How To Avoid Chase’s Monthly Service Fees
JPMorgan Chase is one of the biggest banks in America, providing customers with a range of banking products. But a big bank still needs to pay the bills, and the banking fees associated with Chase’s checking and savings accounts help do that.
The good news is that these fees can often be waived by maintaining a qualifying account balance, setting up direct deposits or by qualifying for fee waivers in other ways. Here’s what you need to know about Chase’s monthly maintenance fees and how to avoid them.
Chase Checking Account Fees
Chase checking account monthly maintenance fees vary from $4.95 to $25 for the bank’s standard checking options, and from $25 to $35 for the bank’s premium checking options. Additionally, Chase offers three checking accounts designed for kids and students, which feature low service fees from $0 to $6.
Some Chase accounts also earn interest. Here’s a quick look at the monthly service fees and interest potential for Chase personal checking accounts.
Personal Checking Accounts
|Account||Monthly Service Fee||Earns Interest|
|Chase Secure Banking||$4.95||No|
|Chase Total Checking||$12 or $0||No|
|Chase Premier Plus Checking||$25 or $0||Yes|
|Chase Sapphire Checking||$25 or $0||Yes|
|Chase High School Checking||$0||No|
|Chase College Checking||$6 or $0||No|
|Chase First Banking||$0||No|
Business Checking Accounts
Chase also offers three business checking accounts for business owners. Chase offers multiple options to waive the monthly service fee.
|Account||Monthly Service Fee|
|Chase Business Complete Checking||$15 or $0|
|Chase Performance Business Checking||$30 or $0|
|Chase Platinum Business Checking||$95 or $0|
Chase checking accounts usually come with additional fees, such as when you use an out-of-network ATM. Most Chase personal checking accounts include the following fees. Note that Chase will waive some of these fees, depending on account type.
|ATM||$3 for any use of a non-Chase ATM in the U.S., Puerto Rico and the Virgin Islands; $5 for a withdrawal or $3 for transfers and inquiries at non-Chase ATM outside the U.S.|
|Foreign Exchange Rate Adjustment Fee||3% of transaction|
|Wire Transfers||$0 to $50, depending on where wire originated, whether it’s domestic or foreign and if it was initiated online.|
Chase Savings Account Fees
Even though Chase charges monthly maintenance fees on its savings accounts, it will waive the charges if you complete certain qualifying activities, such as maintaining a minimum average daily balance, making automatic transfers or linking to another Chase account. Here’s a breakdown of Chase savings account fees.
|Fee Type||Chase Savings||Chase Premier Savings|
|Monthly Maintenance||$5 or $0||$25 or $0|
|Savings Withdrawal Fee||$5 for withdrawals exceeding six||$5 for withdrawals exceeding six — waived with a balance of $15,000 or more|
Both Chase savings account options earn interest.
How To Avoid Chase’s Monthly Maintenance Fees
Chase, along with most banks, will waive maintenance fees if the requirements are met. Here’s how to avoid your Chase bank fees.
1. Maintain a Minimum Balance
You can avoid paying a Chase checking account fee by maintaining a minimum required amount in your account. Here are the minimum balances you need to avoid Chase’s monthly fees.
Minimum Balance To Waive Fees
- Chase Total Checking: Maintain a $1,500 beginning day balance or maintain a $5,000 beginning daily average balance across all accounts.
- Chase Premier Plus Checking: Maintain a $15,000 average beginning day balance across all accounts.
- Chase Sapphire Banking: Maintain a $75,000 average beginning day balance across all accounts.
- Chase College Checking: Maintain an average ending day balance of $5,000.
- Chase Business Complete Checking: Maintain an average minimum daily balance of $2,000 or more in the account.
- Chase Performance Business Checking: $35,000 average beginning day balance across all linked business accounts.
- Chase Platinum Business Checking: Maintain an average beginning day balance of $100,000 across all linked business accounts.
- Chase Savings: Maintain a beginning day balance of $300 in this account.
- Chase Premier Savings: Maintain a beginning day balance of $15,000 in this account.
2. Sign Up for Qualifying Direct Deposits
Another way to avoid paying fees on your checking account at Chase is to meet the minimum requirement for direct deposits. The following two Chase accounts allow this exemption:
- Chase Total Checking: $500 per statement cycle
- Chase College Checking: Any direct deposit
Note that this option is not available for the other Chase checking accounts.
3. Link a Chase Account
A third way to avoid checking account fees at Chase is to link your account to another Chase account. The Premier Plus, Business Complete Banking and Private Client checking accounts offer this option:
- Chase Premier Plus Checking: Link a Chase first mortgage enrolled in automatic payments.
- Chase Business Complete Banking: Link a Chase Private Client Checking account.
- Chase Private Client Checking: Link a Chase Platinum Business Checking account.
How To Avoid Chase Bank Overdraft Fees
To avoid an overdraft fee at Chase, the best thing to do is to make sure you don’t overdraw your account in the first place. If your account is overdrawn by more than $50, it’s subject to overdraft fees.
Chase charges a $34 fee per overdraft — up to a maximum of three fees per day or $102. You can avoid the overdraft fee by signing up for overdraft protection*. Then, the bank will cover your overdrawn checking account with money from your savings account without an added fee.
How To Avoid Chase ATM Fees
Chase Total Checking and Chase Secure Checking charge $3 if you use a non-Chase ATM in the United States. You can avoid these fees by searching Chase’s website for a Chase ATM near you.
Good To Know
Overseas, the ATM fee jumps up to $5 per withdrawal. You might also face charges imposed by the ATM operator. Whether in the U.S. or abroad, you can avoid ATM fees by using a Chase ATM.
Alternatively, you can sign up for Chase Premier Plus Checking, which offers the first four non-Chase ATM transactions for free during each statement period, or Chase Sapphire Checking, which waives all non-Chase ATM fees and even reimburses you for all third-party ATM fees.
Getting the Most out of Your Chase Banking Account
Opening both a savings and checking account with Chase has plenty of advantages. Once you’ve opened a Chase Premier Savings Account, you can unlock Premier Relationship Rates if you link it with one of the following:
- Chase Premier Plus Checking
- Chase Sapphire Checking
From there, you’ll immediately be treated to an increased APY. Otherwise, your rate is only APY, the same as a standard savings account.
Also, if you are active-duty military, your service fee for the Chase Premier Checking account is $0, plus you’ll pay no ATM fees, wire transfers or foreign exchange rates.
Are Chase Products and Services Good for You?
Chase provides a solid selection of banking accounts that offer basic services for those seeking to build either checking or savings accounts. Its fees are evenly priced compared to other banks, and some of its checking accounts offer interest. For higher returns or smaller fees on a savings account, you may want to consider online banks, which do not have to factor in overhead costs and may even be a bit cheaper to maintain.
John Csiszar contributed to the reporting of this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Nov. 29, 2022.
*With Chase Overdraft AssistSM, we won’t charge an Insufficient Funds Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.
The information related to Chase Savings, Chase Premier Savings, Chase Total Checking, Chase Secure Banking, Chase Premier Plus Checking, Chase Sapphire Checking, Chase High School Checking, Chase College Checking, Chase First Banking, Chase Business Complete Checking, Chase Performance Business Checking and Chase Platinum Business Checking was collected by GOBankingRates and has not been reviewed or provided by the issuer of these products. Product details may vary. Please see issuer website for current information. GOBankingRates does not receive commission for these products.
Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Chase.