Chase Bank Account Opening Costs and Requirements

Opening a bank account at Chase might not involve immediate financial outlay, but various factors and requirements come into play. Let's dive into the details to help you understand the process and costs involved.

Checking Accounts at Chase

Chase Total Checking offers a monthly fee-free experience if you maintain a minimum daily balance of $1,500 or have direct deposits of $500 or more each month. Without meeting these criteria, a monthly fee of $12 applies.

Chase Secure Checking includes a monthly fee of $4.95 with no minimum balance requirement.

Savings Accounts at Chase

Chase Savings features no monthly fee if you maintain a minimum daily balance of $300. Otherwise, a monthly fee of $5 applies.

When opening an account, some initial deposits are required. Typically, the range is $25 to $100, but direct deposit often helps in bypassing this fee.

Additional Costs and Requirements

Additional costs might include:

Average Opening Deposit: Most Chase accounts require a minimum opening deposit. However, the amount can vary. ATM Fees: If you use a non-Chase ATM in the U.S., you may incur a $2.50 fee.

Chase Sapphire Checking does not charge for overdrafts up to four times within 12 months, with a maximum of $34 per overdraft transaction.

Special Offers at Chase

Currently, there is a special program offering $200 to open a new account. However, this amount is generally not deposited into your account until six months after the account opens. It’s wise to check with Chase directly for the most updated information on any special offers.

Steps to Open a Chase Account

Visit the official Chase website or contact their customer service. Choose the account type that best suits your needs (checking, savings, or both). Decide on how to fund the account (initial deposit or direct deposit). Visit a Chase branch (or use online or mobile banking) to complete the application.

Keep in mind that account features and fees can change, so it’s important to verify the most current information directly from Chase.

Key Points to Remember:

Direct deposits often help in avoiding opening deposit fees. Monthly fees can be waived with certain account balances or direct deposit requirements. ATM fees applied outside of Chase networks. No interest is offered on the balances. Overdraft protection comes at a fee, except for the Chase Sapphire Checking account.

Understanding these details can help you make an informed decision about opening a bank account at Chase. Always check the official website or contact Chase for the most up-to-date information.