It is important for small business owners and entrepreneurs to have a business bank account that meets their needs. The Chase Total Business Checking account is a full-featured checking account that is available for a monthly fee of $15, which can be waived based on qualifying activities. For a limited time, new accounts are eligible to earn a $300 bonus.
Chase Total Business Checking® Account
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Chase Total Business Checking Benefits and Features
Business owners with a Chase Total Business Checking account receive a number of benefits that will help them run their business more efficiently. These benefits include:
- Access to 16,000 Chase ATMs and nearly 4,900 branches.
- 24/7 customer service.
- 100 transactions per month at no charge, plus unlimited electronic deposits.
- $5,000 cash deposit per statement cycle without an additional fee.
- Free online bill payment.
- Complimentary access to Chase Online Banking and Chase Mobile Banking.
- Chase Business Debit, Deposit, and ATM cards that provide owners with control over who can access ATMs and make purchases on their behalf.
Chase Total Business Checking Minimum Balance
Small business owners shouldn’t have to spend money on a bank account if they don’t need to. The Chase Total Business Checking account has a $15 monthly fee, but it can be reduced or waived multiple ways:
- A minimum daily balance of $1,500 waives the monthly fee.
- Clients with a linked Chase Private Client Checking or Chase Sapphire Checking personal account have their monthly fees waived.
- The monthly fee is reduced to $12 when you enroll in electronic statements.
|Min. Balance to Avoid Monthly Fee||$1,500|
Customers may also open a Chase Business Total Savings account to save money towards a goal or for a rainy day. The savings account’s $10 monthly fee is waived as long as it is linked to the Chase Total Business Checking account.
Chase Total Business Checking Bonus
For a limited time, new customers may earn a $300 new account bonus when opening their Chase Total Business Checking account.
To receive this bonus, you must meet three criteria:
- Deposit $1,000 of new money to your checking account within 20 business days of account opening. With five business days in a normal week, this gives you almost one month to meet the deposit requirements.
- Maintain a minimum balance of $1,000 for at least 60 days.
- Complete five qualifying transactions within 60 days of account opening. These transactions include debit card purchases, Chase QuickDeposit, ACH credits or incoming and outgoing wires.
Once you meet these criteria, your $300 new account bonus will be deposited to your Chase Total Business Checking account within 10 business days.
Fine Print of the New Account Bonus
- Bonuses are considered interest. At the end of the year, Chase will issue your business a 1099-INT for the bonus that you earn.
- Your account must remain open for a minimum of six months. Should your account be closed before then, Chase will deduct the $300 bonus at the time of closing.
- Take note that Chase limits customers to one new account bonus every two years. The date is based on your enrollment date, not the date that you receive the bonus.
How to Apply for a Chase Total Business Checking Account
To apply for a Chase Total Business Checking account and receive this $300 new account bonus, complete these steps.
- Follow this link to review the offer terms and conditions.
- Provide your email address to receive a personalized $300 promo code.
- Review the Chase checklist for your business type and gather the required documents.
- Print out the email or bring your mobile device with the offer to a local branch.
- Open your account with a branch banker.
- Have them apply your personalized promo code during the account opening process.
To minimize your wait time, contact your local Chase branch and schedule an appointment with a business banker.
Once your account has been opened, enroll in Chase Business Online and Chase Mobile to access your accounts and view recent transactions. If you already have personal or business accounts with Chase, you can easily link your new Chase Total Business Checking account to your existing profile.
Chase is the largest financial institution in the U.S. It has offers 16,000 ATMs and almost 4,900 branches for you to conduct your business. Plus, it has a user-friendly website and mobile app where you can view your personal and business accounts from one dashboard.
The bank offers some of the most coveted personal and business credit cards, including several that earn Chase Ultimate Rewards points. These credit cards include its proprietary Chase Ink Business Preferred and co-branded credit cards for United, Hyatt, and Southwest.
Is Chase Total Business Checking Worth the $15 Monthly Fee?
For customers who need a solid checking account, the Chase Total Business Checking is worthy of consideration. Ideal customers can maintain the $1,500 balance required to waive the monthly service fee. If you can’t, the fee is reduced to $12 per month by opting into electronic statements instead of receiving a paper copy through the mail.
The Chase Total Business Checking account is a basic checking account with few major frills. The biggest benefit is that you’re banking with Chase and will have access to its many ATMs and branches throughout the country.
It does not provide interest on your balances, waive foreign ATM fees or provide other complimentary services that some competitor accounts may offer. To receive these additional perks, you need to upgrade to the Chase Performance Business Checking account.
Chase Total Business Checking Fees
|Monthly Maintenance Fee||$15|
|Monthly Maintenance Fee with electronic statements||$12|
|Electronic Transactions||No Charge|
|Deposits and deposited items made with a teller, incoming wires and all debits||0-100 no charge;
101+ $0.40 each
|In-Network ATM Transaction Fee||$0|
|Non-Chase ATM Transaction||$2.50|
|Foreign Transaction Fee||3%|
|Returned Item Fee||$34|
|Incoming Wire Fee||$15|
|Deposited Item Returned||$12|
|Outgoing Domestic Wire||$35|
|Outgoing International Wire||$50|
Is Chase Total Business Checking Right for You?
The Chase Total Business Checking account is ideal for business customers who prefer to have multiple accounts at the same bank. Chase is a popular bank and many potential customers may already have a credit card or personal checking account with them.
Many businesses can meet the minimum balance requirements to waive the $15 monthly service fee. They will enjoy having a companion Chase Total Business Savings account that automatically waives the monthly fees when linked to their checking account.
The $300 new account bonus is an attractive incentive to encourage potential customers to try the Chase Total Business Checking account. Even if you can’t meet the minimum balance requirements to waive the monthly fee, this bonus will cover more than a year’s worth of fees while you evaluate if it’s right for your business.