We all know how great Chase business credit cards are, but what about their banking services? If you’re in search of a great checking account for your business, see how Chase stacks up.
Chase offers a few different checking accounts for businesses, ranging from one that’s great for small companies to one that’s better for a large established business.
This post will explain everything you need to know, including account benefits and any associated fees, as you decide which Chase business checking account is the best fit for your business.
Chase Business Checking Accounts Overview
There are many benefits offered by all Chase business checking accounts.
- Chase Mobile® Banking: This feature allows you to access your Chase accounts anytime, anywhere through the Chase app, the mobile website, or even through text.
- Chase OnlineSM Banking: You can manage your personal and business Chase accounts including bank accounts and credit cards online with a single user ID.
- Access to 16,000 ATMs and more than 4,700 Chase branches
- Debit cards
- 24/7 customer service
To open an account, you will need to visit a Chase branch with all required documentation (see below). You can easily search online for the nearest Chase branch. If you have a current business checking account at another bank, Chase makes it easy to switch by offering a step-by-step guide to help you along the way.
How to Access Chase Business Checking Information
There are 2 ways to access more information about Chase Business checking accounts.
- Go to chase.com and click on the drop-down menu under Open an Account. Select Chase for Business, then select Business Checking.
- Go directly to chase.com/business and select Business Checking.
Types of Chase Business Checking Accounts
There are a few distinct business checking accounts offered by Chase. The size of your business will be a big factor in determining which account is right for you.
- Chase Business Complete Banking®
- Chase Performance Business Checking
- Chase Platinum Business Checking
Chase recently launched the Chase Business Complete Banking which has no minimum deposit to open an account. Customers have the option to open their account online or in-branch.
Cost
There are some fees associated with a Chase Business Complete Checking account:
- Minimum Deposit to Open: None
- Monthly Service Fee: $15 with ways to waive
- Insufficient Funds Fee: $34 with ways to waive
- Non-Chase ATM Fee: $3
Benefits
- 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.
- Full-service business banking. Convenient access to all your business banking services in one place — lending, checking, credit card and payment solutions.
- Your choice of payment types. Choose from a full range of options for accepting payments and making deposits that include Zelle®, Online Bill Pay, wire transfers and ACH payments.
- Convenient access to payment processing. Process all major debit and credit cards with QuickAccept®. It’s a built-in feature with your Business Complete Checking account.
- Helping you save money. Multiple ways to waive $15 service fee and unlimited digital transactions helps you keep more of your money.
- Full-featured banking online and on-the-go. Manage your business’ finances on your terms with the latest online and mobile banking technology.
- Trusted and secure financial partner. We’re committed to helping you grow and protect your business.
2. Chase Performance Business Checking (Mid-Size Businesses)
This type of business checking will appeal to mid-size businesses that aren’t too big, but not too small (sort of the Goldilocks of Chase business checking accounts!). There is a minimum $25 deposit to open a Chase Performance account.
Cost
There is a monthly service fee of $30 that’s waived when you maintain an average daily balance of $35,000 in qualifying business deposit accounts.
Benefits
- 250 free transactions each month.
- Unlimited electronic deposits.
- Unlimited incoming wires plus 2 outgoing domestic wires with no additional fee per statement cycle.
- No additional fee for up to $20,000 in cash deposits each month.
- No charge for Positive Pay and Reverse Positive Pay.
Hot Tip: If you’re interested in opening a Chase business savings account along with your Chase business checking account, Chase provides excellent options for that as well.
3. Chase Platinum Business Checking (Large Businesses)
Designed for large businesses, the Chase Platinum Business Checking account has the largest monthly fee but has the greatest benefits.
Cost
There is a monthly service fee of $95 that is waived when you maintain an average daily balance of $100,000 in qualifying business deposit and business investment accounts. Even with this premium account, the required minimum deposit is still only $25.
Benefits
- 500 free transactions each month.
- Unlimited electronic deposits.
- Unlimited incoming wires plus 4 outgoing domestic wires with no additional fee per statement cycle.
- No additional fee for up to $25,000 in cash deposits each month.
- No charge for Positive Pay and Reverse Positive Pay
- Reduced balance requirement for Chase Private Clients
- Monthly service fee waived on a linked Chase Business Premier SavingsSM account
Bottom Line: Chase offers different business checking accounts: Chase Business Complete Banking, Chase Performance Business Checking, and Chase Platinum Business Checking.
Requirements for Opening a Chase Business Checking Account
Chase business checking account requirements vary based on the type of business you have.
1. Sole Proprietorship
If you are a sole proprietor, you’ll need to meet these basic requirements. For a full list of requirements, click here.
All owners, trustees, or agents plus any authorized signers must be present when opening the account.
- Two forms of ID including at least 1 issued by the government such as a state-issued driver’s license or passport.
- Tax Identification Number or Social Security number, ITIN (non-US Citizens), or Employer Identification Number (EIN).
- Business documentation, which may include an Assumed Name Certificate or Trust Documentation. These requirements vary by state.
- Certain information about your business will be requested at account opening and will include your business address and phone number, number of locations, where your products or services are sold, the location of suppliers and vendors, annual sales, number of employees, and the anticipated amount of transactions processed through your new account.
2. Partnership
If you have a partnership, you’ll need to meet these basic requirements. For a full list of requirements, go here.
All general partners in the partnership and any authorized signers must be present when opening the account.
- Two forms of ID including at least one issued by the government such as a state-issued driver’s license or passport.
- Tax Identification Number (your Employer Identification Number).
- Partnership agreement or joint venture agreement, assumed name certificate, plus website validation.
- Basic business information including business address and phone number, number of locations, where your products or services are sold, the location of suppliers and vendors, annual sales, number of employees, and anticipated amount of transactions processed through your new account.
- Supplemental documentation including an amendment to the Partnership Agreement or Joint Venture Agreement, letter on company letterhead listing the current general partners, or an annual report may be requested.
3. Unincorporated Business Association or Organization
If you have an unincorporated business association or organization, you’ll need to meet these basic requirements. For a full list of requirements, go here.
An authorized representative (either the Secretary or Assistant Secretary) plus any authorized signers must be present when opening the account.
- Two forms of ID including at least 1 issued by the government such as a state-issued driver’s license or passport.
- Tax Identification Number (your Employer Identification Number).
- If the organization or association is using its own EIN, requirements will include articles of association, a charter document validating existence, and IRS Confirmation of EIN issuance.
- If the organization or association is using the EIN of a national or regional organization, a letter of authorization from the national or regional office is required.
- Assumed Name Certificate (varies by state)
- Basic business information including business address and phone number, number of locations, where your products or services are sold, the location of suppliers and vendors, annual sales, number of employees, and anticipated amount of transactions processed through your new account.
- Supplemental documentation may be required including a letter on organization or association letterhead or meeting minutes listing the current officers.
4. Limited Liability Company (LLC)
If you have an LLC, you’ll need to meet these basic requirements. For a full list of requirements, click here.
All members or managers of the LLC plus any authorized signers must be present when opening the account.
- Two forms of ID including at least 1 issued by the government such as a state-issued driver’s license or passport.
- Tax Identification Number (your Employer Identification Number). Single-member LLCs can use their SSN or ITIN and non-U.S. Citizens can use an ITIN.
- Certified Articles of Organization (Certificate of Formation) filed with a state agency.
- Website validation
- Assumed Name Certificate (varies by state)
- Basic business information including business address and phone number, number of locations, where your products or services are sold, the location of suppliers and vendors, annual sales, number of employees, and anticipated amount of transactions processed through your new account.
- Documentation listing the current members or managers of the LLC may be required.
5. Corporation
For a Corporation, you’ll need to meet these basic requirements. For a full list of requirements, click here.
An authorizing representative (President, Secretary, Assistant Secretary, or Acting Secretary) plus any authorized signers must be present when opening the account.
- Two forms of ID including at least 1 issued by the government such as a state-issued driver’s license or passport.
- Tax Identification Number (your Employer Identification Number).
- Business documentation filed with a state agency: Certified Articles of Incorporation, Website Validation, Active Status Verification.
- Assumed Name Certificate (varies by state)
- Documentation listing the current officers of the Corporation (such as a letter on company letterhead, meeting minutes, or annual report) may be required.
- Basic business information including business address and phone number, number of locations, where your products or services are sold, the location of suppliers and vendors, annual sales, number of employees, and anticipated amount of transactions processed through your new account.
- Additional information from owners, shareholders, and individuals holding key roles may be required.
Bottom Line: The documentation needed to open a Chase business checking account varies based on the type of business you have.
Coupons for Opening a Chase Business Account
Often, you will be able to find a coupon or special to get a little cash-back for opening a business account. You can receive a $300 bonus when opening a new Chase Business Complete Checking and meet the following requirements:
- Deposit a total of $2,000 in new money within 30 business days of account opening
- Maintain that balance for at least 60 days from the initial deposit
- Complete 5 qualifying transactions within 90 days of account opening. Qualifying transactions include debit card purchases, Chase QuickAccept deposits, Chase QuickDeposit℠, ACH (Credits), wires (Credits and Debits).
If your account is closed within the first 6 months, your bonus will be deducted at closing.
You can only receive 1 checking account opening-related bonus per calendar year and only 1 bonus per account.
Hot Tip: Sometimes Chase will offer a cash bonus for opening a business checking account. These usually range from about $200-$500.
Chase Business Rewards Cards
If you don’t have one already, there are many great reasons to open a business credit card. For example, pairing your Chase business checking account with a Chase business credit card for all of your business expenses will help you earn valuable points and rewards.
Recommended Chase Cards (Business)
The Ink Business Preferred card is hard to beat, with a huge welcome bonus offer and 3x points per $1 on the first $150,000 in so many business categories.
Learn More(at Chase’s secure site)
$2,000
21.24%-26.24% Variable
The Ink Business Preferred® Credit Card is a powerhouse for earning lots of points from your business purchases, especially for business owners that spend regularly on ads.
Plus the card offers flexible redemption options, including access to Chase airline and hotel transfer partners where you can achieve outsized value.
Business owners will also love the protections the card provides like excellent cell phone insurance, rental car insurance, purchase protection, and more.
This card offers great rewards and no annual fee. Any new business owner that needs to get going will enjoy this card.
Learn More(at Chase’s secure site)
Up to $750
0% intro APR on purchases for 12 months; 18.49% – 24.49% variable thereafter.
The Ink Business Unlimited card is a stellar option for business owners looking for a no-fuss uncapped 1.5% cash-back card without an annual fee.
Learn More(at Chase’s secure site)
$750
0% intro APR on purchases for 12 months; variable 18.49% – 24.49% thereafter
As a business owner, you likely keep pretty busy and probably prefer a credit card that just keeps things simple.
If so, the Ink Business Unlimited® Credit Card might be just the card for you. From zero annual fee to a flat cash-back rate, the card is a no-frills option that you don’t have to think twice about.
Don’t forget too, 0% intro APR on purchases for 12 months; variable 18.49% – 24.49% thereafter
Earn up to 5% cash-back for your business without complex bonus earning categories!
Learn More(at Chase’s secure site)
Flex for Business Variable APR: 19.49% – 27.49%
- Earn $1,000 bonus cash back after you spend $10,000 on purchases in the first 3 months from account opening.
- Earn unlimited 2.5% total cash back on purchases of $5,000 or more and unlimited 2% cash back on all other business purchases.
- Travel Benefits: Unlimited 5% total cash back on travel purchased through Chase Travel℠, No Foreign Transaction Fees and Trip Cancellation/Trip Interruption Insurance.
- The only business credit card with 2.5% cash back on every purchase of $5,000 or more.
- Get the buying power you need to make large purchases, cover monthly expenses and help your business grow. While you must pay your Pay In Full balance each month, this card has built-in flexibility. The Flex for Business feature allows for qualifying purchases to be paid over time with interest.
- Purchase with confidence with built-in protections like Fraud Protection, Zero Liability Protection, Purchase Protection, Cell Phone Protection, and Extended Warranty Protection.
- There’s no additional cost for employee cards. Monitor spend with digital tools like purchase alerts, set spending limits, reporting, and more.
- Member FDIC
Financial Snapshot
- APR: Flex for Business Variable APR: 19.49% – 27.49%
- Foreign Transaction Fees: None
Card Categories
If you’re not sold on any of the Chase business credit cards, there are many other great business credit cards on the market that are worthy of your consideration. If the concept of earning and redeeming points and miles seems a bit too complex — don’t worry! We’ve put together a dedicated ultimate guide to points and miles for business owners to help you hit the ground running.
Final Thoughts
Chase offers a variety of business checking accounts for any size business.
Whether you’re a sole proprietor or run a huge corporation, there’s a Chase business checking account available to meet your needs.
