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Updated August 5, 2023

Is Chase Business Checking Good for Small Business?

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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 Performance Business Checking - Best for mid-sized businesses

  • Chase Platinum Business Checking - Best for larger business

Chase Business customer service
  • Online/Mobile Banking Technical Support: 1-877-ChasePC (1-877-242-7372)
  • Business Platinum Line: 1-877-425-8100
  • Ink Business Credit Card Services: 1-800-945-2028
  • Ink Credit Card Member Services: 1-800-346-5538
  • Merchant Services: 1-888-886-8869

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.

Does Chase offer a free business checking account?
Chase waives monthly maintenance fees for all three of their business checking accounts if you maintain a certain minimum balance or make consistent monthly deposits. There are actually a lot of free business checking options available.

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)

Can you open a business account online?
Generally, sole proprietors can open business accounts online and get approved. But for an LLC, partnership, or corporation, you and any partner or members will need to visit a nearby Chase branch and sit down with a banker in person.

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

Chase Business Credit Card Promotions

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.

References

Chase
Member FDIC

Chase Business Complete Banking® - $400 Bonus

Expires 4/18/2024
  • Earn $400 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.
  • Multiple ways to waive the 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 service fees 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
Member FDIC

Chase Total Checking® - $300 Bonus

Expires 4/17/2024
  • New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
  • Access to more than 15,000 Chase ATMs and more than 4,700 branches
  • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
  • JPMorgan Chase Bank, N.A. Member FDIC
  • Open your account online now
  • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
  • 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*
Bank of America
Member FDIC

Bank of America Advantage Banking - $200 Bonus Offer

Expires 5/31/2024
  • The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
  • The offer is for new checking customers only.
  • Offer expires 5/31/2024.
  • To qualify, open a Bank of America Advantage Banking account through the promotional page and set up and receive qualifying direct deposits totaling $2,000 or more into that new account within 90 days of opening.
  • Bank of America will attempt to pay bonus within 60 days.
  • Additional terms and conditions apply. See offer page for more details.
  • Bank of America, N.A. Member FDIC.
Citibank
Member FDIC

Enhanced Direct Deposit - Earn $300 Cash Bonus

Earn $300 cash bonus when you open a new eligible checking account with Enhanced Direct Deposit and complete required activities. Member FDIC

  • Open a new eligible Citi Checking account with Enhanced Direct Deposits
  • Deposit at least two Enhanced Direct Deposits directly into your new checking account within 90 calendar days from account opening.
  • Your total combined Enhanced Direct Deposit must equal $1,500 or more.
  • Earn a $300 cash bonus. Your cash bonus will be deposited to your open, eligible checking account within 30 calendar days after required activities have been completed.
Discover Bank
Member FDIC

Discover® Online Savings - $200 Cash Bonus

Expires 3/14/2024

To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code CY124 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 03/14/24, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Amber Kong is a content specialist at CreditDonkey, a credit card comparison and reviews website. Write to Amber Kong at amber.kong@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.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. This site may be compensated through the Advertiser's affiliate programs.

Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Chase. This site may be compensated through the Advertiser's affiliate programs.

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About CreditDonkey
CreditDonkey is a credit card comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

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