Chase Business Complete Checking Account (Previously Chase Total Business Checking) Overview
Choosing a business bank account can feel overwhelming and all the fine details can sometimes be hard to find and compare, that’s why we’ve written this review of Chase Business Complete Checking to help make it easier for you to choose a home for your business finances.
Chase is one of the most popular business checking account options for small businesses, but even Chase offers several options to choose from. This business checking account is designed specifically for new—but growing—businesses to easily manage cash flow.
Chase Business Complete Checking Account Details
Just like with any business checking account, with the Chase Business Complete checking account, you’ll need to parse through the numbers to see whether it’s the right financial decision for your business. Here are some of the specifics about this Chase business checking account.
This Chase business checking account comes with a $15 monthly fee, but there are multiple ways to waive it.
This fee will be waived if you:
- Maintain a $2,000 minimum daily balance in your account
- Have a linked Chase Private Client Checking account
- Receive $2,000 in deposits from Quick Accept transactions or other eligible merchant services solutions
- Make Chase Ink Business credit card purchases of at least $2,000
Chase offers military benefits as well and will waive the monthly service fee on the account for veterans.
With this business checking account option, you’ll get unlimited free electronic deposits and deposited items including ACH and ATM transactions, internal transfers, and Chase QuickDeposit transactions.
You’ll get up to 20 deposits and withdrawals made with a teller and paper checks written on the account per month, $0.40 each thereafter.
This is a small fee beyond the cap, but it can certainly add up. If your small business is making many transactions per month, then consider looking for a business account with a higher cap on the number of transactions you can make per month for free.
With the Chase Business Complete Checking account, you’ll be able to make up to $5,000 in cash deposits every month without having to pay a fee. After that first monthly $5,000 of cash deposits, you’ll have to pay standard cash deposit fees.
Though $5,000 of cash deposits per month might sound like a lot, relative to your other business checking options, it’s a pretty modest allowance.
So, if your business is dealing with a lot of cash per month, then this account might not be the best fit.
Chase’s new business checking account allows incoming and outgoing wires that are both domestic and international.
That said, this business checking option will always charge you a standard wiring fee for any wire you send or receive, so you won’t have a monthly amount of free wires.
If your business needs to make a certain number of wires every month, then you might want to look for a business checking account that allows for a certain number of free wires every month.
The cost for wire transfers with Chase are:
- $25 for domestic wires sent through Chase.com
- $35 for domestic wires sent through a Chase branch
- $40 for international U.S. dollar wires sent through Chase.com
- $5 for international foreign currency wires sent through chase.com (waived if wire is equivalent to $5,000 USD or more)
- $50 for USD or foreign currency wire sent through a Chase branch
Here are some other features included with the Chase Business Complete account:
- Built-in access to Quick Accept, which allows you to accept debit and credit card payments virtually with the Chase mobile app; offers pay as you go pricing and same-day deposits
- Alerts to manage your account activity
- Check monitoring services to track check payments or returns
- $300 welcome bonus for opening a new account with qualifying activities
Chase Business Complete Checking Advantages and Disadvantages
Now that we’re clear on all of the basics of Chase Total Business Checking, let’s look at whether they are advantages for your business or disadvantages.
Remember though, the Chase Total Business Checking account is for businesses that don’t need to perform a huge amount of checking account activity every month. As such, the account’s perks and downsides will all flow from this fact—its advantages will be, by and large, advantages for small businesses, whereas, its disadvantages will be mostly disadvantages for larger businesses.
Here are some of the advantages:
Low Service Fee and Threshold to Waive It
With Chase Bank Business Complete Checking, you’ll have to pay a monthly service fee of $15, though there are multiple ways to waive.
However, if your daily balance hits just $2,000 or above, Chase will waive this service fee. Veterans can also have the fee waived on their account.
These low fees and low account balance threshold for waiving them are ideal for small businesses who aren’t ready to shell out tons of money for a business checking account.
Transactions With No Fees
With the former Chase Business Complete Checking, you can perform 20 teller or paper transactions per month without a fee.
Additionally, you’ll also gain access to free, unlimited non-wire electronic deposits. So if you’re doing a lot of your business spending electronically, then you won’t have to worry about this transaction cap.
If your small business comfortably performs 20 teller or paper transactions per month or fewer, then this account could be the ideal business account for you.
Cash Deposits With No Fees
Another positive of Chase Business Complete Checking is that you’ll be able to deposit your business’s cash—up to $5,000 each month—for no fee at all.
If you end up having to deposit more than $5,000 in one month, though, you’ll have to pay standard cash deposit fees beyond that cap. Thus, this is really only a positive for small businesses that don’t deal with many cash transactions on a monthly basis.
While Chase is still a traditional bank with physical branches you can visit for your banking needs, you’ll also have access to a host of digital banking solutions when you sign up with a Chase Business Complete Checking account, which means you can count on having access to Chase’s website 24/7/365.
This means banking day-in, day-out, whenever you need to manage your business’s finances. No more adhering to bank hours when managing your business’s finances.
With Chase Business Complete Checking’s digital tools, you can make payments securely online, access electronic statements, manage alerts on your account, transfer money, and more.
Now that we’ve highlighted some key features that we think make the Chase Business Complete Checking account so special, we’ll take some time to review some of its disadvantages.
It’s important to note that the Chase Business Complete Checking account is designed specifically for small but growing businesses.
Most of the downsides of the Chase Business Complete Checking account could be due to it being tailored to smaller businesses. With lower fees come lower caps, so if you’re planning on conducting a lot of activity with your business checking account, you might want to consider upgrading to other Chase business checking account options, the Chase Performance Business Checking or Chase Platinum Business Checking.
Low Cap for Free Transactions
Remember that Chase Business Complete Checking only comes with 100 free transactions each month.
Though you’ll have unlimited free electronic, non-wire deposits, you’ll still be seriously limited in the amount of free non-electronic transactions you’ll have access to with this business checking option.
If your business is performing transactions at high volumes, then consider your other business checking options.
Low Cap for Free Cash Deposits
Chase Business Complete Checking allows $5,000 in cash deposits every month without a fee. If your monthly business cash deposits are more than $5,000, then standard cash deposit fees will apply to all your deposits after this $5,000 threshold.
If your business deals with lots of cash every month—namely, more than $5,000 worth—then you’ll likely want to look into your other business checking options that will allow more free cash deposits.
No Free Wires
With this Chase Business Complete Checking account option, both international and domestic wires are possible, but they’ll always come with a standard wiring fee.
Though Chase Business Complete Checking stands out from many small business checking accounts for even allowing wires, they still won’t be free. As such, if your business relies heavily on sending multiple wires per month, then you might want to check out your other business checking options.
Top Alternatives to Chase Business Complete Checking
If Chase Business Complete Checking doesn’t sound quite like the perfect fit, don’t worry because you’ve still got some pretty stellar business checking options to sift through.
There are other options within Chase that offer a greater capacity from your business checking account, or other providers that can offer whatever you might need for your business.
Let’s take a look at three other top business checking alternatives to Chase Business Complete Checking.
BlueVine Business Checking
Although Chase is often considered one of the most accessible business checking accounts for small business owners, BlueVine business checking is a top alternative.
The BlueVine business bank account is completely fee-free, can be opened quickly and easily online, and includes unlimited transactions. In addition, it has no minimum opening deposit requirement, no NSF fees, and gives you the ability to withdraw cash fee-free at over 38,000 MoneyPass ATMs around the U.S.
Moreover, unlike many other online-based business checking accounts, you also have the option to deposit cash through BlueVine’s partnership with Green Dot—you can deposit cash at over 90,000 Green Dot locations around the country.
That said, the BlueVine business checking account also allows you to earn interest on your account—1% on any account balance up to $100,000. On top of these benefits, this business checking account includes two free checkbooks, mobile check deposit, as well as the ability to pay vendors and bills using ACH transfer, wire payments, or checks.
Ultimately, BlueVine is a worthwhile alternative to Chase if you’re looking for an online-based account, unlimited transactions, almost no fees, and the ability to earn interest on your funds.
NBKC Business Account
The NBKC business account is a great alternative to Chase Business Complete Checking if you’re looking for unlimited transactions, essentially no fees, and account accessibility, whether online or on your mobile device. With NBKC, you can apply for your business checking account quickly and easily online—plus, there’s no minimum opening deposit and no ongoing account fees. Additionally, the NBKC business account doesn’t require a minimum balance and includes unlimited transactions, incoming domestic wires, online bill pay, mobile, and online banking—completely fee-free.
Moreover, with your free NBKC business debit card, you’ll have access to over 32,000 fee-free MoneyPass ATMs across the U.S. Plus, if you use an alternate ATM that does charge you a fee, NBKC offers up to $12 in monthly refunds to cover these fees.
On top of these benefits, NBKC won’t charge you for returned items, overdrafts, non-sufficient funds, check deposit, eStatements, Cashier’s Checks, or stop payments. You’ll only have to pay fees with this account for outgoing domestic wires ($5) and for sending or receiving international wires ($45).
Finally, NBKC will give you the option to add ACH debits and credits, as well as a desktop deposit for low monthly fees. They also offer a business savings account, which you can open with no minimum deposit and no ongoing account fees as well.
Azlo Business Checking
If you’re looking for a business checking account that won’t require you to go to a bank branch to open it, your best choice is Azlo business checking.
Not only will you be able to open an Azlo business checking account from the comfort of your own home, you also won’t have to pay to do so. Azlo is a completely fee-free account as long as you use in-network ATMs. Plus, it will integrate seamlessly with pretty much any software you manage your business’s finances with.
Be sure to note that Azlo business checking accounts won’t be able to support cash deposits or send money wires, but this is simply because of their online-centric nature—you’ll simply have to rely on the unlimited free electronic payments that your Azlo account will come with.
Chase Performance Business Checking
If you’re determined to work with Chase for your business checking, but you need to access more wiggle room for higher-volume activity than Chase Business Complete Checking can provide, then you might want to check out Chase Performance Business Checking.
This business checking account offers up comparable perks to Chase Business Complete Checking, but with slightly higher thresholds and caps.
Put simply, Chase Performance functions a bit like the midsize version of Chase Business Complete Checking. If you like what Chase Business Complete Checking offers up, but your business requires more from its business checking account, then this could be your perfect option.
Chase Performance Business Checking has a monthly service fee of $30 that can be waived by holding a combined $35,000 in qualifying business accounts with them. The other perks include 250 free transactions per month along with unlimited electronic deposits and incoming wires and two outgoing domestic wires per billing cycle.
The Bottom Line
What’s the takeaway for all of this information on the Chase Business Complete Checking account? You know your business the best, so whether or not Chase Business Complete Checking’s benefits and fees are right for your business is for you to decide.
However, the way we see it, Chase Business Complete Checking is one of the very best business checking account options for small businesses who are on the up-and-up.
If you want to find a home base for your growing business’s cash flow that doesn’t saddle you with sneaky fees and charges, then this could be the perfect fit for you.
If you think your business is ready to take the step to a checking account targeted toward more midsize businesses—or even toward larger businesses, be sure to check out your other Chase business checking account options that are more hospitable to high-activity accounts.