Is Chase Business Checking Good for Small Business?

Chase offers 3 business checking accounts. Take a look at their current promotions, requirements, and fees in this guide.

Chase has more than 4,700 physical branches and more than 15,000 ATMs available. Their nationwide presence, online banking services, and mobile app are ideal for small business owners.

Check out their standout features and disadvantages below.

Is Chase a Good Bank for Small Businesses?

Chase Bank is known for its 24/7 customer service with real reps, excellent credit cards for small businesses , and numerous physical locations.

Their affordable fees and mobile access are great for those just starting their business.

Chase Bank also offers:

• Business checking accounts
  
• Business credit cards
  
• Business lending; term loans starting from $5,000
  
• Lines of credit starting from $10,000
  
• Commercial real estate loans
  
• Merchant services
  
• SBA 7(a), SBA 504, and SBA Express loans

Here's a snapshot of all three Chase business checking accounts and their individual details.

Chase Business Checking Accounts

• Chase Business Complete Banking - You get unlimited electronic deposits and access to Chase QuickAccept for credit card payment processing. However, you only get 20 free in-person transactions per month. Other business checking accounts give you more.
  

  Chase Business Complete Banking® - $300 Bonus

  Click Here to Get Coupon

  Expires 7/22/2024

  • 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 - Best for mid-sized businesses

• Chase Platinum Business Checking - Best for larger business

How Much Does Chase Bank Charge for a Business Account?

Chase charges $15 - $95 in monthly maintenance fees, depending on the account.^[1] But there are a variety of ways to waive these charges - see below.

Chase Business Complete Banking Fees

• Chase Business Complete Banking - $15 OR $0 monthly service fee

  How to waive the fee: There are multiple options to waive the Monthly Service Fee, such as maintaining a minimum daily balance, purchases on your Chase Ink® credit card, or deposits from Chase QuickAccept℠ transactions.

• Chase Performance Business Checking - $30 OR $0 monthly service fee

  How to waive the fee: Maintain a minimum daily balance of $35,000 or more in qualifying business deposit accounts.

• Chase Platinum Business Checking - $95 OR $0 monthly service fee

  How to waive the fee:
  

  • Maintain a minimum daily balance of $100,000 or more in qualifying business deposit accounts
    
  • Maintain a combined average daily balance of $50,000 and link a Chase Private Client Checking account

How to Open a Chase Business Checking Account

You will need the following information to open a Chase business checking account:

• Two forms of ID, such as a driver's license and passport
  
• Tax ID Number: Employer ID or Social Security number
  
• Business information, such as address and phone numbers
  
• Business name filing document or a business license
  
• Partnership agreement (for partnerships)
  
• Articles of organization (for LLCs)
  
• Articles of incorporation (for corporations)

What is the Best Bank for Small Business Checking?

Chase Bank is the top choice for complete banking. That's because the national bank offers checking, payment processing, and credit cards. Most other banks don't cover that many services.

But Chase Bank may not be for everyone. If you're looking for something else to manage your business' finances, check out this extensive list of the best banks for small businesses.

For a quick rundown, compare small business banking alternatives below.

Compare Business Checking Promotions

Free Checking Account for Sole Proprietors and Single-Member LLC

• Sign up in 3 minutes; no credit check
• No account fees - $0 monthly fee, overdraft fee, foreign transaction fee, or ATM fees at 38,000+ locations
• Automatic Savings
• Get paid up to 2 days early

Banking services provided by Choice Financial Group, Member FDIC

Get Started

• Minimum Deposit to Open: $0

Member FDIC

Bank of America Business Advantage Checking Account - $200 Bonus Offer

Learn More

Expires 6/30/2024

Earn a cash bonus in three steps:

1. Open a new eligible business checking account by June 30, 2024
2. Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
3. Maintain an average balance of $5,000 for the next 60 days (day 31-90) during the maintenance period**

*Qualifying Deposits are deposits of new money, which is money not currently or previously held in any account at Bank of America or Merrill
**The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
Member FDIC

Free Business Checking - Up to 2.0% APY

Get Deal

• 2.0% APY on your balance up to $250,000 for customers that meet monthly eligibility requirements
• $0 minimum opening deposit
• $0 monthly service fee

Banking services provided by Coastal Community Bank, Member FDIC

• Minimum Deposit to Open: $0

No-Fee Business Checking

• $0 monthly service fee
• $0 minimum opening deposit
• Open up to 20 individual business checking accounts
• Earn up to 3% APY with automated savings
• Issue up to 50 Visa® debit cards to your team

Banking services provided by Thread Bank and Evolve Bank & Trust; Members FDIC.

Get Deal

• Minimum Deposit to Open: $0

Free Business Banking for the Self-Employed

• $0 monthly service fees or minimums
• Automatically find tax write-offs and track expenses
• Auto-save for taxes
• Photo receipt capture
• Free unlimited custom invoices
• Easy sign up; no credit check

Found is a financial technology company, not a bank. Banking services are provided by Piermont Bank, Member FDIC. The Found Mastercard® Debit Card is issued by Piermont Bank, Member FDIC.

Get Deal

• Minimum Deposit to Open: $0

Free Business Checking

• $0 monthly service fee
• $50 deposit to unlock all features
• ATM fee refunds up to $7 per month

Banking services provided by Middlesex Federal Savings F.A., Member FDIC

Learn More

• Minimum Deposit to Open: $50

Member FDIC

Silver Business Checking Package - Up to $800 Bonus

Earn up to an $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q1AFL24 and complete qualifying activities, subject to certain terms and limitations. Offer valid through April 23, 2024. Member FDIC. Complete these steps to earn the offer:

Earn your $350.

• 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.

Get Deal

Expires in 8 hours

• Minimum Deposit to Open: $100

Member FDIC

Basic Business Checking - Up to $400 Bonus

Get Deal

Expires 6/30/2024

• 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 and maintain a minimum average daily balance of $50,000.*
• Zero opening deposit and cash deposits accepted
• Zero minimum monthly balance requirements
• Two domestic wire reimbursements monthly
• Unlimited domestic ATM fee reimbursements
• Enhanced Visa benefits and first 50 checks free
• Dedicated relationship manager and more

• Minimum Deposit to Open: $0
• Direct Deposit Required: No

NorthOne Free Business Banking

• Business banking for teams
• Automatic invoice ingestion and payments
• Sales and revenue analytics
• Unlimited account envelopes
• Close to 100 integrations
• Over $5000 in perks for new customers
• No monthly fees, no application fees, no minimum balance

NorthOne is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, Member FDIC.

Learn More

• Minimum Deposit to Open: $50

Chase Business Credit Card Promotions

At Chase's Secure Site Ink Business Cash® Credit Card Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases 10% Business Relationship Bonus If you have the Ink Business Cash card plus a Chase Business Checking account on your first card anniversary With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information. No Annual Fee Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®. 0% introductory APR for 12 months on purchases Member FDIC Intro APR for Purchases Intro APR for Balance Transfer Regular APR Annual Fee 0% for 12 months N/A 18.49% - 24.49% Variable $0

At Chase's Secure Site Ink Business Unlimited® Credit Card Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening Earn unlimited 1.5% cash back on every purchase made for your business No Annual Fee Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®. Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control. Round-the-clock monitoring for unusual credit card purchases With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information. 0% introductory APR for 12 months on purchases Member FDIC Intro APR for Purchases Intro APR for Balance Transfer Regular APR Annual Fee 0% for 12 months N/A 18.49% - 24.49% Variable $0

At Chase's Secure Site Ink Business Preferred® Credit Card Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Travel℠ Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases Round-the-clock monitoring for unusual credit card purchases With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information. Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open Points are worth 25% more when you redeem for travel through Chase Travel℠ Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account. Member FDIC Intro APR for Purchases Intro APR for Balance Transfer Regular APR Annual Fee N/A N/A 21.24% - 26.24% Variable $95

Bottom Line

Chase Business Complete checking is their most popular business bank account. There's no minimum opening deposit and you get unlimited electronic deposits. Plus, Chase is offering a Chase business account bonus right now for new customers with qualifying activities.

And no matter which accounts you choose, it's pretty simple to waive the monthly maintenance fee.

Chase's 15,000 ATMs and more than 4,700 physical locations are great for small business owners who want branch access. Just be sure to check their hours before visiting.

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