What is the 12$ monthly service fee?

Decoding the $12 Monthly Service Fee on Chase Total Checking

Chase Total Checking is a popular choice for managing finances, but it comes with a $12 monthly service fee. This fee, while seemingly small, can add up over time. Understanding how it works and, more importantly, how to avoid it, is key to maximizing the value of this account.

This $12 charge isn’t arbitrary. It’s the bank’s way of covering the costs associated with providing services like account maintenance, online banking, and access to their branch network. However, Chase understands that customers prefer to avoid fees whenever possible, and that’s why they offer several straightforward ways to waive this monthly charge.

The primary methods for waiving the $12 fee revolve around maintaining certain activity levels within your account. These typically fall into two categories:

• Direct Deposits: One of the easiest ways to avoid the fee is to set up regular direct deposits into your Total Checking account. This could be your paycheck, government benefits, or other recurring electronic payments. Chase typically requires a single direct deposit of at least a specific amount each statement period to qualify for the waiver. It’s important to check the current terms and conditions for the specific amount required.

• Minimum Daily Balance: If direct deposit isn’t an option, maintaining a minimum daily balance also waives the monthly fee. This means ensuring your account balance stays above a specified amount every day of the month. Again, the required minimum balance is subject to change, so it’s advisable to confirm the current requirements with Chase directly or on their website.

Essentially, Chase rewards customers who actively use their Total Checking account for their primary financial activities. By consistently routing funds through the account, either via direct deposit or by maintaining a healthy balance, you can enjoy all the benefits of Chase Total Checking without incurring the monthly service fee.

Beyond these primary methods, there might be other less common ways to waive the fee, such as linking a qualifying Chase savings account or holding a certain type of Chase mortgage. Consulting a Chase banking representative or reviewing the account details online will provide the most accurate and up-to-date information on all available waiver options.

In conclusion, while the $12 monthly service fee is a standard feature of the Chase Total Checking account, it’s not unavoidable. By understanding the requirements and choosing the waiver method that best suits your financial habits, you can enjoy a fee-free banking experience.