Chase Business Checking Fees
Ad Disclosure: This article contains references to products from our partners. We may receive compensation if you apply or shop through links in our content. You help support CreditDonkey by using our links.
What is the cost of having a Chase business checking account? Learn how to waive the monthly service fee, plus other fees you should know.
 |
Chase offers some of the best business checking accounts. But, Chase is notorious for their fees.
Luckily, you can avoid the monthly service fee, and work around other banking fees.
Read on for a full breakdown of Chase's business checking fees.
Does Chase business checking have a fee?
Chase offers 3 business checking account options. They all have a monthly service fee that can be waived. Here's a brief comparison:
| Account | Monthly fee | Minimum balance to waive |
|---|---|---|
| Chase Business Complete Checking | $15 | $2,000 |
| Chase Performance Business Checking | $30 | $35,000 |
| Chase Platinum Business Checking | $95 | $100,000 |
Besides monthly fees, there are also fees for excess transactions and cash deposits, overdrafts, and other banking services.
Below are the most common fees for each account.[1]
Chase Business Complete Banking Fees
Chase Business Complete Banking is the basic tier business checking account.
This account includes built-in credit card processing. You can accept credit card payments through the Chase QuickAccept mobile card reader or manually on the Chase mobile app or chase.com.
How to waive the monthly fee:[2]
Waive the $15 monthly fee by fulfilling one of the following each statement period:
- $2,000 minimum daily balance
- $2,000 in eligible purchases on your Chase Ink® Business Card(s)
- $2,000 in deposits from Chase QuickAccept℠ or other eligible Chase Payment Solutions transactions
- Link a Chase Private Client Checking℠ account
- Provide qualifying proof of military status
Transaction fees:
- Free unlimited electronic transactions
- 20 free paper and teller transactions per month
- $0.40 per item above 20
Cash deposit processing fees:
- First $5,000 in cash deposits per month free
- $2.50 per $1,000 above that
Chase QuickAccept fees:[3]
- Swipe, dip & tap transactions: 2.6% + $0.10
- Manual transactions: 3.5% + $0.10
- Monthly fee: $0
- Optional QuickAccept card reader: $49.95
Chase Business Complete Banking® - $300 Bonus
- 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.
Chase Performance Business Checking® Fees
Chase Performance Business Checking is the mid-tier account. You get a lot more cash deposits and physical transactions, as well as some other fee waivers.
How to waive the monthly fee:[4]
Waive the $30 monthly service fee by maintaining a $35,000 combined average beginning day balance.
Transaction fees:
- Free unlimited electronic transactions
- 250 free debits and non-electronic deposits
- $0.40 per item above 250
Cash deposit processing fees:
- First $20,000 in cash deposits per month free
- $2.50 per $1,000 above that
Fee waivers:
- $0 for incoming wire transfers
- 2 most expensive outgoing domestic wires per month free
- No non-Chase ATM fees charged by Chase
- $0 for Counter Checks, Money Orders, Cashier's Checks
- Link up to 99 Chase Performance Business Checking subaccounts
- No monthly service fee on a linked Chase Total Checking® account
Chase Platinum Business Checking Fees
Chase Platinum Business Checking is the premium-tier account designed for bigger businesses. It comes with higher transaction limits, more fee waivers, plus dedicated Platinum concierge support.
How to waive the monthly fee:[5]
Waive the $95 monthly service fee by maintaining a $100,000 combined average beginning day balance ($50,000 when linked to Chase Private Client Checking).
Transaction fees:
- Free unlimited electronic transactions
- 500 free debits and non-electronic deposits
- $0.40 per item above 500
Cash deposit processing fees:
- First $25,000 in cash deposits per month free
- $2.50 per $1,000 above that
Fee waivers:
- $0 for incoming wire transfers
- 4 most expensive outgoing wires per month free
- 1 Overdraft Fee waived per statement period
- No non-Chase ATM fees charged by Chase
- $0 for Stop Payments
- $0 for Counter Checks, Money Orders, Cashier's Checks
- Link up to 99 Chase Platinum Business Checking subaccounts
- No monthly service fee on a linked Chase Premier Plus Checking account
- No monthly charge for QuickDeposit Single Feed
Common Business Checking Fees
Let's check out other fees you may encounter with your Chase business checking account.
Overdraft Fees
Chase charges $34 per overdraft, for transactions that overdraw your account balance by more than $50.
You can be charged up to 6 overdraft fees per business day, for up to $204/day total.
How to avoid overdraft fees:[6]
- No overdraft fee if the transaction is $5 or less.
- No overdraft fee if you're overdrawn by $50 or less at the end of the business day, OR you bring your account balance to overdrawn by $50 or less by 11 pm ET the next business day.
- Link a Chase business savings account or Chase business line of credit and Chase will transfer funds to cover the transaction.
ATM/Debit card fees
| Domestic non-Chase ATM withdrawal | $3 |
| Foreign ATM withdrawal | $5 |
| Cash withdrawal via debit card at non-Chase teller | 3% or $5, whichever is higher |
| Foreign exchange rate adjustment | 3% of withdrawn amount in USD |
| Card replacement (rush request) | $5 per card |
Chase lets you access their 16,000+ ATMs nationwide for free. Note that this free accommodation extends to Chase ATMs in Puerto Rico and US Virgin Islands.
Foreign currency transactions involving ATM withdrawals and debit card purchases will incur a 3% fee.
Wire Transfer Fees
Incoming wire transfers
Chase does not charge a fee for incoming wires if the transfer was originally sent with the help of a Chase banker or using chase.com or Chase Mobile. Otherwise, it's $15 per transfer.
All incoming wire transfers are free for Chase Performance Business Checking and Platinum Checking accounts.
Outgoing wire transfers
The fees for sending wire transfers are as follows:
| Domestic wire via chase.com or Chase Mobile | $25 |
| Domestic wire via branch | $35 |
| International wire via chase.com (USD) | $40 |
| International wire via branch (USD or FX) | $50 |
| FX International wire via chase.com or Chase Mobile | $5 per transfer, or $0 if the amount is equal to $5,000 USD or more |
Chase Performance Business Checking won't charge you for the 2 most expensive outgoing domestic wires each statement cycle.
Chase Platinum Business Checking waives the fee for your 4 most expensive outgoing wires each statement cycle.
Other Business Checking Fees
Here are some fees for other banking services you may use:
| Checkbook reorder | Varies* |
| Counter check | $3 per page |
| Money order | $5 per check |
| Cashier's check | $10 per check |
| Check enclosure fee | $4 |
| Legal processing | Up to $100 per order |
| Stop Payment (with banker) | $30 per request |
| Stop Payment (Online or Automated Phone) | $25 per request |
| Stop Payment Automatic Renewal | $4 per item per year |
*There are no fixed checkbook reorder fees since they differ among printing service providers. However, they typically cost $20 to $30 for 100 checks, more if they are personalized.
Optional Services
Below are optional services for Chase business checking accounts, and their fees.[7]
ACH Payments:
Initiate electronic (ACH) payments to a checking or savings account in the U.S.
- $2.50 per item for first 10 items per month
- $0.15 per item above 10 per month
- $2.50 return fee
ACH Collections:
Initiate electronic (ACH) collections to a checking or savings account in the U.S.
- $25 for the first 25 items per month
- $0.25 per item above 25 per month
- $2.50 return fee
ACH Debit Block:
Allows clients to block all or allow some ACH debits from a checking account (on Chase Business Online). $0 monthly fee.
Check Protection Services (Positive Pay):
Helps prevent fraud by allowing customers to upload a file or enter information about checks they have written, and Chase compares
checks presented for payment against that information. $0 monthly fee per account.
Check Monitoring (Reverse Positive Pay):
Helps prevent fraud by allowing customers to monitor checks presented to Chase for payment against checks they have
written. $0 monthly fee per account.
QuickDeposit:
Remotely scan and deposit checks using a check scanner via chase.com.
- Multiple Feed Check Scanner: $50/month
- Single Feed Check Scanner: $25/month
- Cancellation Fee: $250 (for service canceled within first 2 years)
- Additional Multiple Feed Check Scanner: $600 per scanner
- Additional Single Feed Check Scanner: $300 per scanner
Real Time Payments / Same Day ACH:
Initiate electronic payments to a checking or savings account in the U.S.
- 1% of transaction amount, OR
- $25 per transaction, whichever is less
Compare Business Checking Accounts
Bank of America Business Advantage Checking Account - $200 Bonus Offer
- Open a new eligible business checking account by June 30, 2024
- Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
- Maintain an average balance of $5,000 for the next 60 days (day 31-90) during the maintenance period**
**The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
Member FDIC
Silver Business Checking Package - Up to $800 Bonus
Earn up to $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q2AFL24 and complete qualifying activities, subject to certain terms and limitations. Offer valid through August 30, 2024. Member FDIC. Complete these steps to earn the offer:
Earn your $400.
- Complete $5,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
Earn your $800.
- Complete $25,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
Gold Business Checking Package - Up to $800 Bonus
Earn up to $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q2AFL24 and complete qualifying activities, subject to certain terms and limitations. Offer valid through August 30, 2024. Member FDIC. Complete these steps to earn the offer:
Earn your $400.
- Complete $5,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
Earn your $800.
- Complete $25,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
Platinum Business Checking Package - Up to $800 Bonus
Earn up to $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q2AFL24 and complete qualifying activities, subject to certain terms and limitations. Offer valid through August 30, 2024. Member FDIC. Complete these steps to earn the offer:
Earn your $400.
- Complete $5,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
Earn your $800.
- Complete $25,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
Basic Business Checking - Up to $400 Bonus
- Business owners get up to $400 welcome bonus!*
- Open a business checking account by June 30 and get up to $400 when you use promo code NEW400 on your application.*
- No initial deposit requirement
- No minimum balance requirement
- No monthly maintenance fees
- Free domestic incoming wires. Two (2) outgoing domestic wire fees reimbursed per month.
- Unlimited domestic ATM fee reimbursements
- Unlimited item processing (debits, credits, and deposited items)
- Cash deposits via MoneyPass and AllPoint networks
Business Interest Checking - 1.01% APY
- Business owners get up to $400 welcome bonus!*
- Open a business checking account by June 30 and get up to $400 when you use promo code NEW400 on your application.*
- Up to 1.01% APY*
- $100 minimum opening deposit
- Pay no monthly maintenance fee with an average daily balance of at least $5,000
- Unlimited domestic ATM fee reimbursements
- Up to 100 free items per month, $0.50 per item thereafter (includes debits, credit, and deposited items)
- Up to 60 items per month for Remote Deposit Anywhere (includes monthly per item processing limitation)
- Free online banking, image statements, and Bill Pay
Bottom Line
Chase business checking accounts have a lot of fees, but many are avoidable.
Chase Business Complete Banking® - $300 Bonus
- 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.
Now that you know what to expect, you can strategize by working around some of them. This way, you avoid unnecessary fees while making the most out of your business account.
References
- ^ Chase. Additional Banking Services and Fees, Retrieved 9/25/2023
- ^ Chase Complete Banking, Retrieved 10/10/23
- ^ Chase. Chase QuickAccept, Retrieved 9/14/2023
- ^ Chase. Performance Business Checking, Retrieved 10/10/23
- ^ Chase. Platinum Business Checking, Retrieved 10/10/23
- ^ Chase. Overdraft Fees, Retrieved 10/10/23
- ^ Chase. Fees, Retrieved 10/10/23
Write to Penelope Besana at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.
|
|
| ||||||
|
|
|
