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How To Open a Chase Checking Account
Banking / Checking Account
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Chase is the commercial banking division of JP Morgan Chase & Co. According to its website, the bank provides personal banking services, credit cards, mortgages and other financial services to nearly half of the households in the U.S.
If you’re interested in opening a Chase checking account, you can open one in a few minutes on the bank’s website or in a local branch. Here’s how:
How To Open a Chase Checking Account
Steps To Open
- Gather the Required Items and Information
- Social Security number
- Driver’s license or state-issued ID
- Contact information, including your name, address, email address and phone number
- Note: If you are opening a joint account, both you and the co-account holder need to provide this information.
- Choose a Checking Account
- Chase offers several different checking account options. Preview places that give cash for gift cards near me by going to the Chase website, then click the “Open Now” button for the account you want to open.
- Fill Out an Online Application
- If you are a current Chase customer, you can sign in to your account and use a prefilled application to open a new account. If you are not a current Chase customer, complete and submit the online application.
- Fund the Account
- Chase does not require a deposit to open an account. However, you have to fund the account within 60 days of opening.
Can You Apply in Person?
If you don’t want open an account online, you can always visit the nearest Chase branch and open a checking account in person. You’ll need to provide the same information and documents outlined in the previous steps.
If you want to open a joint account, applying in person is the only option. You and the co-account holder must go to the bank together.
Chase Checking Account Options
Chase offers four different checking account options. To determine which Chase checking account is right for you, review the details on each and note the key differences.
Chase Total Checking
The Chase Total Checking account offers access to 16,000 ATMs and more than 4,700 branches, as well as debit-card chip technology protection and 24/7 customer service. You also get online bill pay and mobile banking.
There is a monthly service fee of $12 for this account. However, Chase waives the monthly service fee if you meet requirements for direct deposit, minimum daily balance and/or beginning day balance.
Chase Secure Banking
Chase Secure Banking provides the services you need from a checking account. In addition to access to more than 16,000 ATMs and online banking services, this account comes with a fee waiver for counter checks and money orders.
There is a fixed monthly fee of $4.95 for this account that cannot be waived.
Chase Premier Plus Checking
This interest-bearing account offers priority service to customers, who get access to all Chase Total Checking benefits. Account-holders also get free checks and fees waived at non-Chase ATM transactions (up to four times per statement period).
Premier Plus account holders get other perks like a Chase First Banking account for children, a complimentary or discounted safe deposit box and no fees for paper checks. You can waive the $25 monthly fee by meeting certain requirements.
Chase Student Checking
Chase Student Checking offers three different accounts to meet student needs:
- Chase First Banking: Available to ages 6 and older
- Chase High School Checking: Available to students ages 13 to 17
- Chase College Checking: Available to students ages 17 to 24
To open a Chase First Banking account, the child’s parent or guardian must have a qualifying Chase checking account. There is no monthly fee for this account. It comes with a debit card and access to Chase branches and ATMs.
Chase High School Checking and Chase College Checking accounts offer more services — namely access to online and mobile banking. There is a monthly fee for Chase College Checking, but this can be waived.
Chase’s Monthly Account Fees
Not all Chase checking accounts have monthly service fees, but those that do charge anywhere from $4.95 to $25. Some of these fees can be waived it you meet certain criteria. You can also get hit with fees for using non-Chase ATMs, replacing cards or making purchases outside the U.S.
You can avoid monthly service fees by maintaining minimum balance requirements, receiving qualifying direct deposits or linking your account to your Chase mortgage. Your deposit account agreement provides specific instructions on how to avoid fees on your account.
What Is the Minimum Balance for Chase Checking Accounts?
There is no minimum balance required to open a Chase checking account. However, you must fund the account within 60 days of opening it.
One of the ways to avoid service fees on some accounts is to maintain a minimum balance. Here are the requirements for those accounts:
- Chase Total Checking: $1,500 beginning daily balance or $5,000 combined balance in the account linked with qualifying deposits or investments
- Chase Premier Plus Checking: Average beginning daily balance of at least $15,000 in any combination of this account and linked qualifying deposits/investments
- Chase College Checking: Average beginning day balance of at least $5,000 in any combination of this account and linked qualifying deposits/investments
Should You Open a Chase Checking Account?
If you’re thinking of opening a new checking account, take a closer look at what Chase has to offer. It gives you the convenience of a national bank, including access to thousands of local branches and ATMs across the country. Chase also offers a variety of services such as mortgages, loans and credit cards.
Chase frequently offers promotions bank of america wire transfer routing number california attract new customers, and you might be able to snag a lucrative cash bonus just for opening a new account. Check out the latest Chase promotions before you choose a new account.
This article has been updated with additional reporting since its original publication. This content is not provided by Chase. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Chase.
Editorial Note: This content is not provided or commissioned by the bank advertiser. Opinions expressed here are author’s alone, not those of the bank advertiser, and have not been reviewed, approved or otherwise endorsed by the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.
About the Author
Kim Olson began her freelance career after first pursuing an editorial career in college textbook development. She has a background in medical and legal transcription. Since 2006, she has ghostwritten thousands of articles for a variety of online venues with a focus on consumer finance.
U.S. Bank vs. Chase: Ally bank refinance home loan Checking Account Offers
As you explore banks where you may want to set up a checking account, you'll encounter an enticing offer: a free checking account. But the truth is that not every what is an online id bank of america "free" checking account is truly free. Fortunately, there are still top banks out there that offer actual free checking accounts where you can stash your hard-earned cash.
U.S. Bank vs. Chase Free Checking Accounts
Two of the largest banks that offer free checking accounts are Chase Bank and U.S. Bank. However, be aware that the U.S. Bank free checking accounts and checking accounts at Chase usually just exclude maintenance fees. You may also need to meet certain conditions for these maintenance fees to be excluded. Outside of maintenance fees, other fees can apply as well, so it's a good idea to read the fee schedule of all of these accounts carefully. The two banks come with unique account offerings and fees.
U.S. Bank Free Checking Account
U.S. Bank offers a free Student Checking account with no monthly maintenance fees or minimum balance requirements. The U.S. bank free checking account also requires a fairly low minimum opening deposit of $25. For account holders, all The giving keys inc transactions made through U.S. Bank ATMs (and the first four uses of external bank ATMs per statement period) are also free of charge.
However, the U.S. Bank free checking account does not accrue interest on any money deposited. And while you may never incur them, you should know that the free checking account comes with a few fees. For example, the bank charges for paper statements, overdraft protection, and returned deposits or cashed checks.
In addition to the free checking account, U.S. Bank offers three fee-waivable checking accounts—that is, the monthly fee can be waived if you meet certain requirements. These accounts include the Easy Checking, Gold Checking, and Platinum Checking accounts. Depending on the account, you may need to meet a certain average daily account balance, make a certain minimum monthly deposit amount, be of a certain age, or have other accounts with the bank to waive the maintenance fee of $6.95, $14.95, and $24.95 for the three accounts, respectively. Unlike the other checking accounts, the Platinum Checking account accrues interest on your balance. This may make it more attractive to account holders who want to grow their deposits.
U.S. Bank offers a debit card and free internet banking with bill pay for all of its free and fee-waivable checking accounts. Additionally, the bank employs a mobile banking system that is compatible with many web-based mobile devices so that you can check your account on nsb housing loan interest rate go or deposit checks for free. U.S. Bank archives all checks electronically and provides either details about or images of canceled checks in your statements, depending on your account.
Chase Bank Checking Account Features
When it comes to free checking accounts, Chase Bank does not have a completely free account like the U.S. Bank free checking account. However, it does have a few fee-waivable checking account options to choose from. These include the Chase Total Checking, Chase Premier Plus Checking, and Chase Sapphire Checking accounts. If you make a certain deposit amount into your account or hold the required beginning daily balance or minimum average beginning daily balance in your account, the bank will waive the monthly service fee from Chase so that you can, in effect, use the account for free.
Of the three accounts, the Chase Total Checking account has the most lenient requirements for waiving the service fee. It requires $500 in direct deposits, a $1,500 beginning day balance, or an average beginning day balance of $5,000 to waive the $12 monthly service fee from Chase. It requires a $25 minimum opening deposit. The other two accounts require higher daily balance requirements to waive a $25 monthly fee. But unlike the Chase Total Checking account, these accounts accrue interest.
Aside from maintenance fees, the Chase Total Checking account charges for using ATMs belonging to other banks. However, external ATM use is free for the first four monthly uses if you have the Chase Premier Plus Checking account, and is always free if you have the Chase Sapphire Checking account. Other common checking account fees include overdraft protection fees and debit card protection coverage fees.
All of the Chase checking accounts provide free online bill payment and access to a mobile banking service for your cell phone or other mobile devices. In addition, you can view canceled checks on your online statements. Chase also offers free ATM transactions at Chase Bank ATM locations. You should also expect zero liability entergy bill pay billmatrix on their ATM/debit cards in addition to the standard protection offered by VISA check cards. If your card is used in an unauthorized manner, Chase Bank will refund your money to your account.
Comparing Free Checking Offerings from U.S. Bank and Chase Bank
When you compare the free checking account offerings of U.S. Bank and Chase Bank, it's clear that only U.S. Bank offers an actual free checking account with no maintenance fees. While Chase Bank offers a variety of fee-waivable checking accounts, the monthly service fee on checking accounts at Chase can only be waived by meeting certain requirements. This means that someone who doesn't want to fuss with these requirements may find it easier to open a U.S. Bank free checking account. But depending on your financial situation, you may be able to meet the requirements of waiving the fee for a U.S. Bank fee-waivable account or a checking account at Chase without much change twitter to business account.
It's also important to remember that cost isn't the only factor to consider when opening a checking account. You should also compare the different checking account options offered at the same bank and the convenience features or financial incentives they provide.
Like most banks nowadays, U.S. Bank and Chase Bank both offer comparison tools and charts on their websites to help you choose the right account for your needs and budget. So read the fine print, compare accounts, and choose an account based on your actual banking needs.
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Bank securely with the Chase Mobile® app. Manage your investments with J.P. Morgan and your Chase accounts: monitor your credit score, budget and track monthly spending, send and receive money with Zelle® and deposit checks.
Manage your accounts
• Review activity in all of your accounts: checking, savings, credit card, home, auto, business and commercial banking
• Deposit a check
Manage your investments with J.P. Morgan
• Get commission-free trades for stocks, options, ETFs, mutual funds and more
• Use portfolios designed by us and matched to your goals
Payments: Convenient ways to pay
• Send and receive money with Zelle
• Schedule, edit or cancel payments for your Chase credit card and other bills
• Transfer money between your accounts
Credit Journey: Check your credit score
• Get your credit score for free
• Help shield yourself from identity fraud with credit monitoring
Budget: Get a clearer picture of your finances
• See daily spending insights at a glance
• Set up your budget and track debit/credit card transactions
• Grow your savings consistently with Autosave
Security: Keep your money safe & secure
• 24/7 fraud monitoring for unusual account activity
• Lock and unlock your account if you misplace your card
Rewards, offers & deals
• Track and redeem your Chase rewards
• Earn statement credit by using Chase Offers with eligible credit/debit cards
Connect with Chase
• Schedule a meeting with a banker
• Find the nearest Chase branches and ATMs
• Speak with a representative 24/7
• Some features are available for eligible customers and accounts only. Any time you review your balance, keep in mind it may not reflect all transactions including recent debit card transactions or checks you have written. A qualifying Chase transfer account is required to transfer funds via text.
• There is no charge from Chase, but message and data rates may apply. Such charges include those from your communications service provider. Delivery of alerts may be delayed for various reasons, including service outages affecting your phone, wireless or internet provider; technology failures; and system capacity limitations.
• For illustrative purposes only—not intended as an endorsement or recommendation. Can i open a bank account online chase projections or other information generated regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results
• Commission-free online trades apply to trading in U.S. listed stocks, Exchange-Traded Funds (ETFs), and options. Option trades are subject to a $0.65 per-contract fee. Sales are subject to a regulatory transaction fee of between $0.01 and $0.03 per $1,000 of principal. There are costs associated with owning certain investments, including mutual funds and ETFs. Offer terms and pricing are subject to change and/or termination. Other fees and restrictions (including account types) apply. See chase.com/online-investing-pricing for terms and conditions.
• Options contract and other fees may apply.
• J.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Morgan Securities LLC (JPMS), a registered broker-dealer and investment advisor, member of FINRA and SIPC. Annuities are made can i open a bank account online chase through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states.
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• MAY LOSE VALUE
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• Deposit products provided by JPMorgan Chase Bank, N.A. Member FDIC
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We're frequently updating what is an online id bank of america app in order to give you the best experience. Turn on auto updates to ensure you always have the latest version.
This update includes:
• Support for new iOS 15 time sensitive notifications.
• Minor bug fixes and improvements.
Keep in mind: Features are subject to customer eligibility.
Ratings and Reviews
4.8 out of 5
It's excellent, packed with technology
I have done a review of the chase app over a year ago and had a lot to gripe about. I hated the fact that you had to accept quickpays. I also hated the fact that you needed to login to conduct transactions after you used your finger print to get into your app. Both of these annoyances have been fixed with this update. I absolutely love the way chase deducts the money for Bill pays right on the spot. It makes your balances so much easier to manage. I love the freshness and the high-tech feel of the app. One area for improvement would be to allow a direct dialed phone call to a representative right from the app having already completed the authentication process. Also, allow the app to show images of all transactions, including deposits just like BOA does. Other than those 2, the app is perfect.
Update. I also love managing my brokerage account right through the app with the ability to move money quickly between my brokerage and checking account. This app is really the best of the best in the banking world.
Mortgage experience and mobile experience stink
I was a chase credit card customer and the app was always fine for what I needed. We’re currently going through the home loan process and your app is embarrassingly terrible. I can’t believe such a large bank has an app that can’t render on an iPhone. For two or three weeks we had someone listed in the app as part of our loan team and it wasn’t the correct rep. We kept reaching out to him with no response, come to find out that we got put with a different rep but the app doesn’t update that detail into the loan moves into a new status. What?! The screens are all tiny and you can’t zoom in!! You can’t download the documents from your phone either. You also can’t go into the mortgage portal and open a document and try to go back and do something. The app signs you out instantly. The reps even mentioned how terrible it was. Anytime I use the app to look for tasks I have to close the app and re log in multiple times. The message your team function is completely useless. Our rep told us she doesn’t get a notice when we message through that method and to email her instead. Why the heck even put it there?! We also have been asked repeatedly to upload the same information over and over. According to the rep, they have tons of issues seeing our documents and they get “lost”. How reassuring. It’s only the biggest purchase I’ve ever made and all of my personal information. Y’all need to fix these issues. This app is bad.
Terrible Customer Service and App
First of all I rarely leave negative reviews, if my experience is less than satisfactory I will simply choose to leave no review rather than a negative one. That said the Chase bank as well as their app left me little choice. Let’s start with the app. For weeks I could not even use it because every time I tried signing in it would crash forcing me to use a cumbersome web browser for my mobile banking. Once the app started working (about a month and several updates later) I found it to have way less features and to be much less organized than any other banking app I have used. This alone was disappointing however their customer service is even worse which I find quite disturbing for an organization that handles ones finances. They seem to know very little of what they are doing as they misplaced several important documents that I had faxed them directly from a bank branch claiming they had not received them forcing me to spend hours sending them though several jp morgan chase bank customer service formats. After this I call back only talk to a different representative to find out they had received the fax a week ago when I had sent it originally. This alone was very frustrating but to make it worse customer service was very unfriendly and unhelpful which I found quite unprofessional for a banking institution. Sadly from my experience I would not recommend this app nor chase bank itself. Sorry
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Chase Savings Account Review
Chase Savings Account
When you're on the search for a new savings account, Chase is an easy choice given that you might have a branch nearby.
The Chase Savings account is worth your consideration if you prefer Chase's major branch and ATM presence in the U.S. -- you're getting convenience.
However, there are many other savings accounts available on the market. We'll review the Chase Savings account rates, fees, can i open a bank account online chase other benefits -- and compare it to other savings account options.
A checking account is a great place to keep funds you need for bills, but in all likelihood, your checking account isn't making you money.
On the other hand, interest is guaranteed with a savings account, and Chase Bank gives its customers two ways to maximize their deposits and grow their personal net worth.
Whether it’s your first account or you’re opening an additional account, you can choose between a Chase Savings and a Chase Plus Savings.
The minimum deposit to open a Chase Savings and a Chase Plus Savings is $25 and $100, respectively. The bank doesn’t offer a flat interest rate.
Chase Savings Account Pros & Cons
Rather, rates depend on the type of account and your account balance. With a regular Chase savings account, all balances earn very low APY. This may not be anything to get excited about.
The good news, however, is that Chase offers an additional way to grow your money. If you’re looking for a higher return, a Chase Plus Savings account is a better fit.
If you don’t link your Chase Plus Savings to an eligible Chase checking account, you’ll earn tiered can i open a bank account online chase rates based on your balance.
However, link your Chase Plus Savings to a Chase Premier Plus Checking account or a Chase Premier Platinum Checking account, and you’ll qualify for relationship rates which can increase earning potential.
Chase Plus Savings accounts tiered relationship rates are as followed:
Chase Plus Savings Accounts Tiered Relationship Rates
|Balance||Interest Rate||Annual Percentage Rate|
|$0 - $49,999||0.03%||0.03%|
|$50,000 - $99,999||0.05%||0.05%|
|$100,000 - $249,999||0.06%||0.06%|
When shopping for any type of bank account, you owe it to yourself to compare interest rates and options.
Chase savings account rates may be higher than some financial institutions, but its rates may not be as favorable as those offered by some online banks.
Some people prefer a brick and mortar bank, and they like the idea of being able to speak with a banker face-to-face if a problem arises.
If you don’t care about face-to-face interaction, an online high-yield savings account can offer a higher return.
Related:View Chase Savings Accounts Cash Bonus Deals & Coupons
How it Compares to Other Online Savings Accounts
Online banks don't have to pay the operating costs of running physical branches, unlike Chase.
Therefore, they can offer savings accounts that have much higher interest rates, in addition to lower and fewer account fees.
Understanding Chase Savings Account Monthly Fees
Earning interest is an effortless way to grow a savings account. But unfortunately, many banks charge a monthly service fee. Chase Bank is no exception.
Chase Savings Account Fees
|Monthly Maintenance Fee||$5|
|Online or Automated Phone Stop Payment||$25|
|Deposited Item Returned or Cashed Check Returned||$12|
|Domestic and International Incoming||$15|
|Consumer Online USD/FX International Wire Transfer Fee||$40|
If you don't want monthly maintenance or service fees eating away at your balance, Chase offers severals options to help its customers avoid monthly fees.
There’s a $5 monthly service fee for a Chase Savings account, but the bank will waive this fee if at least one of the following conditions applies to you each statement cycle:
- you’re under the age of 18
- you maintain at least a $300 minimum daily balance
- you set up at least one repeat automatic transfer of $25 from a Chase checking account
- you link your savings to a Chase Premier Plus Checking, Chase Premier Platinum Checking, or Chase Private Client Checking account
There's a $20 monthly service fee with a Chase Plus Saving, which the bank waives if you maintain at least a $15,000 minimum daily balance in your account, or if you link the account to a Chase Premier Plus Checking, Chase Premier Platinum Checking, or Chase Private Client Checking account.
Similar to interest rates, monthly service fees also vary by financial institution.
Ally Bank doesn't charge a monthly service fee, nor does the bank charge for ACH transfers to a non-Ally Bank account.
As far as competitors, American Express National Bank doesn't charge a monthly service fee for its high-yield savings account, and you can avoid the $30 monthly service fee with Synchrony Bank by maintaining a minimum balance of $30.
Another Savings Account Fee to Watch For
Federal law limits the number of transactions you can make from a savings account per monthly statement cycle (six withdrawals and transfers).
This limit does not apply to transfers and withdrawals conducted at an ATM branch or in-person.
If you exceed six withdrawals or transfers, Chase Bank charges $5 per transaction over the limit. But if the balance in your Chase Plus Savings account is greater than $15,000, the bank may waive this fee.
What You Can Expect From a Chase Savings Account
Features of every Chase savings account include:
1. Automatic savings program
Even if you know the importance of saving money, paying yourself first takes discipline.
Fortunately, every Chase savings account features an automatic savings program.
If you have a Chase checking account, you can opt-in this program and set up recurring automatic transfers from your checking into your savings account. You determine the schedule and the amount of each transfer.
2. Overdraft protection
Because of a miscalculation or a forgotten transaction, you might overdraw your account.
Chase Bank’s overdraft protection lets you link a Chase savings account to a Chase checking account. If a transaction results in an overdraft, funds are automatically transferred from your savings account to cover the transaction, which helps you avoid overdraft fees.
There's no fee to enroll in overdraft protection. Currently, Chase has a $10 overdraft protection fee for each transfer (fee waived for Chase Premier Platinum accounts).
3. Online/mobile banking
Online banking is convenient and simplifies the banking experience. As long as you have a computer and Internet, you can manage your Chase savings account 24 hours a day, seven days a week from anywhere.
Transfer funds, set up alerts, and monitor your account activity. You can even download the bank’s app to your mobile device and monitor your account when you’re away from a computer.
4. Chase savings account coupon code
Chase Bank periodically offers sign up bonuses for opening a checking or savings account.
The current promotion offers $150 when you open a new Chase savings account and deposit $10,000 or more within ten business days, or maintain a $10,000 balance for 90 days.
Visit the bank’s website to get your Chase savings account coupon and bring it to a branch. If unable to take advantage of this bonus, check back for future promotions.
Final Verdict: Is This the Right Account For You?
With more than 15,500 ATMs and 5,300 branches, a Chase Bank savings account is a good fit if you want to access your money nationwide.
Funds are FDIC-insured up to $250,000 per account, so you can deposit your money with confidence.
This simple account offers several ways to avoid a monthly service fee, and overdraft protection keeps your account in good standing.
But although your interest rate can increase as your savings account balance increases, Chase Bank doesn’t offer the most favorable savings rates.
If you typically maintain a high balance in your savings account, you’ll do better with an online high-yield savings account which offers a better return on your money.
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How To Open A Business Bank Account Online: The 5 Best Options
In the same way that technology has changed the way we book a flight, hail a cab (or Uber), order takeout, or even buy a car, technology is changing the way we interact with the bank. For example, my mortgage payment is automatically deducted from my paycheck every month and my paycheck is even automatically deposited into my personal bank account. In reality, there are very few banking services I use on a regular basis that require me to go inside a bank. Even if I need cash or happen to need to deposit checks, I can do that through an Bank of north america 1862 one dollar much the same way, many small businesses are finding they don’t need to go into their bank’s physical location either. And many other business owners are finding they can do all of their business banking online with a bank that doesn’t even have a physical branch.
Benefits of a Business Bank Account
As a small business owner or startup founder, you need a business checking account. Wondering why you shouldn’t just use your personal checking account for business expenses? Here’s why having a separate business account is imperative:
- It will make accounting a lot easier and give you greater visibility into whether or not your business is profitable
- It will help you better manage your business cash flow
- It will make it easier to account for business expenses at tax time
- It will make the transition to an LLC or corporation much easier should you decide to formalize your business entity down the road
If you anticipate the need to take out a loan, there are many small business lenders like the SBA that won’t even consider your loan application unless you have a business bank of america wire transfer routing number california account, making it much harder to find small business loans to fuel growth or otherwise fund business initiatives.
In other words, a business checking account just makes sense for most small businesses.
Today, you can find a variety of business checking accounts that are fee-free, or that offer a certain number of free transactions before fees closest at home store in. Some offer perks like cash back or discounts on business products.
The tools your growing business needs
Running a business is tough, but there are plenty of services that make it easier. From bookkeeping to payroll to credit help — get the services you need to thrive.
Top 5 Options to Open a Business Checking Account Online
If you’re considering an online business checking account, these five options are all worth considering:
- Bank of America
1. BlueVine: Best for Earning 1% Interest; No-Fee Account
If you’d like to earn interest on your business checking account, BlueVine’s Business Checking account could be a good choice. What’s more, this is a free checking account, a rarity in the industry.
- No minimum deposit or balance requirements
- No monthly service fees
- No ATM fees at 38,000+ MoneyPass® locations across the country (You may be charged out-of-network ATM fees, even if you don’t complete the transaction)
- No fees for non-sufficient funds
- Two free checkbooks
- Easy mobile app
Earning 1% interest on BlueVine’s Business Checking Account is 10X the national average for similar accounts (.1% is the national average), putting them on the top of our list of interest-earning business checking accounts with no fees.
2. OZK: Best Overdraft Protection
Bank OZK offers many of the same services that other banks offer, but also includes common-sense overdraft protection they call Bounce Proof Security which will, if you maintain a positive account balance for at least 30 days on a new account, cover any overdrafts up to your limit, with a maximum overdraft of $500 (there’s a $35 fee for every overdraft regardless of whether it’s caused by a check, an in-person withdrawal, or electronic transaction).
In addition to Bounce Proof Security, you can opt for Safety Link, which automatically transfers funds from a linked checking or savings account for a $10 fee per transfer. Here are additional features.
- Remote deposit capture
- Online banking (a $5 monthly fee applies to some accounts)
- Online bill pay (fees may apply on some account types)
- Instant issue business debit card
- Mobile banking (for mobile banking, carrier rates will apply)
- Merchant processing
- Check image statements
If you’re looking for great overdraft protection, Bank OZK is our choice for online checking accounts. The bank also offers business savings and money market accounts.
3. Bank of America: Best Long-Term Banking Services
Bank of America is one of those brick-and-mortar banks that also offers a lot of online banking services. If yours is a relatively young business and you are looking for a bank that can grow with your business as it grows, you should consider Bank of America. With accounts that are designed to meet a variety of small business banking needs, you’ll likely find an account that fits.
What’s more, you can earn $100 when you open a new account and make qualifying can i open a bank account online chase equaling $1,000 in the first 60 days of your new account. You can earn an additional $50 when you pay at least two bills through bill pay within your first 60 days and an additional $300 statement credit if you are approved for and open a new Bank of America business credit card and make at least $3,000 in purchases with the card within the first 90 days of card account opening.
- Get employee business credit cards
- Online banking and mobile app
- Grant customized access to multiple users—plus seamless QuickBooks® integration with Account Management
- Deposit unlimited checks with Remote Deposit Online
- Other services available, including merchant services
4. Axos: Best Free Business Checking Account
Axos Bank has gotten rave reviews online. We agree.
Axos designed its Basic Business Checking account with small business owners in mind. Open a 100% online account and enjoy unlimited domestic ATM fee reimbursements, no monthly maintenance fees, and no minimum balance requirements. Earn a $100 bonus when you open a Basic Business Checking account—and maintain a minimum average balance of $5,000 for at least 90 days after account opening.
- No monthly maintenance fees
- No minimum account balance requirement
- Your first 50 checks are free
- Unlimited domestic ATM fee reimbursement
- $1,000 minimum opening deposit
Axos prides itself on its simple, convenient, no-fuss approach to a free small business checking account.
5. Chase: Best If You Occasionally Need to Go to a Branch
Chase Bank is another brick-and-mortar bank with branches all across the country for those times when you do need to visit the inside of a bank since there are nearly 4,900 branches and 16,000 ATMs across the country. Chase has business specialists at your local branch for those times when you need to sit down and have a person-to-person conversation with a banker. You’ll get $300 as a new Chase business checking customer when you open a Chase Total Business Checking® account with qualifying activities.
- 250 transactions per month at no charge, plus unlimited electronic deposits and incoming wires
- $20,000 monthly cash deposit without an additional fee
- All incoming wires and two outgoing domestic wires at no charge per statement cycle
- Options for signers and employees to access ATMs and make purchases
- No additional charge for Positive Pay and Reverse Positive Pay Protection services
- Interest option available — see your banker for more information
- Personal account benefits available
- Monthly service fee waived on a linked Chase Business Premier Savings account
- Access to 16,000 ATMs and nearly 4,900 branches
- 24/7 customer service
Chase allows you to have your digital cake and eat it too with a convenient online checking account and other banking services, along with the option to visit Chase Bank branches all across the country.
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What Do You Need to Open a Checking Account Online?
As a general rule, you’ll need the following documents to open a business checking account with most online or brick-and-mortar banks:
- Your Social Security Number or Employer Identification Number (EIN)
- A current driver’s license or passport as personal identification
- Your business license with the name of the business and the owner’s or owners’ names
- Certificate of assumed name (DBA) if you are a sole proprietor
- Partnership agreement with the name of the business and its partners (if there are multiple owners)
- A copy of your organization documents that are filed with the state if you run a corporation or LLC
How can i open a bank account online chase Open a Business Bank Account Online
Some banks that have physical branches may require you to apply in person locally, while others give you the option to open an account online. Obviously, banks that are 100% online give you that option as well!
Opening an account is usually fast and easy. You’ll be asked to input personal details (contact info, date of birth, address, Social Security number) and details about your business (your business structure, address, industry, how long you’ve been in business, annual revenue, number of employees).
Select the type of account you want. You may be required to fund it to open an account, as there may be a minimum daily balance requirement. Your application may be approved instantly, allowing you to access your account online right away, though you’ll have to wait around 10 business days to get your debit card and checks.
What to Consider When Choosing a Bank for Your Business Account
Don’t automatically choose to open a business checking account where the same bank you have your personal account without determining whether or not it is the best bank for your business needs.
Some banks specialize in certain types of businesses or industries. This could also apply to an online bank. If a bank has experience in your industry or similar small businesses, they may even offer additional services or custom offerings designed to benefit you and other businesses like yours.
Before you choose an online bank for your business, make sure you know:
- If there are monthly account fees and if there are requirements to have those fees waived
- If your checking account will earn interest and what the expected interest rate may be
- Whether there are transaction fees for writing checks, accepting credit cards, etc.
- If there are any introductory offers
You want to make sure the online bank offers services to meet your needs. For example, if you accept a lot of cash transactions, is there a way to make cash deposits? Are there branch locations in your area? If not and you feel you need a local branch, it may not be the bank best suited for the way you do business.
Why You Should Open a Business Checking Account Online
Although most banks have some kind of digital presence, online banking services are relatively new. In other words, just because your neighborhood bank has a website, it doesn’t mean it offers all its banking services online.
Online banks are capable of offering most of the banking services you’ll find at the bank branch around the corner, without the expense of a physical location, or locations. As a result, there are some pretty compelling benefits most small business owners might appreciate.
- Your business savings account will earn higher interest rates—sometimes as much as 1%; significantly higher than a conventional bank
- An online bank’s lower overhead means you pay less in fees than a conventional bank
- It’s easier to establish an online bank account with applications that are designed to be completed quickly and easily
- Online bank accounts can connect seamlessly to payment processing accounts and other digital banking services
- Most online banks are FDIC-insured like a brick-and-mortar bank
Nevertheless, if you make a lot of cash deposits, write a lot of checks, or want ATM access anywhere and everywhere, an online bank might not be contra costa county library login best choice for you. With that being said, if you do the lion’s share of your business digitally already, an online bank account may be just up your alley.
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Online Business Account FAQ
Now let’s address questions you may have about online business bank accounts.
Can I Open a Business Checking Account Online?
Typically, yes, there are many options for establishing a business checking account online, including the five options listed in this article. However, some physical banks may require you to open an account at a local branch.
How Much is it to Open a Business Checking Account?
Typically, the only cost associated with opening an online business checking account is the minimum opening deposit amount. Some online banks will assess transaction fees for some accounts, but there shouldn’t be a fee associated with opening the account.
Can I Use a Personal Bank Account for my Small Business?
This may work when you’re running a new business, but ultimately, you’ll want to open a separate account to make it easier to track business income and expenses.
Can I Pay Personal Expenses from my Online Business Bank Account?
There’s no law saying you can’t do this, however, it may make filing your business taxes more challenging, as you will have to parse out your business expenses from personal.
Which is the Easiest Bank to Open a Business Bank Account With?
Most online applications are pretty straightforward to open an account, but some online banks may want you to speak with an account manager before they approve your account. You should also expect that your account won’t be open immediately and will likely take several days to activate once opened.
Do You Need an EIN to Open a Business Bank Account?
An Employer Identification Number, or EIN, though not always required in every case, is a good idea. A sole proprietor or solopreneur, who doesn’t have any employees, will likely not need an EIN, but if you operate as an LLC or corporation, it will be a requirement to create your business identity.
Do You Need Money to Open an Online Business Bank Account?
Yes. Each bank will have its own minimum required deposit when you open an account.
Do I need an LLC for a business bank account?
Not necessarily. Most banks will allow you to open a business account whether you run a sole proprietorship, partnership, LLC, or corporation.
This article was originally written on October 8, 2020 and updated on August 9, 2021.
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Susan Guillory is a Senior Content Writer for Nav. She’s written books on business and travel, and blogs about small business on sites including Forbes and AllBusiness.
JP Morgan launches digital-only Chase current account in UK
The US bank Chase has launched its first current account in the UK, prompting one analyst to say it “will blow the competition out can i open a bank account online chase the water”.
Offering 1% cashback on everyday can i open a bank account online chase for the first 12 months, free card use abroad, including at ATMs, and 5% interest on limited savings, the deal may be an attractive option for Britons who have seen their current account benefits slowly whittled away.
Chase, which is JP Morgan’s consumer brand, already provides banking to 60 million households in the US.
Its UK offer is a digital-only, app-based account, making it a rival to firms such as Monzo and Starling.
Prospective account holders are being invited to register on its waiting list. The bank says it is taking a “controlled approach” to manage demand, and those who sign up should be able to become a customer within days.
The account has no fees or minimum monthly deposit but there are restrictions on the 1% cashback offering.
Users will not get cashback on big-ticket purchases such as a car, or on money spent gambling.
When customers spend money, they can round up purchases to the nearest £1 using a setting that can be switched on and off with the app. This pot then earns interest at 5%.
Unusually, the account comes with a numberless debit card, with the details stored behind a secure login on the app. This means a new card number can be generated straight away if it is reported lost.
Laura Suter, the head of personal finance at AJ Bell, said it could be a winner. “First impressions are that this new account will blow the competition out of the water, with an attractive cashback deal and a market-beating interest rate on its savings feature,” she said.
“Assuming the cashback is uncapped, the rate means that if someone spends £500 a month on their debit card they’ll get £5 back.”
Suter said there would be drawbacks for the account for some customers because it does not have any bank branches, all the help and customer support is online or on the phone, and it must be run from an app.