Branch bank business checking with a $15 monthly fee that a $2,000 minimum daily balance or other activity waives, 20 teller and paper-check transactions and $5,000 of branch cash a cycle included, and no fee for cash deposited at Chase ATMs.
Cash deposited at Chase ATMs has no charge and no published monthly cap, on top of $5,000 of branch cash included each cycle.
Electronic deposits, ACH, ATM transactions, mobile deposits and debit card purchases don't count toward the 20 included transactions.
The branch checklist accepts an ITIN for non-U.S. citizens, and a matrícula consular as primary ID for those without a green card.
What to watch
$15 a month unless you keep a $2,000 minimum daily balance or meet another activity; going below $2,000 on any day of the cycle counts.
Branch cash over $5,000 a cycle costs 0.30% of the excess, and teller transactions or paper checks over 20 cost $0.50 each.
Does not earn interest, and online opening is limited to sole proprietorships, corporations and single-member or manager-managed LLCs.
How the score breaks down
RTC Score5.7/10out of 10
Methodology v1.0.0
Data completeness84%
We could verify 84% of the scoring data
Strongest points
Cash deposit limit, Owner with an ITIN and no SSN, 12-month cost (reference restaurant)
Weakest point
12-month cost (reference restaurant)
Score by criterion
12-month cost (reference restaurant)Weight 32%StrongestWeakest3.0/103.0 out of 10
$420 over 12 months
Where you can deposit cashWeight 10%8.0/108.0 out of 10
Cash deposit limitWeight 10%Strongest10.0/1010.0 out of 10
Owner with an ITIN and no SSNWeight 10%Strongest10.0/1010.0 out of 10
Fee to close the accountWeight 10%No data
How easy the monthly fee is to avoidWeight 8%7.0/107.0 out of 10
Accounting software it connects toWeight 6%No data
Open onlineWeight 5%7.0/107.0 out of 10
Outgoing domestic wire feeWeight 5%2.9/102.9 out of 10
Mobile check depositWeight 4%10.0/1010.0 out of 10
All the data, with sources
Each value links to its source. "Not published" means the vendor doesn't disclose it; "Unconfirmed" means we looked and couldn't confirm it. Data points we have for fewer than four vendors are left out until we can compare them.
Balance or account activitySource: Chase (opens in a new tab)A $2,000 minimum daily ending balance, $2,000 of eligible deposits from Chase QuickAccept or other Chase Payment Solutions, $2,000 of eligible purchases on a Chase Ink business credit card, a linked Chase Private Client or JPMorgan Classic personal account, or Chase Military Banking. New accounts get the first two monthly fees waived or refunded.
Transactions included a month
20Source: JPMorgan Chase Bank, N.A. (opens in a new tab)Only deposits and withdrawals with a banker and paper checks written count. Electronic deposits, ACH and ATM transactions, Chase QuickDeposit, debit card purchases and internal transfers have no charge.
Branch cash over $5,000 a cycle costs 0.30% of the excess. Non-Chase ATMs: $3 per withdrawal in the U.S. ($5 abroad), plus the owner's surcharge. Overdraft: $34 per item when the account is overdrawn by more than $50, up to 6 a day. Stop payment: $30 with a banker, $25 online. Incoming wire: $15. Cashier's check: $10; money order: $5; counter checks: $3 per page. Legal processing: up to $100 per order. Chase QuickDeposit and some cash management products may carry additional fees.Source: JPMorgan Chase Bank, N.A. (opens in a new tab)
Bank branch, The bank's own ATMsSource: JPMorgan Chase Bank, N.A. (opens in a new tab)At a branch (teller or night deposit) and at Chase ATMs. Cash at a Chase ATM has no charge and does not use the $5,000 branch allowance.
Two forms of ID, one of them primary or government-issued. For non-U.S. citizens without a green card, the primary ID listed is a passport, matrícula consular or U.S. Employment Authorization Card. Sole proprietors give an SSN, ITIN (non-U.S. citizens) or EIN; LLCs need an EIN, and single-member LLCs may use the owner's SSN or ITIN. Who must be present at opening depends on the business type.Source: Chase (opens in a new tab)The checklist is written for opening at a branch. For LLCs it says: "An Employer Identification Number (EIN) is required. Single-member LLCs may use their SSN or ITIN". Additional forms of ID may be required for non-U.S. citizens.
Owner with an ITIN and no SSN
The bank publishes that it accepts an ITINSource: Chase (opens in a new tab)Published on the branch checklist, not as a promise of approval.
YesSource: Chase (opens in a new tab)Chase QuickDeposit has no transaction charge on Business Complete; daily and monthly limits are shown in the app.
ATM withdrawals
No Chase fee at Chase ATMs. At non-Chase ATMs Chase charges $3 per withdrawal in the U.S. and $5 abroad, and the ATM owner may add a surcharge. The business debit card withdraws up to $3,000 a day at in-branch Chase ATMs.Source: JPMorgan Chase Bank, N.A. (opens in a new tab)
UnconfirmedSource: JPMorgan Chase Bank, N.A. (opens in a new tab)Neither the fee schedule nor the deposit account agreement lists a fee to close the account, and neither says closing is free. On closing, the bank returns the balance less any fees, claims or set-offs.
You can close the account at any time, without prior notice. Chase does not have to close it at your request while there are pending transactions, a negative balance, legal process or holds; the balance is returned less any fees, claims or set-offs (Deposit Account Agreement, section VIII).Source: JPMorgan Chase Bank, N.A. (opens in a new tab)
Right to change fees
Chase may change the agreement, including fees and features, at any time. It will notify you in advance of a change that would adversely affect you, unless the change is needed to comply with the law (Deposit Account Agreement, section IX.D).Source: JPMorgan Chase Bank, N.A. (opens in a new tab)
