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Having local bank access is a necessity for many small businesses. The Chase Business Complete Banking℠ account can be your best option if you live near a Chase Bank. New applicants can earn a $300 cash bonus after completing qualifying activities.
Chase Business Complete Banking Review
Chase Business Complete Banking℠ is one part of Chase Bank’s entry-level business checking account options, now known as Chase Business Complete Banking. Through 2020, this banking product was known as Chase Business Total Checking. Its new name reflects the access to multiple Chase business bank features.
This checking account is part of the Chase Business Complete Banking service that also includes Chase QuickAccept to handle in-person card payments.
There is a $15 monthly service fee but it’s possible to waive this fee (more on that below).
Small business owners can apply for this account online or at a local Chase branch. However, this service isn’t available in Alaska, Hawaii, or the U.S. territories.
Related: Best Business Checking Accounts
New Chase Business Complete Banking applicants can qualify for a $300 signup bonus. This offer is valid until 4/15/2021.
Earn the $300 bonus by completing these activities:
- Open a Chase Business Complete Banking℠ account at a local Chase branch
- Deposit at least $2,000 in new money in the first 30 days
- Maintain a minimum $2,000 balance for 60 days
- Complete 5 qualifying transactions in the first 60 days
Chase defines qualifying transactions as debit card purchases, Chase QuickAccept deposits, Chase QuickDeposit, ACH (credits), and wires (credits and debits).
Unlike credit card signup bonuses, checking account bonuses are taxable. You will receive a Form 1099-INT for the signup bonus amount.
Note that you can only receive one new business checking account opening related bonus every two years from the last enrollment date and only one bonus per account.
Key Banking Perks
Below are some of the best Chase Business Complete Banking℠ features.
Several Ways to Waive Fees
Account-holders might be happy to know that there are several ways to waive the monthly service fee, including by making purchases on your eligible Chase Ink Business credit card. Maintaining a minimum daily balance is also a way to keep monthly service fees waived.
How to Waive the $15 Monthly Fee
The $15 monthly service fee is a nuisance, but it can be easier to waive this monthly service fee than other business banking products.
For example, you can waive the $15 monthly fee with one of these actions:
- Maintain a minimum daily balance of $2,000
- Spend at least $2,000 a month with qualifying Chase Ink Business credit cards
- Deposit $2,000 Chase QuickAccept transactions and/or eligible Chase merchant services
- Maintain a linked Chase Private Client Checking℠ account
Meeting the options to waive the $15 fee for Chase Business Complete Banking is a lot easier for most businesses.
Convenience With Chase QuickAccept
Receiving card payments for in-person transactions is another important reason to consider opening a Chase Business Complete Banking℠ account. Card payments may be accepted anytime, anywhere in the United States with QuickAccept.
QuickAccept is a free card reader with no recurring monthly fees or contracts. Instead, you pay a flat fee for each card payment:
- 2.6% plus $0.10 per dip, tap or swipe with QuickAccept mobile card reader
- 3.5% plus $0.10 for keyed transactions and no hidden fees
It’s possible to receive same-day deposits at no additional cost. Other third-party card readers may charge a fee to request same-day payments.
In the Chase Mobile app, business owners can also issue refunds, accept payments 24/7 from across the United States and track disputes.
It is easier to manage your account through Chase Business online and through the Chase Mobile app. Alerts can also be set up to help you keep track of account activity.
Additionally, account holders have access to unlimited electronic deposits, ACH, and Chase Quick Deposits.
Local Branch Access
Customers have access to the 4,700 local Chase branches and 16,000 ATMs across the United States for fee-free withdrawals.
Chase QuickPay with Zelle
Enrolling in Chase QuickPay with Zelle lets you send and receive online payments from clients and suppliers. It’s possible to use Chase QuickPay with non-Chase customers too.
Who Can Apply?
The following small businesses can apply for a Chase Business Complete Business account:
- Sole proprietorships
It’s possible to apply online or at a local Chase branch.
Positives and Negatives
This Chase Business Complete Banking review wouldn’t be complete without a list of pros and cons.
- Unlimited electronic deposits
- Access to Chase QuickAccept and Chase QuickPay
- Local Chase Bank branch and ATM access
- $300 signup bonus after completing qualifying activities (expires 4/15/2021)
- $15 monthly service fee (four options to waive each month)
- Bonus is taxable
Additional Chase Business Products
Having a Chase Complete Banking account can help business owners qualify for other Chase Business products.
Chase Business Credit Cards
Getting Chase business credit cards, even for established businesses, isn’t a guarantee. However, establishing a Chase Bank business relationship can improve the approval odds for getting a Chase small business credit card.
The Chase Ink card family earns Ultimate Rewards. If your business would earn more via a co-brand airline or hotel business travel credit card, know that those options also feature an exciting lineup.
Chase Business Total Savings Account
The information for the Chase Business Total Savings℠ account has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
Linking a Chase Business Complete Banking℠ account to a Chase Business Total Savings account waives the $10 monthly fee for the savings option. Otherwise, you must maintain a $1,000 balance in the Business Total Savings account to waive the $10 monthly fee.
Two savings account benefits include 15 free monthly deposits and up to $5,000 in monthly cash deposits.
Chase business customers can also qualify for these two business lending options:
- Business loans: starting at $5,000
- Business lines of credit: starting at $10,000
Other financing options include SBA, equipment, trade, and commercial real estate financing. However, the minimum loan amount varies by loan type.
The Chase Business Complete Banking℠ suite can be the best overall small business banking option from Chase Bank. It’s easy to waive the monthly fees while also having local branch access. However, businesses with a high cash balance or frequent transactions may be better choosing a mid-tier or premier business checking option with more complimentary perks.
- What Bank Has the Best Signup Bonus?
- Best Business Credit Card and Business Checking Account Combos
- The Best Chase Checking Accounts
Chase Sapphire Preferred® Card
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases.
- 2X points on dining at restaurants including eligible delivery services, takeout and dining out and travel & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Earn 2x total points on up to $1,000 in grocery store purchases per month from November 1, 2020 to April 30, 2021. Includes eligible pick-up and delivery services.
The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.
Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.