What you need before you start
Chase requires you to bring specific documents and information in person or online, depending on which account type you choose. You will need your Social Security number or Individual Taxpayer Identification Number, a government-issued photo ID, and proof of your business address. The proof of address can be a utility bill, lease, or mortgage statement dated within the last 60 days.
If your business is a sole proprietorship, you can open an account using your personal Social Security number. If you have an LLC, partnership, or corporation, you will need an Employer Identification Number (EIN) from the IRS. You can get an EIN for free at irs.gov or by calling the IRS at 1-800-829-4933. The process takes about 15 minutes by phone.
Have your business name, the type of business structure, and your expected monthly transaction volume ready when you apply. Chase also asks how you plan to use the account — whether you will deposit checks, make transfers, or use merchant services. The more detail you provide, the faster the review moves.
Key Takeaways
- You need a government photo ID, proof of address dated within 60 days, and either a Social Security number or EIN before you can open an account.
- Chase offers different business account types — checking, savings, and merchant services — and you choose based on what your business actually does.
- You can open an account online, by phone, or in person at a Chase branch, and the method you pick affects how long approval takes.
- Most accounts are approved within one to three business days if you apply online or in branch, but verification can take longer if Chase needs additional documents.
Opening online versus in person
Opening online through chase.com/business is the fastest route for most people. You enter your information, upload photos of your ID and proof of address, and Chase reviews it immediately. If everything matches, you get approval within one to three business days and can start using your account right away. You will receive debit cards and checks by mail within 7 to 10 business days.
Opening in person at a Chase branch takes longer on the day you visit — usually 30 to 45 minutes — but you walk out with a debit card and can start using the account the same day. A banker will verify your documents on the spot and answer questions about account features. This route works well if you want to ask about merchant services, credit lines, or other products at the same time.
You can also open by phone by calling 1-800-935-9935 and speaking to a Chase business banker. They will guide you through the information they need and can often approve you on the call. However, you will still need to mail or upload documents, which adds two to three business days to the process.
Which account type matches your business
Chase Business Checking is the standard account for most small businesses. It includes online banking, bill pay, mobile deposits, and a debit card. There is a monthly fee that varies by location and account tier, typically between $15 and $25, though Chase waives it if you maintain a minimum balance or set up direct deposit.
Chase Business Savings is a separate account you can open alongside checking. It earns interest on your balance and works well if you want to set aside money for taxes, payroll, or emergency reserves. The interest rate changes with market conditions, so check chase.com for the current rate before you open.
If you accept credit or debit cards from customers, you will need Chase Merchant Services. This is not a separate account — it is a service added to your checking account. Chase will ask about your average transaction size, monthly sales volume, and industry type. Approval for merchant services can take an additional three to five business days because Chase assesses fraud risk differently for each industry.
Documents Chase will ask you to verify
Chase will verify your identity using your government-issued photo ID — a driver's license, passport, or state ID card. They check that the name, photo, and ID number match what you entered online or told them in person. If the ID is expired, Chase may still accept it for identity verification, but some branches require a current ID.
Proof of business address is the second document Chase requires. A utility bill, lease agreement, or mortgage statement works. The document must show your name and the business address, and it must be dated within the last 60 days. If you work from home, a utility bill with your home address is sufficient.
If you are opening a business account under an LLC, partnership, or corporation, Chase will ask for your EIN verification letter from the IRS. You can print this from irs.gov after you receive your EIN, or you can call the IRS and ask them to mail it to you. The letter arrives within two to three weeks by mail, but you can get it immediately online.
Chase may also request a business license or articles of incorporation depending on your business structure and the state you operate in. If you are a sole proprietor, you usually do not need a business license to open the account, but Chase may ask for one if your state requires it.
What happens after you are approved
Once Chase approves your account, you can log in to online banking immediately and start making transfers, paying bills, and depositing checks through mobile deposit. Your physical debit card and checks arrive by mail within 7 to 10 business days. Until they arrive, you can use your account number and routing number to set up automatic payments or direct deposit.
Chase will send you a welcome packet with your account number, routing number, and instructions for setting up online banking. If you opened in person, the banker will give you this information before you leave. Write down your routing number — it is 021000021 for most Chase business accounts, but confirm it in your welcome materials.
If you applied for merchant services, Chase will contact you separately with a processing agreement and fee schedule. Read the agreement carefully — it explains what Chase charges per transaction, monthly fees, and what happens if you close the account. Merchant services typically take three to five business days to activate after you sign the agreement.
If Chase asks for more information
Sometimes Chase requests additional documents or information before they approve your account. This happens most often if your business is in a high-risk industry like cannabis, alcohol, or money services, or if your credit history raises questions. Chase will contact you by email or phone with a list of what they need.
Common requests include a business plan, tax returns from the past two years, or a letter explaining the purpose of the account. If you are self-employed, Chase may ask for personal tax returns as well. Respond to Chase within the timeframe they give you — usually 10 business days — or your application may be denied.
If Chase denies your application, they will send you a letter explaining why. You can reapply after 30 days, and you can also ask to speak with a business banker about what changed or what you can do differently. Some denials are based on ChexSystems or credit reports, which you can dispute if the information is wrong.
Fees and minimum balance requirements
Chase Business Checking has a monthly maintenance fee that ranges from $15 to $25 depending on your location and account tier. You can waive the fee by maintaining a minimum balance — usually $2,500 to $5,000 — or by setting up direct deposit of at least $500 per month. Ask the banker or check online for the exact requirement at your branch.
Additional fees apply for overdrafts, wire transfers, and stop payments. An overdraft fee is typically $35 per occurrence. A domestic wire transfer costs $15 to $20. A stop payment request costs $30. These fees are not automatic — they only apply if you use these services.
Chase Business Savings accounts do not have a monthly fee, but they may have a minimum balance requirement to earn interest. The interest rate and minimum balance vary by account tier and change with market conditions. Check chase.com or ask a banker for the current rates and requirements.
Frequently Asked Questions
Can I open a Chase business account if I do not have an EIN yet?
Yes, if you are a sole proprietor you can use your Social Security number instead. If you have an LLC, partnership, or corporation, you can apply for an EIN before you open the account — it takes 15 minutes by phone — or you can open the account and add the EIN later once you receive it from the IRS.
How long does it take to get approved for a Chase business account?
Most online applications are approved within one to three business days. In-person applications can be approved the same day. If Chase needs additional documents, approval can take one to two weeks. Merchant services approval takes an additional three to five business days after your checking account is approved.
What if I do not have a business address separate from my home?
You can use your home address as your business address. Chase will accept a utility bill or lease agreement showing your home address as proof. You do not need a commercial office or mailbox to open a business account.
Can I open a Chase business account online if I am not a U.S. citizen?
You can open an account if you have an Individual Taxpayer Identification Number (ITIN) and a valid government-issued photo ID. Some Chase branches may require you to open in person instead of online. Call 1-800-935-9935 to ask whether your situation qualifies for online opening.
What is the difference between a business checking account and a personal account?
Business accounts are designed for companies and include features like bulk payments, merchant services, and higher transaction limits. Personal accounts are for individuals. Using a personal account for business can create tax and liability problems, so Chase requires you to open a business account if you are operating a business.