Chase Business Checking Review

Summary of our opinion

Don’t have time to read it all? Here is a summary of our opinion on Chase, to help you understand whether Chase is a good choice for you or not!

Chase offers over 5,000 branches and 17,000 ATMs nationwide, the largest network of bank branches of any institution in the U.S.

The bank enables instant P2P payment solutions by integrating with Zelle, which makes it simple to send money to customers or other businesses in real time.

Additionally, the bank provides wire transfer fees that are affordable, regardless of whether the wire is being received in a domestic or international location.

In summary, Chase brings a lot of great features and control including the ability to use your account from the mobile app and the option to take out multiple debit cards for owners and employees. Chase QuickAccept is also a major plus also for merchants that accept payments outside of a brick-and-mortar store.

For a full in-depth review, the following is our opinion of Chase in detail.

Chase fees

Fees and features

Here is a summary table of Chase’s main pricing plans. Chase provides a variety of services to meet the needs of small, medium, and big enterprises and gives customers the choice to pick from three different product packages.

The Chase Business Complete Banking account is best suited for companies that complete twenty or fewer transactions on a monthly basis or less.

In contrast, the Chase Performance Business Checking account and the Chase Platinum Business Checking account each permit as many as two hundred fifty and five hundred fifty fee-free monthly transactions.

The Chase Business Complete Banking SM is the company’s basic business checking account which offers basic features and is the easiest way to avoid the monthly fees.

The Platinum Business Checking account holders however have to maintain a $100,000 balance to avoid fees, meaning the Platinum is designed primarily for bigger firms.

	Business Complete Banking	Performance Business Checking	Platinum Business Checking
Monthly fees	$15	$30 if min. balance not maintained	$95 if min. balance not maintained
Free transactions	20	250	500
Additional transactions	$0.40 each	$0.40 each	$0.40 each
Opening deposit	0	0	0
Minimum balance	$0	$35,000	$100,000
Overdraft fee	$34 fee for each item (maximum of 6 overdraft fees per day, for a total of $204), waived under certain conditions	.	.
Free cash deposits	Up to $5k	Up to $20k	Up to $25k
Annual Percentage Yield (APY)	N/A	Variable	N/A
Cash Deposit Fee	$2.50 per $1,0	$2.50 per $1,000	$2.50 per $1,000
ATM Fee	0	0	0
Support	Assistance is available 24/7	.	.

The in-branch services plus internet access provided by Chase, both via their website and their mobile app, are consistent across all three accounts.

You might also connect these accounts to certain other Chase accounts, such as savings accounts and credit cards issued by Chase, in order to have all of the financial aspects of your company brought together in one place.

Our opinion on the monthly cost

It is vital to take the time to fully comprehend the fees because otherwise, you may be struck with expenditures that are absolutely unnecessary.

Chase provides a basic fee structure that is cheap for checking or savings account users. However, it is worth taking some time to study the prices which include:

• Monthly Service Fee for Checking Ranging from $15 to $95, size dependant
• The monthly fee for the savings service is $5.
• After the initial $5,000 per month, the fee for making cash deposits is $2.50 per $1,000.
• When you take money from your savings, there is a monthly fee of $5.
• Transaction fees: After the first transaction, a transaction fee of $0.40 will be assessed, with a maximum of between 100 and 500 each month depending on the kind of account.
• Using an ATM that is not part of your network will cost you $2.50 each time.
• Incoming and outgoing domestic wire fees are $15 and $40 respectively.

In our opinion, the Chase Business Complete Checking’s $15 price per month is a lot for an SMB to pay for, given the range of free or competitively priced business banking alternatives.

In a similar vein, the Chase business checking account allows for an unlimited number of electronic deposits, but only twenty in-person transactions each month are free of charge.

In contrast, the Chase Performance Business checking account, which is Chase’s midrange business checking account, allows for 250 fee-free transactions each and every month.

It’s possible that the company full checking account won’t fulfill all of your requirements if you want to routinely write paper checks or make deposits at the teller window.

Our opinion of the other fees

The Chase Business Complete Checking account allows for up to $5,000 in cash deposits per month to be made without incurring any fees. However, this perk is only available to Chase customers.

After that first $5,000, the price for each additional $1,000 that you deposit is $2.50.

This low threshold may provide a problem for your company if it relies heavily on cash transactions for its day-to-day operations, particularly if you are often required to pay excess fees of $2.50.

Who can use Chase?

You’ll need your business formation documents, some form of personal ID, your Employer Identification Number (EIN), and paperwork showing your doing business as (DBA) name if you have one. 

The Chase Business Complete Banking account doesn’t require you to add a certain amount of money to open the account.

Means of payment

Regarding payment methods, Chase mainly offers the following:

Payment	Features offered?
Debit card	Visa
Check	Yes
Wire transfers	Yes
ACH transfers	Yes
International wires	Yes, fee $40

The question of means of payment remains the same as for other financial institutions: Will your business be satisfied with these means of payment. This is a decision each individual business owner will have to make. If the answer is no, you can always consider an alternative business bank. 

Up to 250 complimentary transactions each month and limitless deposits, including inbound wire transfers, are among the transaction limitations offered by the Chase Performance Business Checking account, which is designed specifically with medium-sized SMBs in mind.

The transaction limit does not include outbound wire transfers; however, the account does provide a total of two free wire transactions in each direction. When the limit is exceeded, the transaction cost increases to $0.40.

Means of collection

The means of collection are the basics of any financial institution. Chase customers can conduct wire transfers, generally the fastest method to transfer funds electronically. 

Payment	Features offered?
Check	Yes
Wire transfers	Yes
ACH transfers	Yes
QuickAccept	Yes
International wires	Yes

The Business Complete checking account offered by Chase serves both as a checking account and as a point-of-sale solution for businesses.

With Chase QuickAccept, owners of small businesses may take payments by credit card in person or over the phone, and they also have the convenience of managing transactions across numerous devices while only needing to remember one password.

Transfers

Customers can quickly transfer funds in and out of your checking account from accounts at using QuickPay with Zelle. 

Payment terminals

Merchants that need to collect payments in-person, online, or over the phone may take advantage of the myriad of services and solutions that Chase offers under the banner of its Chase Payment Solutions brand.

When doing business in person, retailers have the option of selecting from a variety of point-of-sale (POS) configurations, including pay-at-the-table, mobile, and terminal sales.

Chase provides technologies, like as virtual terminals and e-commerce portals, to facilitate transactions conducted remotely.

If you want more information about these options, including whether or not they need longer-term contracts and whether or not they come with any equipment and maintenance expenses.

Services and features offered by Chase

Chase offers a bank account focused around features dedicated to small businesses and professionals. These offers are exactly what have made Chase stand out from the competition.

A quality business bank account

Chase has one of the largest branch networks in the nation as well as user-friendly online and mobile account management tools. The app is easy to use and has a sleek interface. 

You can accomplish almost any task you need to through the app, including transferring money between accounts, paying bills, setting up automatic transfers, and accepting client credit card remittance.

A wide range of services for all entrepreneurs

In addition to being an excellent professional bank account, we appreciate the various services and features offered by Chase including:

• Mobile Check Deposit with Chase’s User-Friendly QuickDeposit Service Business owners who don’t operate within arm’s access of a local Chase branch or ATM may benefit greatly from Chase’s user-friendly digital check deposit tool.
• It is simple to avoid paying monthly fees.
• Free Access to a Network Comprising Over 4,700 Locations

Transactions

There are different restrictions on teller transactions and paper transactions, but electronic transactions are limitless with each Chase Business account. These are the restrictions that apply to each account:

• Unlimited electronic transactions, 20 teller or paper transactions, and $5,000 in fee-free cash deposits are included in the Chase Business Complete Banking package.
• The Chase Performance Business Checking account has an unlimited number of digital transactions, 250 offline transactions, and $20k in zero fee cash deposits.
• Unlimited electronic transactions, 500 teller/paper transactions, and $25k in fee-free deposit accounts come included with the Chase Platinum Business Checking account.

Online banking tools and integrations

Customers can check in on their balance, transfer funds, pay bills and handle other self-service banking needs for all of your Chase accounts with just one login and it integrates with most major small business accounting software packages.

Chase’s feature-filled app includes the ability to deposit checks and do most everything else you need from an online bank whilst you can also give other members of your business access to your business accounts and set limits on what each user can do.

Online bill payment

Chase provides a variety of choices for customers who are making or receiving payments. The online billing service offered by Chase offers a few features tailored specifically to the needs of businesses.

These capabilities make it simple to monitor the status of your payments as well as your invoices, ensuring that you will never miss a payment deadline.

In addition, the corporation provides a guarantee for online bill payments, which states that Chase assures that your payment systems will always come at the time that they are due to arrive.

In the event that a mistake on the part of Chase leads you to skip a payment deadline and be charged a late fee as a result, Chase will cover the cost of the fee.

Point of sale systems

Chase also offers a very good point of sale solution that you can use with any of its business checking accounts. The Chase QuickAccept tool lets you accept both credit card and debit card payments with an easy-to-understand fee structure and same-day deposits of the payments you receive.

You can install the app on your phone or tablet, which means you don’t have to buy any additional equipment to accept payments for your business.

Signup bonus

Chase Business Complete Checking stands out with a $300 sign-up bonus and access to Chase QuickAccept, which can be used to accept credit card payments on the go. 

A useful mobile application

Checking customers have access to Chase’s mobile app, which allows them to make mobile check deposits and perform other daily transactions as needed. Small business owners can manage their finances and cash flow from anywhere by using the app.

Open a Chase account

Opening a Chase bank account is very simple. Start by going to the official website, and follow the instructions. You will need to provide some information related to the company in order to complete the procedure (which only takes a few minutes).

At a minimum, you’ll need to provide the following information:

• Business formation documents: LLC banking resolution, employer identification number (EIN), and Articles of Organization and government-issued identification

Generally, applications are reviewed within 24 hours; however, the process may take anywhere from 3 – 5 business days. After you receive approval from Chase, you’ll need to accept the account agreement and then you’ll be able to fund and access your account.

Customer Service and Support

Chase Customer Support is available 24 hours a day, 7 days a week and customers can call 1-800-242-7338 or If you would prefer not talk to a person on a call, you may always send a private message via the portal that is associated with your account, no matter what time of day it is.

Additionally, chat help may be accessed via the company’s Twitter account weekdays between the hours of 7 am and 11 pm (EST) and weekends between 10 am and 7 pm (EST).

You may also submit requests for assistance to Chase through the mail, and if you prefer to talk with a banker in person, you can go to any of their branches.

Chase: Customer reviews

Per this review update, Chase had more than 1,020 reviews on Trustpilot, for an average rating of 1.3/5. The positive reviews tended to focus on Chase’s smartphone app and also customer service. 

Others commented on using Chase for both business and personal accounts with wires and transfers very really easy to send. 

When looking through the negative reviews, there are two things to notice. Many negative reviews complain about poor customer service and difficulties accessing the $300 offer for opening a business checking account. It’s difficult for us to judge the reality of these reviews and if customers respected the Chase general conditions regarding the offer.

Chase: Overall verdict

The Chase Complete Checking account is a wonderful option to consider if you are looking for a business checking account that meets your needs and has the potential to expand along with your company.

The pricing structure for the account is fair, and it is simple to prevent being charged for the monthly maintenance fee.

Because opening the account gives you access to a variety of additional services, such as loans and credit cards that your company may find useful, it is simple to suggest that you give the account a go.

Chase offers a professional bank account underpinned by their:

• Low monthly service cost, easily waived if you fulfill one of the conditions
• Easy access to internet, mobile, and high street banking, in addition to a large ATM network
• Mobile and internet banking with simple user interfaces

On the other hand, if you write a significant number of checks or see the teller regularly, transaction fees can quickly pile up. If you can get past this, Chase is the game for you.