Are you looking for a bank where you can open a checking account? Look no further as Chase Bank is the ultimate solution for you. To start with, Chase bank is one of the nation’s largest full-service banks. It is known to offer a plethora of financial products and services to both individuals and businesses.
Here, you will not only open checking accounts but also savings and CD accounts. In fact, this bank is popularly known for its extensive credit card offering, travel rewards, and cash back credit cards. Since all these options are available to students and even adults, Chase bank is the ultimate solution to all your banking needs.
In this article, we shall take a closer look at the Chase checking account fees and the various fees charged per account. This way, you will be able to make an informed decision moving forward.
What are Chase Checking Account Fees?
Like we mentioned above, Chase allows its customers to open different kinds of checking accounts for individual and business purposes. Just like other banks, the bank normally requires you to pay a checking fee depending on the checking account that you choose to open. This way, the bank is able to remain afloat and pay its normal bill, just like any other enterprise out there.
You will note that Chase checking account normally attract maintenance fees from $4.95 to $25 for the bank standard checking options. However, for the bank premium checking option, you can expect to pay a monthly maintenance fee from $25 to $35. Besides this, Chase allows kids and students to open an account where they will be charged a monthly maintenance fee ranging from $0 to $6. Generally, you can expect to incur some costs in terms of monthly maintenance charges, across the spectrum when it comes to Chase checking accounts.
Here, the various chase checking account with their respective fees :
- Chase Secure banking account attracts a monthly service fee of $4.95.
- Chase Total Checking account attracts a monthly service fee of 12.
- Once you open Chase Premier Pius Checking account, be ready to pay a monthly service fee of $25.
- The Chase Sapphire Checking account attracts a monthly service fee of $25.
- Chase High School checking account fee attracts a monthly service fee of $0.
- Chase College checking account attracts a monthly service fee of $6.
- The Chase First Banking account attracts a monthly service fee of $0.
- Chase Private Client checking account attracts a monthly service fee of $35.
- Chase Business Complete Checking account attracts a monthly service fee of $15.
- The Chase Performance Business Checking account attracts a monthly service fee of $30.
- Chase Platinum Business Checking account attracts a monthly service fee of $95.
It is imperative to note that Chase checking account normally come with additional fees whenever you use an out-of-network ATM.
Here are the other fees that you can expect to pay especially if you have opened a Chase personal checking account :
- You will be expecting to pay $2.50 for a non-Chase ATM in the U.S, Virgin Islands, and Puerto Rico. However, for a non-Chase Bank outside the U.S, you can expect to pay $5.
- When you use the services of a cashier, you will be expected to pay $8.
- Money orders attract a $5 fee.
- The overdraft fee stands at $34.
- For Foreign Exchange rate adjustment, you can expect to pay a fee equivalent to 3% of the transaction made.
- For Wire Transfers, you will be charged a $0 to $50 fee, depending on where the wire originated. Here, it could either be domestic or foreign or better still, initiated online.
How Much Does it Cost to Open a Chase Bank Account?
For you to open a Chase bank account there is a minimum initial deposit that you have to pay upfront. However, the amount needed depends on the kind of account that you want to open. For instance, if you want to open a checking account with Chase, you will need at least $25.
Benefits of Chase Checking Account Fees
There are many benefits of opening chase checking accounts.
They include the following:
- Availability of Many Branches : Chase bank is one of those banks that have established dominance in the US. You will note that this bank has more than 4700 branches and 16000 ATM. Figuratively; it is present in about 35 states in the US. Therefore, if you open a checking account you will be able to make withdraws from many locations regardless of where you are. This makes it more convenient for many people out there.
- Allows you Access Online Banking Services : With the proliferation of modern tech devices, banks have now appreciated the need to consider offering online banking services to all their clients. Chase bank is not an exemption. Here; you can expect that you will enjoy these services from the comfort of your home. You will be able to check balances, pay bills, and so forth using your mobile device. There is also an app that helps to make all these operations as seamless as possible.
- Quick Pay with Zelle : As we speak, you can now send money to friends and family even if they are clients in other banks. All this is made possible, thanks to Zelle apathy good news is that Zelle is free to use and your money will arrive within minutes. This makes it ideal if you are sending money to cater for emergency needs back at home or work.
- Your Money Remain Safe : Currently, there has been a rise in bank fraud cases where customers have lost a lot of money mysteriously. However, if you have opened a checking account with Chase bank, you can be sure that your money will be very safe. Chase credit and debit cards normally come with a chip technology that helps protect your card’s information from being skimmed or even copied. This way, you can be sure that your money will remain safe all the time.
- Great Customer Service : Every customer endeavors to enjoy good customer service all the time from the bank that he or she is a member. When it comes to customer care service, Chase bank does not disappoint and therefore, you are bound to enjoy great customer service anytime you, please. If you visit the website of this bank, there is a phone line that comes with an automated menu.
Here, you will be able to navigate and talk to a customer care representative so that your bank checking account issue can be addressed. You can actually make these calls from 8 A.M to midnight ET on weekdays. However, during the weekend, you will be allowed to make calls from 8 A.M to 8 P.M ET.
- Availability of Many Types of Checking Accounts : Unlike other banks that have a limited option when it comes to opening checking accounts, Chase bank allows you to open different checking accounts. Regardless of whether you are a student or a businessman, you can readily open a checking bank account here and start using it.
In fact, there are special accounts for discounts and benefits for military members. This freedom makes it ideal to open a chase checking bank account today.
The Best Chase Checking Account Fees in 2021
If you want to open a chase checking account, you should know that these accounts normally come with their own set of fees. Therefore, you should brace yourself for these fees so as to reduce any inconveniences. As we speak, Chase bank normally offers 3 types of checking accounts.
- The Chase Premier Plus Checking.
- Chase Total Checking account.
- Chase Premier Platinum Account.
You will note that that the above-mentioned bank accounts are different in a number of ways. However, the most significant different between them is that Chase Premier Plus accounts and the Chase Premier Platinum account normally pay interest while Chase Total checking does not.
Here, we shall take a closer look at these check accounts with their respective fees so that you can have a better understanding.
1. Chase Total Checking Account
To start with, this is one of the best overall checking accounts for personal banking as it comes with an easy way to waive the monthly fee. However, the monthly service fee for this account is normally $12. Besides this, you need to pay a minimum deposit of $25 so as to open an account. For students who are enrolled in college, the maintenance fee is normally reduced by half.
If you have opened this account you can be sure that there will be no Chase ATM fees at any in-network ATM. Also, you will be at liberty to make deposits at an in-network ATM near you at no additional cost. Finally, you will be free to access your Chase total checking account online and even pay your bills the way you please.
2. Chase Premium Plus Checking
Compared to Chase Total Checking account, Chase Premium Plus checking account is actually a mid-tier checking account. It is actually a good option if you are fond of using paper checks or you normally make periodic non-Chase ATMs withdrawals.
With this account you will be able to earn some interest on your money. However, this check bank account comes with a higher service fee of $25 per month. The current interest rate paid on the balance of the account is normally 0.01%.For you to open this bank account you need deposit a minimum of $25. When it comes to the use of an ATM, as long as you use an in-network ATM, you will not incur any charges. Besides this, you will enjoy 24-hour online banking access. You will also be able to pay your bills from the comfort of your home, thanks to the online banking services of Chase Bank.
3. Chase Premier Platinum Checking
Unlike other chase checking accounts, the monthly service fee for this checking account is normally $100. Generally, it is quite high. However, this account normally comes with a number of perks. For instance, you will not incur any ATM fees even if you use out-of-network ATM. There is also no fee for personal checks, cashier checks, or counter checks. In addition, you will not incur any fee for debit card replacement or for returned items. Finally, no wire transfer fee or extended overdraft fee. All these perks somehow cover-up for the high monthly maintenance fee of this checking account.
Is it Possible to Waiver the Maintenance Fee on the Checking Accounts?
Yes. You can now reduce the amount charged as a bank checking account maintenance fee by meeting a number of requirements.
Some of these requirements include:
- Ensure that you Maintain a Minimum Balance : When it comes to maintaining a minimum balance, different chase checking accounts normally have different requirements. For instance, Chase Total Checking account requires you to maintain a $1500 average beginning day balance. Better still, you should try and maintain a $5000 beginning-day average balance across all the accounts.
- Sign Up for Qualifying Direct Deposits : Besides maintaining a minimum balance, you should try to meet the minimum requirements for direct deposits. This way, you will be able to avert the costly maintenance fees charged on different checking accounts. However, this privilege only works for two Chase accounts namely;
- Chase College Checking where any direct deposit can work.
- Chase Total Checking where you should make a direct deposit of $500 per statement cycle.
- Link a Chase Account : Apart from the above-mentioned two methods, you can now avoid checking account fees by linking your account to another Chase account. The good news is that the Premier Plus, Private client and Business Complete Banking accounts offer this option.
How Chase Checking Account Fees Compare
Although you might have heard a lot about Chase checking accounts, it does not hurt to compare them with other national banks. After all, you would want to make a rational decision to get value for your hard-earned money. When it comes to Chase checking accounts fees and services, they are generally similar to those of other national banks. For instance, the $12 monthly fee that is charged for the Chase Total Checking is what Citibank and Bank of America normally charge.
However, if you want to reduce or waiver these fees, you should consider having direct deposits or better still keep a daily balance of at least $1500. When it comes to Wells Fargo, the checking maintenance fee is normally quite lower than that of Chase bank as it is $10.However,Wells Fargo offers 3 tiers of checking accounts. Apart from this, both Chase and Wells Fargo pay similar rates and charge almost the same amount for overdraft feels and normally have comparable rules when it comes to out-of-network ATM fees.
When it comes to sign-up bonuses, you will earn up to $200 with Chase but unfortunately, Wells Fargo does not offer any sign-up bonuses at the moment. Here are other comparisons that might help you make a better decision.
1. Axos Bank Rewards Checking
Compared to major banks such as Chase, the above-mentioned account is not well known. However, the above-mentioned checking account has started becoming popular especially in the recent times. You will note that Axos Bank Rewards Checking account is actually an online account that comes with no extra fees. It is imperative to note that this account allows members to earn extra cash back whenever they use their debit card. Besides this, you will earn interest on your balance if your monthly direct deposits add up to $1000 or even more. Better still, if you use your debit card at least 10 times in a month, you can be sure that you earn some cash back in the long run.
2. TIAA Bank Checking
Just like Axos Bank Reward checking account, TIAA Bank Checking is also less known out there. However, this account is a great competitor of Chase Total Checking account. To start with, you will realize that TIAA Bank Checking is actually an online account. However, it different from other online account in that it offers a rate of 15x the rate that other banks offer.
Although this might sound good to members, you must deposit a minimum of $5000 for you to enjoy the above-mentioned advantage. However, there is a basic checking option where you can still deposit a minimum of $25. If you settle for this option, you must have a minimum daily balance of $25 so as to avert the costly $5 monthly fee. Generally, if you are looking for growth, you should try and start out with at least $5000 so as to earn more.
3. Capital One 360 Checking
When it comes to popularity, both Capital One 360 Checking account and Chase checking accounts are almost the same. Both are accounts from major banks in the U.S. With the Capital One 360 Checking account, you will not deal with any monthly fees. This makes this account better than the Chase Checking account. Besides this, your balance will earn a decent interest rate over time. This has made this checking bank account to be a top choice for many people out there.
4. Ally Bank Interest Checking Account
To start with Ally Bank is a popular online bank and is popular among those seeking strong rates and great customer service. Like the above-mentioned checking account’s name suggest, this is actually an interest-bearing checking account that comes with low fees and allows you to access over 43000 ATM free of charge nationwide.
When it comes to maintenance fees, this account does not charge any monthly fees. Besides this, Ally bank will reimburse you up to $10 per statement cycle for any extra fees charged when using an out-of-network ATM in the US. Generally, this is a good checking account if you are looking for a checking account that will allow you to earn more interest while keeping the maintenance fee at the bare minimum.
5. U.S Bank Free Checking Account
To start with, U.S Bank offers free student checking accounts to all eligible students in the U.S. This account comes with no monthly maintenance fees or minimum balances. Besides this, this bank checking account normally requires fairly low minimum opening deposits of $25. This makes it lucrative for those students who are still trying to manage their finances and save more. Here, all the ATM transactions are normally made through the U.S Bank ATM and are normally free of charge.
However, if you deposit your money here, it will not accrue any interest. Besides this, the account comes with a few fees such as bank statement fees, returned deposits, cashed checks, and overdraft protection fees, and so on. Generally, this checking bank account can be likened to the Chase checking account in terms of other fees charged apart from the maintenance fees. When it comes to maintenance fees, you will save a lot if you have opened a U.S free checking account.
Frequently Asked Questions (FAQ)
As we speak, you can now get a monthly fee waived if you have more than $500 in direct deposits each month in your Chase checking account. Better still, you should maintain $5000 or more in deposits or investments across several Chase accounts.
Yes. Just like any other bank account out there, Chase checking account normally has its own set of fees. From monthly fee which stands at $12 to other fees such as $2.50 for each use of a non-chase ATM in the U.S, there are several kinds of fees charged when using this account. The good news is that some of these feels can be waived subject to meeting some requirements.
The monthly maintenance fee for Chase is normally $12.
If you are seeking comfort, convenience, and reputation that come with banking with a reputable bank, Chase checking account is the best alternative for you. Besides this, you will have the luxury to open a number of checking accounts depending on your needs. These include personal and business checking accounts. It all depends on what suits your needs. Finally, you will enjoy the convenience of costly maintenance fees being waived for you in case you meet some of the above-mentioned requirements. Open a Chase checking account today and you will enjoy the results.