Edited by: Keri Stooksbury
& Kellie Jez
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We all know how great Chase business credit cards are, but what about their banking services? If you’re in search of a great checking account for your business, see how Chase stacks up.
Chase offers a few different checking accounts for businesses, ranging from one that’s great for small companies to one that’s better for a large established business.
This post will explain everything you need to know, including account benefits and any associated fees, as you decide which Chase business checking account is the best fit for your business.
There are many benefits offered by all Chase business checking accounts.
To open an account, you will need to visit a Chase branch with all required documentation (see below). You can easily search online for the nearest Chase branch. If you have a current business checking account at another bank, Chase makes it easy to switch by offering a step-by-step guide to help you along the way.
There are 2 ways to access more information about Chase Business checking accounts.
There are a few distinct business checking accounts offered by Chase. The size of your business will be a big factor in determining which account is right for you.
Chase recently launched the Chase Business Complete Banking which has no minimum deposit to open an account. Customers have the option to open their account online or in-branch.
There are some fees associated with a Chase Business Complete Checking account:
This type of business checking will appeal to mid-size businesses that aren’t too big, but not too small (sort of the Goldilocks of Chase business checking accounts!). There is a minimum $25 deposit to open a Chase Performance account.
There is a monthly service fee of $30 that’s waived when you maintain an average daily balance of $35,000 in qualifying business deposit accounts.
Hot Tip: If you’re interested in opening a Chase business savings account along with your Chase business checking account, Chase provides excellent options for that as well.
Designed for large businesses, the Chase Platinum Business Checking account has the largest monthly fee but has the greatest benefits.
There is a monthly service fee of $95 that is waived when you maintain an average daily balance of $100,000 in qualifying business deposit and business investment accounts. Even with this premium account, the required minimum deposit is still only $25.
Chase business checking account requirements vary based on the type of business you have.
If you are a sole proprietor, you’ll need to meet these basic requirements. For a full list of requirements, click here.
All owners, trustees, or agents plus any authorized signers must be present when opening the account.
If you have a partnership, you’ll need to meet these basic requirements. For a full list of requirements, go here.
All general partners in the partnership and any authorized signers must be present when opening the account.
If you have an unincorporated business association or organization, you’ll need to meet these basic requirements. For a full list of requirements, go here.
An authorized representative (either the Secretary or Assistant Secretary) plus any authorized signers must be present when opening the account.
If you have an LLC, you’ll need to meet these basic requirements. For a full list of requirements, click here.
All members or managers of the LLC plus any authorized signers must be present when opening the account.
For a Corporation, you’ll need to meet these basic requirements. For a full list of requirements, click here.
An authorizing representative (President, Secretary, Assistant Secretary, or Acting Secretary) plus any authorized signers must be present when opening the account.
Often, you will be able to find a coupon or special to get a little cash-back for opening a business account. You can receive a $300 bonus when opening a new Chase Business Complete Checking and meet the following requirements:
If your account is closed within the first 6 months, your bonus will be deducted at closing.
You can only receive 1 checking account opening-related bonus per calendar year and only 1 bonus per account.
Hot Tip: Sometimes Chase will offer a cash bonus for opening a business checking account. These usually range from about $200-$500.
If you don’t have one already, there are many great reasons to open a business credit card. For example, pairing your Chase business checking account with a Chase business credit card for all of your business expenses will help you earn valuable points and rewards.
Recommended Chase Cards (Business)
If you’re not sold on any of the Chase business credit cards, there are many other great business credit cards on the market that are worthy of your consideration. If the concept of earning and redeeming points and miles seems a bit too complex — don’t worry! We’ve put together a dedicated ultimate guide to points and miles for business owners to help you hit the ground running.
Chase offers a variety of business checking accounts for any size business.
Whether you’re a sole proprietor or run a huge corporation, there’s a Chase business checking account available to meet your needs.
The information regarding the Chase Private Client was independently collected by Upgraded Points and was not provided nor reviewed by the issuer.
You will need to go into one of Chase’s 5,000+ branches with the appropriate documentation to open a Chase Business checking account.
Not always. If you are a sole proprietor, you can use your Social Security number to open a business account. Other types of businesses will need a tax ID number to open an account.
Technically, yes, but it’s not recommended. Keeping your business and personal expenses separate will help keep your legal liabilities clear and will make things easier when it comes to taxes. Chase allows you to view all of your personal and business accounts with only 1 user ID for added convenience.
The requirements for opening a Chase business checking account will vary based on the type of business you have. Here are links to the full list of requirements for each type of business:
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