Chase Business Checking Review: Is It Right for You?

Chase Bank, one of the largest financial institutions in the United States, offers a variety of business checking account options tailored for small businesses, larger enterprises, and non-profit organizations.

With branch locations nationwide, robust online banking tools, and unique options like same-day deposits and access to extensive cash management services, Chase offers business owners a full-service banking experience that combines convenience and flexibility.

Below, we’ll explore Chase Business Checking’s core features, account fees, and how it compares to other popular business banking services.

Chase Business Checking is a comprehensive banking solution for companies needing versatile services, both in-person and online. With options for low fees, business loans, and various cash-handling services, it’s popular with businesses that want to open a bank account that provides reliable access to physical bank locations and a wide range of financial products.

Chase Business Checking reviews: What users think of Chase

4.25/5

Chase Business Checking is highly rated for its easy access to branch locations, advanced security features, and the variety of account options. Users appreciate the integration with Chase’s cash management services, which can simplify payroll, accounting, and cash flow.

While some small businesses find the monthly fees high, they are generally waivable with minimum balance requirements or other qualifying activities.

NerdWallet: 4.5 out of 5 stars

Motley Fool: 4.0 out of 5 stars

Some customers note that cash deposit fees and requirements can be a drawback for small businesses with higher cash-handling needs. However, Chase’s network and resources generally support a seamless banking experience for larger businesses and those in need of physical branch access.

Chase Business Checking pricing structure

Chase Business Checking’s fee structure offers flexibility with waivable fees, competitive cash handling options, and scalable account types. Here’s an overview of the main fees and options:

• Monthly fees: Starting at $15, which is waivable by maintaining a minimum balance or meeting other qualifications
• Transaction limits: Up to 100 transactions per month at no charge, with fees for additional transactions
• ATM fees: Free access to Chase ATMs; fees may apply to non-Chase ATMs
• Cash deposit fees: Free for the first $5,000 per statement cycle; $2.50 per $1,000 after that

Chase’s pricing flexibility makes it ideal for businesses that can meet the monthly fee waiver requirements or that benefit from its additional services, such as payroll management and business credit options.

Chase’s key features

4.80/5

Chase offers a robust set of business banking features, catering to the varied needs of small and large businesses. Here’s a closer look at what sets Chase Business Checking apart:

Multiple account options

Chase provides various business checking accounts, including options for small businesses, enterprises, and non-profit organizations. This flexibility helps businesses choose an account that best aligns with their transaction volume and cash handling needs.

Waivable monthly fees

Monthly fees for Chase Business Checking accounts are waivable with qualifying minimum balances or a combination of certain banking activities. This helps small business owners avoid unnecessary costs while maintaining essential banking services.

Extensive branch and ATM network

With thousands of locations and ATMs nationwide, Chase makes it easy for business owners to manage transactions, cash handling, and account needs at physical branches, which can be beneficial for those in high-cash businesses.

Advanced cash and fraud management

Chase offers cash and check handling services for businesses with complex cash needs, along with fraud prevention tools such as Positive Pay and multi-user account access to help protect against unauthorized transactions.

Would our expert use Chase Business Checking?

4.90/5

Chase Business Checking is an excellent fit for businesses that benefit from physical branch access, need higher cash handling limits, or require fraud protection tools. Other online-only banks may offer lower-cost alternatives for companies that rely on digital transactions and need minimal cash handling.

With waivable fees, an extensive branch network, and additional services tailored to various business sizes, our Expert believes that Chase Business Checking is well-suited to businesses that value in-person banking and require services like cash deposits or advanced account protections.

Chase pros:

• Access to thousands of branches and ATMs nationwide
• Waivable monthly fees based on activity requirements
• Robust cash and fraud management tools for added security
• Multiple account types to meet the needs of diverse businesses

Chase cons:

• Monthly maintenance fees if requirements aren’t met
• Cash handling fees for higher deposit amounts
• Limited free monthly transactions

Conclusion

Chase Business Checking is a strong option for companies that value branch access, need higher cash handling capacities, and benefit from fraud management tools. While there are monthly fees, they’re often waivable, which can help businesses keep costs down while still enjoying a range of services and features that support in-person banking needs.

Alternatives to Chase Business Checking

If Chase Business Checking doesn’t fit all your needs, here are some free alternatives to consider:

Methodology

This review evaluates Chase Business Checking based on user ratings, fee structure, key features, and integration capabilities, with a comparison to similar banking services.

Frequently asked questions (FAQs)

How long does it take Chase to clear a business check?

Chase typically clears checks within one to two business days, depending on the amount and type of deposit. Some check types or larger deposits may take additional time to process.

What is the minimum balance for Chase business checking?

For Chase Business Complete Banking, the minimum balance to waive the monthly fee is $2,000. Other Chase accounts may have different requirements.

How long does it take for Chase to approve a business account?

Once you submit all necessary documents, Chase can approve business accounts within a few days, though timelines may vary based on business verification needs.

Will Chase cash my business check?

Yes, Chase will cash business checks for account holders. Non-account holders can also cash Chase-issued checks but may be subject to a fee.

This article was reviewed by our banking expert Robi Mansueto.