Strategies to Bypass Chase’s Monthly Service Charges
JPMorgan Chase is one of the largest banks in the U.S., offering a variety of banking products to its customers. Besides their credit and debit cards, Chase also charges fees for their checking and savings accounts, which help cover operational costs.
The good news is that many of these fees can be avoided by maintaining a qualifying account balance, setting up direct deposits, or qualifying for fee waivers. Here’s what you need to know about Chase’s monthly maintenance fees and how you can avoid them.
### Chase Checking Account Fees
Chase checking account fees range from $4.95 to $25 for standard accounts and $25 to $35 for premium accounts. They also offer three checking accounts for kids and students with low fees ranging from $0 to $12. Some accounts even earn interest. Here’s a quick overview:
– **Chase Secure Banking:** $4.95 or $0, no interest
– **Chase Total Checking:** $12 or $0, no interest
– **Chase Premier Plus Checking:** $25 or $0, earns interest
– **Chase Sapphire Banking:** $25 or $0, earns interest
– **Chase High School Checking:** $0, no interest
– **Chase College Checking:** $12 or $0, no interest
– **Chase First Banking:** $0, no interest
### Business Checking Accounts
Chase offers three business checking accounts, each with options to waive the monthly fee:
– **Chase Business Complete Checking:** $15 or $0
– **Chase Performance Business Checking:** $30 or $0
– **Chase Platinum Business Checking:** $95 or $0
### Other Fees
Chase checking accounts often come with additional fees, such as using out-of-network ATMs. Here are some common fees:
– **ATM Fee:** $3 for non-Chase ATMs in the U.S., Puerto Rico, and the Virgin Islands; $5 for withdrawals or $3 for transfers and inquiries at non-Chase ATMs outside the U.S.
– **Cashier’s Check Fee:** $10
– **Money Order Fee:** $5
– **Overdraft Fee:** $34
– **Currency Exchange Fee:** 3% of the transaction
– **International Wire in Foreign Currency:** $5 if the transfer is below $5,000, $0 if $5,000 or more
– **Wire Transfer Fees:** $0 to $50, depending on various factors
– **International Wire Transfer Fee:** $40
– **Debit Card Foreign Transaction Fee:** 3% of the transaction
### Chase Savings Account Fees
Chase savings accounts also have monthly fees, which can be waived by maintaining a minimum balance, making automatic transfers, or linking to another Chase account. Here’s a breakdown:
– **Chase Savings:** $5 or $0 monthly fee, $5 for withdrawals exceeding six per month
– **Chase Premier Savings:** $25 or $0 monthly fee, $5 for withdrawals exceeding six per month (minimum balance to avoid fee is $15,000)
Both savings account options earn interest.
### How To Avoid Chase’s Monthly Maintenance Fees
To avoid these fees, you need to meet certain requirements:
– **Chase Total Checking:** Maintain a $1,500 beginning day balance or a $5,000 average daily balance across all accounts.
– **Chase Premier Plus Checking:** Maintain a $15,000 average beginning day balance across all accounts.
– **Chase Sapphire Checking:** Maintain a $75,000 average beginning day balance across all accounts.
– **Chase College Checking:** Maintain an average ending day balance of $1,500.
– **Chase Business Complete Checking:** Maintain a minimum daily balance of $2,000.
– **Chase Performance Business Checking:** Maintain a $35,000 average beginning day balance across all linked business accounts.
– **Chase Platinum Business Checking:** Maintain a $100,000 average beginning day balance across all linked business accounts.
– **Chase Savings:** Maintain a beginning day balance of $300.
– **Chase Premier Savings:** Maintain a beginning day balance of $15,000.
If you’re ever charged a fee and believe it was a mistake, contact customer service for assistance, and they should be able to help you remove it within a few business days.