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

Chase Business Checking Accounts
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Chase offers variety of checking accounts that gives great benefits to any kind of business either for starters or for those that are already established.

Let’s talk about the best of Chase Business Checking accounts and what they offer to your business.  

Chase Business Checking Accounts Overview

Here are the benefits offered to you and your business by Chase business checking accounts.

  • Chase Online Banking: Chase allows you to control both your personal, business, bank accounts and credit card online with just a single ID.
  • Chase Mobile Banking: this particular technological feature the ‘’Chase app’’ gives you the liberty to control your accounts with your mobile phone, website and text.
  • Gives you access to 16,000 ATMs and approx. 4,700 Chase branches.
  • 24/7 customer care service for your complaints and enquires.

To open a Chase account you have to visit their branch with the required documents. If you have a checking account with another bank Chase will simply switch your details and that makes it even easier for you.

How to Access Chase Business Checking Information

Here is how to check info about Chase Business Checking Accounts.

  1. Visit www.chase.com and click on the menu then navigate to open account.
  2. Choose Chase for Business and select Business Checking.

It’s that easy.

Types of Chase Business Checking Accounts

Here are business checking accounts by Chase determined by your kind of business.

  1. Chase Platinum Business Checking and
  2. Chase Performance Business Checking

1. Chase Business Complete Banking 

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

Benefits

  1. Chase Business Complete Banking has a zero minimum deposit.
  2. Chase business checking allows new customers to earn $300 when they create a new account and perform the approved activities on the account.
  3. When you maintain a minimum daily balance or buy a Chase ink Business credit card you stand a chance to waive all your maintenance fees.
  4. Easy access to funds any time and fair pricing with Chase QuickAccept if you operate a chase complete banking account.
  5. When you make deposits daily with QuickAccept it has no additional cost for deposits.
  6. Alerts statement, electronic deposits ACH and Chase quick deposits are the benefit you get is an account holder of Chase complete banking.
  7. You can manage your Chase Business account online with their mobile banking app.

Cost for services

Chase Complete Banking

Chase complete business banking has a monthly service fee of $15, but with several ways to waive the service fee.

2.     Chase Performance Business Checking

This kind of account favors medium size scale businesses it has a minimum deposit of $25 for newly opened accounts

Cost for services

This account type has monthly service fee of $30; it can still be waived if you maintain an average daily balance of $35,000 per month

Benefits

  • It offers about 250 free transactions monthly.
  • It offers unlimited electronic deposits.
  • It offers unlimited incoming transactions and two outgoing domestic transfers with no attached fee per statement cycle.
  • Cost free $20,000 cash deposits monthly.
  • Free Positive Pay and Reverse Positive Pay.
  • >>> You may also like: Chase Online Banking Guide – All you need to know

3. Chase Platinum Business Checking

Chase Platinum Business Checking is the best option for large scale businesses

Cost

With a monthly service fee of $95 which is also waived if you maintain an average daily balance of $100,000, for business deposit and business investment accounts, if you operate a premium account it requires you to a minimum deposit of $25 only.

Benefits

  1. It allows you to make 500 free transactions monthly and unlimited liberty to electronic deposits.
  2. No fee for unlimited incoming transfers and four outgoing domestic transfers at a zero fee per statement cycle.
  3. Charge free $25,000 cash deposits monthly.
  4. Zero fees for Positive Pay & Reverse Positive Pay.
  5. It offers a very minimal balance for Chase Private Clients.
  6. It charges no fee within a month for a linked Chase Business Premier Savings account.
Chase Bank Savings Account 2021 Review - Should You Open?

Requirements for Opening a Chase Business Checking Account

1. Sole Proprietorship

For a sole proprietor kind of business you need the following requirements.

  • Trustees, owners, and all authorized signatories must be available during the account opening.
  • Account-holders must have Two forms of ID at least 1 issued by the government i.e. driver’s license or passport.
  • Tax Identification Number or SSN, ITIN for (non-US Citizens), or EIN.
  • Business documentation like an Assumed Name Certificate or Trust Document.
  • Business information like your business address, phone number, where your products or services are usually sold, suppliers’ and vendors’ address, annual sales data, number of employees, and assumed amount of money that will be transacted with your intended account.

3.     Partnership

Requirement for partnership with Chase

  • All authorized signers must be available during the opening of the account.
  • Two forms of ID working ID and one issued by the government e.g. driver’s license or passport.
  • Tax Identification Number (EIN).
  • 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.
  • The partnership agreement or joint venture agreement assumed name certificate, and website validation is also needed.
  •  Other documentation like a Partnership Agreement or Joint Venture Agreement, letter with company letter-headed with the list of all current partners, sometimes the company’s annual sale data is also required.
  • >>> More information: How to Activate a Chase Debit Card: The Ultimate Guide

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 from state to 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 letter-headed or meeting minutes listing the current officers.

4. Limited Liability Company (LLC)

For limited liability companies you will have to meet the requirements

  1. Managers and all members of the company and authorized people’s signatories to the company must be available during opening the account.
  2. The form of identity allowed is the one issued by the government i.e. state-issued driver’s license or international passport.
  3. Tax Identification Number (an Employer Identification Number), but Single-member LLCs can use SSN or ITIN and non-U.S. Citizens can use an ITIN.
  4. Certified Articles of Organization (Certificate of Formation) filed with a state agency.
  5. Website validation
  6. Assumed Name Certificate (varies from state to  state)
  7. 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 data, number of employees, and the anticipated amount of transactions processed through your new account. documentation listing the current members or managers of the LLC may be required.

For more information about requirements, click here to see more requirements

5. Corporation

For a Corporation, you need the company’s President, Secretary or Assistant Secretary during the account opening. For a full list of requirements, click here

Other required documents are;

  1. Two forms of ID are one government ID and a driver’s license or international passport.
  2. Tax Identification Number  Employer’s Identification Number.
  3. Business documentation registered with a state agency.
  4. List of all the current officers of the Corporation. 
  5. Basic Business Information Company’s address, phone number, the locations where your products are sold, the location of suppliers and vendors, annual sales, number of workers, and presumed amount of money that will be transacted with the new account.

Coupons for Opening a Chase Business Account

Chase offers you coupons when your are creating a new account to enable you get as much as $300 back as long as you meet their requirements

Below are some of the requirements:

  1. Make a deposit of $2,000 within 20 business days after opening the account.
  2. Maintain the above account balance for at least 60 days.
  3. Make at least five qualifying transactions within 60 days of opening the account with transactions with your debit card, Chase QuickAccept deposits, Chase QuickDeposit, ACH (Credits).
  4. Your bonus will be deducted if you close your account within the first 6 months.

Chase Business Rewards Cards

When you link your Chase business checking account with a Chase business credit card and make purchases  it helps you boost your point and rewards.

Recommended Chase Cards (Business)

Ink Business Preferred Credit Card – this card comes with about 100000 points bonus for new users when they spend up to $15,000 within 3 months of signing up, the bonus is redeemable through Chase Ultimate Rewards see more benefits here.

This card offers users 3times their bonuses after the first $150,000 spent on travel and 1x on all other purchases, for just a $95 annual fee.

FAQ about Chase Business Checking Account

How much is the minimum deposit for a Chase business checking account?

The Chase Business Complete Checking account, has no minimum deposit required, also for other Chase Checking Accounts minimum deposit varies 

How Do I Open a Chase Business Checking Account?

Chase Business checking account can be opened only at their branch with the required documents

Do I Need a Tax ID Number To Open a Business Checking Account?

Not every time sole proprietors are allowed to use SSN for business account but other kinds of businesses requires tax ID number

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

What is required to create a Chase business checking account varies based on your type of business account.

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