You're wondering about opening a Chase bank account and want to know how much money you need to get started. That's a fantastic first step towards taking control of your finances! Many people are curious about this, and the good news is, it's often less than you think. Let's break down everything you need to know about opening a Chase bank account, from initial deposits to avoiding fees.
The Big Question: How Much Do I Need to Open a Chase Bank Account?
Here's the exciting part: For most of Chase's personal checking and savings accounts, the minimum opening deposit is $0!
Yes, you read that right. Zero dollars.
This is a common feature for many of their popular accounts, like Chase Total Checking® and Chase Secure Banking℠, as well as their standard Chase Savings℠ account. While you can open an account with no initial deposit, it's often a good idea to put some money in right away to start your banking journey.
However, it's important to understand that while there might not be a minimum to open the account, there are often monthly service fees that can be waived by meeting certain balance requirements or direct deposit thresholds. We'll delve into those details next.
Step 1: Discover Your Ideal Chase Account
Before you even think about money, let's explore the different types of accounts Chase offers. Choosing the right account is crucial, as it impacts everything from fees to features.
Understanding Chase Checking Accounts
Chase offers a variety of checking accounts, each designed for different financial needs. Here are some of the most common ones and their key features:
Chase Total Checking®: This is Chase's most popular checking account, offering all the banking essentials. While it has a standard monthly service fee (currently $12, potentially $15 effective August 24, 2025), this fee is easily avoidable if you meet specific criteria.
Monthly Fee Waiver Options:
Have direct deposits totaling $500 or more each month.
Maintain a minimum daily balance of $1,500 or more in this account.
Maintain an average beginning day balance of $5,000 or more across qualifying linked Chase accounts.
Chase Secure Banking℠: This is a simpler checking account designed for those who want to avoid overdraft fees. It has a lower monthly service fee ($4.95) and no overdraft fees.
Monthly Fee Waiver Options:
Make electronic deposits into the account totaling $250 or more each month.
Chase Premier Plus Checking℠: This account offers more benefits than Total Checking, including waived fees on some services and potentially higher interest rates on linked savings accounts. It has a higher monthly fee ($25).
Monthly Fee Waiver Options:
Maintain a minimum balance of $15,000 or more across linked Chase accounts at the beginning of each day.
Enroll the account for automatic payments to a linked qualifying Chase first mortgage.
Be a current U.S. Armed Forces member or veteran.
Chase Sapphire℠ Checking: A premium checking account for customers with significant assets. It offers extensive benefits like no ATM fees worldwide and dedicated customer support. It has a monthly fee of $25.
Monthly Fee Waiver Options:
Maintain a minimum average balance of $75,000 or more across linked Chase accounts at the beginning of each day.
Chase Private Client Checking℠: The most exclusive checking account, designed for high-net-worth individuals. It comes with a monthly fee of $35.
Monthly Fee Waiver Options:
Maintain a minimum average balance of $150,000 or more across linked Chase accounts at the beginning of each day, or link a Chase Platinum Business Checking℠ account.
Understanding Chase Savings Accounts
Chase also offers savings accounts to help you grow your money.
Chase Savings℠: The standard savings account. It has a monthly service fee of $5.
Monthly Fee Waiver Options:
Maintain a balance at the beginning of each day of $300 or more in this account.
Have at least one repeating automatic transfer of $25 or more from your personal Chase checking account.
Be an account owner who is an individual younger than 18.
Have a linked Chase Premier Plus Checking℠, Chase Sapphire® Checking, or Chase Private Client Checking℠ account.
Chase Premier Savings℠: This is a tiered savings account linked to eligible Chase checking accounts that can earn slightly higher rates. It has a monthly fee of $25.
Monthly Fee Waiver Options:
Maintain a balance of $15,000 or higher at the beginning of each day.
Link a Chase Premier Plus Checking℠ or Chase Sapphire® Checking account.
Remember: While some accounts have a $0 minimum to open, the key is to understand the requirements to avoid monthly fees.
Step 2: Gather Your Documents – The "What You'll Need" Checklist
Regardless of the initial deposit amount, you'll need specific documentation to open any bank account, including one at Chase. Having these ready will make the process much smoother.
Essential Identification and Information
You'll generally need to provide:
Primary Photo ID: This could be a valid U.S. Driver's License, State ID, or Passport. Make sure it's current and clearly shows your photo and information.
Secondary ID (if required): Sometimes a second form of ID is requested. This could be your Social Security Card, a birth certificate (for minors), or another government-issued ID.
Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN): This is a mandatory requirement for tax reporting purposes.
Proof of Address: This must show your name and current residential address. Accepted documents often include a recent utility bill, a bank statement from another institution, a credit card statement, or mortgage/lease documents. Ensure the address on your ID matches your proof of address.
Date of Birth: You must meet the age requirements for the specific account type. Generally, you need to be at least 18 years old to open a checking account, though some student accounts have lower age limits, often requiring a parent or guardian as a co-owner.
Information to Have Handy (Though Not Always Required Upfront)
Employment Information: Your current employer and job title may be requested.
Contact Information: Phone number and email address.
Initial Funding Details: If you plan to make an initial deposit immediately (which is recommended), have your debit card details, bank account and routing numbers for an ACH transfer, or cash ready.
Step 3: Choose Your Opening Method – Online vs. In-Person
Chase offers two convenient ways to open an account. Decide which one works best for you.
Opening Online
This is often the fastest and most convenient option if you're comfortable with digital processes.
Visit the Chase Website: Go to the official Chase bank website (chase.com).
Browse Accounts: Navigate to the "Checking" or "Savings" sections and compare the different account options. Pay close attention to the monthly fees and how to waive them.
Click "Open Account" or "Apply Now": Once you've chosen your account, click the button to start the online application.
Complete the Application: You'll be guided through a series of screens where you'll input your personal information, employment details, and answer security questions.
Upload Documents (if prompted): For identity verification, you might be asked to upload images of your ID and proof of address. Ensure these are clear and legible.
Fund Your Account: If you choose to make an initial deposit, you can usually do so via an ACH transfer from another bank account, or by using a debit card.
Review and Submit: Carefully review all the information you've provided before submitting your application.
Confirmation: You'll receive a confirmation email once your application is submitted. Chase may take a few business days to review and approve your account.
Opening In-Person at a Branch
If you prefer face-to-face interaction or have questions that require personal assistance, visiting a Chase branch is a great option.
Locate a Branch: Use the Chase website's "Branch & ATM locator" to find the nearest branch to you.
Gather Your Documents: As detailed in Step 2, bring all your necessary identification and proof of address.
Speak with a Banker: A Chase representative will guide you through the application process, explain account features, and answer any questions you have.
Complete Paperwork: You'll fill out the application form with the banker's assistance.
Make Your Initial Deposit: You can deposit cash or a check directly at the teller window.
Sign Documents: Sign all the necessary agreements and disclosures.
Receive Account Information: You'll typically receive your account number and temporary debit card on the spot. Your permanent debit card will be mailed to you within a few business days.
Step 4: Funding Your Account and Avoiding Fees – The Smart Money Move
While you can open many Chase accounts with $0, the real "cost" comes in avoiding monthly service fees. This is where your strategy comes in.
Initial Deposit vs. Minimum Balance to Waive Fees
It's crucial to distinguish between the two:
Minimum Opening Deposit: This is the amount, if any, required to initiate the account opening process. As we've established, for many Chase accounts, this is $0.
Minimum Balance/Activity to Waive Monthly Fees: This is an ongoing requirement to avoid the monthly service charge. If you don't meet these criteria, you will be charged a fee.
Strategies to Waive Monthly Fees
Set Up Direct Deposit: For accounts like Chase Total Checking®, having your paycheck or other regular income directly deposited is one of the easiest ways to avoid fees.
Maintain a Minimum Balance: If you can consistently keep a certain amount of money in your account, this is another effective fee-waiver method. Be mindful of the specific balance required for your chosen account.
Link Accounts: For Premier and Sapphire accounts, linking other qualifying Chase accounts (like investment accounts) can help you meet the higher aggregate balance requirements.
Automatic Transfers (for Savings): For Chase Savings℠, setting up an automatic transfer of just $25 or more from your Chase checking account can waive the fee. This is a great way to build savings too!
Age-Based Waivers: Chase offers fee waivers for individuals under 18 (for savings) or often for students (for specific checking accounts like Chase College Checking℠).
Military Status: Chase Premier Plus Checking℠ waives fees for current U.S. Armed Forces members or veterans.
Pro Tip: Don't just open the account and forget about it. Actively manage your account to ensure you meet the fee waiver requirements each month!
Step 5: Activate Your Account and Start Banking!
Once your account is open, there are a few final steps to get fully set up:
Activate Your Debit Card: Follow the instructions provided with your new debit card to activate it. You'll usually need to call a phone number or make a transaction at an ATM.
Set Up Online Banking and Mobile App: Enroll in Chase Online Banking and download the Chase Mobile® app. This will allow you to manage your accounts, pay bills, deposit checks, and transfer funds from anywhere.
Enroll in Zelle®: If you plan on sending or receiving money quickly from friends and family, enroll in Zelle through your Chase app.
Set Up Direct Deposit (if applicable): Provide your new Chase account and routing numbers to your employer or benefit provider to set up direct deposit and ensure you meet any fee waiver requirements.
Link External Accounts: If you have accounts at other financial institutions, you can link them to your Chase account for easier transfers and financial management.
Congratulations! You're now ready to fully utilize your new Chase bank account.
10 Related FAQ Questions
Here are some common "How to" questions related to opening a Chase bank account, with quick answers:
How to open a Chase bank account with no money?
You can often open a Chase bank account, such as Chase Total Checking® or Chase Secure Banking℠, with a $0 minimum opening deposit. However, you'll need to meet specific criteria (like direct deposit or maintaining a balance) to avoid monthly service fees later on.
How to avoid monthly fees on a Chase Total Checking account?
To avoid the $12 (or $15) monthly fee, you can receive direct deposits totaling $500 or more per month, maintain a $1,500 minimum daily balance, or have an average daily balance of $5,000 across linked Chase accounts.
How to waive the monthly fee on a Chase Savings account?
The $5 monthly fee for Chase Savings℠ can be waived by maintaining a $300 beginning daily balance, setting up at least one recurring automatic transfer of $25 or more from a Chase checking account, being under 18, or linking a qualifying premium Chase checking account.
How to open a Chase bank account for a minor?
For minors (typically under 18), a parent or legal guardian usually needs to be a co-owner on the account. You'll need to visit a Chase branch to open a minor's account, bringing identification for both the minor and the adult co-owner.
How to get a sign-up bonus when opening a Chase account?
Chase frequently offers sign-up bonuses for new checking and sometimes savings accounts. To qualify, you typically need to meet specific requirements within a certain timeframe, such as making qualifying direct deposits or maintaining a minimum balance. Check Chase's website for current offers and their terms.
How to find the nearest Chase branch to open an account?
You can easily find the nearest Chase branch by visiting the "Branch & ATM locator" on the official Chase website (chase.com) and entering your address or zip code.
How to transfer money into a new Chase account after opening?
You can transfer money into your new Chase account through various methods: an ACH transfer from an external bank account, a wire transfer, a mobile check deposit using the Chase app, depositing cash or checks at a Chase ATM or branch, or by setting up direct deposit.
How to link other Chase accounts to waive fees?
For certain premium accounts (like Chase Premier Plus Checking℠ or Chase Sapphire® Checking), you can link other qualifying Chase accounts (checking, savings, investments) to combine balances and meet the higher minimum balance requirements for fee waivers. This is often done automatically if accounts are under the same customer profile.
How to know which Chase account is right for me?
Consider your typical banking habits:
If you receive regular direct deposits: Chase Total Checking® is often a good fit.
If you want to avoid overdrafts and keep it simple: Chase Secure Banking℠ might be best.
If you keep higher balances and want more perks: Explore Chase Premier Plus Checking℠ or Chase Sapphire® Checking.
For savings goals: Chase Savings℠ or Chase Premier Savings℠ are options, especially if linked to a checking account.
How to manage my Chase account online or with the mobile app?
Once your account is open, you can enroll in Chase Online Banking on their website. Then, download the Chase Mobile® app to your smartphone. Log in with your new credentials to manage transactions, view balances, pay bills, deposit checks, and more, all from your computer or mobile device.
