Choosing a business bank account usually begins with the question of how much it will cost to keep the account running? Chase is a popular option for US businesses, but its business checking accounts come with different fees, transaction limits and waiver conditions, so the cheapest-looking option is not always the best fit.
Chase currently offers three main business checking accounts: Business Complete Banking, Performance Business Checking and Platinum Business Checking. They are designed for businesses at different stages, from a small operation handling regular deposits and payments to a larger business with higher transaction volumes.
The important part is knowing what you are getting for the monthly fee. Depending on the account, Chase may waive the fee when you meet certain balance, deposit or activity requirements. Understanding those conditions before opening an account can help you avoid paying for features your business does not need.
Which Chase business checking account fits your business?
Chase currently has three main business checking tiers, aimed at different stages of business growth.
Business complete checking
This is best if you’re starting or running a small business. The $15 monthly fee can be waived in several ways, including maintaining a $2,000 minimum balance. You also get tools such as QuickAccept for taking card payments.
Performance business checking
This is a better fit once your business has more money moving through the account. It has a $40 monthly fee, waived with qualifying average balances of $35,000. You also get up to 250 monthly banker-assisted transactions and incoming wires at no additional charge.
Platinum business checking
It's built for established businesses with heavier transaction and cash-management needs. The $95 monthly fee can be waived with a $100,000 average beginning-day balance, or $50,000 with certain linked Chase accounts. It includes up to 500 banker-assisted transactions and $25,000 in branch cash deposits without additional charges.
How do Chase business checking accounts compare?
The right Chase account depends on how much money your business keeps in the bank and how often you make deposits, payments and other transactions.
| Account |
Monthly fee |
How to waive it |
Transaction allowance |
Free cash deposits |
Chase business
complete checking |
$15 |
Keep $2,000 minimum daily balance or meet other qualifying conditions |
Unlimited electronic; 20 non-electronic transactions |
Up to $5,000 per cycle |
Chase performance
business checking |
$30 |
Maintain $35,000 combined average daily balance |
Unlimited electronic; 250 non-electronic transactions |
Up to $20,000 per cycle |
Chase platinum
business checking |
$95 |
Maintain $100,000 combined average daily balance |
Unlimited electronic; 500 non-electronic transactions |
Up to $25,000 per cycle |
In simple terms: Business Complete suits smaller businesses with lighter activity. Performance makes more sense when you have larger balances and more transactions. Platinum is aimed at established businesses moving substantial amounts of money.
Chase business banking features and benefits
Online and mobile banking
Chase gives you several ways to manage the account without constantly visiting a branch.
- Chase Business Online lets you view transactions, download account activity and set access controls for employees.
- The Chase Mobile app includes Chase QuickDeposit, so eligible business owners can deposit checks by taking a photo.
- Built-in invoicing tools allow you to create, customise and send invoices digitally, including by text.
Business cards and employee spending
Chase also gives you more control when other people need to spend or deposit money on behalf of the business.
- Business debit cards include chip security and transaction alerts.
- Employee deposit cards can be restricted to deposits at Chase ATMs and branches.
- Additional employee debit cards can be issued with individual spending limits.
Payments and integrations
Chase can connect your banking with other parts of your business.
- Chase QuickAccept lets you take card payments through your phone or a compatible card reader.
- E-commerce businesses can connect to supported payment platforms, including Authorize.net.
- Chase also provides payroll and other payment services to help manage business operations.
Also read: Bank of America business account: Fees, features and how to open
How to open a Chase business account
Opening a Chase business account is mostly about having the right information ready. The exact process depends on your business structure, and not every business type can apply online.
- Check your eligibility: Choose the business account that suits you. Business Complete Checking can be opened online or in a branch, while some other Chase business accounts require a branch visit.
- Prepare your documents: You will generally need two forms of ID, including one government-issued ID, plus your SSN, ITIN or EIN. Chase may also request business registration documents, such as formation papers or a DBA certificate.
- Provide business details: Be ready to explain what your business does, where it operates, expected sales, number of employees and the types and volume of transactions you expect.
- Apply online or visit a branch: If your business qualifies for online opening, complete the application through Chase. Otherwise, schedule a branch appointment and bring the required documents and people who need to be present.
Also read: Can non-residents open a US bank account online in 2026?
What are the best alternatives to Chase business banking?
Digital business banking providers and credit unions can offer a different experience from a traditional bank like Chase. The best choice depends on whether you value online banking, international payments, low fees or access to local branches.
Mercury business banking
Mercury is a digital business banking platform built mainly for online businesses and startups.
- Best suited for: Tech startups, e-commerce companies and venture-backed businesses
- Main advantage: $0 monthly fees, no transaction limits and strong software integrations
- Best fit if: You want to manage your business entirely online and connect banking with accounting or financial tools.
Wise business
Wise Business is designed for companies that regularly send or receive money internationally.
- Best suited for: International freelancers, agencies and import/export businesses
- Main advantage: Mid-market exchange rates and local account details in multiple currencies
- Best fit if: You regularly receive foreign currencies or pay contractors overseas.
Novo business banking
Novo is a digital business banking option for small businesses and independent workers.
- Best suited for: Solo entrepreneurs, contractors and small service businesses
- Main advantage: Free invoicing and integrations with popular business apps
- Best fit if: You want simple online banking without relying on physical branches.
Local credit unions
Credit unions are member-owned financial institutions that can provide more personalised local banking.
- Best suited for: Cash-heavy retailers, local shops and family businesses
- Main advantage: Personalised service and potentially lower cash-deposit costs
- Best fit if: You handle significant physical cash or expect to need local business lending.
Grey Business Banking
Grey Business is designed for businesses that work across borders, particularly SMEs, agencies, startups and digital teams serving international clients.
- Best suited for: Businesses in emerging markets receiving international payments and managing overseas clients or teams.
- Key advantage over Chase: No monthly maintenance fee, with access to virtual USD business accounts without requiring a physical US operating address.
- Best fit if: You need a simpler way to receive and manage international business payments without setting up traditional banking infrastructure in another country.
A simpler way to manage cross-border business payments
Chase can be a strong choice for running a US-based business, but international money movement can require a different setup. If you receive payments from clients abroad, pay overseas contractors or regularly move money between countries, a traditional US business account may not cover everything you need.
Grey is a multi-currency financial platform that can complement your business banking setup. Instead of converting every international payment immediately, you can use supported currency accounts to receive and manage money, then convert currencies when needed through the Grey app.
For example, a US business receiving money from an international client could receive the supported currency through Grey, convert it and then use the funds for other payments. Grey also lets eligible users send money across supported countries, which can be useful when paying suppliers, contractors or moving business funds internationally
Chase works well for businesses that mainly operate in the US, but international payments can introduce extra steps. If clients pay from overseas or contractors work in other countries, moving money between accounts and currencies can become more complicated than expected.
Grey can sit alongside your Chase account to make the international side easier. With supported currency accounts, you can receive and hold foreign currency before deciding when to convert it, rather than converting everything immediately.
Frequently asked questions about Chase business accounts
What does a Chase business account cost?
Chase business checking fees depend on the account you choose. Business Complete Checking currently has a $15 monthly fee, while Performance and Platinum accounts cost more but offer higher transaction and cash-deposit allowances. Some fees can be waived if you meet specific balance or activity requirements.
How can you avoid the Chase business checking fee?
The easiest way depends on your account. Business Complete Checking's $15 fee can be waived through qualifying activities, including maintaining the required balance. Performance requires a qualifying $35,000 average balance, while Platinum generally requires $100,000 or a lower balance with certain linked Chase accounts.
Can you open a Chase business account online?
Yes, eligible businesses can apply online, although some business types or applications may require a branch visit. Online applicants provide ownership, tax and business information and may need to upload identification or registration documents. Chase's online process also asks about how the business operates and expects to use the account.
What documents do you need to open one?
Expect to provide government-issued identification, your SSN, ITIN or EIN, and information about owners. Chase may also request formation documents, business licences, Articles of Organisation or a DBA certificate, depending on your business structure. Requirements vary, so prepare your registration documents before starting the application.
Does Chase support international business transfers?
Yes. Chase business accounts can send and receive international wires, although fees vary by account and transfer method. For example, Performance Business Checking currently charges $40 for outgoing international USD wires made through chase.com, while qualifying international FX transfers can cost less.
What are the alternatives to Chase business banking?
If your business operates internationally, you may want something built around cross-border payments rather than traditional US banking. Digital providers such as Mercury, Wise Business or Novo can suit online businesses, while a multi-currency platform such as Grey can complement your bank account for international money management.
.svg){kind=small}
