Chase checking accounts have no monthly minimum balance requirement
Chase does not require you to keep a minimum balance in any of its personal checking accounts. You can open an account, deposit one dollar, and keep it there without penalty. This applies to Chase Total Checking, Chase Sapphire Checking, and Chase Premier Plus Checking — the three main personal checking products Chase offers.
What matters instead is whether you want to avoid a monthly service fee. Chase charges a $12 monthly maintenance fee on most checking accounts, but you can waive it several ways. The easiest method is to set up a direct deposit of any amount — even $1 per pay period counts. Alternatively, you can maintain an average daily balance of $500 in the account, or link it to a Chase savings account and keep $500 there instead.
Chase Premier Plus Checking, the premium tier, has a $25 monthly fee that you can waive by keeping a $15,000 average daily balance or by maintaining a combined balance of $25,000 across linked Chase accounts.
Key Takeaways
- Chase checking accounts have zero minimum balance requirement — you can open and maintain an account with any amount of money.
- The $12 monthly fee on Chase Total Checking and Chase Sapphire Checking can be waived by setting up direct deposit, keeping $500 average daily balance, or linking a savings account with $500.
- Chase Premier Plus Checking charges $25 per month but waives the fee if you maintain $15,000 average daily balance or $25,000 combined across linked accounts.
- If you do not meet any fee waiver requirement, you will be charged the monthly maintenance fee even if your balance is zero.
How Chase calculates average daily balance
If you choose to waive the fee by maintaining a $500 average daily balance, Chase adds up your balance at the end of each day for the entire month, then divides by the number of days in that month. You do not need to have $500 in the account every single day — some days can be higher, some lower, as long as the average lands at $500 or above.
For example, if you have $400 on day one, $600 on day two, and $500 for the remaining days of a 30-day month, your average is roughly $498 — just under the threshold. Chase will charge the $12 fee that month. The next month, if your average is $502, the fee is waived.
Chase does not round up or give you a grace period. The calculation is exact, and it resets each calendar month. You can check your average daily balance in the Chase mobile app or online banking under account details.
Direct deposit as the simplest fee waiver
Setting up direct deposit waives the monthly fee regardless of how much money sits in the account. Your employer deposits your paycheck, a government benefit, or another regular income payment directly into your Chase checking account, and the fee disappears.
The deposit amount does not matter — even $1 per month counts. The deposit must be a true direct deposit (ACH transfer from an employer or benefit administrator), not a transfer you initiate yourself from another bank account. Once direct deposit is set up, the fee waiver is automatic and continues as long as the direct deposit keeps hitting the account.
If your direct deposit stops — because you change jobs or lose benefits — the fee waiver ends. Chase will begin charging the $12 fee again the following month unless you switch to another waiver method.
Linked savings account as an alternative to balance requirements
You can waive the checking account fee by keeping $500 in a linked Chase savings account instead of in the checking account itself. This works for Chase Total Checking and Chase Sapphire Checking. The $500 sits in savings, earning interest, while your checking account stays free.
The savings account must be linked to the same Social Security number and registered at the same Chase branch or online. Once linked, Chase monitors the combined balance daily. If the savings account drops below $500, the checking fee kicks in the next month.
This method is useful if you want to keep most of your money in savings (where it earns interest) while maintaining a free checking account for daily spending. However, if you need the money in checking for frequent transfers or bill payments, the direct deposit method is simpler.
What happens if you do not meet any fee waiver requirement
If you do not set up direct deposit, do not keep $500 average daily balance, and do not link a savings account with $500, Chase charges the monthly maintenance fee. On Chase Total Checking and Chase Sapphire Checking, this is $12. On Chase Premier Plus Checking, it is $25.
The fee is deducted from your account balance automatically on the last day of the month or the first day of the next month. If your balance is $50 and the $12 fee is charged, your balance becomes $38. If your balance is $5 and the $12 fee is charged, your account goes into overdraft (negative balance), and you may face overdraft fees on top of the maintenance fee.
Chase does not waive the maintenance fee for low-income customers or hardship situations. The fee applies the same way to all accounts that do not meet a waiver requirement.
Differences between Chase checking account tiers
| Account Type | Monthly Fee | Fee Waiver Options | Interest Rate |
|---|---|---|---|
| Chase Total Checking | $12 | Direct deposit, $500 average daily balance, or linked savings with $500 | Minimal (varies by market) |
| Chase Sapphire Checking | $12 | Direct deposit, $500 average daily balance, or linked savings with $500 | Higher than Total Checking (varies by market) |
| Chase Premier Plus Checking | $25 | $15,000 average daily balance or $25,000 combined balance across linked accounts | Competitive rates on linked savings |
Chase Sapphire Checking offers higher interest on your balance than Chase Total Checking, but both charge the same $12 monthly fee and have the same waiver options. Chase Premier Plus Checking is designed for customers who maintain larger balances and want premium features like higher interest rates and priority customer service.
Frequently Asked Questions
Can I have a Chase checking account with zero balance?
Yes. Chase has no minimum balance requirement, so you can keep the account open with $0. However, if you do not meet a fee waiver requirement, you will be charged $12 per month (or $25 for Premier Plus), which will push your balance negative if there is no money to cover it.
Does a savings account count toward the checking account minimum?
Only if you specifically link the accounts. A Chase savings account at a different branch or under a different name does not count. Once linked, Chase monitors the combined balance and waives the checking fee if the savings account holds $500 or more.
What if my direct deposit stops?
The fee waiver ends the month after your direct deposit stops. Chase will charge the $12 monthly fee starting the following month unless you switch to another waiver method, such as maintaining $500 average daily balance or linking a savings account with $500.
Does Chase charge a fee to open a checking account?
No. Chase does not charge an opening fee. You can open a Chase checking account online, by phone, or in person at no cost. The only charge is the monthly maintenance fee if you do not meet a waiver requirement.
Can I waive the fee on Chase Premier Plus Checking with direct deposit?
No. Chase Premier Plus Checking does not offer direct deposit as a fee waiver option. You must maintain either a $15,000 average daily balance in the checking account or a $25,000 combined balance across linked Chase accounts to waive the $25 monthly fee.