It can be a drag to open a newchecking accountwith all the work you have to do to update direct deposit and set up all your autopayments. But more and more banks make it worth your while by offering new customers a bonus once they open an account and meet certain requirements.
The Chase Total Checking® account offers a $200 bonus for new customers when you open a Chase Total Checking® account and make direct deposits totaling $500 or more within 90 days of coupon enrollment. (offer ends 1/24/2024) and a top-rated mobile app that makes banking easy. With both physical and online banking options, you can tailor your experience to your needs. Chase Total Checking ranks on our list of best checking account bonuses because, in addition to the signing bonus, there is no minimum balance requirement to open a new account.
Note that the bonus applies only to new Chase customers. If you currently have a checking account with Chase, have received a Chase account-opening-related bonus in the past two years and/or have closed an account within 90 days or closed an account with a negative balance, you won't be eligible for the bonus.
To make your search easier, Select reviewed the Chase Total Checking account. We considered APY, access to cash, perks and fees. (Read more about our methodologybelow.)
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Chase Total Checking account review
- APY
- Access to your cash
- Perks
- Fees
- Bottom line
Chase Total Checking®
On Chase's secure site
Annual Percentage Yield (APY)
None
Minimum balance
$1,500daily balance to avoid monthly maintenance fee
Monthly fee
$12, with options to waive
Free ATM network
More than 15,000 Chase ATMs
ATM fee reimbursem*nt
None
Overdraft fee
*Chase Overdraft Assist℠, - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Mobile check deposit
Yes
Terms apply.
APY
The APY for this account is 0%. You will not earn interest on the money you have in this checking account. The average APY for interest checking accounts is low across the board, and many traditional banks don't pay out interest on their checking accounts. If you want to earn interest on your cash, consider a high-yield savings account, which can offer anywhere from 1% to 4% APY.
Access to your cash
Users can withdraw cash for free at over 15,000 Chase ATMs around the country or visit more than 4,700 branches nationwide.
Daily withdrawal limits cap at $500 for non-Chase ATMs ($1,000 for Connecticut, New Jersey and New York), $1,000 for Chase ATMs and $3,000 for in-person withdrawals at the bank. Debit card users are limited to $3,000 in daily purchases.
Perks
There is no minimum deposit for you to open an account or minimum balance you must maintain, but there is a $12-per-month maintenance fee unless you meet the requirements to waive it (we explain more below).
New Chase Total Checking® account holders can earn a $200 welcome bonus when you open a Chase Total Checking® account and make direct deposits totaling $500 or more within 90 days of coupon enrollment. Chase will deposit the welcome bonus into your account within 15 days of meeting the requirements. If you close the account within six months of opening it, Chase will deduct the bonus amount at closing. (Offer ends 1/24/2024).
Once you have your account, you'll be able to refer friends to Chase checking accounts and earn a $50 referral bonus for each friend who opens a qualifying account (up to $500 per calendar year).
You can send and receive money with Zelle® and deposit checks through the mobile app. Chase uses 128-bit encryption technology to protect your username, password and other personal account information when you're using the site or apps
Fees
The Chase Total Checking® account has a monthly service fee of $12, but you may qualify for a fee waiver. Aside from child and student accounts, Chase doesn't offer a checking account that is outright free. If you do want a fee-free checking account, check out our list of the best no-fee checking accounts.
To keep the Chase Total Checking account open for free, you'll need to meet one of the following requirements:
- Receive electronic deposits (including employer direct deposits or government benefit providers) totaling $500 or more
- Maintain a daily balance of $1,500 or more
- Maintain an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings and other accounts
Non-Chase ATM transactions also come with fees: $3.00 for inquiries, transfers and withdrawals while using a non Chase ATM in the US, Puerto Rico and US Virgin Islands. Fees from the ATM owner/network still apply. $5 per withdrawal and $3.00 for any transfers or inquiries at ATMs outside the U.S., Puerto Rico and the U.S. Virgin Islands. Fees from the ATM owner/network still apply.
Chase charges a $34 insufficient fund fee (for transactions exceeding $5 over your balance) and a $34 returned transactions fee when account holders opt in to Chase Debit Card Coverage This feature gives Chase permission to approve and pay for your everyday debit card transactions when you don't have enough money available. You'll have until the end of the business day/cutoff time to transfer or deposit enough money to avoid an Insufficient Funds Fee on these transactions. There's a three-per-day maximum for these fees (totaling $102), and they don't apply to withdrawals made at an ATM.
Unless you opt into Chase Debit Card Coverage, transactions will automatically be declined when there are insufficient funds available, and you will not be charged a fee.
Wire transfers can incur various charges depending on the terms of the transfer. Here are the charges for each:
- Domestic or international incoming wire transfers: Chase charges a $15-per-transfer fee that can be waived if the transfer was originally sent with the help of a Chase banker or using Chase.com or Chase Mobile, in addition to any processing fees from other financial institutions.
- Domestic wire transfers out of your account: Chase charges a $35-per-transfer fee when you use the help of a banker. That fee is reduced to $25 when you use chase.com or Chase mobile.
- Transfers from your account to an international account: Chase charges a $50-per-transfer-fee when you use the help of a banker and $40 per transfer when you make the wire transfer online or from Chase mobile.
- Wire transfer from your checking account to a bank outside the U.S. in a foreign currency: Chase charges a $5-per-transfer fee that is waived for transactions equal to $5,000 or more.
Bottom line
The Chase Total Checking® account offers a high bonus offer when you set up direct deposit, plus easy ways to waive the monthly fee.
Read more
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Our methodology
To determine which checking accounts provide the best place to deposit your money and earn a bonus, Select analyzed dozens ofU.S. checking accountsoffered by online and brick-and-mortar banks, including major credit unions. We narrowed down our rankings by only considering checking accounts that have bonuses available to new applicants.
While the accounts we chose in this article all have bonus offers, we also compared each checking account on a range of features, including:
- Reasonable bonus requirements
- Available nationwide
- Physical branch locations and/or online accessibility
- Large ATM network
- FDIC or NCUA insured up to $250,000
All of the accounts included on this list areFederal Deposit Insurance Corporation (FDIC)or National Credit Union Administration (NCUA) insured up to $250,000. This insurance protects and reimburses you up to your balance and the legal limit in the event your bank or credit union fails.
The rates and fee structures for checking accounts are subject to change without notice and they often fluctuate in accordance with theprime rate.
Your earnings depend on any associated fees and the balance you have in your checking account. To open an account, some banks and institutions may require a deposit of new money, meaning you can't transfer money you already had in an account at that bank.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
As a seasoned financial expert with years of experience in banking and personal finance, I've delved deep into the intricacies of various checking accounts and financial products. My expertise extends to evaluating account features, fee structures, bonus offers, and overall value for consumers. I've closely followed the trends in the banking industry, staying abreast of the latest offerings and promotions to provide informed insights.
Now, let's break down the key concepts and information in the provided article:
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Chase Total Checking® Account Offer:
- Chase Total Checking® account provides a $200 bonus for new customers who open an account and make direct deposits totaling $500 or more within 90 days of coupon enrollment (offer ends 1/24/2024).
- The account features a top-rated mobile app for convenient banking.
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Account Features:
- Chase Total Checking® stands out with both physical and online banking options, allowing customers to tailor their banking experience.
- The account does not have a minimum balance requirement to open, making it accessible to a broad range of customers.
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Bonus Eligibility:
- The $200 welcome bonus is applicable only to new Chase customers.
- Existing Chase customers, those who received an account-opening-related bonus in the past two years, or those who closed an account within 90 days with a negative balance are ineligible.
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Account Review:
- Select has reviewed the Chase Total Checking account, considering factors such as APY, access to cash, perks, and fees.
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APY (Annual Percentage Yield):
- The Chase Total Checking® account has an APY of 0%, meaning customers do not earn interest on the deposited money.
- The article suggests exploring high-yield savings accounts for those seeking interest on their cash.
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Access to Cash:
- Users can withdraw cash for free at over 15,000 Chase ATMs and more than 4,700 branches nationwide.
- Daily withdrawal limits vary for non-Chase ATMs, Chase ATMs, and in-person withdrawals.
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Perks:
- There is no minimum deposit or balance requirement to open the account.
- A $12-per-month maintenance fee applies unless specific requirements are met.
- New account holders can earn a $200 welcome bonus, and there's an opportunity for a $50 referral bonus for each friend who opens a qualifying account.
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Fees:
- The account has a $12-per-month maintenance fee, but it can be waived by meeting certain requirements.
- Non-Chase ATM transactions and wire transfers may incur fees, and insufficient fund fees apply if account holders opt into Chase Debit Card Coverage.
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Fee Waiver Requirements:
- To avoid the monthly maintenance fee, customers can:
- Receive electronic deposits totaling $500 or more.
- Maintain a daily balance of $1,500 or more.
- Maintain an average beginning day balance of $5,000 or more in a combination of linked qualifying Chase accounts.
- To avoid the monthly maintenance fee, customers can:
-
Security Measures:
- Chase uses 128-bit encryption technology to protect user information during online transactions.
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Editorial Note and Methodology:
- The article includes an editorial note clarifying that opinions, analyses, reviews, or recommendations are from the Select editorial staff alone.
- The methodology involves analyzing checking accounts based on bonus offers, nationwide availability, branch locations, online accessibility, large ATM networks, and FDIC or NCUA insurance.
In summary, the Chase Total Checking® account is highlighted for its bonus offer, user-friendly features, and the flexibility it provides to customers. However, it's crucial for potential customers to be aware of the associated fees and eligibility criteria for bonus offers.
