versions, and the terms may vary slightly depending on when you opened your account or which branch you use. The most reliable way to confirm your account's fee structure is to log into your Chase online account and view your account details or fee schedule.

You can also call the customer service number on the back of your debit card or visit a Chase branch in person. Have your account number ready. A representative can tell you your current minimum balance requirement, whether withdrawal limits apply to your account, and what other fees may apply.

If you see a fee posted to your account that you do not recognize, contact Chase within 30 days. Explain the charge, and Chase will review it. If the fee was posted in error or if you were not informed of the policy, Chase may reverse it.

Ways to avoid or reduce fees

The simplest way to avoid fees is to maintain the minimum balance required for your account type. If you have a Chase Savings Account, keep at least $300 in the account at all times. If you have a Premier Savings Account, maintain $10,000. This single step eliminates the monthly maintenance fee.

Use your Chase debit card for everyday purchases instead of making frequent withdrawals. This keeps you under any withdrawal limits without requiring you to manage cash. If you need cash regularly, withdraw larger amounts less frequently rather than making many small withdrawals.

Avoid wire transfers when possible. If you need to send money to another account, use a standard transfer through online banking, which is free. Wire transfers are useful for urgent or large transfers, but they carry a fee, so use them only when necessary.

If you cannot maintain the minimum balance, consider switching to a different Chase account or bank. Some online banks and credit unions offer savings accounts with no minimum balance and no monthly fee. Chase also offers a Chase High Yield Savings Account for customers who want higher interest rates; confirm its fee structure before opening.

Frequently Asked Questions

What happens if my balance drops below the minimum for one day?

Chase calculates your minimum balance on a daily basis. If your balance falls below the required amount on even one day during your statement cycle, you will be charged the monthly maintenance fee. The fee posts at the end of your statement period, not immediately.

Can Chase reverse a fee if I did not know about it?

Yes. If you were not informed of the fee policy or if you believe the fee was posted in error, contact Chase within 30 days and explain the situation. Chase may reverse the fee as a courtesy, especially if it is your first time incurring it. There is no may provide, but it is worth asking.

Do transfers between my Chase accounts count toward withdrawal limits?

Transfers between your own Chase accounts are typically not counted as withdrawals for the purpose of withdrawal limits. However, this can vary by account type. Log into your account or call Chase to confirm the rules for your specific account.

Is there a fee to open a Chase savings account?

No. Chase does not charge a fee to open a savings account. You only pay fees if you incur specific transactions or fall below a minimum balance after the account is open.

What is the difference between the Chase Savings Account and the Premier Savings Account?

The main differences are the minimum balance requirement ($300 versus $10,000) and the monthly fee ($5 versus $25). The Premier Savings Account typically offers a higher interest rate. Choose based on how much you can keep in savings and what interest rate matters most to you.