Chase is the largest bank in the United States with over 4,700 branches. It’s also one of the most expensive if you don’t meet minimum balance requirements. Here’s exactly what every Chase account requires and how to avoid paying fees.
Chase Checking Account Minimums
Every Chase Checking Account Compared
| Account | Monthly Fee | Minimum Balance to Waive | Balance Type | Other Waivers |
|---|---|---|---|---|
| Secure Banking | $4.95 | Cannot be waived | — | None |
| Total Checking | $12 | $1,500 | Average daily | $500+ direct deposit, or 5 qualifying transactions |
| Premier Plus Checking | $25 | $75,000 | Average combined daily | $500+ auto mortgage payment from this account |
| Sapphire Checking | $25 | $150,000 | Average combined daily | Chase Private Client relationship |
Chase Total Checking: What Counts
Total Checking is Chase’s most popular account. Here’s what counts toward each waiver:
$1,500 average daily balance:
- Includes only the checking account balance
- Calculated as the sum of each day’s ending balance ÷ number of days in the statement cycle
- If your balance is $2,000 for 20 days and $500 for 10 days, your average = ($2,000 × 20 + $500 × 10) ÷ 30 = $1,500 — exactly meeting the threshold
$500+ direct deposit:
- Employer payroll deposits count
- Government benefit payments (Social Security, unemployment) count
- Person-to-person transfers (Venmo, Zelle, PayPal) do not count
- Transfers from other banks do not count
- Must total $500+ per statement period
5 qualifying transactions:
- Debit card purchases count
- Chase QuickPay/Zelle payments count
- Bill payments through Chase Online count
- ATM withdrawals do not count
- Transfers between Chase accounts do not count
Chase Secure Banking
| Feature | Details |
|---|---|
| Monthly fee | $4.95 |
| Can fee be waived? | No |
| Minimum balance | $0 |
| Check writing | Not included |
| Overdraft fees | Not possible (transactions declined) |
| Best for | Those who want to avoid overdraft fees and don’t mind paying $4.95/month |
The $4.95 fee is the trade-off for no overdraft risk. Annual cost: $59.40.
Chase Savings Account Minimums
| Account | Monthly Fee | Minimum Balance to Waive | Other Waivers |
|---|---|---|---|
| Chase Savings | $5 | $300 daily balance | Linked qualifying checking account, automatic $25+ transfer from checking, OR under age 18 |
| Chase Premier Savings | $25 | $15,000 average daily | Linked Premier Plus or Sapphire Checking |
Chase Savings: Easiest Waivers
The $300 minimum for Chase Savings is one of the easiest to meet at a big bank. But you have three other ways to waive it:
- Link to a Chase checking account — Any Chase checking account (including Total Checking) waives the savings fee
- Set up a $25 automatic transfer — Schedule a recurring monthly transfer from your Chase checking to savings
- Be under 18 — Student/minor accounts have no fees
Pro tip: If you already have Chase Total Checking, your savings fee is automatically waived. Most Chase checking customers don’t need to worry about the savings minimum.
Chase CD Minimums
| CD Term | Minimum Deposit | Typical APY | Early Withdrawal Penalty |
|---|---|---|---|
| 1 month | $1,000 | 0.02% | 7 days interest |
| 3 months | $1,000 | 2.00% | 90 days interest |
| 6 months | $1,000 | 2.00-3.50% | 90 days interest |
| 9 months | $1,000 | 2.00-3.50% | 90 days interest |
| 1 year | $1,000 | 2.50-4.00% | 180 days interest |
| 18 months | $1,000 | 2.00-3.75% | 180 days interest |
| 2 years | $1,000 | 2.00-3.50% | 180 days interest |
| 3 years | $1,000 | 2.00-3.00% | 365 days interest |
| 5 years | $1,000 | 2.00-3.00% | 365 days interest |
Key detail: Chase’s $1,000 CD minimum is higher than Ally ($0), Capital One ($0), and Synchrony ($0), but lower than Wells Fargo ($2,500) and Discover ($2,500).
Chase CD rates are typically 1-2 percentage points below the best online bank CD rates. A 1-year Chase CD at 3.50% vs. an Ally CD at 4.75% means $12.50 less per $1,000 per year.
Chase Investment Account Minimums
| Account | Minimum to Open |
|---|---|
| J.P. Morgan Self-Directed Investing | $0 |
| J.P. Morgan Automated Investing (robo-advisor) | $500 |
| J.P. Morgan Personal Advisors | $25,000 |
| J.P. Morgan Private Client | $150,000+ |
Self-directed investing has no minimums, but the robo-advisor requires $500 — higher than Betterment ($0 for digital) but lower than some competitors.
The True Cost of Chase’s Minimums
Scenario: Average Customer
| Fee | Monthly | Annual | 10-Year |
|---|---|---|---|
| Total Checking (no waiver met) | $12 | $144 | $1,440 |
| Chase Savings (no waiver met) | $5 | $60 | $600 |
| Total fees | $17 | $204 | $2,040 |
Opportunity Cost of Required Minimums
That $1,500 minimum balance sitting in Chase Total Checking earns 0.01% APY. Here’s what it could earn elsewhere:
| Where | APY | Annual Earnings on $1,500 |
|---|---|---|
| Chase checking | 0.01% | $0.15 |
| High-yield savings | 4.25% | $63.75 |
| 1-year CD (online) | 4.75% | $71.25 |
Real cost of maintaining Chase’s minimum: $63.60/year in lost interest + risk of a $12/month fee if you dip below. Over 10 years, that’s $636+ in lost interest alone.
How to Avoid Chase Fees
Best Strategies by Income Level
| Income Level | Best Strategy |
|---|---|
| Any income with direct deposit | Set up $500+ direct deposit to waive Total Checking fee |
| Building savings | Keep $300+ in Chase Savings or link to checking |
| Low or variable income | Chase Secure Banking ($4.95 flat) or switch to an online bank |
| High balance ($75K+) | Premier Plus Checking (all fees waived) |
Step-by-Step: Waive Your Chase Fees
- Set up direct deposit — Contact your employer’s payroll department and provide your Chase routing and account number
- Link checking and savings — Have both accounts under the same Chase profile to auto-waive the $5 savings fee
- Monitor your balance — Use the Chase app to set up low balance alerts at $1,600 (giving you a $100 buffer above the $1,500 threshold)
- Check fee info monthly — In the Chase app, tap your account → “Things you should know” → “Account fee” to see if you’ve met the waiver
Chase vs. No-Minimum Alternatives
| Feature | Chase Total Checking | Ally Checking | Capital One 360 |
|---|---|---|---|
| Monthly fee | $12 | $0 | $0 |
| Minimum balance | $1,500 (or $500 DD) | $0 | $0 |
| APY | 0.01% | 0.10-0.25% | 0.10% |
| ATM network | 16,000 Chase ATMs | 43,000+ Allpoint ATMs | 70,000+ Capital One + Allpoint |
| ATM fee reimbursement | No | Up to $10/month | No |
| Branches | 4,700+ | None | 280+ cafes/branches |
| Overdraft fee | $34 | $0 (transfers from savings) | $0 |
| Zelle | Yes | Yes | Yes |
| Mobile deposit | Yes | Yes | Yes |
Why people stay with Chase: Branch access. If you need in-person services (cashier’s checks, notarization, safe deposit boxes, cash deposits), Chase’s 4,700+ branches are hard to beat. If you don’t need branches, there’s no financial reason to pay Chase’s fees.
The Bottom Line
| Chase Account | Monthly Fee | Easiest Waiver |
|---|---|---|
| Secure Banking | $4.95 | Cannot be waived |
| Total Checking | $12 | $500+ direct deposit |
| Premier Plus | $25 | $75,000 combined balance |
| Savings | $5 | Link to any Chase checking |
| Premier Savings | $25 | $15,000 balance |
Chase’s minimum balance requirements are higher than average but manageable if you have regular direct deposits. The $500 direct deposit waiver for Total Checking is the most practical path for most customers. If you can’t reliably meet any waiver, switching to an online bank will save you $144-$300+ per year.