A guide to Chase checking accounts (2024)

With over 4,700 branches in the United States and a full range of online services, Chase is an easily accessible banking option for many Americans. If you’re considering a Chase checking account but aren’t sure whether the convenience and account features are worth it, this guide may help.

Introduction to Chase checking accounts

Chase offers several different types of checking accounts suited to individuals and businesses with various needs. These include:

• Standard checking accounts
• Premium checking accounts
• Second chance banking
• Checking accounts for kids
• Business checking accounts

Chase checking accounts

Chase Total Checking

Chase’s entry-level checking account, Total Checking, meets most basic banking needs at a relatively low cost. The account’s $12 monthly fee is waived with at least $500 in electronic deposits each statement period or a minimum daily balance of $1,500.

You’ll get access to banking features such as bill pay, mobile deposit and Chase Overpay Assist, which waives the overdraft fee if you overdraft the account by $50 or less at the end of the day.

However, additional services like paper checks and out-of-network ATM usage are not included and incur additional fees.

Chase Premier Plus Checking

Those looking for a more robust banking experience can opt for Chase Premier Plus Checking, an everyday account with a few extra services included.

This account has a monthly fee of $25 that can be waived by maintaining a combined balance of at least $15,000 across all linked Chase bank accounts or by having a Chase mortgage with automatic payments. Fees are waived automatically for current and former military members.

You’ll receive paper checks at no cost and can withdraw money from non-Chase ATMs up to four times per month before fees apply.

The account also earns 0.01% APY, which is a nominal amount of interest but better than nothing.

Chase Sapphire Banking

The first of Chase’s premium checking accounts, Chase Sapphire Banking, provides elevated services and reduced fees. There is a $25 monthly fee which is waived if you maintain a balance of at least $75,000 in Chase accounts. The account also earns 0.01% APY on all balances.

Account benefits include unlimited fee-free ATM usage worldwide, fee-free wire transfers and up to four overdraft fees waived per year. Expedited service is available via a dedicated 24/7 phone line.

Sapphire Banking customers also have access to a dedicated customer support line for quicker service.

Chase Private Client Checking

Chase reserves its most premium banking experience for Chase Private Client Checking customers. This account has a $35 monthly fee which will be waived if you maintain a minimum balance of $150,000 across all your Chase accounts or link this account to a Platinum Business Checking account.

Chase Private Checking has global ATM fee reimbursem*nt, no incoming or outgoing wire fees, free cashier’s checks and money orders, four overdraft fees waived per year and no fees for stop payments. You’ll also earn 0.01% APY for all balances in all states. Interest rates are variable and subject to change. Additionally, fees may reduce earnings on the account.

Additionally, Private Client Checking account holders are extended even more exclusive perks like a dedicated banker and lower interest rates on loans.

Chase Secure Banking

Chase Secure Banking is a second-chance bank account offered to applicants who can’t qualify for a standard checking account due to poor banking history. The account can’t be overdrawn and account holders are unable to write checks.

Chase Secure Banking is certified by BankOn and has a low monthly fee of $4.95 or $0; Avoid the monthly service fee when you have electronic deposits made into the account totaling $250 or more during each monthly statement period.

Chase checking accounts for kids and students

While the minimum age to open a standard Chase checking account is 18, kids as young as six can start saving money and learning good financial habits with the support of a parent. Several options are available based on the child’s age and education status.

Chase First Banking: Parents with an existing Chase checking account can open a free checking account for their child beginning at age six. The account includes a debit card and parental controls related to spending and savings.

Chase High School Checking: Minors between the ages of 13 and 17 can open a Chase checking account with a parent as a co-owner. There are no monthly fees until the child turns 19, at which time the account automatically converts into a Chase Total Checking account.

Chase College Checking: Young adults up to age 24 qualify for up to five years of free checking while actively enrolled in school.

Chase business checking accounts

Chase offers three different business checking accounts with tiered fees and benefits based on average account balances.

Chase Business Complete Banking: This account has a $15 fee that is waived if you maintain a minimum balance of $2,000, have $2,000 in deposits from eligible payment solutions, $2,000 in purchases on an Ink Business card or link an eligible checking account.

You’ll get unlimited debit card transactions and can deposit up to $5,000 in cash per statement for free.

Chase Performance Business Checking: This account has a $30 monthly fee that is waived by maintaining a $35,000 minimum balance in eligible linked accounts.

Per statement cycle, you’ll get 250 free transactions and can deposit $20,000 in cash for free. Electronic deposits are unlimited.

Chase Platinum Business Checking: This account has a $95 monthly fee that is waived if you maintain a minimum balance of $100,000 across eligible Chase accounts.

Per statement cycle, you’ll get 500 free transactions and can deposit up to $25,000 in cash for free. You’ll also have unlimited incoming wires and electronic deposits.

Pros and cons of Chase checking accounts

Requirements to open a Chase checking account

• Government-issued identification
• Proof of address
• Completed application
• Funds to make an initial deposit

Process to open a Chase checking account

1. Compare accounts and choose the one you’d like to open. Chase offers many different checking accounts suited to various needs.
2. Collect the required documents. You’ll need proof of identification and your current address. You may need additional information depending on the specific account, especially if it’s a business or minor account.
3. Fill out the application. It may take some time for Chase to process your application and open your account.
4. Make an opening deposit by transferring funds into your new checking account.
5. Receive and activate your new debit card.

Fees associated with Chase checking accounts

• Monthly service fees
• Non-Chase ATM fees
• Overdraft fees
• Wire transfer fees
• Stop payment fees
• Foreign exchange fees

Promotions and bonuses when opening a Chase checking account

Chase has several promotions going on at this time. You can get a $300 bonus for opening a Chase Total Checking account and receiving at least $500 in direct deposits within 90 of account opening.

If you open a new Secured Banking account by July 24th, 2024, you can earn a $100 bonus with qualifying transactions.

You can also receive a $100 bonus for opening a College Checking account and completing 10 qualifying transactions within 60 days of account opening.

If you are in the market for a business checking account, new Business Complete Checking customers can earn a $300 bonus by meeting qualifying activities.

The Chase Private Client Checking account has a bonus of up to $3,000 if you open a new account and complete the qualifying activities.

Lastly, if you are already a Chase customer, you can refer a friend for a $50 bonus. If your friend opens a new qualifying Chase checking account, you can earn $50 up to 10 times per year for a total of $500.

Chase checking accounts vs. other banks’ checking accounts

Chase offers a diverse range of checking accounts suited to many different needs, but it’s always a good idea to compare accounts at other banks before making a final decision. For example, while Chase is one of our top picks for premium checking, you may be able to find better high-yield checking rates at another institution.

Here’s a comparison of Chase’s main competitors, but be sure to also take a look at our list of the best checking accounts for more options.

Bank of America

Bank of America has several personal checking accounts. The Advantage Plus Banking is similar to Chase’s Total Checking and has a $12 monthly fee that can be waived by maintaining a balance of $1,500 or having direct deposit of at least $250 per month.

Bank of America’s Safe Balance checking is comparable to Chase’s Secure Banking and has a monthly fee of $4.95. Unlike with Chase, the fee on this account can be waived if you maintain a balance of at least $500 or if you are under the age of 25.

The Advantage Relationship Banking account is Bank of America’s premium account and has a $25 monthly fee. This can be waived by maintaining a $20,000 minimum balance or being a member of the Preferred Rewards program.

The bank also has checking accounts specifically for young adults and students as well as small business owners.

Wells Fargo

Wells Fargo offers several checking accounts that are similar to Chase’s. The Everday Checking is comparable to the Chase Total Checking and has a $10 fee that can be waived by maintaining a balance of $500 or having direct deposit of at least $500 per month.

Wells Fargo’s Clear Access checking is similar to Chase’s Secure Banking account, but the $5 monthly fee can be waived if the account owner is under 24 years of age.

Wells Fargo also has premium accounts and small business checking accounts.

Citi

Citi has its Regular Checking account and Access Checking account. The Regular Checking is equivalent to Chase’s Total Checking. There is a $15 monthly fee, which can be waived with direct deposit of at least $250 per month.

The Access checking is similar to Chase’s Secure Banking and comes with a $5 monthly fee that can be waived with $250 per month in direct deposit.

Citi also has small business checking accounts but doesn’t offer a checking account specifically for students.