Find out how much you might end up paying in fees across Chase’s checking accounts.
When ranked by assets, JPMorgan Chase is the largest bank in America. If you prefer smaller online banks over traditional options, its sheer size may discourage you from opening up an account. You may worry about high Chase checking account fees and other practices that are common among large banks. Is it really as bad as it at first appears?
Chase Checking Account Fees
The fees associated with a Chase checking account depends on what type of checking account you choose to open. Accounts for minors and students generally have no fees or they are easily waived. The bank also offers several options for adults:
Chase Secure Banking
This account has a standard fee of $4.95 each month with no way to waive it. It has no overdraft protection, but it also has no overdraft fees. Chase declines transactions when the account balance is low. If some transactions make it past the system, the account holder may still end up with a negative balance. Bill paying and online banking features are free.
Chase Total Checking
The monthly maintenance fee can be as high as $12 or as low as $0. These are the three main ways to waive these Chase checking account fees:
- Beginning each day with a balance of $1,500 or more for this account
- Maintaining an average daily balance of $5,000 across qualifying Chase accounts
- Making total qualifying deposits of $500 or more each month
Chase does not charge in-network ATM fees for this account. However, it does charge fees for using out-of-network ATMs.
Chase Premier Plus Checking
If you want to earn interest on your checking account balance, you need to risk a higher account fee of $25. There are only two ways to reduce the maintenance fee to zero. The first is to link a qualifying Chase mortgage account. The second way to waive these Chase checking account fees is to maintain an average daily balance of $15,000 or more across qualifying accounts.
When these customers use out-of-network ATMs, Chase waives the fees for the first four such transactions each month. Thereafter, they pay the standard fee. Additionally, these customers may not need to pay fees on any other Chase checking account they have.
Chase Sapphire Banking
This account provides protection from almost every fee Chase charges. It even provides free worldwide access to ATMs. Fees are also waived for personal design checks and foreign exchange rates. How much interest you earn depends on your location.
However, Chase still charges a potential monthly maintenance fee of $25. The only way to avoid Chase checking account fees for this option is to have an average daily balance of $75,000 across qualifying accounts.
Chase Private Client Checking
This checking account features the same benefits as Sapphire accounts. However, there are some interesting additions:
- Dedicated private client banker
- Dedicated business banking advisor
- Discounted rates on auto loans and mortgages
- Special access to Chase Private Client Arts & Culture Program
The potential fees are the highest for this account at $35. To waive them, a client must have an average daily balance of $150,000 across qualifying accounts.
When To Consider Competitors
Chase’s checking accounts get top ratings among its big bank competitors. However, its checking account fees cause it to rank much lower among online banks, scoring a measly 3.5 stars on NerdWallet.
There are several online banks that make Chase checking account fees look especially unfavorable. Most have low to no minimum balance requirements. Some also pay a much higher interest rate on checking balances and do not charge for out-of-network ATM usage. Here are a few worth considering:
- Capital One 360 Checking
- Chime Checking
- Ally Checking
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