Introduction to Chase Business Checking
Chase Bank business checking accounts could be worthwhile if you're a small business owner who wants to open an account with one of the best national banks. Chase Business Complete Checking, in particular, is a solid option if you're a new customer who qualifies for a cash bonus. Other financial institutions will probably be more suitable if you prefer opening a free business checking account, though.
Chase has three primary business checking accounts. While the accounts have similar minimum opening deposit requirements, they have different monthly service fees and limitations.
Chase Business Checking Account Overview
Below, is an overview of the fee structure and features of Chase's business checking accounts.
| Chase Business Complete Checking | Chase Performance Business Checking | Chase Platinum Business Checking | |
| Minimum opening deposit | $0 | $0 | $0 |
| Interest earned | None | None; there is also an interest-earning version that pays 0.01% APY | None |
| Monthly service fee | $15 monthly service fee; can be waived | $30 monthly service fee; can be waived | $95 monthly service fee; can be waived |
| Free monthly transaction limit (paper/bank teller transactions) | 20 | 250 | 500 |
| Free cash deposits per month | $5,000 | $20,000 | $25,000 |
| Fee for transactions that surpass the free monthly limit | $0.40 | $0.40 | $0.40 |
| Cash bonus | up to $500 | ||
| Start Banking | Start Banking | Start Banking |
Chase Business Complete Checking
$15 monthly service fee
None
$0
up to $500
- No minimum opening deposit
- Unlimited monthly debit card transactions
- 20 free transactions made with checks or a bank teller each month
- Possible to waive the monthly service fee
- Large free ATM network
- $15 monthly service fee
- After the 20-transaction limit, you'll pay $0.40 per transaction with a bank teller and for checks
Chase Bank business checking accounts could be worthwhile if you're a small business owner who wants to open an account with one of the best national banks. Chase Business Complete Checking, in particular, is a solid option if you're a new customer who qualifies for a cash bonus.
- Around 4,700 branches in 48 US states and Washington, DC
- Access to 16,000 free ATMs
- Deposit $5,000 in cash for free per statement cycle
- Earn $300 when you open a new Chase Business Complete Checking account. For new Chase business checking customers with qualifying activities.
- Multiple ways to waive the $15 Monthly Service Fee, including maintaining a minimum daily balance or purchases on your Chase Ink Business credit card.
- Helping you save money. Multiple ways to waive $15 service fee and unlimited digital transactions helps you keep more of your money.
- Member FDIC
Chase Business Complete Checking is one of the best business checking accounts, and it's geared toward small businesses. You might like this business checking account if you're eligible to waive the $15 monthly service fee.
The monthly service fee can be waived if you meet one of the following requirements: maintain a $2,000 daily balance, make $2,000 in net purchases with a Chase Ink Business Card, receive $2,000 in deposits from Chase QuickAccept or other eligible Chase payment solution transactions, link to a Chase Private Client account, or provide proof of military status.
If you can't meet the requirements to waive the monthly service fee, other financial institutions will likely be more appealing.
Chase Performance Business Checking
$30 monthly service fee
None
$0
- 250 free transactions per month
- Up to $20,000 in free cash deposits per month
- No incoming wire transfer fee
- No out-of-network ATM fees by Chase
- No fee for counter checks
- No fee for money orders
- No fee for cashier’s checks
- 2 most expensive outgoing domestic wire transfers per month are free
- Possible to waive monthly service fee
- Overdraft protection options available
- $30 monthly service fee
- $34 overdraft fee
- $25 to $35 outgoing domestic wire transfer fee
- International wire transfer fees depends on the amount and how it is sent (online or at a branch)
- $0.40 fee for each excess transaction per month
Chase Bank business checking accounts could be worthwhile if you're a small business owner who wants to open an account with one of the best national banks.
- There’s an interest-bearing option available
- To waive a $30 monthly service fee, have an average beginning day balance of $35,000 or more across qualifying Chase business bank accounts
- 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
- Member FDIC
Chase Performance Business Checking is best for mid-sized businesses.
Chase Performance Business Checking might be a better choice than Business Complete Checking if you are looking for higher limits for cash deposits or non-electronic deposits. Chase Performance Business Checking lets you deposit $20,000 in cash per month at no cost. You may also make up to 250 free non-electronic deposits per month. A $0.40 transaction fee still applies to each transaction that surpasses the free limit.
Chase Platinum Business Checking
$95 monthly service fee
None
$0
- 500 free transactions per month
- Up to $25,000 in free cash deposits per month
- No incoming wire transfer fees
- 4 most expensive outgoing wire transfers per month are free
- 1 overdraft fee waived per statement period
- No out-of-network ATM fees by Chase
- No fee for counter checks
- No fee for money orders
- No fee for cashier’s checks
- Possible to waive the monthly service fee
- Overdraft protection options available
- $25 to $35 outgoing domestic wire transfer fee
- $34 overdraft fee
- $0.40 for each excess transaction per month
- International wire transfer fees depend on the amount and how it is sent (online or at a branch)
Chase Bank business checking accounts could be worthwhile if you're a small business owner who wants to open an account with one of the best national banks.
- To waive the $95 monthly service fee, keep an average beginning day balance of $100,000 of more across qualifying Chase bank accounts or investment accounts ($50,000 when linked to Chase Private Client Checking, JPMorgan Classic Checking, or Private Client Checking Plus)
- No outgoing wire transfer fees when linked to Chase Private Client Checking, JPMortgan Classic Checking, or Private Client Checking Plus
- 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
- Member FDIC
Chase Platinum Business Checking is the strongest business checking option at Chase if your business has a high transaction volume. Chase Platinum Business Checking permits 500 free non-electronic deposits per month. You can also notably deposit $25,000 in cash per month at no cost.
However, you will likely lean more toward Chase Business Complete Checking if you do not regularly maintain high daily balances on business bank accounts.
Chase Business Checking Key Features and Benefits
National Branch and ATM Presence
Chase is one of the best banks for a traditional banking experience. It has over 4,700 branches and 16,000 free ATMs throughout the United States. The brick-and-mortar bank has locations in all lower 48 states, making it one of the most convenient options among banks for finding nearby branches.
Low Minimum Opening Deposit
Chase business checking accounts have a $0 minimum opening deposit. Typically, business checking accounts at traditional banks require a minimum opening deposit, so Chase may be worthwhile if you don't have much money to deposit initially.
Free Monthly Transactions for Non-Electronic Deposits
Chase business checking accounts have free monthly transaction limits for non-electronic deposits. If you surpass your account's free monthly limit, you'll have to pay a fee for each additional transaction.
If you need a business checking account that permits more than 500 free non-electronic deposits per month, an online business checking account may be more suitable for you. The best online banks have business checking accounts that permit unlimited monthly transactions.
Free Cash Deposits
You also might like Chase if you want to deposit cash into your business checking account. Chase lets you deposit a certain amount of cash into a business checking account for free. In comparison, online business checking accounts usually don't accept cash deposits or charge a fee for each deposit.
Cash Bonus
There is a Chase Bank promotion for one business checking account. Chase Business Complete Checking offers a up to $500 bonus to new Chase small business checking account customers. You may qualify for the bonus if you deposit $2,000 or more in new money within the first 30 days of opening an account, maintain your new balance in the account for 60 days after enrolling, and make five qualifying transactions within 90 days after enrolling.
Chase Business Checking Fees and Charges
Monthly Service Fees
Chase doesn't have any free business checking accounts. That said, you can waive monthly services if you meet certain monthly requirements.
Chase Business Complete Checking has a $15 monthly service fee. The monthly service fee can be waived if you meet one of the following requirements: maintain a $2,000 daily balance, make $2,000 in net purchases with a Chase Ink Business Card, receive $2,000 in deposits from Chase QuickAccept or other eligible Chase payment solution transactions, link to a Chase Private Client account, or provide proof of military status.
Chase Performance Business Checking has a $30 monthly service fee that can only be waived if you maintain a combined average daily balance of $35,000 across qualifying business bank accounts.
Chase Platinum Business Checking has a significant $95 monthly service fee that can be waived if you maintain a combined average daily balance of at least $100,000 across qualifying business bank accounts and business investment balances or maintain a combined average daily balance of $50,000 and link a Chase Private Client account or other eligible account.
Overdraft Fees
Chase charges a $34 overdraft fee, up to six times daily, for transactions that overdraw your business checking balance by more than $50.
One overdraft fee will be waived per statement period if you have Chase Platinum Business Checking.
There are also overdraft protection options available. For example, Chase Overdraft Assist allows you to avoid overdraft fees by restoring your checking balance so it is overdrawn by $50 or less by the end of the next business day (11 p.m. ET/8 p.m. PT).
Keep in mind the best banks for avoiding overdrafts have eliminated overdraft fees or reduced fees to under $5.
How to Open a Chase Business Checking Account
You can open a Chase business bank account online if your business is a sole proprietorship, corporation, or limited liability company managed by a single person. If you have another type of business, you must apply for a business bank account at a branch.
To open any checking account, you must provide two forms of ID — for example, a driver's license and passport.
You must include a Social Security number, ITIN number, or an employer identification number (EIN) in your business checking account application.
The application will ask you basic information about your business, like the address, annual sales, and number of employees. Business checking accounts also require specific documentation. The forms you'll need to provide depend on your business type. A trade certificate may also be required (except if you have a business in Hawaii, Kansas, Mississippi, New Mexico, Wisconsin, or Wyoming).
Chase Business Checking Customer Support and Feedback
Chase has an FAQ section on its website that answers common questions about business banking products and services. You can also contact Chase Business Customer Service by phone, through online banking, X (formerly Twitter), or at the branch.
Customer support hours may vary depending on where you live. Branches are usually open weekdays from 9 a.m. to 5 p.m. in your respective timezone and Saturday mornings.
Chase ranks highly in customer satisfaction. According to the J.D. Power 2023 National Banking Satisfaction Study, the bank ranked section in overall customer satisfaction among national banks.
Compare Chase Business Checking
Chase Business Checking vs. Wells Fargo Business Checking
Choosing between Chase and Wells Fargo business checking accounts may ultimately depend on which account features appeal to you most.
For example, Chase lets you open a business checking account with $0; Wells Fargo business checking accounts require at least $25.
Chase also permits more free monthly transactions on its highest-tier business checking account. The Chase Platinum Business Checking doesn't charge a transaction fee for the first 500 transactions. In comparison, Wells Fargo Optimize Business Checking only allows for 250 free transactions per month.
Wells Fargo's three business checking accounts have slightly lower monthly service fees and offer more lenient requirements to waive monthly fees than Chase. If you're looking to avoid monthly service fees entirely, you might prefer a free business checking account, though.
Chase Business Checking vs. U.S. Bank Business Checking
You'll prefer U.S. Bank over Chase if you are searching for a free business checking account. The U.S. Bank Silver Business Checking Package is the bank's optimal checking option for new and small businesses. It has no monthly service fee. Chase checking accounts all have monthly service fees, and you'll need to meet certain requirements to waive them.
Chase business checking accounts have lower minimum opening deposit requirements than U.S. Bank business checking accounts. If you want to open a checking account with no minimum opening deposit, Chase will be a better choice.
Chase Business Checking FAQs
Chase business checking accounts have different monthly bank maintenance fees, free monthly transaction limits, and free cash deposit limits. The Chase Complete Business Checking account also offers a cash bonus, and Chase Performance Business Checking has an interest-earning version.
To waive the monthly service fee on Chase Business Complete Checking, maintain a $2,000 daily balance, make $2,000 in net purchases with a Chase Ink Business Card, receive $2,000 in deposits from Chase QuickAccept or other eligible Chase payment solution transactions, link to a Chase Private Client account, or provide proof of military status. To waive the monthly fee of Chase Performance Business Checking or Chase Platinum Business Checking, you'll need to maintain a certain average beginning day balance.
Yes, Chase offers a variety of business banking products, including merchant services, business credit cards, and business loans. Chase is also partnered with several business software providers, like Touch Bistro, Fusebill, and Fiskl.
Yes, Chase business checking accounts have free monthly cash deposit limits. You may be charged a fee for depositing cash if you exceed that amount. You'll have to request a Business Deposit Express Fee Schedule from Chase to learn about additional fees for your specific Chase checking account.
Chase may be a good option for a business account if you prioritize banking with a brick-and-mortar financial institution that has a large branch and ATM network. You also might like Chase over its competitors if you're interested in some of the bank's other business products. For example, Chase offers one of the best small business credit cards.
Why You Should Trust Us: How We Reviewed Chase Business Complete Checking
At Personal Finance Insider, we use a scale from one to five stars to rate bank products. We used our bank account methodology for business checking accounts to review Chase Business Complete Checking. We analyzed minimum opening deposit requirements, monthly fees, transaction limits, ATM network/fees, customer support availability, mobile app ratings, miscellaneous features, and Chase's ethics and security to determine our star rating for the business checking account. We use a weighted average to get our star rating.
