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Chase Business Banking

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Chase Business Checking Account Review

Bottom Line

Chase customers have three different business checking accounts to choose from. Each account is designed for a specific size of a business, ranging from small startups to large companies with an established presence.

Pros

  • Awesome customer support
  • Industry-leading sign-up bonus
  • Wide variety of business services

Cons

  • Many business can’t apply online
  • Low-to-no APY earning

Everyone’s heard of JPMorgan Chase Bank. The New York-based institution has carved out quite a name for itself in the retail banking sector — especially when it comes to rewards credit cards and signup bonuses.

But as a small business owner, you need a little more from a bank than onboarding perks and physical branch access.

You need banking features that help your cash flow rather than slow it down, plus the support of an institution that understands how businesses operate.

Enter Chase for Business and its suite of business bank accounts.

I know firsthand that choosing the right account for your business can make your life a whole lot easier.

Keep reading to find out if a business checking account from Chase Bank is right for you.

What is a Chase Business Checking Account?

Chase customers have three different business checking accounts to choose from.

Each account is designed for a specific size of a business, ranging from small startups to large companies with an established presence.

In this post, we’ll take a close look at all three options.

Chase Business Checking Account Products

  1. Chase Business Complete Banking
  2. Chase Performance Business Checking
  3. Chase Platinum Business Checking

Chase Business Complete Banking

The Chase Business Complete checking account is the bank’s standard business account. It includes built-in card acceptance, same-day business deposits, and up to $5,000 worth of free cash deposits.

Chase QuickAccept is a convenient payment processing feature that lets you use the Chase mobile app to accept card payments from customers.

You can enter the card information manually or use a contactless mobile reader, and the best part is that you’ll have access to the accepted funds that same day.

Business Complete Banking comes with a $15 monthly service fee, but it’s waived if you meet one of the following conditions:

  • Maintain a $2,000 minimum daily balance
  • Make $2,000 in monthly purchases with your Chase Ink business credit card
  • Receive $2,000 or more in QuickAccept deposits monthly
Chase Bank Logo

Earn a $300 Bonus

for opening a Chase Business Complete Banking℠ account
Available nationwide

Learn how

Chase Performance Business Checking

Performance Business Checking is designed for mid-size businesses and comes with a few added perks.

Customers can take advantage of 250 free transactions per month, unlimited deposits and incoming wires, and two free outgoing domestic wires per month. You’ll be able to deposit up to $20,000 in cash per month for free, and the account comes with Positive Pay and Reverse Positive Pay services included.

You can also turn Performance Business Checking into an interest-bearing checking account with APY earning, which you can discuss with your Chase banker.

To get around the $30 monthly fee, your only option is to maintain an average daily balance of $35,000 or more. If you open a linked Chase Business Savings account, the monthly fee for that account is waived.

Chase Platinum Business Checking

Platinum Business Checking is Chase’s highest-tier option for large businesses.

The account is basically a heightened version of Preferred and offers the same features at an elevated level. With Platinum, the number of free qualifying transactions goes up to 500, and you get $25,000 in free cash deposits.

You’ll also get your four most expensive outgoing wires waived each month, and incoming wires and unlimited electronic deposits are always free.

The monthly fee is hefty at $95, and you’ll need an average daily balance of $100,000 or more to avoid it.

Features

Here are the top features that all customers can enjoy with any Chase business checking account.

  • 4,700 Physical Branches: Chase Bank is one of the biggest financial institutions in the US, so it’s no surprise that it has more than enough physical locations to go around. If you’d like to work with a banker, it’s easy to schedule an appointment online with a Chase Business Specialist. And you can always pop into a Chase branch for help with your account when you need it.
  • Online Banking: On top of its status as a leading traditional bank, Chase also offers an excellent online banking experience. Chase Online lets you manage your account activity from anywhere with an internet connection and access both your accounts and credit cards from a single log-in.
  • Mobile App: The Chase mobile app is one of the best mobile banking platforms in the business, and it has the numbers to back it up. The app currently has a 4.4-star rating (out of 5) in the Google Play Store and a 4.8-star rating (out of 5) in the App Store.
  • 16,000 Free ATMs: With more than 16,000 Chase ATMs, the bank has more branded options for fee-free withdrawals than any other bank.

Fees

Like most big banks, Chase isn’t shy when it comes to fees. Unfortunately, this tendency is even more present in business accounts than on the retail side.

No matter which business account you go with, there will be a fair number of fees to navigate, so buckle up.

The good news is that most of them are manageable, if not avoidable, so knowing how to navigate them should keep you in good shape.

Here’s a breakdown of the various fees you can expect to find with a Chase Business account.

Monthly Maintenance Fees

Each Chase business checking account comes with a monthly service fee attached, but all of them can be avoided through qualifying activities within each statement cycle.

To ensure that you don’t end up paying the fee, be sure to choose an account with requirements that you can meet. Otherwise, the fees add up in a hurry.

Looking at the numbers, here’s how much money you’ll be throwing away if you don’t meet the associated minimum deposit or transaction requirements:

  • Chase Business Complete Banking: $15 monthly, adding up to $180 annually
  • Chase Performance Business Checking: $30 monthly, adding up to $360 annually
  • Chase Platinum Business Checking: $95 monthly, adding up to $1,140 annually. Whoa!

QuickAccept Fees

When you use Chase QuickAccept for customer payments, Chase charges a per-transaction fee of 2.6% plus $0.10 for each tap, dip, or swipe. This amount is on par with most major credit card processors.

If you enter the transaction manually, the fee goes up to 3.5% (plus $0.10).

Excessive Transaction Fees

Depending on which account you choose, you’ll have a certain number of debits and non-electronic deposits (ATM, ACH, Wire, and QuickDeposit) fee-free per month. If you go over, you’ll pay $0.40 per transaction.

Again, the key here is to choose the account that’s right for your business. If you find yourself paying fees every month, talk to your banker about migrating to an account that better fits your business — or look for a new bank.

Cash Deposit Fees

Chase also charges a fee if you exceed your account’s free cash deposit amounts of $5,000 for Business Complete, $20,000 for Performance Business, and $25,000 for Platinum Business.

If you deposit more than those amounts, you’ll pay a $0.40 per deposit fee thereafter.

Chase QuickDeposit Fees

Chase QuickDeposit is an optional add-on that comes with a scanner to help you deposit checks efficiently. A two-year contract is required for QuickDeposit, and there’s a $25 monthly fee for your rental of the scanner.

Wire Transfer Fees

Incoming wires are always free, and depending on your account, you’ll get a certain number of outgoing wires each month.

If you go over, here’s what you’ll pay:

  • Outgoing Domestic Wire: $25 online, $25 in-branch
  • Outgoing International Wire: $40 online, $50 in-branch

Overdraft Fees

Whatever you do, avoid overdrafts with Chase.

With a Chase Business Checking account, overdrafts cost $34 for each occurrence, and you can pay this up to 6 times per day if numerous transactions occur.

The good news is that Chase offers free overdraft protection through a linked Business Savings account. These debits will count toward your monthly limit of savings withdrawals, so don’t make this a habit.

ATM Fees

When you use your business debit card to get cash, you won’t pay any additional charge at a Chase ATM.

If you use one that’s out-of-network, there’s a $2.50 fee per withdrawal, plus whatever the ATM charges.

Getting Started

Ready to open your new Chase business account? Head to Chase.com or visit your local branch.

As with any business checking account opening, you’ll need to bring a few important documents.

The type of business you run affects which documents are required, but count on needing a government-issued ID, a secondary form of ID (e.g., a bill), a Tax ID number, and your Articles of Incorporation, if applicable.

Only sole proprietorships, corporations, or single-member LLCs are able to apply online. Any other business formation will have to make an in-person appointment.

Security

As one of the largest financial institutions in the world, suffice it to say that Chase’s banking services are well-protected.

Here are just a few of the main ways that Chase keeps your money and business safe:

  • Multiple authentication checks for account access
  • Continuous suspicious activity monitoring
  • Secure messaging
  • 128-bit encryption technology
  • FDIC insurance

Customer Service

By far, one of Chase’s best benefits is the level of customer support that it offers customers. Yes, there are some fees to watch out for — but as the saying goes, you get what you pay for.

When you need help with your account, you can schedule an in-person meeting with a banker, reach out online through Chase’s secure message center, or talk with a customer service rep over the phone. The Chase Business ServiceLine (1-800-CHASE38) is available 24/7.

Big banks aren’t typically applauded for a high level of service, but Chase is something of an exception, with a solid 3.7-star rating (out of 5) on ConsumerAffairs.

Pros & Cons

Pros:

  • Awesome customer support
  • Industry-leading sign-up bonus
  • Wide variety of business services

Cons:

  • Lots of fees
  • Many business can’t apply online
  • Low-to-no APY earning

FAQs

What is the minimum balance for Chase Business Checking?

It depends on which account you go with. Chase Business Complete has no minimum deposit requirement, but you need at least $25 to open either a Performance or Platinum Business account.

The minimum balance requirement to avoid a monthly fee is between $2,000 and $100,000, depending on your account. Unfortunately, those amounts are going to be unachievable for many businesses.

Which bank is best for business checking accounts?

It depends on what you’re looking for. Big banks like Chase come with a ton of features and support, but they’re rarely the lowest-fee option.

If you want to look into online-only banking options that tend to steer clear of traditional banking fees, check out:

Does Chase Business Checking come with a debit card?

Yes, all of Chase’s business deposit accounts come with a debit card that you can use to make purchases and take out cash.

How much do you need to open a Chase business account?

Chase Business Complete Checking has no minimum opening deposit requirement. Performance Business and Platinum Business both require at least $25 to open an account.

Is A Chase Business Checking Account Right For You?

As you think about the right checking account for your business, there are three main questions that you should ask yourself:

  1. Will this account help my business run better?
  2. How much is this account going to cost me?
  3. Do I need all of these services?

If you feel good about your answer to all three questions, chances are you’ve found a winner.

The key is understanding your needs as a small business owner. Each account option suits varying business types. In other words, it’s not a one-size-fits-all scenario.

The good news is that with Chase, whether you’re just starting out or have been in business for 20 years, you’ve got options.

As you search for the perfect account, always remember the golden rule of BankBonus.com: Your bank should work for you and not the other way around.

Learn More:

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Overview of Positive Pay

What is Positive Pay?

Positive Pay is an automated fraud detection tool offered by the Cash Management Department of most banks. In its simplest form, it is a service that matches the account number, check number and dollar amount of each check presented for payment against a list of checks previously authorized and issued by the company. All three components of the check must match exactly or it will not pay.

How does Positive Pay work?

Positive Pay requires the company to send (transmit) a file of issued checks to the bank each day checks are written. When those issued checks are presented for payment at the bank, they are compared electronically against the list of transmitted checks. The check-issue file sent to the bank contains the check number, account number, issue date, and dollar amount. Sometimes the payee name is included, but is not part of the matching service.

When a check is presented that does not have a "match" in the file, it becomes an "exception item". The bank sends a fax or an image of the exception item to the client. The client reviews the image and instructs the bank to pay or return the check.

There is generally a fee charged by the bank for Positive Pay, although some banks now offer the service for free. The fee might well be considered an "insurance premium" to help avoid check fraud losses and liability.

Источник: http://www.positivepay.net/
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Best Chase Checking and Banking Accounts 2021

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The best Chase checking accounts can simplify your personal and business banking. It’s also possible to earn one-time cash bonuses when you open a new account, up to several hundred dollars worth. If you also happen to own one of the best Chase credit cards, you might be able to enjoy other loyalty bonuses.

Best Chase Checking Accounts 2021

There are different personal checking options from Chase Bank. Complimentary benefits that each account offers include:

  • Free local branch access (4,900 nationwide locations)
  • Chase online banking and online bill pay
  • Chase mobile banking
  • Fee-free withdrawals at 16,000 ATMs
  • Instant money transfers to non-Chase bank accounts using Chase QuickPay (Zelle®)

To open a checking account, you will need to apply in person. It’s also possible to open an account online, but only if Chase offers local banking services to your zip code. If you want to earn the bonus, you’ll usually have to use a special link to open the account online or you’ll need to print out the special page and take it to a local Chase branch.

Best Chase Checking Account Bonuses

Some of the best Chase checking account bonuses (usually after completing the qualifying activities required) are:

  • Chase Total Checking®
  • Chase Sapphire℠ Checking
  • Plus the Chase Business Complete Banking℠

Chase Total Checking

Another option is the Chase Total Checking® account. Some of the benefits of a Chase Total Checking account include:

  • Access to 16,000 Chase ATMs and more than 4,700 branches
  • Access to the Chase Mobile® app

The Chase Mobile app allows users to manage their accounts, deposit checks, transfer money, and more at their convenience from their device.

There is no minimum balance needed to open the account. However, there is a $12 monthly service fee. But, it can be $0 with one of the following, each monthly statement period:

  • Electronic deposits in this account totaling $500 or more OR
  • A balance at the beginning of each day of $1,500 or more in this account OR
  • An average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings, and other balances

New Chase Total Checking® customers can enjoy a $225 bonus when they open a new Chase Total Checking® account and set up a direct deposit. This offer expires on 01/19/2022.

Note that there is no fee if you’re overdrawn by $50 or less at the end of the business day (Chase charges a $34 Insufficient Funds Fee per item during their nightly processing, beginning with the first item that overdraws your account balance by more than $50; there is a maximum of 3 fees per business day, up to $102).

This account is available online nationwide except in Alaska, Hawaii, and Puerto Rico. For branch locations, visit locator.chase.com.

Chase Sapphire Checking

The information for Chase Sapphire℠ Checking has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer. 

The most loyal Chase customers get the best checking account with Chase Sapphire℠ Checking.

Exclusive benefits of the Chase Sapphire Checking include:

  • Fee-free ATMs worldwide
  • Higher ATM and purchases limits with Sapphire Banking Debit Card
  • Four free overdrafts every 12 months
  • No foreign exchange rate adjustment on debit card transactions or withdrawals
  • Free investing with You Invest℠ by J.P. Morgan INVESTMENT PRODUCTS: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE

You don’t need to own a Chase Sapphire Reserve® or Chase Sapphire Preferred® Card to open a Sapphire Checking account. However, you will need to maintain a $75,000 average daily account balance between your Chase banking accounts to waive the $25 monthly account fee.

Chase Secure Banking

If you’re looking for a banking option, the Chase Secure Banking℠ option may be right for you. Benefits include:

  • Access to the Chase Mobile® app and Chase Online
  • Account alerts to monitor balances and more
  • Zero Liability Protection that eases worries about unauthorized card transactions (when reported promptly)
  • The ability to use the Chase debit card to help you budget and spend only the money you have available, without worrying about overdraft fees
  • No paper checks to track

There is no minimum deposit required to open an account. There are also no fees for using Chase Online Bill Pay, money orders, cashier’s checks, or sending money.

The is a $4.95 monthly service fee though.

New Chase checking customers can enjoy $100 when opening a Chase Secure Banking account with qualifying activities. Offer expires 01/19/2022.

Chase Premier Plus Checking

The information for Chase Premier Plus Checking℠ has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.

The Chase Premier Plus Checking℠ is a mid-tier checking account. It’s a good option if you use paper checks or make periodic non-Chase ATMs and currently pay a surcharge.

Premier Plus benefits include:

  • Up to 4 non-Chase ATM monthly reimbursements
  • Fees waived for money orders, cashier’s checks, and counter checks
  • The monthly service fee is waived for linked Chase savings accounts
  • Free Chase design paper checks

The monthly fee is $25 per month. It’s waivable when you maintain an average daily balance of at least $15,000 between your various Chase banking accounts. Linking your Chase first mortgage with automatic payments from this Premier Plus account also waives the monthly fee.

Chase College Checking

The information for Chase College Checking℠ has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.

Chase College Checking℠ is Chase’s only college student checking account. This account is open to college students between ages 17 and 24 at the account opening.

It’s possible not to pay a monthly account fee for up to 5 years. You will either need to enroll in direct deposit or maintain an average ending daily balance of $5,000 or higher. This no-frills checking account offers free Chase local branch and ATM access. You can also use Zelle® to send money to non-Chase bank accounts for free.

New Chase customers can get $100 when you open a Chase College Checking account and complete qualifying activities. Qualifying activities are opening a new Chase College Checking account and completing 10 qualifying transactions within 60 days of account opening. The offer expires on 10/18/2021.

Learn more: Best credit cards for college students

Chase First Banking

A Chase First Banking℠ account can be used by parents to help teach their teens and kids money management. It’s a debit card for kids ages 6-17 with a $0 monthly service fee. This easy-to-use bank account can also help kids aged 6-17 learn to spend, save and earn with the Chase Mobile® app.

Parents can set limits on where and how money is spent as well as how much can be withdrawn at ATMs. Additionally, alerts can be set up to keep track of expenses. Parents can also pay allowances through the Chase Mobile app.

There is a $0 minimum balance to open the account and a $0 monthly service fee. However, you must be an existing Chase checking customer to open a Chase First Banking℠ account.

Share good money habits this season with Chase First Banking.

Bonus: J.P. Morgan Self-Directed Investing

INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE

For those who are interested in investing, J.P. Morgan Self-Directed Investing requires $0 to open and has a $0 monthly service fee. This investment platform allows members to get unlimited commission-free online stock, ETF, fixed income, and options trades when they open an account.

Additionally, they can buy, trade, and sell stocks online or through the Chase Mobile® app, making this a convenient process. The service is designed to be easy to use while still providing security, regardless of whether you choose to use the service online or through the Chase Mobile app. The goal is to help provide tools and resources to give members control of their investments.

Plus, you can choose the account that works best for you, whether that’s General Investing, Traditional IRA, or Roth IRA. There are $0 Online Commission trades available.

Chase allows you to make your portfolio your own with a range of stocks, Exchange Traded Funds (ETFs), options, fixed income, and mutual funds.

This is a great service for beginners to investing who may already have a relationship with Chase.

Best Chase Business Checking Accounts

There are also three Chase business checking options. For example, you may choose to open one of these accounts if you’re a freelancer or a new LLC (side note, check out some of the best credit cards for LLC). One of these business accounts can also be a good option if you have a Chase small business credit card.

If you’re a newcomer to business checking accounts, you will notice that you’re more likely to pay fees for various transactions. The best account may depend on how many customer transactions you have.

Learn more: Best Chase business credit cards

Chase Business Complete Banking

The Chase Business Complete Banking℠ account is an entry-level business account providing the following complimentary benefits:

  • Unlimited electronic deposits, ACH, and Chase QuickDeposit℠
  • Access to 16,000 ATMs and more than 4,700 Chase branches
  • Business specialists available to help with your business needs
  • Account Alerts
  • 24/7 customer service access

Additionally, account holders have access to built-in card acceptance which means card payments can be accepted anytime, anywhere in the U.S., and get transparent pricing with Chase QuickAccept. QuickAccept allows for convenient access to payment processing as card payments are accepted virtually anytime, anywhere in the U.S. It also allows for same-day deposits at no additional cost.

Service members have access to Chase Military Banking. Additionally, Chase’s business debit, deposit, and ATM cards offer members control while providing options for signers and employees access to ATMs or to make purchases. Plus, members have access to Chase mobile and online banking.

There are also multiple ways to waive the $15 monthly service fee, including maintaining a minimum daily balance or purchase on your Chase Ink business card, some of the best Chase business credit cards available.

Earn $300 as a new Chase business checking customer, when you open a new Chase Business Complete Banking℠ account with qualifying activities.

To earn the $300 bonus, complete these qualifying activities:

  • Open a Chase Business Complete Banking℠ account online or in branch
  • Deposit at least $2,000 in new money within 30 days of account opening
  • Maintain a minimum $2,000 balance for 60 days
  • Complete 5 qualifying transactions within 90 days of opening an account

This offer expires on 01/20/2022.

Chase Performance Business Checking

The information for Chase Performance Business Checking® has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.

The mid-tier Chase Performance Business Checking® perks include:

  • 250 free monthly transactions
  • Unlimited free electronic deposits
  • $20,000 monthly cash deposit
  • Free incoming wires and two outgoing wires per month
  • The monthly service fee is waived on a linked personal Chase Premier Plus checking account
  • No additional charge for Positive Pay and Reverse Positive Pay Protection

The $30 monthly service fee is waived by maintaining a combined $35,000 minimum daily balance in qualifying business accounts.

Chase Platinum Business Checking

The information for Chase Platinum Business Checking℠ has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.

Chase Platinum Business Checking℠ is the most deluxe Chase business checking account option.

Benefits include:

  • 500 free monthly transactions
  • Unlimited electronic deposits
  • $25,000 monthly cash deposits
  • All incoming wires are free plus the four most expensive outgoing wires per month are free
  • Free Positive Pay and Reverse Positive Pay Protection
  • Reduced balance requirements for Chase Private Clients
  • Monthly fee waived for a linked Chase Business Premier Savings account

The ongoing monthly fee is $95. However, you can waive it with a $100,000 average daily balance in your qualifying business deposit and business investment accounts.

Summary

In conclusion, these Chase accounts can be a good option if you can waive the monthly account fees. Chase’s personal and business checking accounts are some of the best for brick-and-mortar banks. Owning a Chase bank account can also be a good complement to your existing Chase credit cards.

FAQs

Is Chase a good bank for checking accounts?

Yes, especially if you have one of their many credit cards, and if you live near a branch. Also, you can earn a big bonus when opening a Chase checking account.

How do I avoid fees on my Chase checking account?

The best way to avoid fees on any checking account is to maintain the minimum daily balance requirements for that specific checking account. Or, you can maintain a combined daily balance between your linked Chase accounts. Some accounts may also waive the fee with qualifying direct deposits.

As each account has different fee waiver options, read your account’s specific terms and conditions.

Can I have two Chase checking accounts?

Yes, you can have multiple checking accounts. These accounts can either be all personal, all business, or a combination of personal and business checking accounts. The accounts can either be joint or individual accounts.

If you choose a mid-tier or upper-tier account (like the Premier Plus or Sapphire Banking personal checking accounts), your first multiple accounts may also be free.

Does Chase charge for a checking account?

All personal and business Chase checking accounts have a monthly fee. However, it’s possible to waive the annual fee by meeting certain minimum balance or direct deposit requirements. Chase may also waive the monthly fee on your linked savings accounts if you have a checking account.

Below are the current monthly service fees for the Chase personal checking accounts:

  • Chase Total Checking®: $12
  • Chase Premier Plus Checking℠: $25
  • And Chase Sapphire℠ Checking: $25

It’s possible to waive these monthly fees.

The Chase business checking accounts have the following fees:

  • Chase Business Complete Banking℠: $15
  • Chase Performance Business Checking®: $30
  • And Chase Platinum Business Checking℠: $95

Like the personal checking accounts, it’s possible to waive the monthly fees for the business checking options.

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Источник: https://www.johnnyjet.com/best-chase-checking-accounts/
Fraud Protection Services - Chase Bank

chase.com

With Fraud Protection Services through Chase Commercial Online SM, your company can help minimize check fraud exposure with our fast, simple...

Fraud Protection

Fraud Protection Services

If you think you have an issue with fraud on your account, please contact us at 1-800-242-7338 for assistance.

Chase Fraud Protection Services help you safeguard your business by minimizing your exposure to check fraud and ACH debit fraud. We offer three types of fraud protection that you can activate, depending on your business checking account type:
 

  • Check Monitoring—This is complimentary for all Chase business checking customers. Check Monitoring allows you to set an amount limit for checks you want to verify. Checks over this threshold are sent to your dashboard for review. Checks that aren't verified by 4 p.m. local time will be approved and paid. This feature is especially helpful if your business typically pays the same people or vendors and you have enough time to review checks.
  • Check Protection Services—Chase will validate checks presented for payment based on information you provide. If the check doesn’t match the information you provided (or if you didn't provide any information), Chase will send the check to your dashboard for review. Any check not verified by 4 p.m. local time will be returned unpaid. Check Protection Services are most helpful to customers who typically need to manage a high volume of checks and could benefit from additional support. This feature is only available to Chase Performance Business Checking®, Chase Platinum Business Checking℠ and Chase Analysis Business Checking accounts.
  • ACH debit block—You can block all ACH debit transactions or tell us who is authorized to post ACH debit transactions to your account. If your account is eligible, you can sign up for either Check Monitoring or Check Protection Services but not both. ACH debit block is most helpful to customers who regularly use ACH and can benefit from additional safeguards. This feature is only available to Chase Performance Business Checking®, Chase Platinum Business Checking℠ and Chase Analysis Business Checking accounts.

Check Monitoring is a complimentary service for all Chase business checking customers. Check Protection Services and ACH debit block are both complimentary, but are only available to Chase Performance Business Checking® and Chase Platinum Business Checking℠ accounts.

Check Protection Services and ACH debit block are both complimentary, but are only available to Chase Performance Business Checking® and Chase Platinum Business Checking℠ accounts. If your account is eligible, you can sign up for either Check Monitoring or Check Protection Services but not both. If interested, you can upgrade your account. Set up an appointment or go to your local branch to get started.

Источник: https://www.chase.com/business/online-banking/fraud-protection
API Store. JPMorgan Chase. Download the App. Manage investments, banking and more. In addition to employee pricing, we've incorporated more JPMorgan Chase Perks and Programs. The deal is the latest Sep 24, 2020 · Sources say the review is being led by MediaLink; the U. Morgan Online (SM). The card reader costs $49. Mar 23, 2021 · JPMorgan Chase announced in Oct 2020 its new QuickAccept service that allows businesses to process credit cards through a mobile app or a contactless reader, which places it in direct competition Jan 27, 2021 · London– JPMorgan Chase (NYSE: JPM) today announced it will offer U. [email protected] – Logout, Onboarding – Employee Onboarding

Overview of Positive Pay

What is Positive Pay?

Positive Pay is an automated fraud detection tool offered by the Cash Management Department of most banks. In its simplest form, it is a service that matches the account number, check number and dollar amount of each check presented for payment against a list of checks previously authorized and issued by the company. All three components of the check must match exactly or it will not pay.

How does Positive Pay work?

Positive Pay requires the company to send (transmit) a file of issued checks to the bank each day checks are written. When those issued checks are presented for payment at the bank, they are compared electronically against the list of transmitted checks. The check-issue file sent to the bank contains the check number, account number, issue date, and dollar amount. Sometimes the payee name is included, but is not part of the matching service.

When a check is presented that does not have a "match" in the file, it becomes an "exception item". The bank sends a fax or an image of the exception item to the client. The client reviews the image and instructs the bank to pay or return the check.

There is generally a fee charged by the bank for Positive Pay, although some banks now offer the service for free. The fee might well be considered an "insurance premium" to help avoid check fraud losses and liability.

Источник: http://www.positivepay.net/

Chase Business Checking Account Review

Bottom Line

Chase customers have three different business checking accounts to choose from. Each account is designed for a specific size of a business, ranging from small startups to large companies with an established presence.

Pros

  • Awesome customer support
  • Industry-leading sign-up bonus
  • Wide variety of business services

Cons

  • Many business can’t apply online
  • Low-to-no APY earning

Everyone’s heard of JPMorgan Chase Bank. The New York-based institution has carved out quite a name for itself in the retail banking sector — especially when it comes to rewards credit cards and signup bonuses.

But as a small business owner, you need a little more from a bank than onboarding perks and physical branch access.

You need banking features that help your cash flow rather than slow it down, plus the support of an institution that understands how businesses operate.

Enter Chase for Business and its suite of business bank accounts.

I know firsthand that choosing the right account for your business can make your life a whole lot easier.

Keep reading to find out if a business checking account from Chase Bank is right for you.

What is a Chase Business Checking Account?

Chase customers have three different business checking accounts to choose from.

Each account is designed for a specific size of a business, ranging from small startups to large companies with an established presence.

In this post, we’ll take a close look at all three options.

Chase Business Checking Account Products

  1. Chase Business Complete Banking
  2. Chase Performance Business Checking
  3. Chase Platinum Business Checking

Chase Business Complete Banking

The Chase Business Complete checking account is the bank’s standard business account. It includes built-in card acceptance, same-day business deposits, and up to $5,000 worth of free cash deposits.

Chase QuickAccept is a convenient payment processing feature that lets you use the Chase mobile app to accept card payments from customers.

You can enter the card information manually or use a contactless mobile reader, and the best part is that you’ll have access to the accepted funds that same day.

Business Complete Banking comes with a $15 monthly service fee, but it’s waived if you meet one of the following conditions:

  • Maintain a $2,000 minimum daily balance
  • Make $2,000 in monthly purchases with your Chase Ink business credit card
  • Receive $2,000 or more in QuickAccept deposits monthly
Chase Bank Logo

Earn a $300 Bonus

for opening a Chase Business Complete Banking℠ account
Available nationwide

Learn how

Chase Performance Business Checking

Performance Business Checking is designed for mid-size businesses and comes with a few added perks.

Customers can take advantage of 250 free transactions per month, unlimited deposits and incoming wires, and two free outgoing domestic wires per month. You’ll be able to deposit up to $20,000 in cash per month for free, and the account comes with Positive Pay and Reverse Positive Pay services included.

You can also turn Performance Business Checking into an interest-bearing checking account with APY earning, which you can discuss with your Chase banker.

To get around the $30 monthly fee, your only option is to maintain an average daily balance of $35,000 or more. If you open a linked Chase Business Savings account, the monthly fee for that account is waived.

Chase Platinum Business Checking

Platinum Business Checking is Chase’s highest-tier option for large businesses.

The account is basically a heightened version of Preferred and offers the same features at an elevated level. With Platinum, the number of free qualifying transactions goes up to 500, and you get $25,000 in free cash deposits.

You’ll also get your four most expensive outgoing wires waived each month, and incoming wires and unlimited electronic deposits are always free.

The monthly fee is hefty at $95, and you’ll need an average daily balance of $100,000 or more to avoid it.

Features

Here are the top features that all customers can enjoy with any Chase business checking account.

  • 4,700 Physical Branches: Chase Bank is one of the biggest financial institutions in the US, so it’s no surprise that it has more than enough physical locations to go around. If you’d like to work with a banker, it’s easy to schedule an appointment online with a Chase Business Specialist. And you can always pop into a Chase branch for help with your account when you need it.
  • Online Banking: On top of its status as a leading traditional bank, Chase also offers an excellent online banking experience. Chase Online lets you manage your account activity from anywhere with an internet connection and access both your accounts and credit cards from a single log-in.
  • Mobile App: The Chase mobile app is one of the best mobile banking platforms in the business, and it has the numbers to back it up. The app currently has a 4.4-star rating (out of 5) in the Google Play Store and a 4.8-star rating (out of 5) in the App Store.
  • 16,000 Free ATMs: With more than 16,000 Chase ATMs, the bank has more branded options for fee-free withdrawals than any other bank.

Fees

Like most big banks, Chase isn’t shy when it comes to fees. Unfortunately, this tendency is even more present in business accounts than on the retail side.

No matter which business account you go with, there will be a fair number of fees to navigate, so buckle up.

The good news is that most of them are manageable, if not avoidable, so knowing how to navigate them should keep you in good shape.

Here’s a breakdown of the various fees you can expect to find with a Chase Business account.

Monthly Maintenance Fees

Each Chase business checking account comes with a monthly service fee attached, but all of them can be avoided through qualifying activities within each statement cycle.

To ensure that you don’t end up paying the fee, be sure to choose an account with requirements that you can meet. Otherwise, the fees add up in a hurry.

Looking at the numbers, here’s how much money you’ll be throwing away if you don’t meet the associated minimum deposit or transaction requirements:

  • Chase Business Complete Banking: $15 monthly, adding up to $180 annually
  • Chase Performance Business Checking: $30 monthly, adding up to $360 annually
  • Chase Platinum Business Checking: $95 monthly, adding up to $1,140 annually. Whoa!

QuickAccept Fees

When you use Chase QuickAccept for customer payments, Chase charges a per-transaction fee of 2.6% plus $0.10 for each tap, dip, or swipe. This amount is on par with most major credit card processors.

If you enter the transaction manually, the fee goes up to 3.5% (plus $0.10).

Excessive Transaction Fees

Depending on which account you choose, you’ll have a certain number of debits and non-electronic deposits (ATM, ACH, Wire, and QuickDeposit) fee-free per month. If you go over, you’ll pay $0.40 per transaction.

Again, the key here is to choose the account that’s right for your business. If you find yourself paying fees every month, talk to your banker about migrating to an account that better fits your business — or look for a new bank.

Cash Deposit Fees

Chase also charges a fee if you exceed your account’s free cash deposit amounts of $5,000 for Business Complete, $20,000 for Performance Business, and $25,000 for Platinum Business.

If you deposit more than those amounts, you’ll pay a $0.40 per deposit fee thereafter.

Chase QuickDeposit Fees

Chase QuickDeposit is an optional add-on that comes with a scanner to help you deposit checks efficiently. A two-year contract is required for QuickDeposit, and there’s a $25 monthly fee for your rental of the scanner.

Wire Transfer Fees

Incoming wires are always free, and depending on your account, you’ll get a certain number of outgoing wires each month.

If you go over, here’s what you’ll pay:

  • Outgoing Domestic Wire: $25 online, $25 in-branch
  • Outgoing International Wire: $40 online, $50 in-branch

Overdraft Fees

Whatever you do, avoid overdrafts with Chase.

With a Chase Business Checking account, overdrafts cost $34 for each occurrence, and you can pay this up to 6 times per day if numerous transactions occur.

The good news is that Chase offers free overdraft protection through a linked Business Savings account. These debits will count toward your monthly limit of savings withdrawals, so don’t make this a habit.

ATM Fees

When you use your business debit card to get cash, you won’t pay any additional charge at a Chase ATM.

If you use one that’s out-of-network, there’s a $2.50 fee per withdrawal, plus whatever the ATM charges.

Getting Started

Ready to open your new Chase business account? Head to Chase.com or visit your local branch.

As with any business checking account opening, you’ll need to bring a few important documents.

The type of business you run affects which documents are required, but count on needing a government-issued ID, a secondary form of ID (e.g., a bill), a Tax ID number, and your Articles of Incorporation, if applicable.

Only sole proprietorships, corporations, or single-member LLCs are able to apply online. Any other business formation will have to make an in-person appointment.

Security

As one of the largest financial institutions in the world, suffice it to say that Chase’s banking services are well-protected.

Here are just a few of the main ways that Chase keeps your money and business safe:

  • Multiple authentication checks for account access
  • Continuous suspicious activity monitoring
  • Secure messaging
  • 128-bit encryption technology
  • FDIC insurance

Customer Service

By far, one of Chase’s best benefits is the level of customer support that it offers customers. Yes, there are some fees to watch out for — but as the saying goes, you get what you pay for.

When you need help with your account, you can schedule an in-person meeting with a banker, reach out online through Chase’s secure message center, or talk with a customer service rep over the phone. The Chase Business ServiceLine (1-800-CHASE38) is available 24/7.

Big banks aren’t typically applauded for a high level of service, but Chase is something of an exception, with a solid 3.7-star rating (out of 5) on ConsumerAffairs.

Pros & Cons

Pros:

  • Awesome customer support
  • Industry-leading sign-up bonus
  • Wide variety of business services

Cons:

  • Lots of fees
  • Many business can’t apply online
  • Low-to-no APY earning

FAQs

What is the minimum balance for Chase Business Checking?

It depends on which account you go with. Chase Business Complete has no minimum deposit requirement, but you need at least $25 to open either a Performance or Platinum Business account.

The minimum balance requirement to avoid a monthly fee is between $2,000 and $100,000, depending on your account. Unfortunately, those amounts are going to be unachievable for many businesses.

Which bank is best for business checking accounts?

It depends on what you’re looking for. Big banks like Chase come with a ton of features and support, but they’re rarely the lowest-fee option.

If you want to look into online-only banking options that tend to steer clear of traditional banking fees, check out:

Does Chase Business Checking come with a debit card?

Yes, all of Chase’s business deposit accounts come with a debit card that you can use to make purchases and take out cash.

How much do you need to open a Chase business account?

Chase Business Complete Checking has no minimum opening deposit requirement. Performance Business and Platinum Business both require at least $25 to open an account.

Is A Chase Business Checking Account Right For You?

As you think about the right checking account for your business, there are three main questions that you should ask yourself:

  1. Will this account help my business run better?
  2. How much is this account going to cost me?
  3. Do I need all of these services?

If you feel good about your answer to all three questions, chances are you’ve found a winner.

The key is understanding your needs as a small business owner. Each account option suits varying business types. In other words, it’s not a one-size-fits-all scenario.

The good news is that with Chase, whether you’re just starting out or have been in business for 20 years, you’ve got options.

As you search for the perfect account, always remember the golden rule of BankBonus.com: Your bank should work for you and not the other way around.

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4 Replies to “Chase positive pay”

  1. I'm not going to be able to help. I'd start with PayPal support to see if they can help.

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