Chase is a national bank headquartered in New York, New York. It is a subsidiary of financial services holding company JPMorgan Chase Co., which covers commercial and consumer banking services for the company.
This financial institution has thousands of branches and ATMs across the United States and is used by a large majority of the population. They offer a wide range of financial services, including personal banking, Chase savings account, Chase credit cards, mortgages, car financing on a new or used car, home lines of credit, investment advice, small business lending, payment processing, business banking, etc. .
They offer three different checking accounts for businesses and are a digital bank that also gives small business owners access to branches when needed.
Chase Bank for business benefits
To get started, let’s take a look at some of the key benefits businesses get when using Chase.
Verification complete? account: Earn $300
Has the company completed verification? account is a major advantage for small business banking with Chase. They offer significant sign-in bonuses for new customers worth hundreds of dollars, in addition to giving account holders access to Chase QuickAccept™, which allows users to accept card payments from n anywhere. This checking account has low monthly fees, unlimited electronic deposits, and great digital tools and capabilities, like online account access and online bill payment through the mobile app.
Earn 1.5% unlimited cash back with Ink Business Unlimited®
By using Chase’s Ink Business Unlimited Card, customers can earn 1.5% unlimited cash back on all purchases. This provides great value for small business owners because they can earn on all the expenses they make with their Chase credit card. Other competitors do not offer such generous refund terms.
Finally, the support that Chase offers its banking customers is very comprehensive. Chase customers have a variety of ways to contact a Chase representative, including by phone, secure online chat, or via Twitter.
Chase Bank Review: Products and Pricing
|Chase checking account||Chase Business Complete Banking?||Chase Performance Business Checking®||Chase Platinum Business Checking?|
|Service charge||$15 or $0 per month||$30 or $0 per month||$95 or $0 per month|
|Waive the monthly service fee if||Achieve $2,000 minimum daily balance, Chase QuickAccept deposits? or Chase Ink business card purchases||Maintain a combined average balance of $35,000 at the start of the day||Maintain a combined average balance of $100,000 at the start of the day|
Now consider some of the monthly fees for Chase savings accounts, including the Chase Premier Savings? Account and total savings? Account.
Chase Bank for Business Savings Account
|Chase Business Total savings?||Chase Business Premier savings?|
|Monthly service fees||$10 or $0||$10 or $0|
|Minimum deposit to open||$25||$25|
|Transactions per month||0-15 items deposited – Free 16+ $0.40/each||0-30 items deposited – Free 31+ $0.40/each|
|Cash deposits per month are included free of charge||First $5000||First $10,000|
As you can see, Chase Savings accounts and checking accounts offer great services and benefits at low monthly service fees and minimum initial deposits.
Chase Bank Credit Card for Business
Another important part of business banking with this financial institution is the Ink Business Unlimited® credit card offered by Chase.
Other Chase Bank Products: Home Loans and Auto Loans
Chase offers other financial services outside of its commercial offerings, including secure consumer banking, auto loans, home equity line of credit, access to JP Morgan wealth management, and more.
Quick introduction to Chase Bank
Chase Bank Customer Reviews
Chase does not have excellent ratings among customers, as evidenced by Trustpilot. Let’s take a look at what some customers are concerned about.
The worst bank, especially the FREEDOM UNLIMITED credit card. The customer service is very bad and there are no professional employees who do not help you, the interest rates are very high and in the last 3 years of using the bank I was convinced that it was the worst bank i have ever used…
Their mobile deposit is a scam. Deposit a check into my account. They received the money layer 2 days from my other account. He made me wait 10 days before they deleted my account. It was a waste of time. I should have just deposited some money. It’s my fault for trying to save time. I will no longer be using this mobile deposit.
Not recommended! The worst customer service I have ever experienced. I made 5 calls and all were routed outside of the US. All calls were dropped and I asked the last one to write down my number in case if the call dropped again the response I got was: No we can’t call you back as we don’t we’re not in the United States. Call dropped, again! Problem not solved.
We use Chase for our business and personal accounts and couldn’t be happier. Wire transfers and bank transfers are really easy to send. However, I wish they would remove the fee for multiple accounts.
Chase Bank Service Review
Chase Bank Reviews
|Price and overall value||80%|
|Ease of use||90%|
Let’s take a final look at why Chase might be a good match for you.
Is Chase Bank for you?
So is Chase right for you? With low monthly fees, great cash back on credit cards, and their Chase Premier Plus checking account that offers great benefits to customers, there are plenty of reasons why Chase is a good choice for small businesses. They have a great digital platform through their mobile app, where customers can pay bills, check their Chase bank account balances, and more.
Chase Secure Banking offers great value at low cost. The monthly service charge is minimal and can even be avoided under certain circumstances. It is therefore a great option for anyone looking for an economical option.
Many customer reviews point to a negative customer service experience, although we note the team are highly available through a number of channels including social media, online chat and telephone.
Ease of use
Chase is very digital friendly, which means it’s a great easy-to-use platform in today’s economy. Business owners can accept card payments from anywhere, use their credit cards for cash back, and set up automatic payments and direct deposit if needed.
Chase is a great option for any small business as a tool for their overall financial strategy. Earn interest on account balances, enjoy low monthly fees and great rewards as a member of the digitally friendly bank.
2 Best Chase Bank Alternatives
Cit Bank offers a number of small business services, including credit cards, checking and savings accounts, loans, and other product offerings to help businesses grow. They emphasize flexibility, convenience, and support to help their customers.
Capital One offers small businesses a range of financial services, resources and advice. They adapt all services to the individual needs of the company, allowing great flexibility and personalized services.
Above all, Chase offers plenty of reasons why small businesses would bank through them. They have comparable monthly fees, a great online platform, and great perks through their various business checking and savings accounts for customers to take advantage of.
Frequently Asked Questions (FAQs)
Yes, Chase Bank offers auto loans within the consumer banking arm.
Yes, Chase customers can use out-of-network ATMs, but they will incur a $3 fee per transaction.
Chase Private Client is the highest banking product they offer, followed closely by the Chase Sapphire checking account. Sapphire is open to the public and does not require invitations.
Yes, a linked Chase checking account is possible, allowing for easy transfers and withdrawal of funds as needed for a great personal finance tool.
Generally, the terms of bank loans with Chase will be for up to five years, and interest rates will depend on each applicant and current markets.
When the duration of the CD is less than 12 months, account holders will face early withdrawal penalties.