Chase Total Business Checking account review
Global access for you and your employees makes it good for business.
finder.com’s rating: 2.8 / 5.0
Designed with small businesses in mind, the Chase Total Business Checking account offers global access and convenient features to keep small-biz owners focused on growth.
$15 per month
Minimum deposit to open
|Monthly fee||$15 per month|
|To waive the fee||Meet ONE of the following: |
• Have a $1,500 minimum daily balance
• Or maintain a linked Chase Private Client Checking or Chase Sapphire Checking personal account
Monthly service fee reduced to $12 when you’re enrolled in paperless statements
|Minimum deposit to open||$0|
|Intro or bonus offer||If you’re new to Chase, get $300 when you open this account and complete qualifying activities.|
|ATMs||16,000 Chase ATMs and nearly 4,900 branches|
|ATM transaction fee||$0|
|Out-of-network ATM fee||$0 at domestic non-Chase ATMs and $5 at foreign non-Chase ATMs|
|Foreign transaction fee||3%|
|Nonsufficient funds fee||$34|
Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.
Designed to meet the needs of small businesses, the Total Business Checking account is Chase’s most affordable checking option. It offers 100 free transactions and up to $5,000 in free cash deposits each billing cycle to help you keep your business active. Just watch out for fees and potentially long processing times.
What are the benefits of the Chase Total Business Checking account?
- Bonus for new customers. If you’re new to Chase, get $300 when you open this account and complete qualifying activities.
- No minimum deposit. There’s no minimum opening deposit requirement to open this account.
- Waived fees. Get 100 free transactions a month, up to $5,000 in free cash deposits each statement cycle and unlimited free electronic deposits.
- Access and Security Manager. Delegate cash management activities to employees without giving up control or security.
- Send and receive money. Access wire transfers, Chase QuickDeposit, bill pay, mobile banking and more.
- Easy access. Bank on the go with from an app or visit one of Chase’s 16,000 ATMs and nearly 4,900 branches.
- Military banking. Exclusive perks and waived fees for service members and veterans of the US military.
- Hands-on support. Customer service is available 24/7 for help whenever you need it.
- Next-day payment processing. If you’re a merchant who needs to accept credit cards in your store, you can get next-day payment processing when you link your Chase business bank account to your merchant services account.
Chase ATM network and fees
Chase makes it easy to access your money when you need it through an extensive network of more than 16,000 ATMs and nearly 4,900 branches.
Transactions at Chase ATMs and branches are free. But you may face fees for using ATMs outside the network.
What should I look out for?
Branches aren’t available in all states, and you’ll want to set up your account to avoid fees, among other potential drawbacks:
- Monthly service fee. You can reduce the standard $15 monthly fee to $12 with electronic statements or avoid it altogether each statement period by:
- Maintaining a $1,500 minimum daily balance.
- Linking a Chase Private Client Checking or Chase Sapphire Checking account.
- Overdraft fees. You’ll pay $34 for each transaction that overdraws your account.
- Limited online eligibility. Only sole proprietors can open this account online.
- Long processing times. Chase doesn’t process transactions on weekends, which can lead to longer processing time for transactions and payments.
- Limited branch availability. Chase only operates branches in 26 states.
If you’re unsure Total Business Checking is right for your small business, you can compare other small business checking options to find a better fit.
Compare with other business checking accounts
How do I apply?
Only sole proprietors can apply for this account online, or apply by phone or at a branch.
- Visit the Chase Business website, hover over Explore products and then click Business Checking.
- Scroll down to Total Business Checking and click Open Account .
- Sign in if you’re already a Chase customer, then choose between an individual or joint account.
- Choose your business type, and then click Next.
- Enter your personal information, verify all details and click Next.
- Choose your account options, fund your initial deposit and review the terms before submitting your application.
Otherwise, call 877-242-7372 or visit your local Chase branch to set up a new account with a customer service representative.
You must meet basic eligibility requirements to open this account:
- Valid Social Security or tax identification number
- Valid state-issued ID
- Valid US address
- Sole proprietor, if applying online
Prepare to submit personal and financial details with your application:
- Name and date of birth
- Business address and details
- Social Security or tax ID number
- Driver’s license or other state-issued ID
- Minimum $0 deposit
How do I deposit or withdraw my money?
Options depend on how you’re accessing your money.
- ATM or branch
- Direct deposit
- Check by mail
- Mobile check deposit through app
- Online and wire transfer
- Chase QuickDeposit
- ATM or branch
- Online or wire transfer
- Bill pay
What other business checking options does Chase offer?
Chase offers a suite of business checking accounts, if this one isn’t the right fit for you:
- Chase Performance Business Checking. Designed for midsize businesses, this account allows for more fee-free transactions and large cash deposits.
- Chase Platinum Business Checking. Ideal for larger businesses, this account allows even more transactions and large deposits, but with a higher monthly fee.
Frequently asked questions
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