Chase offers business checking with no monthly fee, but only if you meet their balance or activity requirements

Chase's Chase Business Basic Checking account has no monthly maintenance fee, but you must keep a minimum balance of $2,500 or process at least 10 business debit card transactions per month. If you fall below the balance and don't hit the transaction threshold, Chase charges $15 per month. The account comes with a debit card, online banking, and mobile check deposit at no extra cost.

If you cannot maintain $2,500, Chase also offers Chase Business Complete Checking, which waives the $25 monthly fee if you maintain a $10,000 minimum balance or meet higher activity thresholds. This account includes additional features like wire transfers and merchant services, but the higher balance requirement makes it less practical for small operations trying to avoid fees.

Chase does not offer a truly free business checking account with zero conditions. Every account either requires a minimum balance, transaction volume, or both. The fee waiver depends on your ability to keep money in the account or use the debit card regularly.

Key Takeaways

  • Chase Business Basic Checking has no monthly fee if you keep $2,500 on hand or make 10 debit card transactions monthly.
  • If you drop below the minimum balance and miss the transaction requirement, Chase charges $15 per month.
  • Chase Business Complete Checking requires a $10,000 minimum balance to waive its $25 monthly fee.
  • No Chase business checking account is free without meeting at least one condition: balance, transactions, or both.
  • Other banks like Novo, Mercury, and Lemonade offer business checking with no monthly fees and no minimum balance requirements.

How the $2,500 minimum balance works

The $2,500 requirement is a daily balance, not an average. Chase looks at your account balance at the end of each business day. If your balance drops below $2,500 even once during the month, and you haven't made 10 debit card transactions that month, you owe the $15 fee.

This means if you run payroll or pay a large vendor and your balance dips to $2,400, you've broken the requirement for that month. You then need to hit 10 debit card transactions before the statement closes to avoid the fee. For a business that pays bills by ACH or wire transfer rather than debit card, this requirement is nearly impossible to meet.

The balance sits in your checking account earning no interest. Chase does not pay interest on business checking balances, so keeping $2,500 there costs you the opportunity to earn anything on that money.

The 10 debit card transaction alternative

If you can't keep $2,500 in the account, you can waive the fee by making 10 business debit card transactions per month. A transaction counts as a purchase made with the Chase business debit card—swiping it at a vendor, using it online, or inserting it at a terminal.

Transfers between your own accounts do not count. ACH payments, wire transfers, and checks do not count. Only debit card swipes count. For a business that pays most bills electronically or by check, hitting 10 debit card transactions can be difficult.

If you use the debit card for fuel, office supplies, or regular vendor payments, you may hit 10 transactions naturally. If your business model relies on ACH or checks, you'll need to deliberately use the debit card to avoid the monthly fee.

What happens if you don't meet either requirement

Chase charges $15 per month if your balance falls below $2,500 and you haven't made 10 debit card transactions. The fee appears on your statement and is deducted from your account automatically. There is no warning or grace period—the fee posts once the statement closes.

If you're charged the fee multiple months in a row, it adds up quickly: $15 × 12 months = $180 per year. Over five years, that's $900 in fees for an account that Chase advertises as free. Many small businesses don't realize they're being charged until they review their statements months later.

You can call Chase to request a one-time fee reversal if you've been charged recently, but this is not may provide. Chase is more likely to reverse the fee if you're a new customer or if the account has been in good standing otherwise.

Other features included with Chase Business Basic Checking

The account includes online banking, mobile app access, and the ability to deposit checks by phone using Chase's mobile app. You get a business debit card with no annual fee. Wire transfers cost $15 to send domestically and $20 internationally. ACH transfers are free.

You can set up payroll through Chase Payroll Services, though Chase charges a per-check fee for this service. You can also receive payments through Chase Merchant Services if you want to accept credit cards, but this involves a separate setup and fees.

The account does not include a business credit card, overdraft protection, or a line of credit. Those are separate products you would need to open and may have access to for independently.

When other banks might be a better choice

If you cannot reliably maintain $2,500 or make 10 debit card transactions monthly, Chase is not the lowest-cost option. Banks like Novo, Mercury, and Lemonade offer business checking with no monthly fee, no minimum balance, and no transaction requirements. These accounts are designed for small businesses and startups that need a simple, truly free account.

If you need a physical branch location for deposits or in-person service, Chase's nationwide branch network is an advantage. If you do most banking online and don't need branches, the fee-free accounts at online-only banks eliminate the risk of being charged a monthly fee.

If you already have a personal Chase account and want to keep everything in one place, Chase Business Basic Checking may be worth the effort to meet the $2,500 balance or transaction requirement. If you're starting fresh and want to avoid the complexity, a bank with no conditions is simpler.

Frequently Asked Questions

Does Chase waive the monthly fee if I have a personal account with them?

No. Chase does not cross-link personal and business account requirements. Your personal account balance and transactions do not count toward waiving the business checking fee. You must meet the requirement using only the business account itself.

Can I use a savings account balance to meet the $2,500 minimum?

No. Chase only counts the balance in the business checking account itself. Money in a linked savings account, money market account, or other product does not count toward the minimum balance requirement for the checking account fee waiver.

What counts as a debit card transaction?

A debit card transaction is a purchase made by swiping, inserting, or using the card online at a merchant. Transfers between accounts, ACH payments, wire transfers, and check deposits do not count. Each separate purchase counts as one transaction, even if the amount is small.

If I'm charged the $15 fee, can I get it back?

Chase may reverse a single fee if you call and ask, especially if you're a new customer or if the account has been in good standing. There is no may provide, and Chase is less likely to reverse fees if you've been charged multiple times. Repeated reversals may result in Chase closing the account.

Is there a business checking account at Chase with no minimum balance?

No. All Chase business checking accounts require either a minimum balance or transaction activity to waive the monthly fee. If you need a business account with no conditions, you will need to bank elsewhere.