What You Need to Open a Chase Business Checking Account
Chase requires you to bring or provide three things before you can open a business checking account: proof of your business identity, a personal ID, and an initial deposit. The business identity proof depends on your business structure — a sole proprietor brings a Social Security number and business license or DBA certificate, while an LLC or corporation brings the formation documents filed with your state. You'll also need a personal government-issued ID (driver's license or passport) and typically a minimum deposit of $500 to $1,000, though the exact amount varies by account type and your location.
You can open the account in person at any Chase branch, by phone at 1-800-935-9935, or online through Chase's business banking portal. In-person is fastest if you have all documents ready; phone and online take longer because Chase will mail you forms to sign and return. The entire process takes one to two weeks if you go in person, or three to four weeks if you handle it remotely.
Key Takeaways
- Bring your business formation documents (DBA, LLC articles, or corporate certificate), a personal ID, and your Social Security number or EIN to open the account.
- Chase requires a minimum opening deposit that ranges from $500 to $1,000 depending on the account type you choose.
- Opening in person at a branch is fastest and takes one to two weeks; phone and online applications take three to four weeks.
- You will need a business address and phone number on file, and Chase will verify your business exists before the account is fully activated.
Documents to Bring or Upload
The exact documents depend on how your business is structured. A sole proprietor needs a Social Security number, a business license or DBA (Doing Business As) certificate filed with the county or state, and a personal ID. An LLC needs the Articles of Organization filed with your state, the EIN (Employer Identification Number) issued by the IRS, and a personal ID from the owner or authorized representative. A corporation needs the Articles of Incorporation, the EIN, corporate bylaws, and a personal ID from an authorized officer.
If you do not yet have an EIN, you can obtain one free from the IRS at irs.gov/ein before you visit Chase, or you can apply for one during the Chase application process — Chase will help you get it. If you have not filed a DBA or formation documents with your state, you must do that before opening the account; Chase will not open an account for a business that does not legally exist on paper.
Choosing the Right Chase Business Checking Account
Chase offers several business checking options, and the one you choose affects the minimum deposit, monthly fees, and what services are included. Chase Business Basic Checking has no monthly fee if you maintain a minimum balance or set up direct deposit, and it includes online banking and bill pay. Chase Business Checking has a monthly fee (typically $15) but includes more features like merchant services and higher transaction limits. Chase Infinite Business Checking is designed for larger businesses and has higher fees and higher minimum balances.
Most small businesses start with Business Basic Checking because it has no monthly fee if you meet the balance requirement. Ask the banker at your branch which account makes sense for your transaction volume and whether you plan to use Chase for merchant processing or payroll.
What Happens After You Submit Your Application
Chase will verify your business information with public records and may call the phone number you provided to confirm the business exists. This verification step typically takes three to five business days. During this time, your account is open and you can deposit money, but you cannot write checks or use a debit card until verification is complete.
Once verified, Chase will mail you a debit card and checks to the business address you provided. The debit card usually arrives within five to seven business days; checks take one to two weeks. If you need to make payments before the checks arrive, you can use online bill pay through Chase's website or mobile app, which works immediately after verification.
Setting Up Online Banking and Payment Tools
Chase automatically enrolls you in Chase Business Online Banking when you open the account. You can log in immediately using the temporary password Chase provides, and you should change it to something only you know. From there, you can view your balance, transfer money between accounts, set up bill pay, and download statements.
If you plan to accept credit card payments from customers, you can add Chase Merchant Services to your account during the application or afterward. If you plan to run payroll through Chase, you can set that up once your account is fully activated. Both of these services require separate approval and may take an additional week or two.
Minimum Balance and Monthly Fees
Chase Business Basic Checking waives the monthly fee if you maintain a minimum balance (typically $500 to $1,000 depending on your location and account type) or if you set up direct deposit of at least $500 per month. If your balance falls below the minimum and you do not have direct deposit, Chase charges a monthly maintenance fee, usually $15.
Other fees apply for specific actions: overdraft fees (typically $35 per overdraft), wire transfer fees (usually $15 to $25 outgoing), and stop-payment fees (around $30). These fees are disclosed in the account agreement Chase gives you before you open the account, so read that section carefully.
If You Already Have a Personal Chase Account
If you bank with Chase personally, opening a business account is faster because Chase already has your ID and address on file. You can still open in person or online, but the verification step may be shorter. However, Chase treats business and personal accounts as separate — you cannot transfer money between them using the same login, though you can link them for transfers through the mobile app or online banking.
Having both accounts also means two separate monthly statements and two separate sets of fees. Some people keep a personal account for personal expenses and a business account for business expenses to make tax time easier, but you are not required to keep both open.
Frequently Asked Questions
Can I open a Chase business checking account online without going to a branch?
Yes, you can start the application online at Chase's business banking website, but the process takes longer — typically three to four weeks. You will need to upload photos of your documents, and Chase will mail you forms to sign and return. Going to a branch in person takes one to two weeks because the banker can verify your documents immediately.
What if I do not have an EIN yet?
You can obtain an EIN free from the IRS at irs.gov/ein before you apply, which takes about 15 minutes online. Alternatively, Chase can help you apply for one during the account opening process, though this adds a few days to the timeline. Sole proprietors can use their Social Security number instead of an EIN if they prefer.
Do I need a separate business address, or can I use my home address?
Chase accepts a home address for a sole proprietorship or small business. If you use a home address, Chase may ask for a business license or DBA to confirm the business is real. If you use a commercial address or a virtual office address, you will need to provide proof that you have the right to use that address.
How long does it take to receive checks and a debit card?
The debit card typically arrives within five to seven business days after your account is verified. Checks take one to two weeks. If you need to pay bills before checks arrive, use Chase's online bill pay feature, which works immediately after verification is complete.
What is the minimum deposit to open the account?
Chase requires a minimum opening deposit of $500 to $1,000, depending on the account type and your location. This deposit counts toward your minimum balance requirement, so if you deposit $1,000 and the minimum balance is $500, you start with $500 above the requirement.