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Annual Percentage Yield (APY)
Minimum Deposit Amount
$12 monthly service fee
Chase Total Checking Pros and Cons
Chase Total Checking® charges a $12 monthly service fee, but you can waive it each month that you receive $500 in electronic deposits, start each day with a $1,500 balance, or maintain a $5,000 average daily balance in this account and all linked Chase accounts.
If you’re a new Chase customer, you’ll receive a $200 bonus when you open an account using a coupon code and set up direct deposit within 90 days of coupon enrollment (offer expires on 07/19/2023).
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Is Chase Total Checking Trustworthy?
Chase is a Member FDIC Bank, so your Chase Secure Banking account is FDIC-insured for up to $250,000, or $500,000 for joint accounts. This means that if Chase shuts down, your insured funds are still safe. Your money would be moved to another institution, or Chase would mail you a check.
Chase has been involved in a couple of recent controversies. In 2020, JP Morgan Chase & Co. paid the Department of Justice $920 million in a settlement that claimed the bank was involved in wrongful trading. In the same year, the US Department of Labor required Chase to pay $800,000 in back wages in a settlement that accused the bank of underpaying women.
The Better Business Bureau gives Chase an A+ rating. The BBB evaluates how companies interact with their customers, and a strong BBB grade indicates that a business responds effectively to customer complaints.
A good BBB score doesn’t guarantee you’ll have a perfect relationship with a bank, though. Speak with friends and family members who bank with Chase, or read online customer reviews to determine whether the bank is a good fit.
Chase Total Checking FAQs
There is no minimum balance required to open a Chase Total Checking account. But maintaining a minimum daily balance of $1,500 is one way to waive the $12 monthly service fee.
If you have a Chase Total Checking® account, there is a $12 monthly service fee. You’ll waive this fee every month that you start each day with a $1,500 balance, maintain a $5,000 average daily balance in this account and all linked Chase accounts, or receive $500 in electronic deposits.
No, Chase does not have a free checking account. The closest option is Chase Total Checking®. It does charge a $12 monthly service fee, but of all the Chase checking accounts, this account makes it easiest to waive the monthly fee.
Chase — and many banks — deny your checking account application if you have a poor banking history. Most banks use the credit reporting agency ChexSystems to view your history, and if you’ve had numerous overdrafts or unpaid fees, they may deny you a checking account. If Chase denied your application, try opening a second chance bank account at another institution.
Methodology: How We Reviewed Chase Total Checking
At Personal Finance Insider, we rate products using our bank account ratings methodology. Each account receives a rating between zero and five.
We look at customer service, ethics, and the bank’s mobile app when we rate all types of accounts. For checking accounts specifically, we also evaluate minimum opening deposits, monthly fees, overdraft fees/protection, and ATM networks/fees.
How Chase Total Checking Compares
Chase Total Checking vs. Chase Secure Banking
Chase Total Checking is the bank’s most basic checking account, and Chase Secure Banking℠ is one tier above it. Chase Secure Banking has a $4.95 monthly service fee that cannot be waived. If you aren’t eligible to waive the Total Checking fee, you may prefer Chase Secure since the fee is lower. But if you can avoid the fee, Total Checking could be the more affordable choice.
Chase Secure Banking doesn’t charge overdraft fees, but it also doesn’t offer overdraft protection like Total Checking does. If a transaction would overdraw your account, Secure Banking will simply deny it.
Chase Total Checking offers a $200 bonus, while Secure Banking has no sign-up bonus. However, Secure Banking is the only Chase checking account that has early direct deposit, so it’s a good choice if you want to receive paychecks up to two days early.
Chase Total Checking vs. Chase Premier Plus Checking
Unlike Chase Total Checking, Chase Premier Plus Checking℠ doesn’t offer a sign-up bonus. It also has a higher $25 monthly service fee, so if you don’t qualify to waive it, the account can get expensive. You’ll avoid the charge each month if you are a current or former military member, or have a combined average daily balance of $15,000 in this account and any linked Chase checking and savings accounts. You could also link a qualifying Chase mortgage to the account and set up automatic payments to waive the fee.
Chase Premier Plus Checking does have some perks you won’t get with Total Checking, though, such as four waived out-of-network ATM fees each month. When you have this account, you’re also eligible to waive monthly fees on two other Chase checking accounts and a savings account.