Ultimate Guide To Chase Business Checking Accounts – Opening Requirements + Benefits + Many More

Do you or plan to open a business? To do so, it’s important to open a business bank account. It will allow you to separate your personal and company’s transactions. Here is the Ultimate Guide Chase Business Checking Accounts.

They have three different checking accounts for businesses, ranging from ones that are great for smaller to even larger companies. Additionally, you’ll get benefits you don’t want to miss out on. If you’re interested, read more below to learn more about the benefits, opening requirements, costs, and more!

Chase Business Complete Checking account

This account is geared towards smaller and newer businesses. Fees include:

This account comes with many benefits. For instance, you’ll get 100 free transactions each month, unlimited electronic deposits, and no fee for up to $5,000 in cash deposits each month.

Chase Performance Business Account

This account is geared towards mid size businesses. It is one of the most popular account out of the three.

They have benefits which will allow you to save money and make your life more efficient. For example, you’ll get 250 free transactions each month, unlimited electronic deposits, unlimited incoming wires plus 2 outgoing domestic wires with no fee per statement cycle, no fee for up to $20,000 in cash deposits each month, and no charge for Positive Pay and Reverse Positive Pay.

Chase Platinum Business Account

This account is geared towards large businesses.

This account has even more benefits than the other two accounts. Like, you’ll get 500 free transactions each month, unlimited electronic deposits, unlimited incoming wires plus 4 outgoing domestic wires with no fee per statement cycle, no fee for up to $25,000 in cash deposits each month, no charge for Positive Pay and Reverse Positive Pay, and reduced balance requirement for Chase Private Clients.

Requirements To Open A Chase Business Checking Account

For a Sole Proprietorship, you must present:

• Two forms of ID
• Tax Identification Number or Social Security number, ITIN (non-US Citizens), or Employer Identification Number (EIN).
• Business documentation
• Specific information about your business will be asked when you open your account. For instance,  your business address and phone number, number of locations, and more

For a Partnership, you must present:

• Two forms of ID
• Tax Identification Number
• Partnership agreement or joint venture agreement, assumed name certificate, and website validation.
• Basic business information such as business address and phone number, number of locations, and more
• Supplemental documentation including an amendment to the Partnership Agreement or Joint Venture Agreement, letter on company letterhead listing the current general partners, or an annual report may be requested.

For a Unincorporated Business Association or Organization, you must present:

• Two forms of ID
• Tax Identification Number (your Employer Identification Number).
• If the organization or association is using its own EIN, requirements will include articles of association, a charter document validating existence, and IRS Confirmation of EIN issuance.
• If the organization or association is using the EIN of a national or regional organization, a letter of authorization from the national or regional office is required.
• Assumed Name Certificate (varies by state)
• Basic business information including business address and phone number, number of locations, and more
• Supplemental documentation may be required including a letter on organization or association letterhead or meeting minutes listing the current officers.

For a Limited Liability Company, you must present:

• Two forms of ID
• Tax Identification Number (your Employer Identification Number). Single-member LLCs can use their SSN or ITIN and non-U.S. Citizens can use an ITIN.
• Certified Articles of Organization (Certificate of Formation) filed with a state agency.
• Website validation
• Assumed Name Certificate (varies by state)
• Basic business information including business address and phone number, number of locations, and more
• Documentation listing the current members or managers of the LLC may be required.

For a Corporation, you must present:

• Two forms of ID
• Tax Identification Number (your Employer Identification Number).
• Business documentation filed with a state agency: Certified Articles of Incorporation, Website Validation, Active Status Verification.
• Assumed Name Certificate (varies by state)
• Documentation listing the current officers of the Corporation (such as a letter on company letterhead, meeting minutes, or annual report) may be required.
• Basic business information including business address and phone number, number of locations, and more
• Additional information from owners, shareholders, and individuals holding key roles may be required.

Author’s Verdict

If you own a business, opening a business checking account would be useful. It will allow you to separate your personal and business transactions. Additionally, you’ll be able to keep track of all your payments at your business. It will make your life easier! The information above will help you greatly. Depending on the type of business you have, requirements vary.

If you don’t have a Chase Account yet we consider you exploring all your Chase Account Options.

Alternatively, be sure to check back on BankDealGuy for more bank deals.