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Chase bank requirements to open a business account


chase bank requirements to open a business account

J.P. Morgan Private Bank can give your business the same powerful banking tools used by our global corporate clients. Running a successful business isn't for. Chase Bank offers business checking and saving accounts, as well as loans, credit cards, and lines of credit. Read on for fees, rates, and requirements for. And Mail To: Chevy Chase Bank, Credit Card Department, P.O. Box 999, the use of the account, if approved, will be governed by the Cardholder Rules and.

Chase bank requirements to open a business account -

$0

Minimum deposit to open

Details

APYN/A
Fee$15 per month
To waive the feeOr meet any one of these requirements each month:
- $2,000 minimum daily balance
- $2,000 in purchases on your Chase Ink Business Card
- $2,000 in deposits from QuickAccept or other eligible transactions
- Link a Chase Private Client Checking account
Minimum deposit to open$0
Intro or bonus offerNew customers are eligible to receive a $300 bonus offer as long as they meet certain balance and transaction requirements.
ATMsover 16,000 in-network ATMs
ATM transaction fee$0
Out-of-network ATM fee$2.50
Cash
Check
  • Mobile/remote check deposit
Transfer
Avatar

Review by

Cassidy Horton

[email protected]

Cassidy Horton is a writer for Finder, specializing in banking and kids’ debit cards. She’s been featured on Legal Zoom, MSN, and Consolidated Credit and has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. When not writing, you can find her exploring the Pacific Northwest and watching endless reruns of The Office.

Expert review

Instead of new business owners having to cobble together services they need to start their company — such as a card reader and a business checking account — they can find both of these services at Chase.

The new Chase Business Complete Banking is just that — a complete bank account with built-in card processing through Chase’s QuickAccept Mobile Card Reader. Sales hit your account the same day for free, which is another perk that makes this account stand out. Other accounts, such as Stripe, charge a 1.5% fee for instant transfers.

On the downside, the account has a $15 monthly fee. But you can avoid it when you meet certain deposit or relationship requirements each month.

If you regularly process payments on the go and want an all-in-one solution, Chase Business Complete Banking is a no brainer. But if you don’t need the QuickAccept service, a free business checking account may be a better fit.

Chase Banking

Deal

$300 signup bonus when you open a new Chase Business Complete Banking account with qualifying activities

Expires 20 Jan 2022

Offer valid for Chase business checking accounts through January 20, 2022, when you deposit $2,000 within 30 days of opening your account, maintain $2,000 for 60 days and complete five transactions within 90 days. Transactions include: debit card purchases, QuickDeposit, ACH deposit, wires transfers.

Open a Chase Business Complete Banking account at a branch location or online using these steps:

  1. Click Apply now.
  2. From the Chase website, under Chase Business Complete Banking click Open account online or Open account in branch.
  3. Select if you’re a current or new Chase customer.
  4. Select your legal business structure and business type and click Next.
  5. Enter your business information and click Next.
  6. Follow the prompts to complete your application and verify your identity.

Eligibility

You must meet this basic criteria to open an account:

  • Valid Social Security or tax identification number
  • Valid state-issued ID
  • Valid US address
  • Sole proprietorship, corporation or limited liability company (LLC) managed by a single member or manager, if applying online

Required information

You’ll need this information when opening a Chase Business Complete Banking account:

  • Name and date of birth
  • Business address and details
  • Business formation documents
  • Social Security or tax ID number
  • Driver’s license or other state-issued ID
Chase Business Complete Banking account offers these perks:
  • $300 bonus offer. New customers are eligible to receive a $300 bonus offer as long as they open an account by January 20, 2022, meet certain balance and transaction requirements.
  • Integrated system. Instead of small business owners having to secure separate services for banking and payment processing, they can open one account for both, allowing them to get their businesses off the ground even quicker.
  • Unlimited free transactions. You won’t pay a fee for any electronic deposits and deposited items, ACH and ATM transactions, Chase QuickDeposits, debit card purchases and internal transfers.
  • Free same-day deposits. Competitors like Square charge a 1.5% fee for instant transfers, but Chase offers this service for free.
  • Perks for military members. Active Duty service members enjoy no monthly fees, free incoming and outgoing transactions, free non-Chase ATM network usage and other perks.
  • Reasonable processing fees. Chase’s fees for the QuickAccept Mobile Card Reader are similar to what you’ll find with other card reader services. Here’s how much you can expect to pay:
Tap, dip and swipe2.6% plus $0.10
Keyed entry3.5% plus $0.10

How can I get Chase’s $300 offer?

New Chase business checking account customers applying online or at a branch have until January 20, 2022, to take advantage of Chase’s promotion when they complete these steps:

  1. Click Apply now.
  2. Enter your email address to receive your $300 code.
  3. Select Open account online or Open account in branch. If you’re applying online your code will be automatically applied. If you’re applying at a branch, you can use your $300 emailed code at a branch.
  4. Open a Chase business checking account.
  5. Complete the following eligibility requirements:
    • Deposit 2,000 into your business checking account within 30 days of opening
    • Keep a $2,000 balance for 60 days
    • Complete five transactions within 90 days of opening the account. Transactions include: debit card purchases, Chase QuickDeposit, ACH deposits and wire transfers.

Chase has over 16,000 in-network ATMs and more than 4,700 branches nationwide. You can use your debit card at any of these ATMs for free. If you use a non-network ATM, expect to pay $2.50 plus any operator fees.

The Chase Business Complete Banking account is a good choice for business owners who need to accept card payments on the go. But it has these drawbacks:

  • Potential monthly fee. There’s a $15 monthly fee, but Chase waives it when you meet any one of these requirements each month:
    • $2,000 minimum daily balance
    • $2,000 in purchases on your Chase Ink Business Card
    • $2,000 in deposits from QuickAccept or other eligible Chase Merchant Services transactions
    • Link a Chase Private Client Checking account
  • Cap on cash deposits. Your first $5,000 in cash deposits is free each month. After that, you’ll pay a fee for each additional deposit you make.
  • Online application eligibility. Only sole proprietorships, corporations or limited liability companies (LLC) managed by a single member or manager can open an account online. If your business doesn’t fit into one of these, you’ll need to visit a branch.
  • Card reader sold separately. Once you set up your checking account, you’ll need to order your Mobile Card Reader through the QuickAccept feature on the Chase Mobile app. Chase’s website doesn’t indicate how much this reader costs.

If you don’t accept in-person payments and just need a free business checking account, compare these top picks.

Use this table to see how the Chase Business Complete Banking account compares to other business checking options.

Источник: https://www.finder.com/chase-business-complete-banking

Chase Business Complete Banking Review – Accounts for Small Businesses

Chase Business Complete BankingSM is part of the Chase for Business vertical, which includes a host of small business credit cards (including the excellent Chase Ink Business Preferred Credit Card) and business savings accounts.

Chase has three main business checking accounts: Chase Business Complete Checking, Chase Performance Business Checking®, and Chase Platinum Business CheckingSM. All three can help reduce common business expenses and facilitate business funding initiatives for nascent startups and mature enterprises alike.

Here’s what you need to know about Chase’s three main business checking accounts.

Key Features for Each Chase Business Checking Account

Here’s what you need to know about each Chase Business Checking account.

Chase Business Complete Checking

This is Chase’s “entry level” business checking account – though it’s far from basic. Here’s what you need to know about it.

  • Account Opening Bonus: Open a new Chase Business Complete Checking account online or in person and complete qualifying activities to earn a $300 bonus. This offer is valid though Jan. 20, 2022.
  • Minimum Opening Deposit: There’s no minimum deposit required to open this account.
  • Monthly Maintenance Fee: $15, but can be waived in multiple ways, including maintaining a required minimum balance or completing qualifying transactions on your Chase Ink Business credit card.
  • Transaction Limits: Enjoy unlimited electronic deposits, ACH, and mobile check deposits via Chase QuickDeposit.
  • Cash Deposit Limits: See terms for information about cash deposit limits.

Chase Performance Business Checking®

This is Chase’s mid-level business checking account. It’s ideal for established midsize businesses with straightforward cash management needs.

  • Minimum Opening Deposit: The minimum opening deposit is $25.
  • Monthly Maintenance Fee: $30, waived when you maintain qualifying business account deposits (across all linked business accounts) of $35,000 or more.
  • Transaction Limits: Up to 250 free transactions per month and unlimited deposits, including incoming wires. The transaction limit excludes outgoing wire transfers, but the account does include two outgoing wires at no charge. Above the limit, the transaction fee is $0.40.
  • Cash Deposit Limits: Up to $20,000 in fee-free cash deposits per month.

Chase Platinum Business CheckingSM

This is Chase’s top-tier business checking account. It’s designed for larger businesses that need to handle lots of transactions.

  • Minimum Opening Deposit: The minimum opening deposit is $25.
  • Monthly Maintenance Fee: $95, waived when you maintain qualifying business account deposits (across all linked business accounts) of $100,000 or more.
  • Transaction Limits: Up to 500 free transactions per month and unlimited deposits, including incoming wires. Up to four outgoing wires are included at no charge, with standard wire transfer fees applying above that limit. The post-limit transaction fee is $0.40.
  • Cash Deposit Limits: Up to $25,000 in fee-free cash deposits per month.

This isn’t a full accounting of all the fees and limitations that you could encounter as a Chase Business Checking customer. For a complete guide to each account, call Chase’s business banking helpline at or check in with a business banker at one of the company’s many U.S. branches.

Key Features for All Accounts

All of Chase’s business bank accounts have some useful features for account holders.

Online Banking With Bill Pay

Chase’s online banking suite includes:

  • Online Bill Pay: Fee-free bill payments (subject to transaction limits) to vendors, contractors, and others.
  • Account Activity Sync: Easily download account activity to QuickBooks and other accounting platforms for easy offline and on-the-go access.
  • Account Alerts: Text, push, and email alerts for important account events, such as incoming deposits, low balances, and more.
  • Mobile Banking: Chase’s mobile banking app offers full functionality on iOS and Android devices.
  • Paperless Statements: All Chase business checking customers are eligible for paperless statements, which may reduce monthly maintenance fees.

Complimentary ATM Access and Debit Cards

All Chase business checking account holders enjoy complimentary business debit cards and fee-free access to more than 16,000 Chase ATMs around the United States. Chase also has more than 4,700 physical bank branches in the U.S., though they’re not evenly distributed across the country.

Chase QuickDepositSM

Chase QuickDeposit is a user-friendly mobile check deposit tool that’s free for low-volume users. To deposit a check at no charge, simply follow the prompts in the mobile check deposit app.

If your business processes a lot of paper checks, you’ll want a physical check scanner. A single-feed check scanner is free to purchase, but requires a $25 monthly fee on a two-year contract. A multi-feed check scanner, which is ideal for high-volume deposits, requires a $50 monthly fee on a two-year contract and no upfront charge.

Chase Merchant Services

Chase has a slew of services and solutions for merchants that need to accept payments in-person, online, and over the phone. For in-person transactions, merchants can choose from several different POS configurations for terminal, pay-at-the-table, and mobile sales. For remote transactions, Chase offers virtual terminal and e-commerce portal solutions. These solutions may carry equipment and maintenance fees, and may require longer-term contracts, so talk to your Chase banker for more information.

Chase Business Banking Services

In addition to the services and solutions outlined above, Chase offers lockbox, cash (Branch Deposit Express), and cash vault services for larger businesses that need to rapidly and accurately process lots of transactions. These services may carry additional fees and limitations – talk to your banker for more details.

Advantages

  1. Relatively Easy to Avoid Monthly Maintenance Fees in Chase Business Complete Checking. There are multiple ways to avoid the $15 monthly maintenance fee in your Chase Business Complete Checking account, including maintaining a required minimum balance or completing qualifying Chase Ink Business Credit Card transactions.
  2. User-Friendly Mobile Check Deposit. Chase’s user-friendly QuickDeposit tool is a boon for business owners who don’t work within easy reach of a physical Chase branch or ATM – and those who simply can’t find the time to visit the bank themselves. If you’re a landlord who needs to cash security deposit checks on the go, for instance, this is a lifesaver. The mobile check scanning app is free to use; for higher deposit volumes, you’ll want a check scanner, which requires a contract and $25 to $50 monthly fee.
  3. Free Access to More Than 4,700 Branches. Chase has more than 4,700 physical branches around the United States. That’s a big advantage over mostly or solely online banks like Capital One (which has just a few physical branches) and Ally Bank (which has no physical branches). Even with Chase’s comprehensive, user-friendly online tools, it’s always nice to be able to talk to a banker in person.

Disadvantages

  1. Relatively Strict Cash Deposit Limits. No matter which Chase Business Checking account you select, you can’t deposit more than $25,000 cash per month. This is a problem for cash-heavy businesses, such as restaurants and retailers.
  2. Excess Transactions Incur a $0.40 Fee. If your business conducts lots of small-dollar transactions (or lots of transactions in general), Chase Business Checking might not be for you. Depending on your account level, as few as 101 transactions per month can trigger the $0.40-per-transaction fee. Some competing accounts, including Capital One Spark Business Checking, have no transaction limits and no fees for excess transactions.
  3. Smallish ATM Network. Chase has just 16,000 fee-free ATMs in the U.S. This is far fewer than Capital One, whose Spark Business Checking account comes with access to nearly 40,000 fee-free ATMs.
  4. No Interest on Deposits. These accounts don’t pay interest on deposits. While business checking accounts generally aren’t as generous as business savings accounts in the interest department, some major banks do at least pay token interest on deposits. For instance, Wells Fargo’s top-tier business account is interest-bearing.
  5. Need to Apply in Person. You can’t open a Chase Business Checking account online. You have to walk into a Chase branch and apply with a banker. Needless to say, this takes time and rules out business owners who don’t live or work within easy reach of Chase branches.

Final Word

Chase Business Complete BankingSM and Chase Business Checking are among of the most recognizable business checking solutions out there, but they’re probably not the only financial solutions your company needs.

That’s fine by Chase. As one of the biggest banks in the United States, Chase has a nice lineup of business savings solutions, including traditional savings accounts and CDs, so you’ll want to look into those if you’re not impressed by Chase Business Checking’s lack of interest-bearing options. It also has multiple credit card options for businesses and consumers alike, including some of the top travel rewards credit cards and cash back credit cards on the market.

And, of course, your Chase banker is always happy to discuss borrowing options with you. In other words: No matter what your growing business needs, Chase can probably help. Just be sure to compare their offerings to the competition. No one is perfect, after all, and it’s never been easier to learn what else is out there.

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Источник: https://www.moneycrashers.com/chase-business-checking-account-review/

Chase Business Checking Review
Is It Right For You? (Pros, Cons & More)

Chase Business Checking Review

Do you need a business bank account, but you don’t know who offers the features you want and the convenience you need? There are so many options for business banking these days that it’s difficult to discern which one’s right for your company.

As a supplement to your own research, my team and I invested many hours poring over the details of the best banks for business. Our goal is to provide you with the information you need to choose the best fit for you.

In this Chase business banking review, we’ll go over the pros and cons, pricing, features, customer reviews and more. Read on to find out if they’re a good choice for you!

Chase Pros & Cons

Pros of Chase

  • With 16,000 ATMs and more than 4,700 branches around the country, it’s easy to find a Chase banking center.
  • Chase’s mobile apps are user-friendly. Customer reviews for their mobile banking are overwhelmingly positive, which isn’t true for all of their major competitors. Additionally, they’re often on the leading edge of technological advancements in the banking industry.
  • Their 3 levels of business checking packages are targeted to suit small, medium and large businesses. No matter what your needs are, Chase has a checking account for you.
  • If you add a business credit card, you get access to some great rewards including cash back, travel rewards and much more.

Cons of Chase

  • Their top-tier Platinum Business checking account is expensive, with $95 per month in fees, and it still has a 500 transaction limit.
  • With savings rates that range from 0.05-0.15%, their interest rates aren’t the absolute lowest in the business, but they’re still pretty low.

I’ll give Chase a score of 4.0/5. I appreciate their great website and apps, and their easy accessibility to a local branch is a big plus as well. Ready to get started with Chase? Need to review our guide to the top business banks? Simply use the buttons below and you’re on your way!

Chase Pricing & Features

Chase gives you 3 options for business checking, and their packages are tailored for small, medium and large businesses. Let’s take a look at what they have to offer in their Business Complete Checking, Performance and Platinum checking packages:

Chase Business Complete Banking℠

The Chase Business Complete Checking Account has a $0 minimum deposit to open, $15 monthly fees, and benefits that include:

  • 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
  • Built-in card acceptance. Accept card payments anytime, anywhere in the U.S., and get transparent pricing with Chase QuickAccept(SM).
  • Same-day deposits with QuickAccept(SM). Free up the cash you need to keep your business moving forward with same-day deposits 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 Deposit(SM).
  • Convenient access to 16,000 ATMs and more than 4,700 branches.

Performance

What It Includes: 350 monthly transactions, $20 monthly fee waived with $50,000 average balance, $20,000 monthly cash deposits, 2 domestic wires per month.

Who It’s Right For: Growing companies with more demanding banking needs will do well with the Performance account.

Platinum

What It Includes: 500 monthly transactions, $95 monthly fee waived with $100,000 average balance, $25,000 monthly cash deposits, unlimited electronic deposits and incoming wires, 4 outgoing wires per month, Chase Platinum Business Service customer support system which grants you priority service.

Who It’s Right For: Large companies with complex banking requirements, who either don’t mind paying the $95 fee or have enough cash to maintain the $100,000 average balance to waive it.

Savings Accounts

Chase takes a unique approach to their business savings rates, with rates of just 0.04-0.05% for customers who don’t link the account to a Chase checking account. For those customers who have both, the rates are as follows:

  • $0-$9,999 balance: 0.05% APY
  • $10,000-$99,999: 0.10%
  • $100,000+: 0.15%

Finally, keep in mind that their business credit cards have some great perks like cashback and travel rewards.

Chase Customer Reviews

It can be hard to find honest customer reviews for business banking institutions, but one place where I consistently turn to is reviews of bank apps.

Chase does quite well in this area, as they have excellent average ratings on both Google Play and iTunes. It seems that many of their business customers enjoy the convenience afforded by Chase’s many physical branch locations, as well as how easy it is to manage multiple accounts.

Customer Reviews Last Updated 8-21-17

Conclusion: I’ll be honest, it’s rare to see such positive customer feedback for a major financial institution. I will say that I found some complaints about their service department, but that’s bound to happen anytime you’re dealing with a company this large (some unsatisfied customers always fall through the cracks). On the whole, customer feedback is quite good for Chase.

Considering how much time I’ve spent studying the best banks for business, I’ve figured out that some of them are simply better offers than others. Of course, the goal is still to discern which one has the best combination of features and convenience for you.

Chase is a good bank for business because of their easy accessibility and technological advancements. Still, it’s always smart to keep an eye on the competition, so let’s also look at my personal favorite, Spark Business by Capital One.

Pricing: Spark Business does not charge any fees, and they don’t have minimum balances on their business bank accounts.

Features: Chase has more than 4,700 branches nationwide, whereas Spark Business is a digital product that doesn’t have physical branch locations. However, Spark Business does give you access to 40,000+ ATMs, while Chase has 16,000. As for the savings accounts, Spark Business gives you a 0.40-1.00% APY which is far better than Chase’s 0.05-0.15%.

Customer Support: Considering the size and scope of these banks, customer service by default will not lead to 100% of their customers being satisfied. In my personal experience, both Chase and Spark Business are easy to get ahold of and have friendly, knowledgeable reps. Just know that not everyone has this same experience.

Experience: Capital One is the 8th biggest American financial institution, having opened back in 1988. On the other hand, Chase is the largest bank in the US, in business since 1877.

HERE’S A QUICK VISUAL

Service Fee Starts at $0

In Business Since 1988

Perfect for: Anyone looking for a startup-friendly, cost-effective business checking account

Visit Website

Frequently Asked Questions

How Easy Is It to Get Set Up?

You can’t open an account online, which means you’ll have to go to the nearest Chase location. While that’s a bit of a letdown, we’re sure it doesn’t take too long in person. And again, with more than 4,700 branches there’s bound to be one nearby.

What Perks Come with Checking Accounts?

Their Performance and Platinum accounts include wire transfers, and Platinum also includes their preferred customer service program.

How Are Deposits Made?

You can make deposits through their Chase Mobile app, at a branch near you or at one of their many ATM locations.

Should You Use Chase?

I’ll give Chase a score of 4.0/5. I appreciate their great website and apps, and their easy accessibility to a local branch is a big plus as well. Ready to get started with Chase? Need to review our guide to the top business banks? Simply use the buttons below and you’re on your way!

Источник: https://startupsavant.com/chase-business-checking-review

How To Open a Chase Checking Account

Banking / Checking Account

Ken Wolter / Shutterstock.com

Chase is the commercial banking division of JP Morgan Chase & Co. According to its website, the bank provides personal banking services, credit cards, mortgages and other financial services to nearly half of the households in the U.S.

If you’re interested in opening a Chase checking account, you can open one in a few minutes on the bank’s website or in a local branch. Here’s how:

How To Open a Chase Checking Account

Steps To Open

  1. Gather the Required Items and Information
    • Social Security number
    • Driver’s license or state-issued ID
    • Contact information, including your name, address, email address and phone number
    • Note: If you are opening a joint account, both you and the co-account holder need to provide this information.
  2. Choose a Checking Account
    • Chase offers several different checking account options. Preview them by going to the Chase website, then click the “Open Now” button for the account you want to open.
  3. Fill Out an Online Application
    • If you are a current Chase customer, you can sign in to your account and use a prefilled application to open a new account. If you are not a current Chase customer, complete and submit the online application.
  4. Fund the Account
    • Chase does not require a deposit to open an account. However, you have to fund the account within 60 days of opening.

Can You Apply in Person?

If you don’t want open an account online, you can always visit the nearest Chase branch and open a checking account in person. You’ll need to provide the same information and documents outlined in the previous steps.

If you want to open a joint account, applying in person is the only option. You and the co-account holder must go to the bank together.

Chase Checking Account Options

Chase offers four different checking account options. To determine which Chase checking account is right for you, review the details on each and note the key differences.

Chase Total Checking

The Chase Total Checking account offers access to 16,000 ATMs and more than 4,700 branches, as well as debit-card chip technology protection and 24/7 customer service. You also get online bill pay and mobile banking.

There is a monthly service fee of $12 for this account. However, Chase waives the monthly service fee if you meet requirements for direct deposit, minimum daily balance and/or beginning day balance.

Chase Secure Banking

Chase Secure Banking provides the services you need from a checking account. In addition to access to more than 16,000 ATMs and online banking services, this account comes with a fee waiver for counter checks and money orders.

There is a fixed monthly fee of $4.95 for this account that cannot be waived.

Chase Premier Plus Checking

This interest-bearing account offers priority service to customers, who get access to all Chase Total Checking benefits. Account-holders also get free checks and fees waived at non-Chase ATM transactions (up to four times per statement period).

Premier Plus account holders get other perks like a Chase First Banking account for children, a complimentary or discounted safe deposit box and no fees for paper checks. You can waive the $25 monthly fee by meeting certain requirements.

Chase Student Checking

Chase Student Checking offers three different accounts to meet student needs:

  • Chase First Banking: Available to ages 6 and older
  • Chase High School Checking: Available to students ages 13 to 17
  • Chase College Checking: Available to students ages 17 to 24

To open a Chase First Banking account, the child’s parent or guardian must have a qualifying Chase checking account. There is no monthly fee for this account. It comes with a debit card and access to Chase branches and ATMs.

Chase High School Checking and Chase College Checking accounts offer more services — namely access to online and mobile banking. There is a monthly fee for Chase College Checking, but this can be waived.

Chase’s Monthly Account Fees

Not all Chase checking accounts have monthly service fees, but those that do charge anywhere from $4.95 to $25. Some of these fees can be waived it you meet certain criteria. You can also get hit with fees for using non-Chase ATMs, replacing cards or making purchases outside the U.S.

You can avoid monthly service fees by maintaining minimum balance requirements, receiving qualifying direct deposits or linking your account to your Chase mortgage. Your deposit account agreement provides specific instructions on how to avoid fees on your account.

What Is the Minimum Balance for Chase Checking Accounts?

There is no minimum balance required to open a Chase checking account. However, you must fund the account within 60 days of opening it.

One of the ways to avoid service fees on some accounts is to maintain a minimum balance. Here are the requirements for those accounts:

  • Chase Total Checking: $1,500 beginning daily balance or $5,000 combined balance in the account linked with qualifying deposits or investments
  • Chase Premier Plus Checking: Average beginning daily balance of at least $15,000 in any combination of this account and linked qualifying deposits/investments
  • Chase College Checking: Average beginning day balance of at least $5,000 in any combination of this account and linked qualifying deposits/investments

Should You Open a Chase Checking Account?

If you’re thinking of opening a new checking account, take a closer look at what Chase has to offer. It gives you the convenience of a national bank, including access to thousands of local branches and ATMs across the country. Chase also offers a variety of services such as mortgages, loans and credit cards.

Chase frequently offers promotions to attract new customers, and you might be able to snag a lucrative cash bonus just for opening a new account. Check out the latest Chase promotions before you choose a new account.

This article has been updated with additional reporting since its original publication. This content is not provided by Chase. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Chase.

Editorial Note: This content is not provided or commissioned by the bank advertiser. Opinions expressed here are author’s alone, not those of the bank advertiser, and have not been reviewed, approved or otherwise endorsed by the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.

About the Author

Kim Olson began her freelance career after first pursuing an editorial career in college textbook development. She has a background in medical and legal transcription. Since 2006, she has ghostwritten thousands of articles for a variety of online venues with a focus on consumer finance.

Источник: https://www.gobankingrates.com/banking/checking-account/how-open-chase-checking-account/

TD Small Business Checking

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TD Business Premier CheckingSM

The business checking account that rewards your TD Bank relationship

With the most perks of any TD small business checking account — discounts on services, free unlimited money orders and official checks, and more

No monthly fee for up to 3 additional accounts including TD Small Business Money Market Plus and up to 2 TD Business Simple Checking accounts 1

No TD fees at non-TD ATMs2.


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TD Business Convenience Checking Plus

All the essential account features you need to run your business

Waive the monthly fee with a $1,500 minimum daily balance between this account and a TD personal checking account3,4

Send money where it needs to go with ACH, Bill Pay5 and Wire Transfers

Pay with confidence with the TD Visa Business Debit Card and continuous fraud monitoring


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TD Business Simple CheckingSM

A business checking account with built-in, professional invoicing

Send free professional invoices that customers can pay online6

Accept online credit card and ACH payments for a low per-transaction fee6

Low $10 monthly fee—no minimum daily balance required


Add another account to compare

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What you get with a TD Small Business Checking account

  • Longer store hours
    Enjoy the convenience of over 1,100 TD Bank locations with longer hours, including weekends7
  • Online Banking with access to accounts and payments
    Online Banking and Mobile Banking with Mobile Deposit8 plus payment options including ACH, Bill Pay5 and Wire Transfers. Set up sub-users and permissions to tailor your account to your business needs
  • Local personalized support
    Connect with a Small Business specialist to help customize services and solutions for your business
  • Instant issue debit card
    Lost or worn card? Stop by a TD Bank near you and get a new business debit card on the spot
  • 24/7 Live Customer Service
    Call 1-888-751-90001-888-751-9000 and press 0 to talk to a real person 24/7. Get account info, answers to questions about our products and services, open an account and more
  • Merchant Solutions
    Get your funds faster with next-business-day funding to a TD Checking account. And, waive the monthly fee for TD Business Premier Checking accounts.9 Accept any type of payment, even contactless from anywhere. Track sales, identify trends, report on customer segments, spending patterns and more
  • TD Online Accounting6
    Your banking and accounting all in one place. Send online invoices, accept credit card payments and access reporting from within TD Online Banking

Interest on Lawyers Trust Accounts (IOLTA/IOLA)

Law firms can use IOLTA accounts to place client funds into a pooled account that earns interest used to benefit public service programs approved by the state bar.

Still deciding on an account?

Our account selector can help you choose the right account.

More TD small business solutions

Merchant Solutions

Easily accept payments and receive your funds faster with next-business-day funding to a TD Business Checking account2

Find out more

Get more from your checking account

Explore the benefits of your checking account along with other services to help grow your business

Find out more

TD Online Accounting

Send online invoices, accept credit cards, streamline accounting and track everything all in one place

Get details

Get ready to open your business account

Be prepared with the info and documents you'll need to open a deposit account or apply for a loan or line of credit

Find out more

View account guide for more details: TD Business Simple Checking, TD Business Convenience Checking Plus, TD Business Premier Checking and TD Business Interest Checking Plus.

1Refer to the Business Deposit Account Agreement for details.

2For non-TD Bank, N.A. ATM transactions, the institution that owns the terminal (or the network) may assess a surcharge at the time of your transaction, including balance inquiries.

3Non-profit customers are eligible for waiver of the monthly maintenance fee.

4TD Business Convenience Checking Plus combined balances includes balances from the TD Business Convenience Checking Plus account and one TD personal checking product. The following personal checking products are excluded: Health Savings Accounts and TD Simply Free Checking. Please see your Business Deposit Account Agreement for more details.

5Bill Pay payments are free with up to a 3-day turnaround time. A rush same-day payment feature is available for a fee. Please consult your Business Account Agreement for details.

6TD Online Accounting is powered by Autobooks. Neither TD Bank, N.A., nor any of its subsidiaries or affiliates, is affiliated with Autobooks, Inc (Autobooks). The accounting services referenced herein are provided exclusively by Autobooks and are subject to customer’s agreement to Autobooks’ terms of use. Certain restrictions and fees apply. TD Bank may be entitled to receive fees from Autobooks for customer’s use of accounting services. Use of accounting services from any provider, including Autobooks, is solely at the customer’s election. Autobooks may have a different Privacy and Security policy than TD Bank, N.A. You should review the Privacy and Security policies of the Autobooks website before you provide personal or confidential information. Restrictions may apply for 1-2 day funding availability service. TD Business Simple Checking customers enrolling in Invoicing only, will pay no monthly service fee. Customers with multiple business checking accounts are only eligible for the Invoicing only monthly service fee waiver if all checking accounts are TD Business Simple Checking products. All other business checking product types will pay a $10 monthly service fee for TD Online Accounting.

7Data as of March 2018. Comparison of longest average store hours in the regions (MSAs) in which TD Bank operates compared to major banks. Major banks include our top 20 national competitors by MSA, our top five competitors in store share by MSA and any bank with greater or equal store share than TD Bank in the MSA. Major banks do not include banks that operate in retail stores such as grocery stores, or banks that do not fall in an MSA.

8The TD Bank Mobile App is free to download, however, standard wireless carrier message and data rates may apply. Text "Stop" to quit or "Help" for more information. TD Bank Mobile Deposit is available to business customers with an active checking, savings or money market account. Available for most iPhone® and Android™ devices. Other restrictions may apply. Please refer to the Mobile Deposit Addendum.

9Fees may apply for optional services. For merchants with a TD Bank settlement account and TD Bank’s standard payment processing setup, funds will be available in the settlement account by 2 PM ET on the next business day. Availability may vary based on merchant-selected payment processing gateway and other chosen services, including but not limited to, the use of non-TD Bank settlement account. Additional restrictions apply. Please consult your Business Account Agreement for details. See the TD Bank, N.A. Member Merchant Agreement for Applicable Merchant Processing Fees and Assessments. Subject to credit approval. Visit https://www.tdbank.com/merchantsolutionsoffer/ for promotion details.

View account guide for more details: TD Business Simple Checking, TD Business Convenience Checking Plus, TD Business Premier Checking and TD Business Interest Checking Plus.

1Refer to the Business Deposit Account Agreement for details.

2For non-TD Bank, N.A. ATM transactions, the institution that owns the terminal (or the network) may assess a surcharge at the time of your transaction, including balance inquiries.

3TD Business Convenience Checking Plus combined balances includes balances from the TD Business Convenience Checking Plus account and one TD personal checking product. The following personal checking products are excluded: Health Savings Accounts and TD Simply Free Checking. Please see your Business Deposit Account Agreement for more details.

4Non-profit customers are eligible for waiver of the monthly maintenance fee.

5Business Convenience Checking in-store cash deposits up to $5,000 per statement cycle and $0.25 per $100 deposited thereafter.

6Business Simple Checking in-store cash deposits up to $5,000 per statement cycle and $0.25 per $100 deposited thereafter.

7Data as of March 2018. Comparison of longest average store hours in the regions (MSAs) in which TD Bank operates compared to major banks. Major banks include our top 20 national competitors by MSA, our top five competitors in store share by MSA and any bank with greater or equal store share than TD Bank in the MSA. Major banks do not include banks that operate in retail stores such as grocery stores, or banks that do not fall in an MSA.

8The TD Bank Mobile App is free to download, however, standard wireless carrier message and data rates may apply. Text "Stop" to quit or "Help" for more information. TD Bank Mobile Deposit is available to business customers with an active checking, savings or money market account. Available for most iPhone® and Android™ devices. Other restrictions may apply. Please refer to the Mobile Deposit Addendum.

9Fees may apply for optional services. For merchants with a TD Bank settlement account and TD Bank’s standard payment processing setup, funds will be available in the settlement account by 2 PM ET on the next business day. Availability may vary based on merchant-selected payment processing gateway and other chosen services, including but not limited to, the use of non-TD Bank settlement account. Additional restrictions apply. Please consult your Business Account Agreement for details. See the TD Bank, N.A. Member Merchant Agreement for Applicable Merchant Processing Fees and Assessments. Subject to credit approval. Visit https://www.tdbank.com/merchantsolutionsoffer/ for promotion details.

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Источник: https://www.td.com/us/en/small-business/checking-accounts/

Chase Business Complete Banking Review

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℠ combines all the benefits of a checking account with features like Chase QuickAccept so you can accept payments on the go.

Whether you’re looking for your first small business checking account or you’re ready to make the switch to a new bank, here’s a closer look at what Chase Complete Banking has to offer.

Account Basics

Chase Business Complete Banking

Chase Business Complete Banking is a business checking account that’s paired with Chase QuickAccept.

This feature allows you to accept card payments from customers or clients as an integrated feature of your bank account. Chase QuickAccept allows same-day deposits into your Chase business checking account, with transparent pricing for processing card payments. The fee structure to accept payments is as follows:

  • 2.6% + 10 cents for tap, dip or swipe transactions completed using a QuickAccept Mobile Card Reader
  • 3.5% + 10 cents for keyed transactions

Chase QuickAccept has no hidden fees. But there is a monthly service fee associated with the business checking account component of Business Complete Banking. Ordinarily, this fee is $15, but you can reduce it to $0 by meeting one of the following conditions each monthly statement period:

  • Maintaining a $2,000 minimum daily balance
  • Making $2,000 in purchases with a Chase Ink Business credit card
  • Receiving $2,000 in deposits through QuickAccept or other eligible Chase Merchant Services transactions
  • Linking a Chase Private Client account
  • Providing proof of military service as a veteran or active duty member

Chase Business Complete Banking allows 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, which includes a check scanner. You’ll pay a $25 monthly maintenance fee for a single feed check scanner or $50 a month if you choose a multiple feed check scanner option.

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 writing a paper check. After that, you’ll pay a $0.40 fee for each additional paper check or teller transaction.

Chase charges a $2.50 fee for transactions made at out-of-network ATMs in the U.S. The fee increases to $5 for withdrawals at ATMs outside the U.S. There’s also a 3% foreign transaction fee when completing transactions in currencies other than U.S. dollars. You’ll also pay a $5 card replacement rush fee if you request express shipping. Separate fees apply for wire transfers.

Your account comes with a debit card for convenient access to business funds. Chase imposes these limits on card transactions:

  • Daily purchase limit: $10,000
  • Daily Chase in-branch ATM withdrawal limit: $3,000
  • Daily other Chase ATM withdrawal limit: $1,000
  • Daily non-Chase ATM withdrawal limit: $500 (or $1,000 for accounts opened in CT, NJ, NY, TX)

There are also limits on deposits made through Chase QuickDeposit. If you’re using this feature, you can deposit:

  • $10,000 daily and $25,000 in a rolling 30-day period using the Chase Mobile app
  • $250,000 daily and $500,000 in a rolling 30-day period if you have a check scanner

Other Chase Business Complete Banking Accounts

In addition to Business Complete Banking with QuickAccept, Chase also offers Performance Business Checking and Platinum Business Checking. 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.

Another key difference is that with Chase Business Complete Banking, QuickAccept is included. If you want to use that feature with Performance Business Checking, you’ll need a separate merchant services account. And it’s not an option at all with Platinum Business Checking.

Distinguishing Features

Chase QuickAccept and Chase QuickDeposit can both make managing cash flow for your business easier. QuickAccept removes obstacles for accepting and processing card payments from customers so you can get paid virtually anywhere. You could use this feature to accept payments, whether you have a brick-and-mortar location or run a mobile business such as a food truck operation or a pop-up retail store.

The QuickDeposit feature also takes the hassle out of accepting check payments if you have customers or clients who’d rather pay by check versus card. Being able to deposit checks without visiting a branch can save you time, which can be an invaluable resource as a business owner.

Access on the Go

In addition to QuickAccept and QuickDeposit, you can also access your Business Complete Banking account online or through the Chase mobile app. With Chase digital banking, you can:

  • Check balances
  • Transfer funds between accounts
  • Schedule bill payments
  • Set up account alerts
  • Enroll in and view paperless statements
  • Schedule wire transfers
  • Move money through Chase QuickPay with Zelle

Chase allows you to access all of your business accounts online, including Business Complete Banking accounts as well as business savings accounts, CDs, business lines of credit and your merchant services account if you have one.

Currently, you can bank in person with Chase at over 4,700 branches and more than 16,000 ATMs.

If you need to speak to a person about your account, you can do so by calling Chase customer service at 1-800-242-7338. Technical support for online and mobile banking is available at 1-877-242-7372. You can sign in online to Chase Business banking and send a secure message or visit a Chase branch. Chase also offers support through its Twitter account, @ChaseSupport.

Pros

  • QuickAccept and QuickDeposit can help with streamlining business cash flow management
  • Low monthly service fee, which could easily be waived if you meet one of the requirements
  • Convenient access to online, mobile and branch banking, as well as an extensive ATM network
  • Deposit up to $5,000 in cash per statement cycle with no fee
  • Spend, pay bills, save and borrow in one place with Chase Business banking services
  • Chase mobile and online banking have a user-friendly interface
  • No minimum deposit to open an account

Cons

  • Opening an account could be inconvenient if you have to visit a branch to do so
  • You could get stuck paying the monthly service fee if you’re unable to have it waived
  • Transaction fees could also add up if you write a lot of paper checks or visit the teller frequently

How Chase Bank Stacks Up

Chase Business Complete Banking could be an attractive option for small business owners who are comfortable managing their money online.

Plus, the option to visit a branch or ATM means you can still get personalized service when and if you need it.

Compared to other business checking options, the monthly service fee is relatively low and may be easy to sidestep, making this Chase account competitive with banks that offer free accounts.

Features like QuickAccept and QuickDeposit can eliminate some of the headaches of making sure cash is moving smoothly through your business.

Whichever options you choose, establishing a small business checking account is one of the most important steps in starting and growing your business.

Frequently Asked Questions

Is Chase Bank FDIC insured?

Yes, JPMorgan Chase Bank, National Association is FDIC insured (FDIC# 628). Your Chase deposits are protected for up to $250,000 per depositor, for each account ownership category, in the event of a bank failure.

What's needed to open a Chase Business Complete Banking account?

You’ll need at least two forms of ID, including one that’s government-issued, as well as a Social Security number or Employer Identification number. You’ll also need to provide supporting documentation establishing your business type and funds to make your opening deposit.

Does Chase offer business savings accounts?

Yes, you can also open business savings accounts and/or certificate of deposit accounts with Chase.

What about business loans and credit cards?

Chase also extends business loans and business credit cards to qualified borrowers.

Can I open a Chase Business Complete Banking account online?

Yes, you do have the option to open a Chase Business Complete Banking account online if you operate as a sole proprietorship, corporation or single-member LLC. Other business types can schedule an appointment at the nearest Chase branch to complete account opening.

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Источник: https://www.forbes.com/advisor/banking/chase-business-complete-banking-review/

: Chase bank requirements to open a business account

Chase bank requirements to open a business account
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Steps to Setup a Business Bank Account

Chase Business Complete Banking Review

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℠ combines all the benefits of a checking account with features like Chase QuickAccept so you can accept payments on the go.

Whether you’re looking for your first small business checking account or you’re ready to make the switch to a new bank, here’s a closer look at what Chase Complete Banking has to offer.

Account Basics

Chase Business Complete Banking

Chase Business Complete Banking is a business checking account that’s paired with Chase QuickAccept.

This feature allows you to accept card payments from customers or clients as an integrated feature of your bank account. Chase QuickAccept allows same-day deposits into your Chase business checking account, with transparent pricing for processing card payments. The fee structure to accept payments is as follows:

Chase QuickAccept has no hidden fees. But there is a monthly service fee associated with the business checking account component of Business Complete Banking. Ordinarily, this fee is $15, but you can reduce it to $0 by meeting one of the following conditions each monthly statement period:

  • Maintaining a $2,000 minimum daily balance
  • Making $2,000 in purchases with a Chase Ink Business credit card
  • Receiving $2,000 in deposits through QuickAccept or other eligible Chase Merchant Services transactions
  • Linking a Chase Private Client account
  • Providing proof of military service as a veteran or active duty member

Chase Business Complete Banking allows 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, which includes a check scanner. You’ll pay a $25 monthly maintenance fee for a single feed check scanner or $50 a month if you choose a multiple feed check scanner option.

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 writing a paper check. After that, you’ll pay a $0.40 fee for each additional paper check or teller transaction.

Chase charges a $2.50 fee for transactions made at out-of-network ATMs in the U.S. The fee increases to $5 for withdrawals at ATMs outside the U.S. There’s also a 3% foreign transaction fee when completing transactions in currencies other than U.S. dollars. You’ll also pay a $5 card replacement rush fee if you request express shipping. Separate fees apply for wire transfers.

Your account comes with a debit card for convenient access to business funds. Chase imposes these limits on card transactions:

  • Daily purchase limit: $10,000
  • Daily Chase in-branch ATM withdrawal limit: $3,000
  • Daily other Chase ATM withdrawal limit: $1,000
  • Daily non-Chase ATM withdrawal limit: $500 (or $1,000 for accounts opened in CT, NJ, NY, TX)

There are also limits on deposits made through Chase QuickDeposit. If you’re using this feature, you can deposit:

  • $10,000 daily and $25,000 in a rolling 30-day period using the Chase Mobile app
  • $250,000 daily and $500,000 in a rolling 30-day period if you have a check scanner

Other Chase Business Complete Banking Accounts

In addition to Business Complete Banking with QuickAccept, Chase also offers Performance Business Checking and Platinum Business Checking. 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.

Another key difference is that with Chase Business Complete Banking, QuickAccept is included. If you want to use that feature with Performance Business Checking, you’ll need a separate merchant services account. And it’s not an option at all with Platinum Business Checking.

Distinguishing Features

Chase QuickAccept and Chase QuickDeposit can both make managing cash flow for your business easier. QuickAccept removes obstacles for accepting and processing card payments from customers so you can get paid virtually anywhere. You could use this feature to accept payments, whether you have a brick-and-mortar location or run a mobile business such as a food truck operation or a pop-up retail store.

The QuickDeposit feature also takes the hassle out of accepting check payments if you have customers or clients who’d rather pay by check versus card. Being able to deposit checks without visiting a branch can save you time, which can be an invaluable resource as a business owner.

Access on the Go

In addition to QuickAccept and QuickDeposit, you can also access your Business Complete Banking account online or through the Chase mobile app. With Chase digital banking, you can:

  • Check balances
  • Transfer funds between accounts
  • Schedule bill payments
  • Set up account alerts
  • Enroll in and view paperless statements
  • Schedule wire transfers
  • Move money through Chase QuickPay with Zelle

Chase allows you to access all of your business accounts online, including Business Complete Banking accounts as well as business savings accounts, CDs, business lines of credit and your merchant services account if you have one.

Currently, you can bank in person with Chase at over 4,700 branches and more than 16,000 ATMs.

If you free pet food pantry near me to speak to a person about your account, you can do so by calling Chase customer service at 1-800-242-7338. Technical support for online and mobile banking is available at 1-877-242-7372. You can sign in online to Chase Business banking and send a secure message or visit a Chase branch. Chase also offers support through its Twitter account, @ChaseSupport.

Pros

  • QuickAccept and QuickDeposit can help with streamlining business cash flow management
  • Low monthly service fee, which could easily be waived if you meet one of the requirements
  • Convenient access to online, mobile and branch banking, as well as an extensive ATM network
  • Deposit up to $5,000 in cash per statement cycle with no fee
  • Spend, pay bills, save and borrow in one place with Chase Business banking services
  • Chase mobile and online banking have a user-friendly interface
  • No minimum deposit to open an account

Cons

  • Opening an account could be inconvenient if you have to visit a branch to do so
  • You could get stuck paying the monthly service fee if you’re unable to have it waived
  • Transaction fees could also add up if you write a lot of paper checks or visit the teller frequently

How Chase Bank Stacks Up

Chase Business Complete Banking could be an attractive option for small business owners who are comfortable managing their money online.

Plus, the option to visit a branch or ATM means you can still get personalized service when and if you need it.

Compared to other business checking options, the monthly service fee is relatively low and may be easy to sidestep, making this Chase account competitive with banks that offer free accounts.

Features like QuickAccept and QuickDeposit can eliminate some of the headaches of making sure cash is moving smoothly through your business.

Whichever options you choose, establishing a small business checking account is one of the most important steps in starting and growing your business.

Frequently Asked Questions

Is Chase Bank FDIC insured?

Yes, JPMorgan Chase Bank, National Association is FDIC insured (FDIC# 628). Your Chase deposits are protected for up to $250,000 per depositor, for each account ownership category, in the event of a bank failure.

What's needed to open a Chase Business Complete Banking account?

You’ll need at least two forms of ID, including one that’s government-issued, as well as a Social Security number or Employer Identification number. You’ll also need to provide supporting documentation establishing your business type and funds to make your opening deposit.

Does Chase offer business savings accounts?

Yes, you can also open business savings accounts and/or certificate of deposit accounts with Chase.

What about business loans and credit cards?

Chase also extends business loans and business credit cards to qualified borrowers.

Can I open a Chase Business Complete Banking account online?

Yes, you do have the option to open a Chase Business Complete Banking account online if you operate as a sole proprietorship, corporation or single-member LLC. Other business types can schedule an appointment at the nearest Chase branch to complete account opening.

Was this article helpful?

Thank You for your feedback!

Something went wrong. Please try again later.

Источник: https://www.forbes.com/advisor/banking/chase-business-complete-banking-review/

Chase Business Checking Review
Is It Right For You? (Pros, Cons & More)

Chase Business Checking Review

Do you need a business bank account, but you don’t know who offers the features you want and the convenience you chase bank requirements to open a business account There are so many options for business banking these days that it’s difficult to discern which one’s right for your company.

As a supplement to your own research, my team and I invested many hours poring over the details of the best banks for business. Our goal is to provide you with the information you need to choose the best fit for you.

In this Chase business banking review, we’ll go over the pros and cons, pricing, features, customer reviews and more. Read on to find out if they’re a good choice for you!

Chase Pros & Cons

Pros of Chase

  • With 16,000 ATMs and more than 4,700 branches around the country, it’s easy to find a Chase banking center.
  • Chase’s mobile apps are user-friendly. Customer reviews for their mobile banking are overwhelmingly positive, which isn’t true for all of their major competitors. Additionally, they’re often on the leading edge of technological advancements in the banking industry.
  • Their 3 levels of business checking packages are targeted to suit small, medium and large businesses. No matter what your needs are, Chase has a checking account for you.
  • If you add a business credit card, you get access to some great rewards including cash back, travel rewards and much more.

Cons of Chase

  • Their top-tier Platinum Business checking account is expensive, with $95 per month in fees, and it still has a 500 transaction limit.
  • With savings rates that range from 0.05-0.15%, their interest rates aren’t the absolute lowest in the business, but they’re still pretty low.

I’ll give Chase a score of 4.0/5. I appreciate their great website and apps, and their easy accessibility to a local branch is a big plus as well. Ready to get started with Chase? Need to review our guide to the top business banks? Simply use the buttons below and you’re on your way!

Chase Pricing & Features

Chase gives you 3 options for business checking, and their packages are tailored for small, medium and large businesses. Let’s take a look at what they have to offer in their Business Complete Checking, Performance and Platinum checking packages:

Chase Business Complete Banking℠

The Chase Business Complete Checking Account has a $0 minimum deposit to open, $15 monthly fees, and benefits that include:

  • 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
  • Built-in card acceptance. Accept card payments anytime, anywhere in the U.S., and get transparent pricing with Chase QuickAccept(SM).
  • Same-day deposits with QuickAccept(SM). Free up the cash you need to keep your business moving forward with same-day deposits 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 Deposit(SM).
  • Convenient access to 16,000 ATMs and more than 4,700 branches.

Performance

What It Includes: 350 monthly transactions, $20 monthly fee waived with $50,000 average balance, $20,000 monthly cash deposits, 2 domestic wires per month.

Who It’s Right For: Growing companies with more demanding banking needs will do well with the Performance account.

Platinum

What It Includes: 500 monthly transactions, $95 monthly fee waived with $100,000 average balance, $25,000 monthly cash deposits, unlimited electronic deposits and incoming wires, 4 outgoing wires per month, Chase Platinum Business Service customer support system which grants you priority service.

Who It’s Right For: Large companies with complex banking requirements, who either don’t mind paying the $95 fee or have enough cash to maintain the $100,000 average balance to waive it.

Savings Accounts

Chase takes a unique approach to their business savings rates, with rates of just 0.04-0.05% for customers who don’t link the account to a Chase checking account. For those customers who have both, the rates are as follows:

  • $0-$9,999 balance: 0.05% APY
  • $10,000-$99,999: 0.10%
  • $100,000+: 0.15%

Finally, keep in mind that their business credit cards have some great perks like cashback and travel rewards.

Chase Customer Reviews

It can be hard to find honest customer reviews for business banking institutions, but one place where I consistently turn to is reviews of bank apps.

Chase does quite well in this area, as they have excellent average ratings on both Google Play and iTunes. It seems that many of their business customers enjoy the convenience afforded by Chase’s many physical branch locations, as well as how easy it is to manage multiple accounts.

Customer Reviews Last Updated 8-21-17

Conclusion: I’ll be honest, it’s rare to see such positive customer feedback for a major financial institution. I will say that I found some complaints about their service department, but that’s bound to happen anytime you’re dealing with a company this large (some unsatisfied customers always fall through the cracks). On the whole, customer feedback is quite good for Chase.

Considering how much time I’ve spent studying the best banks for business, I’ve figured out that some of them are simply better offers than others. Of course, the goal 5th 3rd bank hours near me still to discern which one has the best combination of features and convenience for you.

Chase is a good bank for business because of their easy accessibility and technological advancements. Still, it’s always smart to keep an eye on the competition, so let’s also look at my personal favorite, Spark Business by Capital One.

Pricing: Spark Business does not charge any fees, and they don’t have minimum balances on their business bank accounts.

Features: Chase has more than 4,700 branches nationwide, whereas Spark Business is a digital product that doesn’t have physical branch locations. However, Spark Business does give you access to 40,000+ ATMs, while Chase has 16,000. As for the savings accounts, Spark Business gives you a 0.40-1.00% APY which is far better than Chase’s 0.05-0.15%.

Customer Support: Considering the size and scope of these banks, customer service by default will not lead to 100% of their customers being satisfied. In my personal experience, both Chase and Spark Business are easy to get ahold of and have friendly, is there a home remedy for dog ear infection reps. Just know that not everyone has this same experience.

Experience: Capital One is the 8th biggest American financial institution, having opened back in 1988. On the other hand, Chase is the largest bank in the US, in business since 1877.

HERE’S A QUICK VISUAL

Service Fee Starts at $0

In Business Since 1988

Perfect for: Anyone looking for a startup-friendly, cost-effective business checking account

Visit Website

Frequently Asked Questions

How Easy Is It to Get Set Up?

You can’t open an account online, which means you’ll have to go to the nearest Chase location. While that’s a bit of a letdown, we’re sure it doesn’t take too long in person. And again, with more than 4,700 branches there’s bound to be one nearby.

What Perks Come with Checking Accounts?

Their Performance and Platinum accounts include wire transfers, and Platinum also includes their preferred customer service program.

How Are Deposits Made?

You can make deposits through their Chase Mobile app, at a branch near you or at one of their many ATM locations.

Should You Use Chase?

I’ll give Chase a score of 4.0/5. I appreciate their great website and apps, and their easy accessibility to a local branch is a big plus as well. Ready to get started with Chase? Need to review our guide to the top business banks? Simply use the buttons below and you’re on your way!

Источник: https://startupsavant.com/chase-business-checking-review

How To Open a Chase Checking Account

Banking / Checking Account

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Chase is the commercial banking division of JP Morgan Chase & Co. According to its website, the bank provides personal banking services, credit cards, mortgages and other financial services to nearly half of the households in the U.S.

If you’re interested in opening a Chase checking account, you can open one in a few minutes on the bank’s website or in a local branch. Here’s how:

How To Open a Chase Checking Account

Steps To Open

  1. Gather the Required Items and Information
    • Social Security number
    • Driver’s license or state-issued ID
    • Contact information, including your name, address, email address and phone number
    • Note: If you are opening a joint account, both you and the co-account holder need to provide this information.
  2. Choose a Checking Account
    • Chase offers several different checking account options. Preview them by going to the Chase website, then click the “Open Now” button for the account you want to open.
  3. Fill Out an Online Application
    • If you are a current Chase customer, you can sign in to your account and use a prefilled application to open a new account. If you are not a current Chase customer, complete and submit the online application.
  4. Fund the Account
    • Chase does not require a deposit to open an account. However, you have to fund the account within 60 days of opening.

Can You Apply in Person?

If you don’t want open an account online, you can always visit the nearest Chase branch and open a checking account in person. You’ll need to provide the same information and documents outlined in the previous steps.

If you want to open a joint account, applying in person is the only option. You and the co-account holder must go to the bank together.

Chase Checking Account Options

Chase offers four different checking account options. To determine which Chase checking account is right for you, review the details on each and note the key differences.

Chase Total Checking

The Chase Total Checking account offers access to 16,000 ATMs and more than 4,700 branches, as well as debit-card chip technology protection and 24/7 customer service. You also get online bill pay and mobile banking.

There is a monthly service fee of $12 for this account. However, Chase waives the monthly service fee if you meet requirements for direct deposit, minimum daily balance and/or beginning day balance.

Chase Secure Banking

Chase Secure Banking provides the services you need from a checking account. In addition to access to more than 16,000 ATMs and online banking services, this account comes with a chase bank requirements to open a business account waiver for counter checks and money orders.

There is a fixed monthly fee of $4.95 for this account that cannot be waived.

Chase Premier Plus Checking

This interest-bearing account offers priority service to customers, who get access to all Chase Total Checking benefits. Account-holders also get free checks and fees waived at non-Chase ATM transactions (up to four times per statement period).

Premier Plus account holders get other perks like a Chase First Banking account for children, a complimentary or discounted safe deposit box and no fees for paper checks. You can waive the $25 monthly fee by meeting certain requirements.

Chase Student Checking

Chase Student Checking offers three different accounts to meet student needs:

  • Chase First Banking: Available to ages 6 and older
  • Chase High School Checking: Available to students ages 13 to 17
  • Chase College Checking: Available to students ages 17 to 24

To open a Chase First Banking account, the child’s parent or guardian must have a qualifying Chase checking account. There is no monthly fee for this account. It comes with a debit card and access to Chase branches and ATMs.

Chase High School Checking and Chase College Checking accounts offer more services — namely access to online and mobile banking. There is a monthly fee for Chase College Checking, but this can be waived.

Chase’s Monthly Account Fees

Not all Chase checking accounts have monthly service fees, but those that do charge anywhere from $4.95 to $25. Some of these fees can be waived it you meet certain criteria. You can also get hit with fees for using non-Chase ATMs, replacing cards or making purchases outside the U.S.

You can avoid monthly service fees by maintaining minimum balance requirements, receiving qualifying direct deposits or linking your account to your Chase mortgage. Your deposit account agreement provides specific instructions on how to avoid fees on your account.

What Is the Minimum Balance for Chase Checking Accounts?

There is no minimum balance required to open a Chase checking account. However, you must fund the account within 60 days of opening it.

One of the ways to avoid service fees on some accounts is to maintain a minimum balance. Here are the requirements for those accounts:

  • Chase Total Checking: $1,500 beginning daily balance or $5,000 combined balance in the account linked with qualifying deposits or investments
  • Chase Premier Plus Checking: Average beginning daily balance of at least $15,000 in any combination of this account and linked qualifying deposits/investments
  • Chase College Checking: Average beginning day balance of at least $5,000 in any combination of this account and linked qualifying deposits/investments

Should You Open a Chase Checking Account?

If you’re thinking of can apple store gift cards be used for apple pay a new checking account, take a closer look at what Chase has to offer. It gives you the convenience of a national bank, including access to thousands of local branches and ATMs across the country. Chase also offers a variety of services such as mortgages, loans and credit cards.

Chase frequently offers promotions to attract new customers, and you might be able to snag a lucrative cash bonus just for opening a new account. Check out the latest Chase promotions before you choose a new account.

This article has been updated with additional reporting since its original publication. This content is not provided by Chase. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Chase.

Editorial Note: This content is not provided or commissioned by the bank advertiser. Opinions expressed here are author’s alone, not those of the bank advertiser, and have not been reviewed, approved or otherwise endorsed by the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.

About the Author

Kim Olson began her freelance career after first pursuing an editorial career in college textbook development. She has a background in medical and legal transcription. Since 2006, she has ghostwritten thousands of articles for a variety of online venues with a focus on consumer finance.

Источник: https://www.gobankingrates.com/banking/checking-account/how-open-chase-checking-account/

Chase Bank Business Account Review: Why We Caution against the Biggest Bank

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Published on November 06, 2020

Icon Last Updated Dark

Last Updated: several months ago

We updated this article with the latest account information from Chase Bank. Unfortunately, none of those updates really changed our mind about Chase Bank. In fact, the most notable change was that its interest rates got worse (which, to be fair, is true of most banks right now).

We what is the capital of the us state texas wanted to point out that―thanks to a change in Regulation D―the government no longer limits savings accounts to six transactions per month. Despite that change, Chase continues to self-impose that limit on its business savings accounts.

JPMorgan Chase & Co., better known as Chase Bank to its friends and customers, is the largest bank in the United States.1 No wonder you’re thinking about doing your business banking with this well-known giant.

But should you? Or should you take your business’s business to a different bank?

In this review, we’ll tell you all about Chase’s business bank accounts, its other financial products for business, and what customers have to say about it.

Oh, and we’ll let you know why we strongly recommend you take your business elsewhere.

Ready for the scoop?

Chase is best for businesses in Hawaii. (Maybe. If they have to.)

We want to be completely honest here: we have a hard time saying that Chase is best for anyone or anything.

In part, that’s because Chase doesn’t really have any standout features. Other banks have cheaper business bank accounts. You can find higher annual percentage yield (APY) on business savings accounts and CDs elsewhere. Its business financing is fine, but not the best. In other words, Chase is just kind of okay.

Then there’s that other thing: Chase’s long and storied history of, well, super sketchy stuff. Here’s a small sampling of things Chase has been sued for in the last decade:

  • Discriminating against black and Latinx mortgage borrowers2
  • Charging customers for credit monitoring they didn’t get3
  • Processing transactions out of order so it could profit from overdraft fees4
  • Improperly foreclosing or overcharging military members on their mortgages5
  • Conducting illegal business with customers in Iran, Sudan, Cuba, and Liberia6

Since you don’t have all day, we’ll stop there. But let us stress that there is much, much, much more where those came from. And sure, lots of banks have faced government action (yes, we’re talking about you, Wells Fargo and CitiBank!), but few have quite as many as Chase.

Feature

Chase

Online banking

Icon Yes Dark

Mobile banking

Icon Yes Dark

In-person banking

Icon Yes Dark

Branch locations

ATMs

24/7 support

Icon Yes Dark

Customer service options

And sure, those scandals may not have specifically affected Chase business banking customers. But with a history like that, we wouldn’t be surprised if the next scandal does. (Because given Chase’s track record, it’s safe to assume more scandals are coming.)

Plus, given that many of Chase’s lawsuits are about problems that directly affect the consumer—from fraudulent charges to inflated interest rates—we can’t just look the other way. This is your business we’re talking about, after all. We don’t want to let a bank scam you out of your hard-earned money, no matter how big and old that bank is.

Fortunately, the vast majority of states have better banks to choose from, so you can take your business dollars elsewhere.

Except Hawaii. Sorry, Hawaii.

us map showing states where chase is available: Alabama, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Texas, Utah, Virginia, Washington, Washington DC, West Virginia, Wisconsin

So if you’re in Hawaii, we might tentatively agree that if you really need a business bank account pronto and you don’t have time to shop around, you could possibly bank at Chase—so long as you watch your money like a hawk.

And even then, we really suggest you go with an online bank for small business instead, or perhaps your local credit union. Maybe go look at Hawaii Community Federal Credit Union, for example?

But if you still think you want to bank with Chase, despite our warnings, then we at least want you to be well-informed about what it has to offer. So let’s explore what products and services Chase has for small business.

Chase checking and savings accounts

As you’d expect from a big bank like Chase, you have choices between several different types of business checking and savings accounts. Let’s look at your checking choices first.

Chase has three business checking accounts (plus one interest-bearing checking alternative, if that’s your jam).

Chase small-business checking accounts

FeatureBusiness Complete BankingPerformance Business CheckingPlatinum Business Checking
Min. opening depositUnlistedUnlistedUnlisted
Monthly service fee$15$30$95
Monthly fee waivable?Icon Check DarkIcon Check DarkIcon Check Dark
APYN/AVariableN/A
ATM fees$0$0$0
Out-of-network ATM fees$2.50/transaction$0$0
Free transactions20250500
Additional transactions$0.40 ea.$0.40 ea.$0.40 ea.
Free cash depositsUp to $5,000Up to $20,000Up to $25,000
Cash deposit fee$2.50 per $1,000$2.50 per $1,000$2.50 per $1,000
Open an accountApply NowApply NowApply Now

Data effective 10/26/20. At publishing time, rates, fees, and chase bank requirements to open a business account are current but are subject to change. Offers may not be available in all areas.

Chase’s Business Complete Checking is its cheapest, most basic account. You can waive the chase bank requirements to open a business account fee by keeping a $2,000 minimum balance, linking it to a Chase Private Client Checking account, making $2,000 in purchases on a Chase Ink credit card, or by making $2,000 in merchant services deposits. You can also get a $3 discount on the monthly service fee by choosing paperless billing.

If you want more free transactions, higher free cash deposit amounts, and fewer ATM fees, you can go for Performance Business Checking. Just know that if you want to waive the monthly fee, you’ll need a daily average of $35,000 across your Chase business accounts.

You can also get an interest-bearing version: Chase Performance Business Checking with Interest. It’s pretty much the same account, just with the chance to earn some interest on your money. You can earn 0.01% APY on your Performance Business Checking account―certainly nothing to write home about. (By way of comparison, BlueVine’s free business checking account offers 1% APY.)

Finally, you have Platinum Business Checking. It gives you the most free transactions and cash deposits, but it has one of the highest monthly fees we’ve seen. And to waive that maintenance fee, you’ll need a daily average of $100,000 in your business banking or investment zillow homes for rent st cloud fl

Chase online banking

Info

Like most banks, Chase has both a website and a mobile app that you can use to access your business bank account online. Though, you’ll still need to visit a branch for some things (like depositing cash or opening an account).

These accounts don’t have the highest costs we’ve ever seen, but they’re far from the lowest we’ve seen. We’ve found cheaper rates and fees at both online banks for business and regional banks (like TD Bank). But Chase does sometimes offer deals for new business customers, like a $200 bonus when you open a checking account.

Is that enough to make up for its mediocre pricing? Up to you.

Chase also has some specialized checking accounts, including both analyzed checking accounts and escrow checking accounts for attorneys and real estate brokers.

Chase specialized business checking accounts

FeatureAnalysis Business CheckingAnalysis Business Checking with InterestIOLTA/IOTA/ IOLA/IBRETA/ IOREBTA/IRETA/ COLTAF/CARHOF/UARHOF
Min. opening depositUnlistedUnlistedUnlisted
Monthly service fee$25$25 $15 in IL or NY; $0 elsewhere
APYN/A0.01%0.18%
Transaction fees$0.20–$2 per item$0.20–$2 per item$0
Free cash depositsUp to $10,000Up to $10,000N/A
Cash deposit fee$2.50 per $1,000$2.50 per $1,000$2.50 per $1,000
Open an accountApply NowApply NowApply Now

Data effective 10/26/20. At publishing time, rates, fees, and requirements are current but are subject to change. Offers may not be available in all areas.

Its analyzed checking accounts work like any other analysis checking account, meaning you earn credit based on your account balance. Then that credit gets applied to your account fees. So if you keep a chase bank requirements to open a business account account balance, analysis checking accounts can offer a great deal. (For lower account balances, though, the fees can eat you alive.)

Chase offers two versions of its analysis checking: one earns interest, while the other doesn’t.

As for Chase’s escrow accounts? You just need to know that they comply with all the relevant regulations. (And if you don’t already know what these accounts are and how they work, that means that they don’t apply to you.)

In addition to its checking accounts, Chase also has a handful of savings accounts for you to choose from: two standard savings accounts and certificates of deposit (CDs). (If you want a money market account, you’ll need to go elsewhere.)

Chase small-business savings accounts

FeatureTotal SavingsPremier SavingsSmall-business CDs
Min. opening depositUnlistedUnlisted$1,000
Monthly maintenance fee$10$20N/A
Monthly fee waivable?
Icon Check Dark
Icon Check Dark

N/A

APY0.01%0.01%-0.05%0.01%–0.05%
TermN/AN/A1-120 mos.
Free cash deposits per cycleUp to $5,000Up to $10,000N/A
Cash deposit fee$2.50 per $1,000$2.50 per $1,000N/A
Penalty-free withdrawal

6/cycle

6/cycle

Icon Close Dark
Open an accountApply NowApply NowApply Now

Data effective 10/26/20. At publishing time, rates, fees, and requirements are current but are subject to change. Offers may not be available in all areas.

The Total Savings account has a monkey pod games magic money puzzle gift box monthly maintenance fee, which you can waive by keeping a $1,000 account balance. Another option for waiving the fee? Linking your Total Savings account to a Total Business Checking account. Pretty easy. While it does earn some interest, the APY for Total Savings is quite low.

For a shot at a higher (but still low) APY, you can opt for Premier Savings instead. In this account, the more you save, the higher your APY. And you’ll need a healthy account balance to waive the monthly service fee. Waiving the fee requires a $25,000 average balance, or you can link your account to a Performance Business Checking, Analysis Business Checking, or Platinum Business Checking account.

Note that Chase has a limit of six transactions per monthly cycle on its Total Savings and Premier Chase bank requirements to open a business account accounts. That used to be because of Regulation D, a federal rule that limited transactions on savings accounts. But now that the law has changed, Chase has kept its limit in place anyway. So if you make more than six transactions per month from your Chase savings account, you’ll get hit with a $5 fee per transaction.

Your final savings option? Chase’s certificates of deposit. But, uh, the APY on these isn’t that great. The starting APY is quite low, and even the maximum APY is way lower than you can find from other banks. And remember, you won’t be able to add or withdraw funds for the length of your term—between 1 and 120 months, depending on what term you choose.

Any of this sound tempting? Then let’s figure out if you should take the plunge to apply with Chase.

Reasons to bank with Chase

This is where we’d normally tell you about some cool feature that makes Chase stand out from the crowd. But as you may have noticed, we don’t have a ton of praise for Chase Bank.

Still, in the interest of fairness, we’ll tell you some reasons you might want to bank with Chase, despite our protestations.

For example, as we discussed above, you might live in Hawaii and have limited options. It happens.

Or maybe you already have and like a personal account with Chase. And you might find that Chase is just really convenient, like this business owner did:

Icon Quote Dark

“I chose [Chase] because I personally bank at Chase, which makes transfers between the accounts easier. I also received a $300 bonus when I opened my Chase business checking account, which sweetened the deal. There is also a branch very close to my house, which makes it convenient if I ever have to speak in person with a business banker.”

We get it—you’re a busy business owner. Maybe a nearby location to drop off cash deposits really matters to you. In that case, Chase might work well for your business.

And as Logan Allec noted, Chase often has special offers when you open a business checking account (only $200 as of this writing). So that’s another nice incentive for you.

Or maybe you’re just really into some of the other products Chase has to offer your business.

Other small-business products and services from Chase

Chase offers more than just banking. It also has a variety of financing (including loans, lines of credit, and business chase bank requirements to open a business account cards), plus some other services for business owners.

Chase is pretty cagey about its financing. If you want to apply—or get more information—you have to visit your local branch. Feels pretty inconvenient in this age of online lenders, doesn’t it?

(Other banks we’ve reviewed have prominent phone numbers and online chat options to answer any questions you have. Chase doesn’t.)

Compare Chase’s small-business lending

Loan type

Loan min./max.

Lowest listed rate

Term

Get a loan

Business Line of Credit

$10,000/$500,000

Unlisted

Revolving w/ 5 yr. renewal

Apply Now

Commercial Line of Credit

$500,000 and up

Unlisted

12–24 mos. renewable

Apply Now

Business Term Loan

$5,000 and up

Unlisted

12–84 mos.

Apply Now

Equipment financing

$10,000 and up

Unlisted

Up to 7 yrs.

Apply Now

Commercial Real Estate Financing

$50,000 and up

Unlisted

7–10 yrs.

Apply Now
SBA loansUp to $12.5 millionUnlistedUnlistedApply Now

Data effective 10/26/20. At publishing time, rates, fees, and requirements are current but are subject to change. Offers may not be available in all areas.

Chase doesn’t publish its small-business loan application criteria (again, you have to visit your branch to find out), but if it’s anything like other big banks, you’ll need a good credit score, at least a couple years in business, and revenue of at least $200,000. In return, you’ll probably get lower rates than you could find through an alternative lender.

One good thing about Chase’s lending? It’s an SBA preferred lender. So if chase bank requirements to open a business account been thinking about getting an SBA loan (a loan backed by the US Small Business Administration), Chase can help you get approved faster than many other lenders.

You can also get trade financing with Chase. But surprise! You’ll need to visit a Chase san jose mercury news paper to get any details on that.

Small-business credit cards

Aside from its loans and lines of credit, Chase also offers six business credit cards. You can get various types of rewards from these Visa cards, such as cash back and travel points. Plus, all six cards have point or cash bonus offers when you first open the card, though you may need to spend a certain amount to qualify.

As you pick your business credit card, keep in mind that several of these cards do have an annual fee. You may want to do some quick math and make sure you won’t end up paying more in annual fees than you’ll be earning in rewards.

Need a way to accept credit card payments? Enter Chase’s merchant services.

Chase has plenty of terminal options, including mobile credit card readers, standalone payment terminals, and even virtual terminals. You can also build your own point-of-sale (POS) system with its POS tablet and accessories (like a cash drawer and receipt printer).

And if you already have a terminal or POS system you like, you may be able to use Chase’s payment processing with your existing solution. A Chase payment specialist can help you figure out how.

Finally, Chase has a few more business services that may interest you:

  • Cash collection services
  • QuickDeposit desktop check scanner
  • Bill pay directory

What customers say about Chase

Chase has a pretty poor 1.3 out of 5 on Trustpilot,7 but it fares better on Bank Branch Locator, where it has a 3.1 out of 5.8

Many negative reviews complain about poor customer service, which isn’t unusual among the banks we’ve reviewed. More unusual? Allegations that Chase doesn’t honor its offers (like giving you chase bank requirements to open a business account for opening a business checking account) and complaints that Chase mishandles fraud cases. While we can’t necessarily verify these stories, they wouldn’t surprise us, given Chase’s legal record.

So what about the good reviews? While we saw some glowing reviews about Chase’s mobile app, most of the good reviews praise its customer service. In fact, when we asked small-business owners about their bank accounts, we got a couple positive reviews of Chase’s customer service. Like this one:

Icon Quote Dark

“[Chase is] great. The branch is always welcoming and friendly. I always have a short wait to see someone and most of the time they can resolve an issue while I'm in the branch. My only dislike is that the rates are so low that we don't get interest on the cash we have in the account.”

One last thing, while we’re on the topic of Chase’s reputation. When we wrote “Best Banks for Small-Business Checking” last year, Chase had an F with the Better Business Bureau (BBB) because of government action against it. Sometime in the past year, that score was upgraded to an A+, presumably because the case has been settled.9

That probably says more about how the BBB scores businesses than it does about how much you should trust Chase, though. (BBB scores often reflect how much a business is willing to pay rather than how good it is—learn more in our guide to the Better Business Bureau.)

Look, we’re pretty skeptical of Chase business banking—or more accurately, we’re pretty skeptical of Chase as a whole. It’s got a history of bad behavior, and we’ve seen better deals elsewhere.

So while Chase Bank offers plenty to businesses, like bank accounts, financing, and merchant services, we’d rather see you give your cash to a different bank.

But ultimately, you know your needs, you know your business, and you know what you’re comfortable with. At this point, the choice is yours. We just hope we helped you make it.

Want an alternative to Chase? Great! Check out our ranking of the best banks for small-business to find one.

Disclaimer

At Business.org, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.

Sources
1. Federal Reserve, “Large Commercial Banks.” Accessed October 26, 2020.
2. USA Today, “JPMorgan Pays $55M to Settle Mortgage Discrimination Lawsuit.” Accessed October 26, 2020.
3. Consumer Financial Protection Bureau, “CFPB Orders Chase and JPMorgan Chase to Pay $309 Million Refund for Illegal Credit Card Practices.” Accessed October 26, 2020.
4. Reuters, “JPMorgan Settles Overdraft Fee Case for $110 Million.” Accessed October 26, 2020.
5. Bloomberg, “JPMorgan Settles Military Mortgage Suits for $56 Million.” Accessed October 26, 2020.
6. U.S. Department of the Treasury, “Release of Civil Penalties Information - JPMorgan Chase Bank, N.A. Settlement.” Accessed October 26, first national bank new caney. Trustpilot, “Chase.” Accessed October 26, 2020.
8. Bank Branch Locator, “Chase Bank.” Accessed October 26, 2020.
9. Better Business Bureau, “JPMorgan Chase & Co.” Accessed October 26, 2020.

Chloe Goodshore

Written by

Chloe Goodshore

Chloe covers business financing and loans for Business.org. She has worked with many small businesses over the past 10 years, from video game stores to law firms. Those years watching frustrated business owners try to sift through their many options gave her a passion for breaking down complex business topics. She wants to help business owners spend less time agonizing over their businesses so they can spend more time running them.

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Источник: https://www.business.org/finance/banking/chase-bank-business-review/
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Everything you expect from a bank. And yet, fundamentally different.

  • Mobile banking app with over 100,000 5-star ratings

  • No minimum balance and easy-to-waive low fees1

  • Zero liability fraud protection2

Compare Checking Accounts
  • Strongest environmental policies of any major US bank3

  • Led by a CEO who is among just 6% of female bank CEOs

  • Stability that comes with being part of BNP Paribas, the ninth largest bank on the planet

See Why We Are Different
Источник: https://www.bankofthewest.com/

Chase Business Checking Account Review 2021

Chase Business Checking Accounts

Chase Bank offers a variety of checking account packages for small businesses. As one of the oldest banks in America, Chase has over 16,000 ATMs and more than 4,700 branches nationwide. Chase's user-friendly online banking and mobile app help rank this bank at the top of our list. 

Chase offers perks like waived monthly fees and higher interest rates when you link multiple Chase accounts together.

Our Approach: 

Selecting the best bank account for your business comes down to four things:

  • The type of business you have
  • The needs of your business
  • Bank requirements
  • Other perks

Chase Business Checking Accounts Summary:

  • Chase Business Complete Banking℠: Best account for small businesses. This is an affordable checking account with$0 minimum deposit to open, $15 monthly fees, and several other benefits.
  • Chase Performance Checking: Best account for medium-sized businesses. Monthly fees of $30 or $0 if you maintain an average daily balance of $35,000 across all qualifying accounts.
  • Chase Platinum Checking Account: The best account for large businesses. Monthly fees of $95 or $0 if you maintain an average daily balance of $100,000 across all qualifying accounts
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We recommend the Chase Complete Business Checking℠ account, learn more.

PROS

  • Access to over 16,000 Chase ATMs and more than 4,700 Chase branch locations
  • Low fees when opening an account
  • User-friendly online banking on Chase.com and mobile app
  • Higher interest rates and other benefits if you link multiple accounts together
  • Variety of packages tailored to different business sizes
  • Easy access to business loans and credit cards
  • Business debit card and business banking services are included

CONS

  • Their savings account interest rates aren’t as high as some of their competitors

How to Open a Chase Business Account:

  1. Gather your business formation documents (LLC banking resolution, employer identification number (EIN), and Articles of Organization) and government-issued identification.
  2. Visit a branch or apply online.
  3. Instructions for online banking will be provided. If you visit a branch a business banker will assist you with opening the account.

Types of Chase Business Accounts

Chase offers multiple pricing tiers. The Chase Business Complete Checking account is a low-cost entry-level checking account designed for new and small businesses. In comparison, their top-tier "Platinum" plan is intended for established companies with more consistent cash flow.

Base Features:

  • Access to Chase Online Banking and Chase Mobile Banking app
  • Chase business debit card, Deposit options, and ATM for easy access to funds
  • Domestic and international wire transfers
  • Chase military banking for service members

Chase Business Complete Banking℠

The Chase Business Complete Checking account has a $0 minimum deposit to open, $15 monthly fees, and benefits that include:

  • 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, chase bank account customer service maintaining a minimum daily balance or purchases on your Chase Ink® Business credit card
  • Built-in card acceptance. Accept card payments anytime, anywhere in the U.S., and get transparent pricing with Chase QuickAccept(SM).
  • Same-day deposits with QuickAccept(SM). Free up the cash you chase bank requirements to open a business account to keep your business moving forward with same-day deposits 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 Deposit(SM).
  • Convenient access to 16,000 ATMs and more than 4,700 branches.
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We recommend the Chase Complete Business Checking℠ account, learn more.

Chase Performance Checking

Chase Performance Business Checking costs $30/mo, or $0/mo if you maintain an average daily balance of $35,000 across all your qualifying business deposit accounts.

The Chase Performance account includes:

  • 250 transactions per month
  • Unlimited electronic deposits and incoming wire transfers
  • Two free outgoing domestic wire transfers per month
  • No additional charge for Positive Pay or Reverse Positive Pay

Cost:

  • $30/mo (+ $25 minimum opening deposit)
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Who should open a Chase Performance Account?

The relatively low monthly fee and standard transaction limit offered by Chase Performance Business Checking makes it a good choice for small and mid-sized businesses.

Chase Platinum Checking

Chase Platinum Business Checking costs $95/mo, or $0/mo if you maintain an average daily balance of at least $100,000 across all qualified business deposit or investment balances.

Chase Platinum also includes:

  • 500 transactions per month
  • $25,000 in cash deposits per month
  • No fees for incoming wire transfers or four highest outgoing wire transfers each month

Cost:

  • $95/mo (+ $25 minimum opening deposit)
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Who Should open a Platinum Checking Account?

Chase Platinum is designed for large businesses with a high volume of monthly transactions.

Other Chase Business Bank Accounts

Chase offers two savings accounts; one for businesses with lower balances and one for businesses with higher balances. You can also open a certificate of deposit account for high-interest savings.

Chase Total Savings

The Chase Total Business Savings account costs $10/mo, waived if you:

  • Keep an average balance of $1,000

This account also includes:

  • 15 monthly deposits
  • Maximum $5,000 in cash deposits per month
  • 0.01% APY

Cost:

  • $10/mo (+ $25 minimum opening deposit)
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Who Should open a Chase Total Savings Account?

The Chase Total Savings account is designed for companies with low savings balances. If you anticipate putting aside less than $25,000, Chase Total Savings should be a good match for you.

Chase Premier Savings

The Chase Premier Business Savings account costs $20/mo, waived if you:

  • Keep an average balance of $25,000

-OR-

  • Link it with a Chase Performance Business Checking®, Chase Performance Business Checking® with Interest or Chase Platinum Business Checking account

Premier Savings also includes:

  • 30 monthly deposits
  • Maximum $10,000 in cash deposits per month
  • 0.04% APY without a linked account; 0.06-0.13% APY with a linked account

Cost:

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Who should open a Premier Savings Account?

Chase’s Premier Savings tier is designed for big savers. If your business is putting in $25,000 or more at a time, then you could benefit from the Premier tier.

Chase Certificates of Deposit

Certificates of deposit are great for businesses looking to set some money aside for a specified length of time.

Chase’s certificates of deposit include:

  • No monthly fee
  • Minimum opening deposit of $1,000
  • A range of terms from 30 days to 10 years
  • Fixed-rate of return
  • FDIC insurance protection
  • Standard interest rates range from 0.01% to 0.70% while relationship rates are 0.02% to 1.75%. Rates depend on the amount of money deposited, length of term, and if you link a checking account

Cost:

  • $1,000 opening deposit, no monthly fee
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Who should open a Chase certificate of deposit?

If your business is ready to put some money aside, a Chase certificate of deposit may be a good option for you.

Chase Review Ratings

Value - 4.5/5

With several accounts to choose from, Chase has a lot of value to offer businesses of various sizes. Their user-friendly online banking and mobile app, high-interest rates, and waived monthly fees are among the perks they offer.

Customer Service - 4.5/5

Based on our experience, Chase’s customer service representatives are friendly, knowledgeable, and responsive. You can reach them via phone, email, and the secure message center. The only real downside is that unlike many other large banks, Chase doesn't offer an online chat feature.

Ease of Use - 5/5

The quality of Chase’s website and mobile app sets them apart from other banks. Compared to their competitors, Chase offers quite well-designed user interfaces and excellent user-experience overall.

Included Features - 4/5

Chase offers a solid set of features in each of their business bank accounts, as well as special benefits for customers who choose to link multiple Chase accounts together. However, they don’t offer interest rates as high as some online vendors.

Final Thoughts

Chase Business Banking might be right for you if you want good customer service, user-friendly mobile banking options, and access to 16,000 ATMs and more than 4,700 branches across the country.

Whether you’re running a brand-new small business, an established corporation, or anything in between, Chase has a bank account that will suit your needs.

Источник: https://howtostartanllc.com/reviews/chase-business-bank-account-review

Comments

  1. Masalh saya pasword transaksinya ke blokir,aku hrs gimna bang,tolong jwb,,,pdhl sya nulis pasword transaksinya bnr

  2. how do you verify your paypal acc? i linked my bank acc to my paypal acc and it didn’t work.

  3. Asset Yogi Hello I have international bank account in this country and this bank has swift code. Here is no problem. In India which bank charges less to send money abroad?

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