October 5, 2023

Chase Business Checking Minimum Balance

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Discover the current minimum balance for Chase business checking accounts and how to avoid fees.

No one likes paying unnecessary fees. Before you open a Chase business checking account, know the minimum balance requirements so you can avoid them.

There are also other ways to skip the monthly fee without worrying about a minimum. Read on to find out.

Do Chase Business Accounts Have a Minimum Balance?

Chase business checking accounts have a minimum balance or other requirements if you want to skip the monthly fees. There is no free business checking option.

The entry-level business account, Chase Business Complete Banking, requires the lowest minimum daily balance of $2,000. Here's a quick overview of all three accounts:[1]

AccountMonthly Service FeeMinimum Balance to Waive Monthly Fee
Chase Business Complete Banking$15$2,000
Chase Performance Business Checking$30$35,000
Chase Platinum Business Checking$95$100,000

Get more details below.

How to Waive Chase Business Checking Monthly Fees

Chase Business Complete Banking:
Waive the $15 monthly fee by meeting any one of the following criteria each statement period:

  • $2,000 minimum daily ending 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

Chase Performance Business Checking®:
Waive the $30 monthly service fee by maintaining a $35,000 combined average beginning day balance.

Chase Platinum Business Checking:
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).

Why do banks have a minimum balance?
Many banks require a minimum balance because it costs them money to maintain your account. So keeping a certain minimum helps them make money from your deposits. Premium accounts usually require higher minimums, because they get more services and fee waivers.

What Is Minimum Daily Ending Balance?

Chase Business Complete Banking requires $2,000 minimum daily ending balance to waive the monthly fee.

A minimum daily ending balance means you need to have at least that much in your account balance at the end of each business day during the monthly statement period.

Your balance can dip below the minimum during the day, but you must bring it back up to the required minimum by the end of the business day.

Example: You have a balance of $2,500 in your Chase Business Complete Banking account. You withdraw $1,000 and don't deposit any more money. Your ending balance for that day is $1,500, which falls short of the minimum requirement for the monthly fee waiver.

This means, your account may still incur a monthly fee for that particular statement period.

What is Average Beginning Day Balance?

Chase Performance Business Checking and Platinum Business Checking both require average beginning day balances.

This is based on the average of your balances at the beginning of each day. It's computed by adding all your beginning day balances and dividing them by the number of days in a month.

Chase lets you combine accounts to meet the minimum requirement. This means you can combine all your daily balances from eligible business accounts, which include:

  • Linked Chase business savings accounts
  • Chase Business CDs
  • Other Chase business checking accounts

Example: You have a Chase Performance Business Checking account with an average beginning day balance of $10,000. If you also have $25,000 in a linked business savings account, you can meet the combined average beginning day balance of at least $35,000. This will let you waive the monthly fee.

Is Chase Business Checking Worth It?

Chase Business Complete Banking is a good option despite having a minimum balance. The $2,000 minimum is reasonable for small businesses. And there are other ways to waive the monthly fee too.

What's special about it is that it comes with built-in credit card processing (no need for a separate merchant account). This makes it especially convenient for small retailers, food, or service businesses.

You also get unlimited electronic deposits, which is more generous than other entry-level business checking accounts.

Plus, you can even snag a welcome bonus to boost your funds.

However, for businesses that may not need a physical bank, there are free online business banking accounts without minimums.

Comparison with Other Business Checking Accounts

Here is a comparison of minimum balances for entry-level business checking accounts of other banks.

Chase Business Complete Banking requires a minimum daily balance of at least $2,000 to waive the $15 monthly fee.

Bank of America has a higher minimum balance of $5,000, but, you can also waive the fee with just $250 of purchases on the BofA business debit card each month. While US Bank offers a free business checking account.

These options might be more appealing for new and small businesses that don't yet have steady finances.

How to Open a Chase Business Checking Account

Here are the general steps to opening a business checking account with Chase.

  1. Gather 2 IDs (at least one government-issued ID), SSN or EIN, and documents related to your specific business category.
  2. Open an account online or visit a nearby Chase branch.
  3. Wait for the bank's approval, which may take several days to process.
  4. Fund your account.

Note that while many of Chase's accounts do not have a minimum initial deposit, it is important to fund your Chase account within 60 days of account opening to avoid account closure.

What Happens If You Go Below the Minimum Balance?

You will incur a monthly fee if you drop below the minimum balance requirement. But your account will stay open and you can keep using it.

However, it's not a good idea to keep an account with a very low balance. You can be charged a monthly fee and overdraw the account (which will just pile on more fees).

Plus, it may impact your relationship with your bank. They may not be so accommodating to your requests or give favors, such as pre-approvals to loans, that they typically extend to their "good" customers.

Can you have a checking account with zero balance?
Yes, most checking accounts tolerate zero balances. However, it's not good to keep an empty account, since it's easy to overdraft it, and the bank may close your account for inactivity.

Bottom Line

Chase business checking accounts require a minimum or some other criteria to waive the monthly fee. So before you open an account, make sure you are able to meet the requirements. Read the fine print carefully.

If you don't want to worry about maintaining a minimum, check out free business checking accounts with no minimum balances and monthly fees.


  1. ^ Chase. Additional Banking Services and Fees, Retrieved 9/25/2023

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