Chase Business Complete Checking® Details

• Our Score: 5/5 stars

• APY: Not Applicable

• Minimum Deposit Requirement: None

• Sigh-Up Bonus: $300 (Offer Expires July 22, 2024)

• Analysis: For those looking to open a new account, the Chase Business Complete Checking account is worth considering. The monthly fees range from $0 to $15, based on account usage. Additionally, you have the opportunity to earn a substantial bonus by fulfilling a few specified activities upon opening a new account.

Qualified individuals can receive a $300 bonus by opening a new Business Complete Checking® account with Chase, depositing a minimum of $2,000 within the first 30 days, maintaining that balance for at least 60 days, and completing five qualifying transactions within 90 days from account opening.

Steps to Obtain Your $300 Chase Bonus

Earning the $300 bonus for a new Chase business account requires completing certain activities and transactions post-account opening:

1. Open an Account: Be a new Chase business checking customer and open a Chase Business Complete Checking account either online or at a branch. Use a coupon code to access the offer.

2. Fund Your Account: Deposit $2,000 or more in new funds within the first 30 days of coupon enrollment. The deposit amount is confirmed at the 30-day mark from account opening. Maintain a minimum balance of $2,000 for 60 days.

3. Perform Five Qualifying Transactions: Complete at least five qualifying transactions within the first 90 days of opening your Chase business checking account. Qualifying transactions include:

• Debit card purchases

• Chase QuickDeposit (Mobile check deposits through the Chase Mobile app)

• Chase QuickAccept deposits (Accept credit card payments through the Chase Mobile app)

• ACH credits (Additional service fees of $25 per month for up to 25 payments may apply)

• Wire transfers (Both incoming and outgoing)

• Chase online bill payments

Among the current business bank bonuses, a $300 reward for Business Complete Checking remains highly appealing. For those already planning to open a new business checking account, this bonus is an excellent extra benefit.

A significant advantage of the Chase Business Complete bonus is that no direct deposit is necessary. The offer is valid until July 22, 2024. Explore more promotional offers for new bank accounts from various banks.

Detailed Information on the Bonus Offer

Apart from the primary details, it’s crucial to carefully examine the specifics of the new account bonus offer, such as:

• Tax Implications: Historically, Chase Bank has indicated that it may issue a 1099-INT form (or form 1042-S, where relevant) for new business account bonuses. If your business receives a 1099-INT from Chase, it must be reported on your business tax return.

• Account Duration and Restrictions: Be aware that there might be a minimum period you are required to maintain the account and restrictions on the frequency with which you can qualify for a new account bonus from Chase.

• Offer Expiry and Processing Time: Verify if there is an expiration date on the offer and how long it takes to receive the bonus after meeting the qualifications.

Steps to Obtain Your Chase Business Coupon Code

To claim your $300 Chase bonus, you will need an offer code. Here’s how to get it:

1. Go to the offer webpage.

2. Enter your email address to request the offer code.

3. Check your email for the code.

After receiving your offer code via email, you can use it to open an account either online or at a branch. If you apply online, the offer code will be automatically applied during the secure online application process.

Benefits and Features of Chase Business Accounts

Chase provides numerous advantages for its business checking account holders. The $300 bonus alone may be a compelling reason to open a Business Complete Checking account. However, there are several additional benefits:

• Payment Processing: Through the Chase Mobile app’s QuickAccept feature, you can handle debit and credit card transactions with ease. (Note that transaction fees apply for electronic payments, similar to traditional merchant accounts.)

• Extensive ATM Network: As the largest bank in the U.S., Chase boasts 16,000 ATMs and more than 4,700 branches.

• FDIC Insurance: JPMorgan Chase Bank is insured by the FDIC (FDIC# 628), protecting your deposits up to $250,000 per depositor, per ownership category, in the event of bank failure.

• Same-Day Deposits: Unlike some banks that require a waiting period for access to deposited funds, Chase offers same-day deposits via QuickAccept, with no extra maintenance fees.

• Unlimited Electronic Deposits: Chase allows unlimited electronic deposits at its ATMs and branches without any fees.

• Mobile Deposits: Each month, you can make unlimited electronic deposits, ACH deposits, and Chase QuickDeposits into your business checking account.

• Check Tracking: If your business accepts checks, Chase’s check monitoring services enable you to track payments and returns.

• Account Alerts: Chase business checking customers can monitor account activities by setting up free alerts.

• Comprehensive Banking Services: Chase also provides personal banking, investment accounts, business loans, credit cards, mortgages, personal loans, and more.

Account Charges

This account has a limited number of fees, but here are some key ones you should be aware of:

1. Monthly maintenance fee: $15, with waiver options detailed below.

2. ATM charges: Free at Chase network ATMs, $3 for non-network ATMs, and $5 for international withdrawals.

3. Currency conversion fee: 3% of the transaction amount after converting to U.S. dollars.

4. Overdraft charge: $34 per transaction, unless:

• You have Chase Overdraft Assist℠

• Your account is overdrawn by $50 or less by the end of the business day or you bring it within $50 of being balanced by the next business day’s end.

• You meet other specific conditions outlined in Chase’s fee schedule.

Waiving the Monthly Charge

Chase Business Complete Banking accounts typically come with a $15 monthly fee, but this can be waived if you meet any of the following criteria:

• Maintain a daily account balance of $2,000 or more.

• Spend $2,000 or more each month using a Chase Ink® Business credit card.

• Receive monthly deposits of $2,000 or more via QuickAccept or other qualifying payment solutions.

• Link your Chase Private Client Checking account to your business checking account.

• Have qualifying active-duty or veteran military status with appropriate proof.

Previous Chase Business account users could also avoid monthly fees on their Chase Total, Chase Performance, and Chase Platinum accounts. However, the Chase Business Complete Banking accounts offer even more ways to qualify for a fee waiver.

Shortcomings

The Chase Business Complete Checking account offers many benefits, but there are a few potential downsides to consider:

1. Monthly Maintenance Fee: Unless you meet certain conditions to waive it, a $15 monthly service charge will apply.

2. No Interest Earned: Unlike some other rewards checking accounts that provide competitive annual percentage yields (APYs) or cash-back incentives, this account does not earn interest.

3. Limited Fee-Free Cash Deposits: You can deposit up to $5,000 in cash per statement cycle without incurring fees; exceeding this limit will result in additional charges.

FAQs

Q1: Does Chase conduct a credit check for business accounts?

A1: When you open a business checking or savings account with Chase, they typically do not perform a hard inquiry on your credit history. Generally, banks do not rely on credit scores for approving new deposit accounts. However, they often review your history with ChexSystems, which records overdrafts or bounced checks. If you have concerns about your ChexSystems record, you can obtain a free copy of your report.

Q2: Is there a higher bonus offer available for Chase Business Checking?

A2: Some individuals have reported a $750 bonus offer for opening an account, but it requires a substantial deposit of $30,000 within the first 30 days and maintaining that balance for 60 days.