Chase Business Checking Bonus

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If you’re looking for the best bank for your business, you’ll undoubtedly come across the Chase business checking accounts.

It’s known for its bank bonuses and, at the moment, is offering a business checking account bonus that can get you as much as $300.

You will need to meet a few requirements after opening Chase business complete banking account, of course. These include such activities such as making direct deposits within a number of business days of account opening or purchases with your debit cards.

This, along with some other requirements, is something that most, if not all, account holders will need to meet to qualify for bank bonuses.

We will discuss everything you need to know in the article.

Chase Business Complete Banking℠ Account Promotion: $300 Bonus

Offer expires 07/23/2021

Chase is offering business owners looking to open a Chase Business Complete Banking℠ account an excellent $300 cash bonus.

Getting the offer is easy and very straightforward.

You will need to obtain an offer code, and there are a few requirements that you need to meet before the bonus amount is yours.

To get the $300 bonus, follow the below steps:

  • Get the required Offer Code (below)
  • Open a Chase Business Complete Banking℠ account and enter the code
  • Deposit $2,000 or more within 30 business days of opening the account
  • Maintain an account balance of $2,000 or more for 60 days
  • Complete 5 qualifying transactions within 90 days

Once you’ve completed the above checking requirements, you can expect the money to land in your new account within 10 business days.

Do bear in mind that bonuses are considered interest, so you will need to report them on IRS Form 1099-INT (or Form 1042-S, if applicable).


Required Account Deposit

As we mentioned earlier you will need to make a deposit (varies by product) within 30 business days to qualify for the bonus.

The deposit must be new money. This means that it cannot be already held at Chase or any of its affiliates.

The balance must also be kept in the account for 60 days straight. This means that the balance cannot be withdrawn before this period expires as otherwise, you will lose the $300 bonus on offer.

It’s worth mentioning here that deposits up to $250,000 are insured by the FDIC, so you know your money is protected.

Qualifying Transactions

Aside from meeting the deposit requirement, you also need to make 5 qualifying transactions within 90 days of opening your new business checking account.

The bank lists 4 different types of transactions that are considered qualifying for this offer. These include:

  • Debit card purchases
  • Chase QuickDeposit
  • ACH credits
  • Wire credits and debits
  • Chase QuickAccept℠ deposits

Other Bonus Conditions

Other terms and conditions can hold you back from getting the bonus, so it can be quite useful to know what they are before making any financial decisions with the bonus in mind.

If you’re already a holder of a Chase business checking account, unfortunately, you are not eligible for this offer.

The same goes for local, state, or federal government agencies.

The offer is also NOT applicable to:

  • Not For Profit Organizations
  • Political Action Committees
  • Anyone holding a campaign account
  • Anyone whose account has been closed in the previous 90 days
  • Anyone whose account was closed with a negative balance

One other condition to be aware of is that of account closing. If you get the bonus and close the account within six months after it was opened, the bonus amount will automatically be deducted from the closing balance.

Offer Expiration Date

It is also important to note that this offer is only valid until October 21, 2021.

Pencil this in your calendar if you’re thinking about this offer to make sure you don’t miss it.

We will now have a look at what you can expect to get when opening a new business checking account with this bank.

Chase Business Checking Accounts

When it comes to business checking accounts, Chase offers three different types of accounts. All three accounts are eligible for the $300 bonus, so you don’t need to worry about this.

While there are many similarities between these different account types, there are also features and benefits that are different.

In this next section, we will be looking at each type of account to help you decide which one is the best for you.

Regardless of the type of account you get, you get access to some 16,000 Chase ATMs and 4,700 branches. Having a Chase branch close to you is always helpful, especially when you have a business account.

All accounts also get access to Chase Online Banking as well as Online Bill Pay. If you’re always on the go, you’ll be glad to know that all three accounts also get access to the Chase Mobile Banking app.

Other key benefits that come with all accounts include:

  • Chase debit card free of charge
  • 24/7 telephone support
  • Associate debit cards (on request)
  • Employee deposit cards (on request)

We will now have a look at each account type one by one, including benefits and any associated monthly service fees.

Chase Business Complete Banking℠ Account

The Chase Business Complete Banking account is aimed at small businesses as well as businesses going through a growth phase.

The account comes with a lot of features designed to help different businesses reach their goals.

Account Benefits

This account comes with several benefits aimed at helping small businesses achieve better financial health.

When opening a Chase Business Complete Banking℠ account, you can expect to have the following benefits

  • 100 free transactions per month
  • Unlimited electronic deposits
  • No additional fees for the first $5,000 cash deposits per statement cycle
  • Wire transfers
  • Chase QuickDeposit
  • Chase Online Bill Pay
  • Chase Online Banking
  • Chase Mobile Banking

Account Fees

The account has a maintenance fee of $15.00. This fee is payable once a month but can be reduced or even waived if you manage to meet specific requirements.

By reducing or completely eliminating the monthly fee, you will not only be saving money but also enjoying other benefits that come with the set requirements.

How To Reduce the Monthly Fee

The maintenance fee can be reduced from $15 per month with ways to waive.

As the name suggests, paperless statements allow you to receive your bank statements virtually. Instead of having to wait for your statements to arrive by post, you will get a notification when they’re ready, then log into your account through the app or website and find everything there. Not only will you get your statements sooner, but you’ll also be saving money and helping the planet in the process.

How To Waive the Monthly Fee

Waiving the monthly fee can help you save money. In fact, you will save $15 per month. That’s $180 dollars per year! There are two different ways to get the fee waived. This means that you don’t have to comply with both of them; one is enough. You can choose the one that is more convenient or accessible for you without incurring any penalties.

  • Maintain a minimum balance – If you maintain a minimum daily balance of $2000 or more, the maintenance fee will be waived.
  • Linked Chase qualifying account – You can link (and maintain the link) either a Chase Private Client Checking account or a Chase Sapphire Checking personal account to have the monthly maintenance fee waived

Chase Performance Business Checking® Account

The Chase Performance Business Checking account is a business checking account aimed at medium-sized businesses.

It offers more benefits than the Chase Business Complete Banking℠ account, where benefits are aimed at businesses that have higher economic activity.

This comes at a higher monthly fee and waiving requirements.

Account Benefits

Chase bank makes it easy to switch your business account over to them. If you’re looking to get a Performance Business Checking account with Chase, not only will you find an easy four-step checklist online, but you’ll also have the following benefits to look forward to:

  • 250 free transactions per month
  • Unlimited electronic deposits
  • Unlimited incoming wires
  • No additional fees on the first $20,000 cash deposit per month
  • Free outgoing domestic wires
  • Chase Online Banking
  • Chase Mobile Banking
  • Positive Pay and Reverse Positive Pay protection at no additional charge

Account Fees

The account has a maintenance fee of $30. This fee is payable every month. Chase bank will waive the fee if you meet the waiving requirements that we are listing down below.

How To Waive the Monthly Fee
  • Maintain a minimum balance – If you maintain a minimum daily balance of $35,500 or more across qualifying business deposit accounts, the maintenance fee will be waived.

Chase Platinum Business Checking® Account

The Chase Platinum Business Checking account is better suited for larger businesses that have a lot of financial activity.

It’s a step up from the Performance Business Checking account, offering more generous account benefits at a higher monthly cost.

Account Benefits

As you might expect, your new account comes packed with many benefits geared towards the business needs of larger companies. When getting this account, you can look forward to:

  • 500 free transactions per month
  • Unlimited electronic deposits
  • No additional fees for the first $25,000 monthly cash deposits per statement cycle
  • Free Wire transfers
  • Chase Business Debit cards
  • Chase Business Deposit and ATM cards
  • Chase Online Banking
  • Chase Mobile Banking

Account Fees

The account has a $90 maintenance fee. Like all other accounts, this fee is payable every month but can be waived if you meet the requirements set by the bank.

How To Waive the Monthly Fee

To waive the $90 monthly service fee, you will need to maintain a specific balance over qualifying accounts, as listed below.

  • Maintain a minimum balance – If you maintain an average daily balance of $100,000, the maintenance fee will be waived. This balance can be combined over qualifying business deposit accounts as well as business investment balances.

Other Chase Business Checking Features

Chase bank has other useful features new Chase business checking customer can take advantage of, such as:

  • Account Alerts helping you keep track of your account’s activity
  • Convenient Access to over 16,000 Chase ATMs and more than 4,700 Chase branches
  • Unlimited Electronic Deposits are offered at no charge (incl. Chase QuickDepositSM, ATM and ACH)

How To Apply For A new Chase Business Complete Banking Account

Whether you apply online or in-branch, make sure you have the following info at hand:

  • Business address and details
  • Social Security or tax ID number
  • Driver’s license or other state-issued ID

About Chase Bank

Chase, or JPMorgan Chase Bank, is the largest bank in the US and is probably one of the most well-known credit card issuers.

Chase’s total asset value tops $2.6 trillion and has a market capitalization of $327 billion.

Chase bank offers services to both personal as well as business customers within many seasonal and ongoing bank bonuses and promotions on offer.

Continue Reading:

Is A Chase Business Checking Bonus For You?

Chase offers are known to be pretty awesome – but the Chase Business Checking account offers much more than a bonus, in my opinion.

100 free transactions per month, unlimited electronic deposits, over 16,000 Chase ATMs, and 24/7 customer service are just a few of the features business owners would find useful.

Plus, you can trust that you’ll get help and support when it comes to your business needs from Chase’s business specialists.

And, because there are more than 4,700 Chase bank branches, finding a local branch shouldn’t be difficult.

Aside from this offer, Chase bank has many other ongoing credit card offers on business credit cards with cash back related bonuses, lower APY rates, and higher ATM limits.

They also have offers on personal checking accounts as well as personal credit cards. Because they usually have multiple bonuses on offer, make sure you give it some thought and choose the right one for you. And do check last enrollment dates on the bank’s website as these dates tend to vary.

While this bonus is definitely exciting, Chase also offers other bonuses from time to time. If you’re looking to open a new Chase savings account, or perhaps get a new credit card, chances are there’s an offer that you could take advantage of.

Because of this, it is always worth checking for any ongoing offers before committing to opening a new account.

Continue Reading:

Chase Business Complete Banking℠

Overall Rating

10

Bottom Line

Chase Business Complete Banking account offers much more than a $300 bonus, in my opinion. 100 free transactions per month, unlimited electronic deposits, 16,000 Chase ATMs, and 24/7 customer service are just a few of the features business owners would find useful.

Pros

  • Multiple Account Options
  • Great Customer Service

Cons

  • Deposit Must Be New Money

Account Options

10.0

Requirements

10.0

Fees

10.0

Application Process

10.0

Additional Disclosures: Millennial Money has partnered with CardRatings and creditcards.com for our coverage of credit card products. Millennial Money, CardRatings and creditcards.com may receive a commission from card issuers. This site does not include all financial companies or financial offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

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