Chase business accounts have minimum balance requirements that vary by account type
Chase requires a minimum balance on most business checking accounts, but the amount depends on which account you choose. The Chase Business Basic Checking account has no minimum balance requirement. The Chase Business Platinum Checking account requires $2,500 to keep the account open without a monthly fee. The Chase Business Premier Checking account requires $25,000. If your balance falls below the required minimum, Chase charges a monthly maintenance fee—typically $15 to $25 depending on the account type.
The minimum balance is the amount you must maintain in the account at all times to avoid fees. It is not a deposit you make once; it is an ongoing requirement. If you drop below the minimum even for one day, you may be charged the monthly fee on your next statement. Some accounts waive the fee if you meet alternative conditions, such as maintaining a combined balance across multiple Chase accounts or setting up direct deposit.
Key Takeaways
- Chase Business Basic Checking has no minimum balance requirement and no monthly fee.
- Chase Business Platinum Checking requires $2,500 minimum balance to avoid a $15 monthly fee.
- Chase Business Premier Checking requires $25,000 minimum balance to avoid a $25 monthly fee.
- Some accounts waive the minimum balance requirement if you meet other conditions, such as maintaining a combined balance across multiple Chase business accounts.
- The minimum balance must be maintained every day; falling below it for even one day can trigger the monthly fee.
How Chase calculates your minimum balance
Chase uses your daily balance to determine whether you meet the minimum. This means the bank looks at what you have in the account each day and checks whether it meets the requirement. If your balance dips below the minimum on any single day during the statement period, you do not meet the requirement for that month.
Some Chase business accounts offer a combined balance option, which means you can count money held in other Chase business accounts toward your minimum. For example, if you have a Premier Checking account that requires $25,000 and you also have a Chase business savings account with $10,000, you may be able to count both toward the $25,000 requirement. Check your specific account terms, because not all account combinations may have access to.
What happens if you fall below the minimum
If your balance drops below the required minimum, Chase charges a monthly maintenance fee on your next statement. For Platinum Checking, this is $15 per month. For Premier Checking, it is $25 per month. These fees are charged automatically and appear as a line item on your statement.
The fee is charged once per month, not every day you are below the minimum. However, if you stay below the minimum for multiple months, you will be charged the fee each month. Over time, these fees can add up significantly. If you consistently cannot maintain the minimum, switching to an account with a lower requirement—or to Chase Business Basic Checking, which has no minimum—may save you money.
Ways to avoid the minimum balance fee
If you cannot maintain the required balance, Chase offers alternative ways to waive the monthly fee on some accounts. The most common option is direct deposit: if you set up payroll or government benefits to deposit directly into the account, Chase may waive the fee even if your balance falls below the minimum. The amount of direct deposit required varies by account type.
Another option is to maintain a combined balance across multiple Chase business accounts. If you have a savings account, money market account, or other Chase business products, the total balance across all of them may count toward your minimum. You typically need to link the accounts or enroll in this option through Chase online banking.
A third option is to move to a different Chase business account with a lower or no minimum requirement. Chase Business Basic Checking has no minimum balance and no monthly fee, making it a good choice if you want to avoid fees entirely. You can switch accounts online or by visiting a Chase branch.
Comparing Chase business accounts by minimum balance
| Account Type | Minimum Balance | Monthly Fee (if minimum not met) | Fee Waiver Options |
|---|---|---|---|
| Chase Business Basic Checking | None | None | N/A |
| Chase Business Platinum Checking | $2,500 | $15 | Direct deposit or combined balance |
| Chase Business Premier Checking | $25,000 | $25 | Direct deposit or combined balance |
When to choose an account based on minimum balance
If your business typically carries a low balance or has unpredictable cash flow, Chase Business Basic Checking is the safest choice. You will never be charged a monthly fee, and there are no conditions to meet. This account is designed for small businesses that want simplicity and no surprises.
If your business maintains a steady balance of at least $2,500, Platinum Checking may make sense. You get additional features like higher transaction limits and priority customer service, and you avoid the fee by keeping the minimum. If you can reliably maintain $25,000, Premier Checking offers the most features and the highest transaction limits.
If you are unsure which account fits your business, calculate your typical monthly balance over the past three months. If it consistently stays above $2,500, Platinum is worth considering. If it regularly dips below that, Basic Checking is the better choice to avoid unexpected fees.
Frequently Asked Questions
Can I have a Chase business account with no minimum balance?
Yes. Chase Business Basic Checking has no minimum balance requirement and no monthly maintenance fee. It is designed for businesses that want to avoid balance requirements entirely. You can open this account online or at a Chase branch.
What if I fall below the minimum for just one day?
Chase charges the monthly fee if your balance falls below the minimum on any day during the statement period. One day below the minimum counts as not meeting the requirement for that month. If you are close to the minimum, monitor your account daily to avoid unexpected fees.
Do I have to maintain the minimum balance in just one account?
No. Many Chase business accounts allow you to count balances across multiple Chase business accounts toward the minimum. You typically need to enroll in this option through online banking or by calling Chase. Ask which accounts can be combined for your specific account type.
If I set up direct deposit, do I still need the minimum balance?
Direct deposit can waive the monthly fee on some accounts, but it does not eliminate the minimum balance requirement itself. The fee is waived if you meet the direct deposit condition, even if your balance falls below the minimum. The amount of direct deposit required varies by account.
Can I switch from Platinum to Basic Checking if I cannot maintain the minimum?
Yes. You can switch to Chase Business Basic Checking online or at a branch. There is no penalty for switching accounts. Your account number will change, so you will need to update any automatic payments or deposits that are linked to your old account number.