How to Fight Chase Bank Savings Account Fees In 4 Steps

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How to Fight and Waive Chase Bank Savings Account Fees

An average American pays at least $98 annually for bank savings account charges. The monthly figure may appear insignificant. However, when it accumulates, the amount is much higher. Most banks have hidden fees that are non-negotiable and almost automatic upon using the bank's service.

For example, Chase bank has many fees on the savings account unless you reach the account's minimum amount. In addition, trying to fight the fees by yourself may be difficult. DoNotPay helps you identify, fight, and waive .

What Is a Savings Account Fee?

A savings account is a deposit account held by a financial institution like a bank that accrues interest. The interest rate varies per bank. A savings account is considered safe and reliable for short-term needs or for emergencies. The fee is charged by the bank to maintain your account.

There is generally no limit on the amount you can withdraw with a savings account. However, the interest earned on the account is taxable. Chase bank requires one to have a minimum balance to avoid paying the monthly maintenance fee, while other banks don't require a minimum balance.

What Are the Common Chase Bank Fees?

Below are some of the general bank charges at Chase bank.

  1. Overdraft Fees - You will be charged $34 as the overdraft fee by the bank if you spend more money than you have in your checking account.
  2. Overdraft Protection Fees - The bank can protect you from having an overdraft through early updates. Unfortunately, the service incurs a cost of $34.
  3. Cashier Checks Fees - If your check has been guaranteed by the bank and signed by a cashier, you will incur a fee. The amount payable depends on the type of your account. For example, you'll be charged $8 on a total checking account or student checking account.
  4. Lost Card Fees - You will be charged $5 for replacing a lost debit card. However, you can pay up to $30 for rush service. A regular card replacement can take a week, whereas a rush replacement can be processed overnight.
  5. Inactivity Fees - Chase bank will charge you $5 for an account that has been inactive for at least six months.
  6. Account Closing Fee - If your Chase Bank account has been dormant for at least one year, your account will be closed. You'll also be charged $20 on your account payable upon reopening of the account.

What Are Chase Bank Savings Account Fees?

Chase Bank charges a monthly fee for earning interest through the savings account. Some of the standard fees associated with Chase Bank Savings account include:

Monthly Maintenance FeeChase bank charges you a monthly fee of $5.00 for having a savings account with the institution.
Statement FeeA statement fee is a charge incurred when requesting a paper copy of your current account to view the amount spent or accumulated. The bank charges $6 for the statement.
Stop PaymentStop payment is an official request made to a bank to cancel an unprocessed payment. Chase Bank will charge you $30 to stop the transaction
Online or Automated Phone Stop PaymentYou can cancel a transaction by paying $25 to Chase Bank using the automated phone system or their online platform to halt a payment.
Cashed Check Return or Deposited Item ReturnedChase bank will impose a $12 penalty if you write a check to someone while you have insufficient funds in your account to cover the amount on the check.
Domestic and International IncomingReceiving funds from another account to your Chase Bank Savings account will incur a $15 fee.
Domestic WireYou will get charged $35 to send money to another account via your Chase Bank savings account.

How Do I Get the Maintenance Fee on My Checking Savings Account Waived?

Although Chase Bank charges a monthly maintenance fee of $5, the bank can waive the fee if you meet one of the following conditions:

  • You are under 18,
  • Link your savings to a Chase Premier Platinum Checking, Chase Private Client Checking account, or a Chase Premier Plus Checking,
  • Maintain a minimum of $300 daily balance,
  • Set up at least one repeat automatic transfer of $25 from a checking account.

How to Get Your Chase Savings Account Fees Waived Using DoNotPay

It's challenging to waive on your own because of the many procedures and steps needed. Luckily, DoNotPay can help you waive the fees swiftly and conveniently using the four steps below.

  1. Open the DoNotPay Fight Bank Fees product.

  2. Enter the name of your bank.

  3. Verify the last 4 digits of your bank account.

  4. Choose which fees you want to waive, including overdraft, ATM, and transaction fees.

What Else Can DoNotPay Do?

DoNotPay not only helps you waive Chase Bank savings account fees but also provides other financial services like

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