Chase does not charge a fee to open most of their checking or savings accounts

You can open a Chase checking account, savings account, or both without paying an opening fee. Chase makes money from the accounts you keep open — through overdraft fees, monthly maintenance charges on some accounts, and interest they earn on the money you deposit — not from charging you to start.

The real cost question is whether you will pay a monthly fee once the account is open. That depends on which account type you choose and whether you meet the bank's requirements to waive the fee. Some Chase accounts charge nothing under any circumstance. Others charge $12 or $15 per month unless you keep a minimum balance or set up direct deposit.

Key Takeaways

  • Opening a Chase checking or savings account costs nothing — there is no upfront fee to create the account.
  • Chase Total Checking has no monthly fee regardless of your balance, but some other checking accounts charge $12 monthly unless you maintain a minimum balance or receive direct deposit.
  • Chase Savings accounts charge $5 per month unless you keep at least $300 in the account or link it to a may have access to Chase checking account.
  • You will need a government-issued ID, a Social Security number or ITIN, and an initial deposit (usually $25 or more) to open an account.
  • You can open an account online, by phone, or in a Chase branch — opening online takes about 10 minutes and requires no visit to a bank.

Which Chase accounts have no monthly fee

Chase Total Checking is the account with no monthly maintenance fee, no matter what. You do not have to keep a minimum balance, set up direct deposit, or do anything else to avoid a charge. This is the most straightforward option if you want to avoid fees entirely.

Chase also offers Chase Savings, which does charge $5 per month — but you can waive that fee by keeping $300 or more in the account at all times, or by linking it to a Chase checking account that has direct deposit set up. If you are opening your first account and want to avoid all fees, Total Checking is the simpler choice.

Accounts that charge a monthly fee and how to avoid it

Chase offers several other checking accounts aimed at different customers. Chase Premier Plus Checking and Chase Preferred Checking both charge $12 per month, but you can waive the fee by maintaining a minimum balance (usually $1,500 to $15,000 depending on the account) or by setting up direct deposit of at least $500 per month.

If you cannot meet a balance requirement or do not have direct deposit, these accounts will cost you $12 monthly. For most people opening their first account, Total Checking avoids this problem entirely.

What you need to bring or provide to open an account

Chase requires the same basic information whether you open an account online or in a branch. You will need a government-issued photo ID (a driver's license, passport, or state ID card), your Social Security number or ITIN (Individual Taxpayer Identification Number), and an initial deposit. Most Chase accounts require a minimum opening deposit of $25, though some savings products ask for more.

If you open online, you will provide this information through Chase's website or mobile app. If you open in a branch, you will show your ID to a banker and answer questions about your identity. Either way, the process takes about 10 to 15 minutes.

Opening an account online versus in a branch

Opening online is faster and requires no trip to a bank. You can complete the process on your computer or phone in about 10 minutes, and your account is usually ready to use the same day or the next business day. You will receive a debit card in the mail within 7 to 10 business days.

Opening in a branch takes longer — usually 30 minutes to an hour — but you can walk out with a temporary debit card that works when ready. You also get to speak with a banker who can answer questions about which account fits your needs. If you are new to banking and want guidance, a branch visit can be worth the extra time.

Fees that might explore after you open

The monthly maintenance fee is only one cost to know about. Chase also charges overdraft fees (usually $35 per transaction) if you spend more money than you have in your account. They charge fees for wire transfers, for stopping a check, and for closing an account within 90 days of opening it.

Most of these fees only explore if you use those specific services. The overdraft fee is the one most people encounter by accident. If you keep your balance positive and do not spend money you do not have, you will avoid this charge.

Frequently Asked Questions

Do I have to keep a minimum balance to avoid monthly fees?

It depends on the account. Chase Total Checking has no monthly fee and no minimum balance requirement. Chase Savings charges $5 monthly unless you keep $300 or more in the account. Other Chase checking accounts waive their monthly fee if you maintain a higher balance — usually $1,500 to $15,000 — or set up direct deposit.

Can I open an account if I do not have a Social Security number?

Yes. Chase accepts an ITIN (Individual Taxpayer Identification Number) instead of a Social Security number. You will need to provide it during the opening process, along with your government-issued ID and initial deposit.

What if I do not have a government-issued ID?

You will need to open an account in a Chase branch rather than online. Bring whatever ID you have — a state ID card, passport, tribal ID, or other government-issued document — and speak with a banker. They can tell you whether your ID meets Chase's requirements or what other documents might work.

How long does it take to use my account after I open it?

If you open online, your account is usually ready the same day or next business day, but you cannot use a debit card until it arrives by mail (7 to 10 days). If you open in a branch, you can use a temporary debit card when ready and receive a permanent card by mail later.

Can I open more than one account at Chase?

Yes. You can open a checking account and a savings account at the same time, or open multiple accounts of the same type. Each account is separate, and you can manage them all through the same login.