Chase has three strong business checking products for businesses of all sizes. Its lowest-tier business checking product, Business Complete Banking, comes with a low monthly fee, access to digital banking, and built-in card acceptance. It suits organizations that need nationwide access to in-person banking and have a low or moderate monthly transaction volume.
Pros
- Unlimited electronic transactions
- Free access to credit card payment processing on mobile app
- Highly rated mobile app
Cons
- Only 20 paper transactions per month
- $3 nonnetwork ATM fee
- Does not earn interest
Features
- Free business debit card and employee cards
- Online and mobile banking
- Integrates with QuickBooks and other leading accounting software
- Access to QuickAccept payment processing on Chase mobile app
- Fraud protection services
- Credit card and savings account perks
- Business savings, certificates of deposit (CDs), lending products, retirement services, and credit cards also available
How Chase Business Complete Banking Stacks Up With Its Competitors
Monthly Fees | Monthly Transaction Limit Before Fees | Monthly Cash Deposit Limit Before Fees | Geographic AvailabilityGeographic availability refers to the states your business needs to operate in to become eligible for account opening. | |
|---|---|---|---|---|
Business Complete Banking | $15; waivable You can waive the monthly fee by meeting one or more of the following activity requirements: 1. Maintain a $2,000 average daily balance. 2. Have $2,000 in net purchases on Chase InkBusiness Cards. 3. Have $2,000 in deposits from Chase QuickAccept or other eligible Chase Payment Solutions transactions. 4. Link a Chase Private Client Checking account. 5. Provide qualifying proof of military status. | Unlimited electronic transactionsElectronic transactions refer to electronic deposits and deposited items, ATM and automated clearing house (ACH) transactions, Chase QuickDeposit, debit card purchases, and internal transfers. 20 free paper transactions, then 40 cents per item | $5,000, then $2.50 per $1,000 | 48 statesChase has physical locations in all states except Alaska and Hawaii. |
Fundamentals Business Checking | $16; waivable You can waive the monthly fee by meeting one or more of the following activity requirements: 1. Maintain a $2,000 average daily balance. 2. Have $2,000 in net purchases on Chase InkBusiness Cards. 3. Have $2,000 in deposits from Chase QuickAccept or other eligible Chase Payment Solutions transactions. 4. Link a Chase Private Client Checking account. 5. Provide qualifying proof of military status. | 200, then 45 cents per item | $7,500, then 30 cents per $100 | D.C. and 38 states |
Silver Business Checking | $0 | 125, then 50 cents per item | $2,500, then 33 cents per $100 | All statesYou can open a U.S. Bank business checking account from any state and access banking services via online banking. However, the bank currently only has brick-and-mortar branches in Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Ohio, Oregon, South Carolina, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin, and Wyoming. |
To see how Chase stacks up against other traditional banks, check out our comparison guides:
- Chase vs Bank of America business checking
- Chase vs U.S. Bank business checking
- Chase vs Capital One business checking
- Chase vs Wells Fargo business checking
Chase Business Checking Accounts Comparison
Business Complete Banking is the most basic business checking account Chase offers. If you need higher cash deposit limits, free wire transfers, or more monthly transactions, consider one of Chase’s other business checking accounts; read our Chase business checking review to compare all three options.
When Chase Business Complete Banking Is a Good Fit
- You want a bank that offers a full suite of banking services: On our list of the best banks for small businesses, we named Chase Business Complete Banking the best account for full-service banking tools and premium checking. Chase offers a wide range of banking products, including savings, lending products, retirement, and business services.
- You want an in-person banking provider with a wide geographic reach: Chase has over 4,700 banking locations across 48 states.
- You want a bank that rewards you for opening an account: New Chase business account owners can receive a $300 bonus by meeting specific qualifying activities. See Chase for Business’s promo page for details; the offer expires on July 22, 2024.
When to Use a Chase Business Complete Banking Alternative
- You make over 20 in-person paper transactions per month: Chase Business Complete Banking only offers up to 20 free paper check deposits and withdrawals monthly. Businesses with more transactions should upgrade to Chase’s higher tiers. Our Chase business checking review provides a comparison among the three accounts.
- You want an interest-bearing checking account: The Chase Business Complete Banking checking account does not earn interest. A good alternative would be Bluevine Standard, which pays qualified accounts an Annual Percentage Yield (APY) of 2.0% on balances up to $250,000. Learn how to qualify for the APY through our Bluevine business checking review.
- You deposit over $5,000 in cash monthly: While businesses needing higher deposit limits could choose a higher-tier Chase account, Bank of America offers a free cash deposit limit of $7,500 for a waivable monthly fee of $16, which is comparable to Chase Business Complete Banking’s waivable fee of $15. Read our Bank of America business checking review for more information.
If your small business meets one or more of these scenarios, check out our list of the best small business checking accounts for additional recommendations.
Chase Business Complete Banking Overview
- Terms
- Features
Debit Card | Free debit card, mailed within 10 business days of application approval |
|---|---|
Physical Checks | Cost varies depending on the type of checks ordered |
Accounting Software Integrations | QuickBooks, FreshBooks, and other leading accounting software |
Business Payment Integrations | Available with Chase Payment Solutions |
Customer Service | Phone: (800) 242 7338 Live customer support online or in bank branch locations |
Invoicing Products | Available with Chase Payment Solutions |
Other Products Available | Business savings, CDs, lending products, credit cards, merchant services, and collection services |
Chase Business Complete Banking Requirements
To open a business bank account with Chase, you may apply directly through its website or visit one of its banking centers. Aside from presenting two forms of ID (at least one must be a valid government-issued ID) for personal identification and an SSN, ITIN (non-US Citizens), or an EIN for tax identification purposes, you may need to submit additional Chase Business Complete Banking requirements.
- Business documents may vary based on state of organization
- Assumed name certificate, also known as trade name certificate, fictitious business name statement, or DBA
- Trust documentation
- Written partnership agreement for general partnerships or certified partnership agreement for limited partnerships, limited liability partnerships (LLPs), and limited liability limited partnerships (LLLPs)
- Joint venture agreement for general partnerships
- Active status verification for limited partnerships, LLPs, and LLLPs. Partnerships registered more than one year ago also require one of the following: Certificate of good standing, status report, or long-form standing or short-form standing
- Website validation—must be obtained free of charge
- Assumed name certificate
- Certified articles of organization (certificate of formation) – filed with state agency
- Website validation
- Active status verification (LLCs registered more than one year ago also require one of the following: Certificate of good standing, status report, or long-form standing or short-form standing)
- Assumed name certificate
- Certified articles of incorporation (also known as certificate of formation)
- Website validation—must be obtained free of charge
- Active status verification (Corporations registered more than 1 year ago also require one of the following: Certificate of good standing, status report, long-form standing or short-form standing
- Articles of association
- Charter document validating existence
- IRS confirmation of EIN issuance
- Assumed name certificate
Read our article on how to open a business bank account for guidance on the process and a downloadable checklist of documents banks typically require upon account opening.
Chase Business Complete Banking Features
Business Debit Cards
The Chase Business Complete Banking account comes with a free business debit card. You get unlimited debit card purchases and free ATM transactions within the Chase network, but each out-of-network transaction costs $3.00. Chase also provides free associate and employee debit cards, available upon request.
Digital Banking
You can manage your Chase business checking account through the Chase website or mobile app.
Through web banking, you can:
- Enable fraud protection services
- Manage your account
- View account activity
- Move money through the Chase Payment Center
- Send and receive money through Zelle
- Sign up for account alerts
Meanwhile, the app lets you deposit checks remotely. It also provides budgeting and reporting tools that help track your spending.
The app has a rating of 4.8 out of 5 on the App Store[1] (based on approximately 5.6 million reviews) and a rating of 4.4 out of 5 on Google Play[2] (based on approximately 1.8 million reviews). Satisfied users stated that the app is user-friendly and offers great fraud protection. However, some reported experiencing login issues and frequent crashes.
Payment Acceptance Through Chase QuickAcceptSM
Business Complete Banking comes with free access to Chase’s payment processor, QuickAccept. You can use QuickAccept for free on the Chase mobile app.
QuickAccept can accept phone payments and create secure payment links. If you need a device for processing credit card payments, you can also purchase the QuickAccept contactless mobile card reader for $49.95.
Fees on entries or swipes through QuickAccept or a Smart Terminal are as follows:
- Manual entry transactions: 3.5% plus 10 cents per manual transaction
- Swipe/dip/tap transactions: 2.6% plus 10 cents per tap, dip, swipe transaction using the QuickAccept contactless mobile card reader
You can deposit QuickAccept funds into your account on the same day for no additional fee.
Fraud Protection Services
Chase’s Fraud Protection Services allow you to protect your cash flow from fraud. You get check monitoringCheck monitoring is a free service for all Chase business checking customers.and approval along with payment limits and account alerts. You upload a file or information about checks you have written, and Chase compares them to checks presented for payment against that file.
Perks With Chase Business Credit Cards & Savings
Chase provides additional perks for linked credit cards and savings accounts.
- Chase Ink Business Cards: You can waive the Chase Business Complete Banking monthly fee by making at least $2,000 in monthly credit card purchases.
- Chase Business Total Savings: You can waive the Business Total Savings monthly fee by linking your Business Complete Banking account.
Other Chase Business Products
- Chase Performance Business Checking with Interest offers variable interest based on daily collected balance.
- Chase Analysis Business Checking provides a variable earnings credit to offset standard banking fees. It also offers an interest-earning option.
- IOLTA/IOTA/IOLA/IBRETA/IOREBTA/IRETA/COLTAF/CARHOF/UARHOF are specialized business checking accounts with variable interest rates based on balances. Some accounts are available only in specific states.
- Chase Business Total Savings is an interest-drawing savings account with a monthly fee of $10, waivable with an average ledger balance of $1,000, or a linked Chase Business Complete Banking account.
- Chase Business Premier Savings is an interest-drawing savings account with a monthly fee of $20, which can be waived by either meeting an average ledger balance of $25,000 or linking the account to a Performance Business Checking, Platinum Business Checking, or Analysis Business Checking account.
Chase Business CDs are FDIC-insured deposits that earn fixed interest rates and have an opening deposit of $1,000. There’s no monthly fee, and terms range from 31 days to 10 years. You can earn higher relationship rates if your CD is linked to a qualifying Chase business checking accountEligible accounts are Chase Business Complete Banking, Chase Performance Business Checking, Chase Analysis Business Checking, and Chase Platinum Business Checking..
Chase provides the following business lending services:
- Lines of credit up to $500,000
- Small business loans up to $500,000
- Commercial real estate (CRE) loans start at $50,000 with up to 25-year terms
- Small Business Administration (SBA) loans up to $5 million
- Equipment and trade financing
It also offers access to low-cost 401(k) plans through Everyday 401(k) by J.P. Morgan. Some plans start as low as $75 per month plus $6 monthly per participant.
Our related resources:
- Business Line of Credit & How It Works
- CRE Loan Types & How They Work
- SBA 7(a) Loans: Rates, Requirements & Terms
- SBA 504 Loan & How It Works
- SBA Express Loans & How to Apply
- SBA Microloans: Rates, Eligibility & How to Apply
- Equipment Financing: Loans vs Leases
There are 10 Chase business credit cards:
Best For | Annual Fee | Ongoing Rewards | |
|---|---|---|---|
Ink Business Premier | Those who make large purchases frequently | $195 | Up to 5% cash back |
Read our Ink Business Premier Credit Card review | |||
Ink Business Unlimited | Earning fixed-rate cash back | $0 | Up to 5% cash back |
Read our Ink Business Unlimited Credit Card review | |||
Ink Business Cash | Office supply and telecommunications expenses | $0 | Up to 5% cash back on select purchases |
Read our Ink Business Cash Credit Card review | |||
Ink Business Preferred | Earning travel rewards and lucrative sign-up bonuses | $95 | Up to 5x rewards points |
Read our Ink Business Preferred Credit Card review | |||
Southwest Rapid Rewards Performance Business | Earning premium Southwest travel rewards and perks | $199 | Up to 4x rewards points on Southwest purchases |
Read our Southwest Rapid Rewards Performance Credit Card review | |||
Southwest Rapid Rewards Premier Business | Those who want a low annual fee Southwest card | $99 | Up to 3x rewards points on Southwest purchases |
Read our Southwest Rapid Rewards Performance Credit Card review | |||
United Business | Those seeking a United Airlines card with a low annual fee | $0 for the first year, then $99 | Up to 2x miles on United purchases |
Read our United Business Credit Card review | |||
United Business Club | Luxury travel with United Airlines | $450 | United Club membership and up to 2x miles on United purchases |
Read our United Club Business Card review | |||
IHG One Rewards Premier Business | Staying at IHG hotels and resorts | $99 | Up to 26x points on IHG-related purchases |
Read our IHG Rewards Premier Business Credit Card review | |||
World of Hyatt Business | Loyal Hyatt Hotels customers | $199 | 2x bonus points on your top 3 spending categories |
Read our World of Hyatt Business Credit Card review | |||
Chase Business Complete Banking User Reviews
Only a few customers have published a Chase Business Complete Banking review on user review platforms. While the account has a rating of 3.3 out of 5 on WalletHub[3] from about 20 reviews, only two comments focused on the specific business checking account. Both reviewers mentioned that the bank’s $2,000 required minimum balance to waive the fee was quite high.
Meanwhile, Chase’s overall rating is 3.8 out of 5 on WalletHub[4] from around 27,000 reviews, 1.5 on ConsumerAffairs[5] from over 4,200 reviews, and 2.5 on DepositAccounts[6] from nearly 300 reviews.
Some common comments include the following:
- Reliable and secure: Reviewers said that fraud issues were thoroughly investigated and resolved by Chase. Some users said that they trust the bank to keep their funds safe.
- Poor customer service experience: There is some negative feedback regarding Chase’s customer phone support team. Reviewers complained about being placed on hold for hours and then getting their calls disconnected.
Frequently Asked Questions (FAQs)
Yes. Chase offers small business owners unlimited electronic transactions, robust accounting and payment integrations, and a wide array of business banking products—such as checking and savings accounts, credit cards, and business loans.
Aside from access to merchant and collection services and nationwide branches, Chase business checking accounts come with waivable monthly fees and a minimum cash deposit allowance of $5,000. Higher-tier business checking accounts offer more free transactions and free incoming domestic wire transfers.
Chase Business Complete Banking has a free in-person paper transaction limit of 20. However, account holders can access unlimited electronic transactions, which include electronic deposits and deposited items, ATM and ACH transactions, and debit card purchases.
No. There is no minimum balance requirement for Chase Business Complete Banking.
Bottom Line
Chase is one of our top choices for business banks because it offers generous account-opening bonuses and access to multiple business banking products. If you’re looking for a business checking account that offers unlimited electronic transactions, access to in-person banking, and built-in card acceptance, Chase Business Complete Banking is a great choice. You can upgrade easily to Chase’s two higher-tier checking products as your business grows.
User review resources:
[1]App Store
[2]Google Play
[3]WalletHub
[4]WalletHub
[5]ConsumerAffairs
[6]DepositAccounts
