Published November 27, 2021 by WC Team

Chase Business Complete Banking Review (Previously Chase Business Complete Checking)

A woman using an ATM. Chase is one of the most popular business checking account solutions for small businesses -  pexels-ono-kosuki-5999933

Opening a business bank account may be stressful and it can be even tougher to manage. This is because, as a businessowner, you will have to learn and understand all of the small nuances.

That's why, we've put together our Chase Business Complete Banking Review, which can help you in deciding where to put your company's money.

Even though Chase is one of the most popular business checking account solutions for small businesses, it offers many options. This business checking account is designed to help new – but growing – businesses in handling their cash flow effectively and efficiently. So that their fate doesn’t resemble that of other small businesses that shutdown everyday.

Chase Business Complete Banking Account Details

You'll need to crunch the figures to determine what is the best financial option for your company. It is very crucial to know all details before putting your money anywhere. 

Here are a few details regarding this Chase Business banking account.

Service Charge

The monthly fee for this Chase Business banking account is $15 but there are many ways to have it waived.

This fee is waived if you complete the following:

Firstly, you should maintain a minimum daily balance of $2,000 in your account. This will help if you have a Chase Private Client Checking account linked.

Secondly you should get $2,000 in deposits from Quick Accept transactions or other eligible merchant services.

Thirdly you must spend $2,000 or more on Chase Ink Business credit cards.

To add to that Chase also offers military benefits such as waiving the account's monthly service fee for veterans.

Transactions

You'll enjoy limitless free electronic deposits and deposited goods with this business checking account option. This includes ACH and ATM transactions, internal transfers as well as Chase QuickDeposit transactions.

You'll get up to 20 teller deposits and withdrawals each month. As well as paper checks are drawn on the account for $0.40 each.

This is a little above the maximum but it may quickly mount up. If your small business conducts a significant volume of transactions each month then choose an account with a greater monthly transaction limit.

Deposits In Cash

With the Chase Business Complete Banking account, you can make up to $5,000 in cash deposits each month without paying any fees. In addition to the first $5,000 in cash deposits every month you'll have to pay monthly cash deposit fees.

Though $5,000 in cash deposits each month may seem to be a large sum it is rather tiny compared to your other business checking alternatives.

As a result, if your company handles a large amount of money each month then this account may not be the greatest option.

Wires 

Chase's new business checking account supports both domestic and international wire transfers.

You will always be charged a regular wiring price for each wire you send or receive with this business checking option. So, you will not have a monthly limit of free wires.

In case your company has to make a particular number of wire transfers each month. Then you should seek a business checking account that allows for a set amount of free wire transfers each month.

Chase Business Complete Banking Advantages And Disadvantages

Advantages

There is a monthly service cost of $15 with Chase Business Complete Banking. And this may be waived in many ways.

If your daily balance is $2,000 or more Chase will waive this service cost. Plus, veterans can also have their account fees waived.

These cheap fees and low account balance thresholds for waiving are great for small firms. They don't want to spend a fortune on a business checking account.

With Chase Business Complete Banking you may conduct up to 20 teller or paper transactions each month. And that too without incurring any fees.

You won't have to worry about this transaction limit as you will also have limitless free non wire electronic deposits. So, if you do most of your business spending electronically then this account may be perfect for you. But only if your small business performs 20 teller or paper transactions per month or less.

When you sign up for a Chase Business Complete Banking account, you'll also get access to a slew of digital banking alternatives. This will include 24/7/365 access to Chase's website.

This means banking anytime you need to handle your company's funds. No more keeping bank hours when handling your company's finances.

You may use Chase Business Complete Banking's digital features to securely make payments online, get electronic statements, manage account notifications, transfer money and more.

Disadvantages

Now that we've highlighted some of the pros of the Chase Business Complete Banking account, we'll go through some of its cons.

It's worth noting that the Chase Business Complete Banking account is intended for small but growing businesses.

Smaller costs mean lower limits. So, if you intend on doing a lot with your company checking account you might want to consider switching to another Chase business checking account. Such as the Chase Performance Business Checking or Chase Platinum Business Checking.

Chase Business Complete Banking enables free cash deposits of up to $5,000 each month. 

If your monthly business cash deposits exceed $5,000 then regular cash deposit fees will apply to all deposits made beyond this amount.

If your company handles a lot of cash every month then you should look into different business checking accounts that allow for greater free cash deposits.

Top Alternatives To Chase Business Complete Banking

BlueVine Commercial Checking

BlueVine business checking is a good option for Chase. It is commonly recognized as one of the most approachable business checking accounts for small businesses.

BlueVine's business bank account is free of charge and can be created easily online. It also supports an unlimited number of transactions.

It also has no minimum initial deposit requirement, no NSF fees and enables you to withdraw cash fee free from over 38,000 MoneyPass ATMs nationwide.

NBKC Business Account

The NBKC business account is a great alternative to Chase Business Complete Banking. Especially if you want limitless transactions. Because there are no fees on transactions and accounts can be accessed online as well on your mobile device. 

Plus, there is no minimum starting deposit or recurring account fees. 

The NBKC business account has no minimum balance requirement and includes unlimited transactions, inbound domestic wires, online bill pay, mobile and online banking. All of which are fee-free.

Final Thoughts

What should you make of all of this information about the Chase Business Complete Banking account? 

You are the expert on your company so you must determine whether Chase Business Complete Banking is the best fit for your business.

Chase Business Complete Banking is one of the top business checking account alternatives for small enterprises which are just growing.

 This may be the ideal match if you're looking for a base to increase business's cash flow. And the best part is that Chase doesn't slap you with any hidden fee and costs. 

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