Chase offers business checking accounts with no monthly maintenance fee, but the account you choose and what you do with it determines whether you actually pay nothing
Chase's Chase Business Basic checking account has no monthly service charge. That is the straightforward answer. But "free" in banking usually comes with conditions — minimum balances, direct deposit requirements, or transaction limits — and Chase's business accounts are no exception. Understanding which account fits your business and what triggers fees is what actually saves you money.
Chase also offers Chase Business Complete and Chase Business Unlimited, both of which have monthly fees unless you meet specific requirements. If you are comparing accounts, you need to know not just the base fee but what waives it, because the wrong choice can cost you $15 to $25 per month even if a free option exists.
Key Takeaways
- Chase Business Basic has no monthly service charge under any circumstance, making it truly free if you need a straightforward business checking account.
- Chase Business Complete and Chase Business Unlimited both charge monthly fees ($15 and $25 respectively) unless you maintain a minimum daily balance or meet other conditions.
- The free account has limits on certain transactions, so if you write many checks or make frequent transfers, a paid account with higher limits may cost less in the long run.
- All Chase business accounts require an Employer Identification Number (EIN) or Social Security Number, a business license or formation documents, and an initial deposit to open.
What Chase Business Basic includes and what it does not
Chase Business Basic gives you a checking account with no monthly fee, unlimited check writing, and online and mobile banking. You can deposit checks through your phone, set up automatic bill pay, and receive a debit card. For a sole proprietor or small business with straightforward banking needs, this covers the essentials.
The account does have transaction limits. You get up to 100 transactions per month (checks written, transfers, and ACH payments combined count toward this limit). If you exceed 100 transactions in a month, Chase charges $0.50 per transaction over the limit. For most small businesses, 100 transactions monthly is enough — that is roughly 23 checks per week — but if you process payroll, pay many vendors, or handle high customer volume, you may hit the ceiling.
Chase Business Basic does not include a business credit card, merchant services, or investment products. If you need those, you would add them separately or consider a different account tier.
When Chase Business Complete or Unlimited might cost less despite the monthly fee
Chase Business Complete costs $15 per month but waives the fee if you maintain a $2,500 minimum daily balance or set up a direct deposit of at least $500 per month. It includes unlimited transactions, which matters if you regularly exceed 100 per month. At $0.50 per overage transaction, you would need 30 transactions over the limit each month for the $15 fee to equal what you would pay in overages on the Basic account.
Chase Business Unlimited costs $25 per month with no waiver options, but it includes unlimited transactions, a business credit card with no annual fee, and merchant services discounts. If you use Chase for credit processing or need the card for business expenses, the bundled services may justify the cost.
The decision comes down to your actual transaction volume and whether you can maintain the minimum balance. If you write 150 checks per month and keep less than $2,500 in the account, Business Basic's $15 in overages ($0.50 × 30 transactions) costs less than Business Complete's $15 monthly fee — but only barely. If you write 200 checks monthly, Business Complete becomes cheaper.
How to open a Chase business checking account
You can open an account online, by phone, or in person at a Chase branch. Online is fastest and requires no appointment. You will need your Social Security Number or Employer Identification Number (EIN), a government-issued ID, and your business formation documents (articles of incorporation, partnership agreement, or sole proprietorship documentation). Chase also asks for your business address and the names and ownership percentages of all owners.
You must make an initial deposit to open the account. The minimum deposit amount varies by account type and changes periodically, so check Chase's current requirements when you are ready to open. Most business accounts require $100 to $500 to start. You can fund the account with a check, wire transfer, or ACH transfer from another bank account.
After you submit your information online, Chase reviews it and typically confirms approval within one business day. Your account number and routing number arrive by mail within 5 to 7 business days, though you can begin using the account online when ready while you wait for your debit card and checks.
Fees that can appear even on the free account
Chase Business Basic has no monthly service charge, but other fees can still explore. If you overdraft your account, Chase charges $35 per overdraft (up to three per day). If you use an out-of-network ATM, you pay $3 per withdrawal. If you request a wire transfer, domestic wires cost $15 and international wires cost $45. If you stop payment on a check, that costs $30.
These are not hidden — Chase discloses them in the account agreement — but they are straightforward to overlook when comparing accounts. If you frequently use ATMs outside the Chase network or send wire transfers, those costs add up faster than the monthly fee on a higher-tier account.
Comparing Chase business accounts side by side
| Feature | Business Basic | Business Complete | Business Unlimited |
|---|---|---|---|
| Monthly fee | $0 | $15 (waived with $2,500 minimum balance or $500 direct deposit) | $25 (no waiver) |
| Transactions per month | 100 included; $0.50 per transaction over | Unlimited | Unlimited |
| Check writing | Unlimited | Unlimited | Unlimited |
| Online and mobile banking | Yes | Yes | Yes |
| Business credit card included | No | No | Yes |
| Merchant services discounts | No | No | Yes |
Frequently Asked Questions
Can I switch from one Chase business account to another without closing and reopening?
Yes. Contact Chase by phone or visit a branch and request an account conversion. Chase converts your existing account to the new type, and your account number and routing number stay the same. Your checks and automatic payments do not need to be updated. The conversion is usually when ready.
Does Chase Business Basic include a debit card?
Yes. You receive a business debit card with the account. You can use it to withdraw cash at Chase ATMs (free) or out-of-network ATMs ($3 per withdrawal). You can also use it for in-person purchases, though most businesses use it primarily for ATM access and emergency spending.
What happens if I go over 100 transactions in a month on Business Basic?
Chase charges $0.50 for each transaction over 100. If you have 120 transactions in a month, you pay $10 in overages. Transactions include checks written, ACH transfers, bill payments, and internal transfers — but not deposits or ATM withdrawals.
Do I need an EIN to open a Chase business account, or can I use my Social Security Number?
You can use either. Sole proprietors often use their Social Security Number. Partnerships, corporations, and LLCs need an EIN. If you do not have an EIN yet, you can obtain one free from the IRS website (irs.gov) in minutes, or you can explore during the Chase account opening process.
Are there any Chase business accounts with no transaction limits and no monthly fee?
No. Chase Business Basic is the only account with no monthly fee, but it includes the 100-transaction monthly limit. If you need unlimited transactions with no monthly fee, you would need to look at other banks or maintain the $2,500 minimum balance on Business Complete to waive its $15 fee.