Guide to Chase Business Checking Accounts [Complete, Performance, Platinum]

Chase Business Checking Accounts

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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.

Chase Business Checking Accounts Overview

There are many benefits offered by all Chase business checking accounts.

  • Chase Mobile® Banking: This feature allows you to access your Chase accounts anytime, anywhere through the Chase app, the mobile website, or even through text.
  • Chase OnlineSM Banking: You can manage your personal and business Chase accounts including bank accounts and credit cards online with a single user ID.
  • Access to 16,000 ATMs and nearly 4,700 Chase branches
  • Debit cards
  • 24/7 customer service
Chase mobile banking
Chase mobile banking is one of the many features available on all Chase business checking accounts. Image Credit: Chase

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.

How to Access Chase Business Checking Information

There are 2 ways to access more information about Chase Business checking accounts.

  1. Go to chase.com and click on the drop-down menu under Open an Account. Select Chase for Business, then select Business Checking.
  2. Go directly to chase.com/business and select Business Checking.
Chase For Business
Visit chase.com/business for more information about their business checking accounts. Image Credit: Chase

Types of 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 Business Complete BankingSM
  • Chase Performance Business Checking
  • Chase Platinum Business Checking

1. Chase Business Complete Banking (Most Popular)

Chase recently launched the Chase Business Complete Banking which has no minimum deposit to open an account.

Benefits

  • Limited Time Offer: Earn $300 when you open a new Chase Business Complete Checking account. For new Chase business checking customers with qualifying activities.
  • More ways to waive fees. Multiple options to waive the Monthly Service Fee, including maintaining a minimum daily balance or purchases on your Chase Ink Business credit card
  • Convenient access to payment processing. Accept card payments virtually anytime and anywhere, with QuickAccept.
  • Same-day deposits with QuickAccept. Free up the cash you need to keep your business moving forward at no additional cost.
  • Alerts to help you stay on top of your account activity.
  • Easy account management through Chase Business online and the Chase Mobile® app.
  • Unlimited electronic deposits, ACH and Chase Quick DepositSM.
  • Convenient access to 16,000 ATMs and more than 4,700 branches.

Cost

There is a monthly service fee of $15 with ways to have this fee waived.

2. Chase Performance Business Checking (Mid-Size Businesses)

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.

Cost

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.

Benefits

  • 250 free transactions each month.
  • Unlimited electronic deposits.
  • Unlimited incoming wires plus 2 outgoing domestic wires with no fee per statement cycle.
  • No fee for up to $20,000 in cash deposits each month.
  • No charge for Positive Pay and Reverse Positive Pay.

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. 

3. Chase Platinum Business Checking (Large Businesses)

Designed for large businesses, the Chase Platinum Business Checking account has the largest monthly fee but has the greatest benefits.

Cost

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.

Benefits

  • 500 free transactions each month.
  • Unlimited electronic deposits.
  • Unlimited incoming wires plus 4 outgoing domestic wires with no fee per statement cycle.
  • No fee for up to $25,000 in cash deposits each month.
  • No charge for Positive Pay and Reverse Positive Pay
  • Reduced balance requirement for Chase Private Clients
  • Monthly service fee waived on a linked Chase Business Premier SavingsSM account

Bottom Line: Chase offers different business checking accounts: Chase Business Complete Banking, Chase Performance Business Checking, and Chase Platinum Business Checking.

Requirements for Opening a Chase Business Checking Account

Chase business checking account requirements vary based on the type of business you have.

1. Sole Proprietorship

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.

  • Two forms of ID including at least 1 issued by the government such as a state-issued driver’s license or passport.
  • Tax Identification Number or Social Security number, ITIN (non-US Citizens), or Employer Identification Number (EIN).
  • Business documentation, which may include an Assumed Name Certificate or Trust Documentation. These requirements vary by state.
  • Certain information about your business will be requested at account opening and will include your business address and phone number, number of locations, where your products or services are sold, the location of suppliers and vendors, annual sales, number of employees, and the anticipated amount of transactions processed through your new account.

2. Partnership

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.

  • Two forms of ID including at least one issued by the government such as a state-issued driver’s license or passport.
  • Tax Identification Number (your Employer Identification Number).
  • Partnership agreement or joint venture agreement, assumed name certificate, plus website validation.
  • Basic business information including business address and phone number, number of locations, where your products or services are sold, the location of suppliers and vendors, annual sales, number of employees, and anticipated amount of transactions processed through your new account.
  • Supplemental documentation including an amendment to the Partnership Agreement or Joint Venture Agreement, letter on company letterhead listing the current general partners, or an annual report may be requested.

3. Unincorporated Business Association or Organization

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.

  • Two forms of ID including at least 1 issued by the government such as a state-issued driver’s license or passport.
  • Tax Identification Number (your Employer Identification Number).
  • If the organization or association is using its own EIN, requirements will include articles of association, a charter document validating existence, and IRS Confirmation of EIN issuance.
  • If the organization or association is using the EIN of a national or regional organization, a letter of authorization from the national or regional office is required.
  • Assumed Name Certificate (varies by state)
  • Basic business information including business address and phone number, number of locations, where your products or services are sold, the location of suppliers and vendors, annual sales, number of employees, and anticipated amount of transactions processed through your new account.
  • Supplemental documentation may be required including a letter on organization or association letterhead or meeting minutes listing the current officers.

4. Limited Liability Company (LLC)

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.

  • Two forms of ID including at least 1 issued by the government such as a state-issued driver’s license or passport.
  • Tax Identification Number (your Employer Identification Number). Single-member LLCs can use their SSN or ITIN and non-U.S. Citizens can use an ITIN.
  • Certified Articles of Organization (Certificate of Formation) filed with a state agency.
  • Website validation
  • Assumed Name Certificate (varies by state)
  • Basic business information including business address and phone number, number of locations, where your products or services are sold, the location of suppliers and vendors, annual sales, number of employees, and anticipated amount of transactions processed through your new account.
  • Documentation listing the current members or managers of the LLC may be required.

5. Corporation

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.

  • Two forms of ID including at least 1 issued by the government such as a state-issued driver’s license or passport.
  • Tax Identification Number (your Employer Identification Number).
  • Business documentation filed with a state agency: Certified Articles of Incorporation, Website Validation, Active Status Verification.
  • Assumed Name Certificate (varies by state)
  • Documentation listing the current officers of the Corporation (such as a letter on company letterhead, meeting minutes, or annual report) may be required.
  • Basic business information including business address and phone number, number of locations, where your products or services are sold, the location of suppliers and vendors, annual sales, number of employees, and anticipated amount of transactions processed through your new account.
  • Additional information from owners, shareholders, and individuals holding key roles may be required.

Bottom Line: The documentation needed to open a Chase business checking account varies based on the type of business you have.

Coupons for Opening a Chase Business 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:

  • Deposit a total of $2,000 in new money within 20 business days of account opening
  • Maintain that balance for at least 60 days from the initial deposit
  • Complete 5 qualifying transactions within 60 days of account opening. Qualifying transactions include debit card purchases, Chase QuickAccept deposits, Chase QuickDeposit, ACH (Credits), wires (Credits and Debits).

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.

Chase Business Rewards Cards

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)

Ink Business Preferred® Credit Card - this is our #1 recommended business card and right now comes with a 100,000 sign up bonus after you spend $15,000 on purchases in the first 3 months after account opening. This bonus is worth $1,250 when you redeem through Chase Ultimate Rewards for travel purchases (flights, hotels etc). Pay your cell phone bill with this card to receive up to $600 in cell phone insurance coverage per year; as well as a number of other benefits.

Earn 3x on the first $150,000 spent on travel and select business categories each account anniversary year, plus 1x on all other purchases — with no limit to the amount you can earn. All for an annual fee of $95.
Ink Business Cash® Credit Card - Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening

This no annual fee business card earns up to 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, plus 2% cash-back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary.
Ink Business Unlimited® Credit Card - earn unlimited 1.5% cash back rewards on every purchase made for your business.

Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening. There's no annual fee.

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.

Final Thoughts

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.


Frequently asked questions

How Much Does it Cost to Start a Business Checking Account At Chase?

The minimum deposit to start a Chase business checking account is only $25. The monthly service fees range from $15-$95, but these are often waived if you meet a set of requirements such as average minimum balance.

How Do I Open a Chase Business Checking Account?

You will need to go into one of Chase’s 5,000+ branches with the appropriate documentation to open a Chase Business checking account.

Do I Need a Tax ID Number To Open a 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.

Can I Use a Personal Account For my Business?

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.

What Type of Documentation do I Need to Open a Business Checking Account With Chase?

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:

Katie Seemann

About Katie Seemann

Katie is an Ohio native who caught the travel bug after spending a semester in college in Nottingham, England. In addition to exploring England, she visited Ireland, Scotland and the Netherlands during that time and loved every minute of it (everything except the hostel in Scotland – that’s an experience she doesn’t intend on repeating!) In 2015, Katie discovered the world of points and miles, and since then she’s earned countless points and has an embarrassingly large number of credit cards in her wallet (which she needs a spreadsheet to keep track of!)

Disclaimer: Any comments listed below are not from the bank advertiser, nor have they been reviewed or approved by them. No responsibility will be taken by the bank advertiser for these comments.

2 comments

  1. Jill Green March 22, 2019

    I live in Washington State and am trying to understand why you want to designate the treasurer of my nonprofit organization as an “acting secretary?” The Washington State Handbook for Nonprofits makes no mention of an acting secretary. They do mention treasurer. Please help me to understand this so I can explain it to other members of our board.

    Reply

    • Hello Jill. Please be advised that we are not Chase bank. We are Upgraded Points, a blog specializing in travel and credit card-related resources. You should contact Chase directly with your issue.

      Reply

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