Why I’ll Never Consider Closing My Chase Business Complete Checking Account

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When I registered my business as an LLC while living in Portland, Oregon, I looked at local and regional banks, credit unions, online banks and nationwide banks when deciding on the best checking account for my needs. I have to admit I was a little surprised when I discovered that my best option was Chase, one of the biggest banks in the country.

Chase Business Complete Checking®

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• Intro Bonus $300Expires January 16, 2025 More Info

  Earn $300 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.

The Chase Business Complete Checking® account is an attractive option. It offers the convenience of one of the largest financial institutions in the country, and it frequently offers bonuses that are relatively easy to earn. While it does not allow you to accrue interest on your funds like some other popular small business checking accounts, it's still very much worth considering if you can meet the requirements to waive its monthly fees.

• Overview
• Pros & Cons

Overview

The Chase Business Complete Checking® account comes loaded with a valuable sign-up bonus and an assortment of helpful perks, so long as you can meet the requirements to waive its monthly fees. It’s a good fit for many business checking customers, regardless of business size.

Pros

• Generous signup bonus
• Several options to waive monthly fee
• Same-day deposits using QuickAccept℠ service
• Huge network of in-person branches and ATMs

Cons

• Monthly maintenance fee
• Overdraft fees are relatively high
• Limit on fee-free cash deposits and physical transactions

With the scale of a bank like Chase, you can get just about any banking need met under one roof and with one online login. While the rates and fees are not the best around, I found the overall account offering to be good enough that I’ve opened up additional accounts with Chase as my business has grown and evolved. And if you’re willing and able to complete a few qualifying activities, you could wind up enjoying a competitive bonus when you open a new Chase Business Complete Checking® account.

Here’s a look at why I have my business checking account at Chase and why it might be a good fit for your business too.

One of the Best Branch and ATM Footprints in the U.S.

While I’m a big fan of community credit unions and online banks, there’s something to be said about the ability to walk into a branch in most large cities in the U.S. to get help with my accounts in person. According to the Chase website, it has more than 4,700 branches in 38 states and Washington, D.C. Odds are there’s a Chase branch somewhere near you.

If you just need to deposit a check or want quick cash, you can skip the teller and head to a Chase ATM. Chase does charge fees for using ATMs outside of the Chase network, but my business doesn’t need cash all that often. Moreover, there are 15,000 Chase ATMs to choose from if I do need one.

Chase Can Handle Virtually Any Banking Need

Most small banks have a limited selection of business accounts, but Chase has products from solo-run side hustles all the way up to Fortune 500 multinational conglomerates. I personally fall into the small business camp, with just myself and a couple of contractors working for my company. When I first compared options for a small business checking account, Chase had an account almost perfect for my needs.

My business runs on a Chase Business Complete Checking account that has no recurring fees as long as I keep at least $2,000 in the account at all times, which isn’t a problem. The account includes unlimited electronic deposits, up to 100 transactions per month at no additional charge, up to $5,000 in monthly cash deposits with no charge and many useful online banking features. Read our full review of Chase Business Complete Banking.

Surprisingly Great Customer Service

When I think of big companies, I remember the bad customer service I’ve received from airlines, cable companies and yes, even banks. But I’ve had surprisingly great customer service from Chase in all of my personal and business dealings with the company.

While the customer may not always be right at Chase, I have found its customer service to be professional, friendly and fair. In addition to my business bank accounts, I have a long list of Chase personal and business credit cards. When I’ve needed help with any of my accounts, Chase has almost always made it an easy process to resolve my issues.

Chase Business Complete Checking Bonus: $300

For a limited time, Chase is offering new customers an opportunity to earn a $300 bonus when opening their Chase Business Complete Checking account.

Qualifying for the new Chase business account bonus isn’t difficult. But there are a series of qualifying activities and transactions you’ll need to complete after account opening to be eligible.

To qualify for the Chase business checking bonus you must:

• Be a new Chase business checking customer
• Open and fund a new account with at least $2,000 within the first 30 days from account opening
• Maintain at least a $2,000 minimum balance for 60 business days

You will also need to complete at least five qualifying transactions within the first 90 business days of opening your account. Qualifying transactions may include any of the following:

• Debit Card Purchases
• Chase QuickDeposits (Make mobile check deposits through the Chase Mobile app)
• Chase QuickAccept Deposits (Accept credit card payments through the Chase Mobile app)
• ACH Credits (Additional service fees of $25 per month for up to 25 payments may apply)
• Wire Transfers (Both credits and debits)

Fine Print of the New Account Bonus

• Bank bonuses are considered interest. At the end of the year, Chase will issue your business a 1099-INT for any bank bonuses that you earn.
• Your account must remain open for a minimum of six months. Should your account be closed before then, Chase will deduct the bonus at the time of closing.
• Take note that Chase limits customers to one new account bonus every two years. The date is based on your enrollment date, not the date that you receive the bonus.

Excellent Mobile and Online Banking Experiences

One of the biggest problems with smaller banks are their apps and websites. Some pay outside firms to give them a fully functioning online banking system, but oftentimes banks fall short. With Chase, I am almost always impressed with the digital experience.

I use the Chase app to check my balance and deposit checks multiple times per month. It also includes the ability to send near-instant payments for free with Zelle, which I use to pay my main virtual assistant. Again, size has its advantages. You definitely see these advantages in the Chase mobile app and on the Chase website.

Beware of Fees and Poor Interest Rates

Before you put on your mask and run into a local Chase branch for a socially-distanced account signup, take a few minutes to review the fees and rates. These are the biggest downsides of Chase accounts.

For example, my Chase savings account pays me just 0.01% APY, which is about as close to no interest as you can get. There’s also a monthly account fee of $15 unless you meet minimum balance requirements. If you’re able to avoid fees and don’t need to save a large balance, you’ll probably be fine at Chase. But if you have a ton of transactions or are worried about fees, there are some lower-fee options out there as well.

Chase Is a Great Choice for Small Business Banking

Small businesses have a lot to worry about. From payroll to inventory to customer service, there’s plenty to keep you busy as a small business owner. It's a good idea to choose a bank that makes things easy.

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That’s why I have my own business checking at Chase. It’s easy, I’m able to avoid most fees and they can handle virtually anything I need. If you have a small business and you’re shopping around for an account, the Chase Business Complete Checking account is definitely worth considering.