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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

Ink Business Cash Credit Card
Apply for Ink Business Cash Credit Card
At Chase's Secure Site
  • Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from 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
  • 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.
  • 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 PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
0% for 12 months
N/A
18.49% - 24.49% Variable
$0

Ink Business Unlimited Credit Card
Apply for Ink Business Unlimited Credit Card
At Chase's Secure Site
  • Earn $900 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 PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
0% for 12 months
N/A
18.49% - 24.49% Variable
$0

Ink Business Preferred Credit Card
Apply for Ink Business Preferred Credit Card
At Chase's Secure Site
  • 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 Ultimate Rewards®
  • 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 Ultimate Rewards®
  • 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 PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
N/AN/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.

References

Chase
Member FDIC

Chase Business Complete Banking® - $300 Bonus

Expires 10/19/2023
  • 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 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® - $200 Bonus

Expires 10/18/2023
  • New Chase checking customers enjoy a $200 bonus when you open a Chase Total Checking® account and set up direct deposit
  • 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 Business Advantage Checking Account - $200 Bonus Offer

Expires 12/31/2023
Earn a cash bonus in three steps:
  1. Open a new eligible business checking account by December 31, 2023
  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
Citibank

Citi Priority - Earn up to $2,000 Cash Bonus

Expires 1/9/2024
  • Earn up to $2,000 when you open a new eligible Citi checking account and enroll in the offer the same day
  • New to Relationship customers can choose their Relationship Tier.
  • Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds.
  • Maintain a minimum balance for 60 consecutive calendar days from the 21st day.
  • If your balance falls to a lower Balance Level at any point during the maintenance period, the bonus changes.
  • Bonus will be paid within 30 days after you successfully complete all required activities.
  • Restrictions apply.
TD Bank
Member FDIC

TD Beyond Checking - $300 Cash Bonus

Expires 10/31/2023
  • New customers who apply online for a TD Beyond Checking account can earn a $300 cash bonus after receiving direct deposits of $2,500 or more within 60 days. To qualify for this offer, you must be a U.S. resident and apply for the offer online. Offer is available in these states: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA
  • Three ways to go monthly maintenance fee-free: Monthly Maintenance fee waived when you set up direct deposits of $5,000 or more within a statement cycle, maintain a $2,500 minimum daily balance, or have a $25,000 combined balance across eligible TD accounts.
  • ATM perks: TD fees waived at any ATM and non-TD fees reimbursed when you keep at least a $2,500 daily balance
  • A little extra time. A lot of extra relief: Avoid fees with Grace Period, which gives you until 11 PM ET the next business day to fix an overdraft. Make sure your available balance is at least $0 by depositing enough to cover the overdrawn balance plus any additional transactions and TD will refund the overdraft fee to your checking account.
  • Fast and secure payments: TD Bank debit cards are backed by the Zero Liability guarantee and 24/7 fraud monitoring
  • Convenient locations with the longest hours around: We have over 1,100 locations from Maine to Florida that's open early, late, and weekends.
  • Get reimbursed for fees including two overdraft fees per year, all Rush Bill Payments, and one outgoing wire per statement cycle (domestic or international).
  • Additional TD Bank checking account perks worth talking about: Get 24/7 access to all your TD accounts with Online & Mobile Banking, plus Bill Pay, Send
  • Money with Zelle®, Mobile Deposit and Online Statements.

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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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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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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