Rebecca Lake is a certified educator in personal finance (CEPF) and a banking expert. She's been writing about personal finance since 2014, and her work has appeared in numerous publications online. Beyond banking, her expertise covers credit and deb.
Rebecca Lake Banking ExpertRebecca Lake is a certified educator in personal finance (CEPF) and a banking expert. She's been writing about personal finance since 2014, and her work has appeared in numerous publications online. Beyond banking, her expertise covers credit and deb.
Written By Rebecca Lake Banking ExpertRebecca Lake is a certified educator in personal finance (CEPF) and a banking expert. She's been writing about personal finance since 2014, and her work has appeared in numerous publications online. Beyond banking, her expertise covers credit and deb.
Rebecca Lake Banking ExpertRebecca Lake is a certified educator in personal finance (CEPF) and a banking expert. She's been writing about personal finance since 2014, and her work has appeared in numerous publications online. Beyond banking, her expertise covers credit and deb.
Banking Expert Thomas Blake Banking WriterTom Blake is a full-time finance writer and blogger who specializes in covering the banking industry, side hustles and ways to make and save more money. His work has been featured in publications like Money Crashers, The College Investor, Moneywise a.
Thomas Blake Banking WriterTom Blake is a full-time finance writer and blogger who specializes in covering the banking industry, side hustles and ways to make and save more money. His work has been featured in publications like Money Crashers, The College Investor, Moneywise a.
Written By Thomas Blake Banking WriterTom Blake is a full-time finance writer and blogger who specializes in covering the banking industry, side hustles and ways to make and save more money. His work has been featured in publications like Money Crashers, The College Investor, Moneywise a.
Thomas Blake Banking WriterTom Blake is a full-time finance writer and blogger who specializes in covering the banking industry, side hustles and ways to make and save more money. His work has been featured in publications like Money Crashers, The College Investor, Moneywise a.
Banking Writer Lauren Graves Banking EditorLauren Graves is an educator-turned-editor specializing in personal finance content. She seeks to make complicated topics easier to understand and less intimidating to the average reader with accurate, reliable information and transparent writing. He.
Lauren Graves Banking EditorLauren Graves is an educator-turned-editor specializing in personal finance content. She seeks to make complicated topics easier to understand and less intimidating to the average reader with accurate, reliable information and transparent writing. He.
Lauren Graves Banking EditorLauren Graves is an educator-turned-editor specializing in personal finance content. She seeks to make complicated topics easier to understand and less intimidating to the average reader with accurate, reliable information and transparent writing. He.
Lauren Graves Banking EditorLauren Graves is an educator-turned-editor specializing in personal finance content. She seeks to make complicated topics easier to understand and less intimidating to the average reader with accurate, reliable information and transparent writing. He.
Updated: Apr 4, 2024, 6:13pm
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Chase Bank, the largest U.S. bank by assets, offers numerous banking products and services that can make running your small business easier. Chase Business Complete Banking, Chase Performance Business Checking and Chase Platinum Business Checking offer different payment solutions, features and deposit and transaction limits for businesses of various sizes.
This variety makes Chase worth considering whether you’re running a large, established business or looking for your first small business checking account. However, these accounts are best for businesses with high balances that can qualify to have the monthly fees waived. Here’s a closer look at what Chase business checking accounts have to offer. Account details and fees are accurate as of April 4, 2024.
Our ratings are calculated based on fees, rates, rewards and other category-specific attributes. All ratings are determined solely by our editorial team.
ATM Network Annual Percentage YieldMonthly maintenance fees, cash deposit fees, transaction fees, wire transfer fees, out-of-network ATM fees and overdraft fees
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Chase business checking is best for business owners who deal with high cash deposit amounts and process many transactions each month. It’s also ideal for account holders with larger balances, which are needed to easily waive the account’s steep monthly fees and make the most of its features. The fact that Chase is a full-service bank with a nationwide branch network may be another selling point for small business owners, especially those expanding quickly.
Business owners considering this bank should know that Chase welcome bonuses and promotions are often available for business checking. But if your business doesn’t need unlimited transactions and can’t meet requirements to avoid fees, other accounts may be better.
Forbes Advisor looks at several factors to review and rate banks, including features and benefits, service fees, interest rates and ATM access. We assign separate ratings to financial institutions and their product offerings, such as checking accounts, savings accounts and CDs. Banks and accounts are rated on a scale of one to five stars, with one star being the lowest score possible and five stars being the highest.
To learn more about our rating and review methodology and editorial process, check out our guide on How Forbes Advisor Reviews Banks.
Chase Business Complete Banking is a business checking account that integrates with Chase QuickAccept. This feature allows you to accept card payments from customers or clients directly to your bank account with same-day deposits. You’ll pay the following fees when processing credit card payments:
Aside from Chase QuickAccept processing fees, the Business Complete Banking account has a monthly maintenance fee. Ordinarily, this fee is $15, but you can reduce it to $0 by meeting one of the following conditions each monthly statement period:
Chase Business Complete Banking—and other business bank accounts from Chase—allow you to send and receive money via Chase QuickDeposit, wire transfer and Chase Online Bill Pay. Enrollment in Chase QuickDeposit is subject to approval. If you get the green light, you’re required to sign a two-year contract for a check scanner. You’ll pay a $25 monthly fee for a single-feed scanner or a $50 fee for a multiple-feed scanner.
In terms of other fees you may pay, there’s no fee for the first 20 deposits and withdrawals made with a teller or by paper check. After that, you’ll pay $0.40 for each additional transaction. This account allows for unlimited debit and ATM transactions and up to $5,000 in free cash deposits per month.
This account includes a debit card for the account holder, and Business Associate Debit Cards and Business Employee Deposit Cards are available upon request with no additional fees.
In addition to Business Complete Banking, you can also choose the Chase Performance Business Checking® or Chase Platinum Business Checking℠ account. In terms of how these accounts compare with the regular Business Complete Banking option, the biggest differences lie in the fees and features.
Performance Business Checking has a $30 monthly service fee, while the Platinum Business Checking account has a $95 monthly fee. These can be waived by maintaining a minimum daily balance of $35,000 or $100,000, respectively, in your business deposit accounts with Chase. Alternatively, you can meet different deposit and activity minimums to avoid the fees.
Another key difference is that only Chase Business Complete Banking offers QuickAccept. Performance and Platinum business checking accounts do provide merchant services, but not the speedy point-of-sale solution provided with Business Complete bank accounts.
Chase offers two business savings accounts for earning interest on your deposits, both with waivable monthly fees.
Given the rock-bottom APYs on these savings accounts, competitors like Bluevine, EverBank and American Express® will be more appealing for interest-bearing business bank accounts.
Chase also offers business certificates of deposit (CDs) that earn fixed interest in a federally insured account. There’s a minimum $1,000 deposit required to open a CD, and terms range from one month to 10 years. Currently, the Chase Business Certificates of Deposit rates are from 0.02% to 5.00% depending on the CD term, deposit amount and whether you qualify for relationship rates with linked business checking. Overall, Chase business CDs are more competitive than what many big banks offer and a little less prohibitive, with many terms earning the same APY on all balances.
You won’t pay monthly fees for any Chase business CD, but there are early withdrawal penalties for withdrawing principal prior to the maturity date. This penalty is equal to $25 plus an additional 1% or 3% of the amount withdrawn, with the higher fee charged on longer terms.
There are 10 different Chase business credit cards (including co-branded cards) to choose from for earning everyday and travel rewards on business spending. Some cards charge annual fees between $95 and $450, while others have no annual fee. Different cards reward cash back, points, miles or hotel rewards. Some of the best business credit cards from Chase are the Ink Business Premier® Credit Card and the Ink Business Preferred® Credit Card, which offer high rewards rates and frequent welcome bonuses.
