Chase Business Bank Account

chase bank rates offers a range of business banking solutions tailored to small businesses, entrepreneurs, and large corporations alike. Whether you're just starting out or running an established business, having a reliable business bank account is essential for managing finances, streamlining cash flow, and maintaining professional credibility. With over 4,700 branches and 16,000 ATMs across the United States, Chase is one of the largest banks in the country and offers a wide array of business banking products and services.

In this guide, we’ll take a closer look at the different types of Chase business bank accounts, their features, how to open one, and what you need to consider before choosing Chase for your business banking needs.

Types of Chase Business Bank Accounts

Chase offers several types of business accounts, each with its own set of features to fit various business needs. The primary business accounts offered by Chase are:

1. Chase Business Complete Banking®

This is one of Chase's most popular accounts, designed for small businesses that need a straightforward and affordable option for their day-to-day banking. It’s perfect for entrepreneurs and business owners who handle moderate transaction volumes.

Key Features:

• Monthly Fee: $15, which can be waived by meeting one of the following criteria:

  • Maintain a minimum daily balance of $2,000 in the account

  • Link a qualifying Chase Ink® Business credit card or a Chase Private Client account

  • Deposit at least $2,000 in new money each month

• Transactions: 100 free transactions per month; $0.40 per transaction after the 100th

• ATM Access: Free access to 16,000 ATMs nationwide

• Online & Mobile Banking: Includes 24/7 online and mobile banking, bill pay, and the Chase mobile app for easy account management

• Chase QuickAccept®: Accept credit card payments with a mobile card reader, which is included for no extra cost

This account is ideal for businesses that need basic banking services, including the ability to deposit checks, transfer funds, pay bills, and accept card payments.

2. Chase Performance Business Checking®

For businesses that have a higher volume of transactions or need more advanced features, the Chase Performance Business Checking® account offers additional perks and flexibility.

Key Features:

• Monthly Fee: $30, which can be waived by meeting one of the following:

  • Maintain a minimum daily balance of $35,000 in the account

  • Have a combined balance of $35,000 across linked business accounts

• Transactions: 250 free transactions per month; $0.40 per transaction after the 250th

• ATM Access: Free access to 16,000 ATMs nationwide

• Online & Mobile Banking: Includes robust online banking tools, mobile banking, and fraud protection features

• Chase QuickAccept®: Mobile card payment acceptance included

• Additional Services: More advanced services such as the ability to link multiple accounts, additional check writing features, and the option to add a business credit line

The Chase Performance Business Checking® account is a great option for businesses that need more flexibility with their transactions and want the benefits of higher balance requirements, more transactions, and enhanced online banking features.

3. Chase Platinum Business Checking®

The Chase Platinum Business Checking® account is tailored for larger businesses or those with substantial transaction volumes, offering the most advanced features of all Chase business accounts.

Key Features:

• Monthly Fee: $95, which can be waived by maintaining a minimum daily balance of $100,000 in the account

• Transactions: 500 free transactions per month; $0.40 per transaction after the 500th

• ATM Access: Free access to 16,000 ATMs nationwide

• Online & Mobile Banking: Includes advanced online banking tools, bill pay, cash management services, and customizable banking solutions

• Chase QuickAccept®: Included for mobile payments

• Additional Services: Access to treasury services, customized fraud prevention solutions, and the ability to manage multiple business accounts seamlessly

The Chase Platinum Business Checking® account is suited for larger businesses with a high volume of transactions, particularly those that require specialized services like cash management or custom fraud protection.

Chase Business Savings Accounts

In addition to checking accounts, Chase also offers business savings accounts that can help you set aside funds for future needs, earn interest, and grow your business’s savings over time.

1. Chase Business Complete Savings®

This savings account pairs well with a Chase Business Complete Banking® checking account, providing an easy way for businesses to save money and earn interest.

Key Features:

• Monthly Fee: $5, which can be waived by maintaining a minimum daily balance of $300

• Interest Rates: Earn interest on your balance, though the rates may vary depending on your account balance

• Transactions: Up to 6 withdrawals or transfers per month, in line with federal limits on savings accounts

• Linking to Checking Account: Easily link your savings account to a Chase Business Complete Banking® checking account for easy transfers

This account is ideal for businesses that want to put their funds in a low-maintenance savings account while still earning interest.

How to Open a Chase Business Bank Account

Opening a business bank account with Chase is simple, and you can get started in person or online. Here’s how to open a Chase business account:

1. Prepare the Necessary Documents

Before heading to the bank or applying online, you’ll need to gather some basic business documents. Chase requires the following for most business types:

• Employer Identification Number (EIN) or Social Security Number (for sole proprietors)

• Personal identification (e.g., driver’s license, passport)

• Business formation documents (e.g., articles of incorporation, partnership agreement, or LLC operating agreement)

• Operating agreements or partnership agreements (for LLCs and partnerships)

• Proof of address (e.g., utility bill, lease agreement)

2. Apply Online or In-Person

• Online Application: You can apply online for most Chase business accounts. Visit Chase’s business banking website, choose the account type that suits your needs, and follow the step-by-step instructions.

• In-Person: If you prefer, you can open your business account in person at your local Chase branch. A banking representative will help you choose the right account and walk you through the process.

3. Fund Your Account

After your application is approved, you’ll need to fund your account. The minimum deposit requirement will vary depending on the account type, but it’s usually low or zero for the business checking accounts. Some accounts may require an initial deposit of $25 or $100.

4. Start Using Your Account

Once your account is funded, you can start using it immediately. Chase provides access to a wide range of banking tools, including online and mobile banking, debit cards, checks, and additional business services.

Fees and Charges

Each Chase business account has different fee structures based on the account type and usage. Most accounts have monthly maintenance fees, but these fees can often be waived by maintaining a minimum balance or meeting other requirements.

Some common fees associated with Chase business accounts include:

• Monthly maintenance fee (waivable with minimum balance)

• Excess transaction fees (for transactions over the monthly limit)

• ATM fees (for using non-Chase ATMs)

• Wire transfer fees (both domestic and international)

Always review the fee schedule for your specific account to avoid unexpected charges.

Additional Chase Business Services

In addition to basic checking and savings accounts, Chase offers a suite of additional business banking products to help you grow and manage your business. These include:

• Chase Ink® Business Credit Cards: Business credit cards offering rewards and perks.

• Merchant Services: Payment processing solutions for businesses that need to accept credit card payments in-store or online.

• Business Loans: Access to business loans, lines of credit, and other financing options.

• Chase Paymentech®: A service for businesses to accept online payments securely.

• Chase QuickAccept®: A mobile payment solution for small businesses, allowing you to accept payments directly through your phone.

Conclusion

A Chase business bank account provides a variety of services designed to meet the needs of businesses of all sizes. Whether you're a freelancer, a startup, or an established corporation, Chase offers competitive business checking and savings accounts, as well as a suite of additional tools to help manage your finances.