Ready to dive into the world of banking? Opening a bank account can seem like a daunting task, but with the right information, it's a straightforward process. If you're considering opening an account with Chase Bank, one of the largest and most well-known banks in the United States, you're likely wondering: how much does it cost to make a Chase bank account? The good news is that opening a Chase bank account often costs $0 in terms of an initial deposit. However, the costs associated with a Chase bank account typically come in the form of monthly service fees, which vary depending on the type of account you choose. The excellent news is that these monthly fees are frequently waivable if you meet certain criteria.
Let's break down everything you need to know about the costs and process of making a Chase bank account.
Step 1: Discover Which Chase Account is Right for You (and its Potential Fees!)
Before anything else, let's explore the different types of Chase checking and savings accounts and their associated fees. This is where you, the user, get to actively participate in your banking journey! Think about your financial habits, what you need from a bank, and what kind of balance you typically maintain. This will help you identify the best fit.
Chase Checking Accounts
Chase offers several checking account options, each with different features and fee structures. Here's a look at the most common ones:
Chase Total Checking®: This is arguably Chase's most popular checking account.
Monthly Fee: $12 (effective August 24, 2025, this will increase to $15).
How to Waive the Fee: You can avoid this monthly fee by meeting one of the following conditions each statement period:
Have electronic deposits (like direct deposit from your employer or government benefits) totaling $500 or more.
Maintain a beginning daily balance of $1,500 or more in this account.
Maintain an average beginning daily balance of $5,000 or more across this account and any linked qualifying Chase accounts.
Minimum Opening Deposit: Often $0.
Chase Secure Banking℠: This account is designed for those who want a simpler banking experience with no overdraft fees.
Monthly Fee: $4.95.
How to Waive the Fee: The fee can be waived if you have electronic deposits totaling $250 or more each month.
Minimum Opening Deposit: Often $0.
Note: This account does not allow for paper checks.
Chase Premier Plus Checking℠: This account offers more benefits than Total Checking, including some non-Chase ATM fee waivers and interest on balances (though rates can be very low).
Monthly Fee: $25.
How to Waive the Fee: You can waive this fee by:
Maintaining a beginning daily balance of $15,000 or more across linked Chase accounts.
Enrolling the account for automatic payments to a linked qualifying Chase first mortgage.
Being a current U.S. Armed Forces member or veteran.
Minimum Opening Deposit: Often $0.
Chase Sapphire℠ Checking: A premium checking account offering enhanced benefits, including no ATM fees worldwide and higher withdrawal limits.
Monthly Fee: $25.
How to Waive the Fee: Maintain a minimum average beginning daily balance of $75,000 or more across linked Chase accounts.
Minimum Opening Deposit: Often $0.
Chase Private Client Checking℠: The highest tier of checking accounts, offering personalized service and comprehensive benefits.
Monthly Fee: $35.
How to Waive the Fee: Maintain a minimum average beginning daily balance of $150,000 or more across linked Chase accounts, or link a Chase Platinum Business Checking℠ account.
Minimum Opening Deposit: Often $0.
Chase College Checking℠: Specifically designed for students.
Monthly Fee: Typically $0 for up to five years, provided you give your expected graduation date when opening.
How to Waive the Fee (after the waiver period): After the initial waiver, the fee becomes $12 (or $15 effective 8/24/2025) unless you meet the same waiver requirements as Chase Total Checking.
Minimum Opening Deposit: Often $0.
Important: Students aged 17-24 are eligible and may need to provide proof of enrollment.
Chase Savings Accounts
Chase also offers savings accounts that can be linked to your checking.
Chase Savings℠: A basic savings account.
Monthly Fee: $5.
How to Waive the Fee: You can waive this fee by meeting one of the following conditions each statement period:
Maintain a beginning daily balance of $300 or more in this account.
Have $25 or more in total Autosave or other repeating automatic transfers from your personal Chase checking account.
Have a Chase College Checking℠ account linked for Overdraft Protection.
The account owner is an individual younger than 18.
Have a linked Chase Premier Plus Checking℠, Chase Sapphire® Checking, or Chase Private Client Checking℠ account.
Minimum Opening Deposit: Often $0.
Step 2: Gather Your Documents – The "No Cost" but Necessary Prep
While there isn't a direct "cost" in this step, it's crucial for a smooth application process. Before you open any account, you'll need to gather some essential documents to verify your identity and address.
What You'll Likely Need:
Proof of Identity: This is usually a valid, government-issued photo ID.
Examples: U.S. Driver's License or State ID, U.S. Passport, Alien Registration Card.
Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN): This is for tax reporting purposes.
Proof of Address: Documents that show your current residential address.
Examples: Utility bill (gas, electric, water), bank statement from another institution, credit card statement, mortgage statement, or lease agreement. These documents usually need to be recent.
Initial Deposit (Optional but Recommended): While many Chase accounts have a $0 minimum opening deposit, having funds ready can initiate your banking relationship immediately. You can typically fund the account via:
Debit card from another bank.
ACH transfer from another bank.
Cash (if opening in a branch).
Step 3: Choose Your Application Method – Online or In-Person
Chase offers convenience in how you can open your account. You can choose the method that best suits your comfort level.
Option 1: Applying Online (Convenient and Quick!)
Visit the Chase Website: Go to Chase.com and navigate to the "Personal Banking" section. You'll typically find options to "Open an Account" or "Compare Accounts."
Select Your Account: Choose the checking and/or savings account type you decided on in Step 1.
Fill Out the Application: You'll be prompted to enter your personal information, including your name, address, SSN, date of birth, and contact details. Be sure to double-check everything for accuracy.
Upload Documents (if prompted): In some cases, you might be asked to upload scans or photos of your identification and proof of address.
Fund Your Account: If you choose to make an initial deposit, you'll enter the details for your funding method (e.g., debit card information or routing/account numbers for an ACH transfer).
Review and Submit: Carefully review all the information before submitting your application.
Confirmation: You'll usually receive an instant decision or a confirmation that your application is being reviewed. If approved, you'll get details on when to expect your debit card and welcome kit.
Option 2: Applying In-Person at a Chase Branch (Personalized Assistance!)
Locate a Branch: Use the Chase website or app to find the nearest Chase bank branch.
Bring Your Documents: Ensure you have all the necessary identification and proof of address as outlined in Step 2.
Speak with a Banker: A Chase representative will guide you through the application process, answer any questions you have about account features and fees, and help you choose the best account for your needs.
Complete the Application: The banker will assist you in filling out the required forms.
Make Your Initial Deposit: You can deposit cash or a check directly with the banker.
Receive Immediate Assistance: This is a great option if you prefer face-to-face interaction or have specific questions that you want answered in person. You might even receive a temporary debit card on the spot.
Step 4: Understand and Manage Ongoing Fees (The Key to Cost-Effectiveness!)
This is perhaps the most critical step in ensuring your Chase bank account remains cost-effective. While opening an account may be free, understanding and actively managing the monthly service fees is where you can truly save money.
Tips for Avoiding Monthly Service Fees:
Set Up Direct Deposit: For many Chase checking accounts, establishing a qualifying direct deposit (often $500 or more for Chase Total Checking) is one of the easiest ways to waive the monthly fee. Automate this process as soon as your account is open!
Maintain Minimum Balances: If direct deposit isn't an option, focus on keeping the required minimum daily or average daily balance in your account or across linked Chase accounts. This requires consistent monitoring of your balance.
Link Accounts: If you have multiple Chase accounts (checking and savings), maintaining a combined minimum balance can often waive fees for both. This incentivizes you to keep all your banking with Chase.
Utilize Student Status (for College Checking): If you're a student, ensure your College Checking account is properly registered with your graduation date to enjoy the fee waiver for up to five years.
Consider Secure Banking if Fees are a Concern: If you anticipate difficulty meeting waiver requirements, Chase Secure Banking's lower, more easily waivable fee might be a better fit, especially if you don't need paper checks.
Review Account Statements Regularly: Keep an eye on your statements to ensure you're meeting the waiver requirements and aren't being charged unexpected fees.
Leverage Promotions: Chase frequently offers sign-up bonuses for new accounts, which can effectively offset any initial fees or even provide a financial incentive. Keep an eye out for these promotions, as they can be quite generous (e.g., $300 for Chase Total Checking, or even up to $900 for opening both checking and savings with specific deposit/balance requirements). These promotions often have specific direct deposit or balance maintenance requirements to qualify for the bonus.
Other Potential Fees to Be Aware Of:
While monthly service fees are the main ongoing cost, be mindful of other potential fees:
ATM Fees: While using Chase ATMs is free, you may incur fees for using non-Chase ATMs (both from Chase and the ATM owner). Premium accounts like Chase Sapphire Checking may waive these.
Overdraft Fees: If you spend more money than you have in your account, Chase may charge an overdraft fee ($34 per overdraft, up to 3 times per day for some accounts). However, Chase Overdraft Assist℠ offers some flexibility, with $0 overdraft fees if you're overdrawn by $50 or less at the end of the day, or if you bring your balance to overdrawn by $50 or less by the end of the next business day. Chase Secure Banking has no overdraft fees.
Wire Transfer Fees: Both incoming and outgoing wire transfers can incur fees. Online transfers are often cheaper than those processed by a banker.
Stop Payment Fees: If you need to stop payment on a check, there's usually a fee.
Money Order/Cashier's Check Fees: Issuing these can also come with a small charge.
Foreign Transaction Fees: When using your debit card for transactions in a currency other than US dollars, a foreign transaction fee (often 3% of the transaction amount) may apply. Again, premium accounts like Chase Sapphire Checking may waive this.
By understanding these potential costs and actively managing your account, you can make a Chase bank account an efficient and virtually free tool for your financial needs.
Step 5: Activate Your Account and Start Banking!
Once your application is approved and any initial deposit is made, you're ready to start using your new Chase account!
Receive Your Debit Card: Your debit card will typically arrive in the mail within 5-7 business days.
Activate Your Card: Follow the instructions provided to activate your debit card. This usually involves a phone call or an online activation.
Set Up Online Banking: Register for Chase Online℠ and download the Chase Mobile® app. This will allow you to manage your account, pay bills, transfer money, and deposit checks digitally.
Enroll in Alerts: Set up account alerts to monitor your balance, transactions, and potential fees. This is a proactive way to stay on top of your finances.
Start Using Your Account: Begin using your new account for direct deposits, bill payments, and everyday spending.
By following these steps, you'll be well on your way to successfully making and managing your Chase bank account. Remember, the "cost" of a Chase bank account is largely determined by your ability to meet the monthly service fee waiver requirements.
10 Related FAQ Questions
Here are 10 common questions related to opening a Chase bank account, with quick answers:
How to open a Chase bank account without a minimum deposit?
Many Chase checking and savings accounts, including Chase Total Checking and Chase Savings, have a $0 minimum opening deposit requirement. You can open them without putting money in right away.
How to avoid monthly fees on a Chase Total Checking account?
You can avoid the $12 (or $15 effective 8/24/2025) monthly fee by having electronic deposits of $500+ per month, maintaining a $1,500+ daily balance in the account, or an average beginning day balance of $5,000+ across linked Chase accounts.
How to get a Chase bank account opening bonus?
Chase frequently offers sign-up bonuses for new accounts. To qualify, you typically need to open a new account using a specific promotion link or coupon, and then meet certain requirements like receiving a qualifying direct deposit or maintaining a minimum balance for a set period. Check the Chase website for current offers.
How to open a Chase College Checking account?
To open a Chase College Checking account, you must be 17-24 years old and provide your school name and expected graduation date. You may also need a valid student ID or proof of enrollment/acceptance.
How to check if my Chase account has a monthly fee waiver?
You can usually find information about your account's fee waiver status and criteria on your monthly bank statement, within your Chase Online banking portal, or by contacting Chase customer service.
How to transfer money into a new Chase account?
You can transfer money into a new Chase account via an ACH transfer from another bank, a wire transfer, a mobile check deposit using the Chase app, or by depositing cash or a check at a Chase branch or ATM.
How to activate my new Chase debit card?
You can activate your new Chase debit card by calling the number on the sticker attached to the card, by logging into your Chase Online account, or through the Chase Mobile app.
How to get my Social Security benefits deposited into a Chase account?
You can set up direct deposit for your Social Security benefits by contacting the Social Security Administration directly and providing them with your Chase account's routing number and account number.
How to find the nearest Chase bank branch or ATM?
You can easily find the nearest Chase bank branch or ATM by using the "Locations" or "Find a Branch/ATM" feature on the Chase website or within the Chase Mobile app.
How to close a Chase bank account?
To close a Chase bank account, you can typically visit a Chase branch in person, call Chase customer service, or send a written request to the bank. Ensure your balance is zero or positive before closing.
