Monthly Service Fee Waiver Conditions

What it is

The document establishes that monthly service fees (ranging from $4.95 to $35 depending on account type) are waived if the account holder meets one of several qualifying conditions each statement period, including minimum qualifying electronic deposit thresholds, minimum daily balance requirements, linked qualifying account relationships, or eligibility criteria such as age or military status. Each account type has distinct waiver thresholds and qualifying criteria.

Why it matters (compliance & governance perspective)

The waiver conditions for monthly service fees establish the specific operational requirements account holders must meet each statement period to avoid recurring charges, with thresholds varying significantly by account tier from $250 in qualifying electronic deposits for Chase Secure Checking to $150,000 average daily balance for Chase Private Client Checking.

Clause Stability Stable

Consumer impact (what this means for users)

Under these terms, monthly service fees apply unless the account holder satisfies at least one qualifying condition each statement period, with conditions specific to each account type. The terms also state that new and converted accounts will not be charged a monthly service fee for at least the first two statement periods, after which the fee structure applies.

Institutional analysis (regulatory & governance intelligence)

1. REGULATORY LANDSCAPE: Monthly service fee disclosures for deposit accounts are governed by Regulation DD (Truth in Savings Act), which requires clear disclosure of fees and conditions for fee waivers at account opening and upon request. The CFPB enforces Regulation DD for large depository institutions. Fee structures that are conditional on maintaining certain balances or transaction thresholds must be accurately disclosed in account opening materials. 2. GOVERNANCE EXPOSURE: Low. Conditional monthly service fee structures are standard in retail banking and the document provides specific, enumerated waiver conditions for each account type. The document discloses that new accounts receive at least two statement periods without the fee, which is a material operational detail for customers evaluating account eligibility. 3. JURISDICTION FLAGS: No jurisdiction-specific fee waiver variations are identified in this document beyond the ATM limit distinctions for accounts opened in CT, NJ, and NY. State consumer protection laws in some jurisdictions may impose additional disclosure requirements for fee structures or waiver conditions. 4. CONTRACT AND VENDOR IMPLICATIONS: For institutional or business accounts linked to personal accounts to satisfy waiver conditions, the document specifies that the linked personal account owner must be a direct owner and signer on the business account. This ownership requirement creates a due diligence consideration for business account onboarding and ongoing eligibility monitoring. 5. COMPLIANCE CONSIDERATIONS: Compliance teams should verify that account opening disclosures, digital onboarding flows, and periodic account statements accurately communicate the specific waiver thresholds applicable to each account type and that any changes to waiver conditions satisfy Regulation DD advance notice requirements for adverse changes.

Applicable agencies

Provision details

Other risks in this policy

• Overdraft Fee Structure and Chase Overdraft Assist medium
• Foreign Exchange Rate Discretion on Wire Transfers medium
• Variable Interest Rate Change Without Notice low
• CD Early Withdrawal Penalties medium
• Chase Debit Card Coverage Opt-In medium
• Wire Transfer Funds Transfer System Discretion low