Chase requires a minimum balance on most business checking accounts, but the amount depends on which account you open
Chase Business Basic Checking has no minimum balance requirement. Chase Business Platinum Checking requires $2,500. Chase Business Premier Checking requires $10,000. If your balance falls below the required minimum, Chase charges a monthly fee—typically $15 to $25 depending on the account tier—until you bring the balance back up.
The minimum balance is measured on a daily basis, meaning you need to maintain that amount every single day of the month. A single day below the threshold can trigger the fee. Some business accounts waive the fee if you meet alternative conditions, such as maintaining a linked savings account or setting up direct deposits, but this varies by account type and changes periodically.
Key Takeaways
- Chase Business Basic Checking has no minimum balance requirement, while Platinum requires $2,500 and Premier requires $10,000.
- If your balance drops below the minimum on any day of the month, Chase charges a monthly maintenance fee of $15 to $25.
- Some accounts allow you to waive the fee by maintaining a linked savings account or setting up may have access to direct deposits instead of meeting the cash minimum.
- The minimum balance is checked daily, not averaged across the month, so even one day below the threshold can cost you.
How Chase measures your minimum balance
Chase measures your minimum balance on a daily basis. This means the bank looks at your account balance at the end of each business day and checks whether it meets the requirement. If your balance falls below the minimum on even one day during the month, you will be charged the monthly fee at the end of that statement cycle.
This daily measurement matters most when you are running payroll, paying vendors, or making large transfers. A payroll run that temporarily drops your balance below the minimum—even if you know money is coming in the next day—will trigger the fee. You cannot average your balance across the month or explain that you will be above the minimum next week.
Which Chase business accounts have no minimum balance
Chase Business Basic Checking is the only standard Chase business checking account with no minimum balance requirement and no monthly maintenance fee. This account includes online banking, mobile banking, bill pay, and a debit card. It does not include a physical checkbook by default, though you can order one.
If you want to avoid minimum balance requirements entirely, Business Basic Checking is your only option among Chase's main business checking products. The trade-off is fewer features than the higher-tier accounts—for example, no merchant services discounts or priority customer service. For most small businesses that do not need those add-ons, Basic Checking eliminates the risk of monthly fees altogether.
Accounts with minimum balance requirements and their fees
| Account Type | Minimum Balance | Monthly Fee if Below Minimum |
|---|---|---|
| Business Basic Checking | None | None |
| Business Platinum Checking | $2,500 | $15 |
| Business Premier Checking | $10,000 | $25 |
Chase Business Platinum Checking requires a $2,500 minimum balance and charges $15 per month if you fall below it. This account includes unlimited transactions, merchant services discounts, and priority phone support. Chase Business Premier Checking requires $10,000 and charges $25 per month if you fall below it. Premier adds features like a dedicated business banker and higher wire transfer limits.
The difference between Platinum and Premier is not just the minimum balance—it is also the monthly fee and the level of service. If you are paying $25 per month on Premier but your business does not use the dedicated banker or high wire limits, you are paying for features you do not need. Switching to Platinum or Basic could save you money.
Ways to waive the minimum balance requirement
Some Chase business accounts allow you to waive the monthly fee without maintaining the cash minimum. The most common waiver is linking a Chase Business Savings account with a minimum balance of $5,000 to $10,000 (depending on your checking account tier). Another option is setting up direct deposits totaling a certain amount each month—typically $500 to $1,000, though this varies by account.
Not all accounts offer both waivers, and the requirements change. Before opening an account, ask your Chase business banker which waivers apply to the specific account you are considering. Some waivers require you to maintain them for the entire statement cycle, so if you drop below the linked savings minimum or miss a month of direct deposits, the fee applies. This means you are trading one minimum balance requirement for another, which may or may not help your situation.
What happens if you do not maintain the minimum
If your balance falls below the minimum on any day during your statement cycle, Chase charges the monthly maintenance fee at the end of that cycle. The fee appears as a debit to your account. If you are consistently below the minimum, these fees add up quickly—$15 to $25 per month is $180 to $300 per year.
Repeated low balances do not result in account closure, but Chase may contact you about your account activity. If you know you cannot maintain the required minimum, switching to Business Basic Checking (which has no minimum) is usually cheaper than paying monthly fees on a higher-tier account you are not using fully. Calculate what you are paying in fees over a year and compare it to the cost of switching accounts.
Comparing Chase business accounts to other banks
Chase is not the only bank with minimum balance requirements on business checking. Bank of America Business Checking requires $1,500. Wells Fargo Business Checking requires $1,000. Some online banks like Mercury and Brex offer business checking with no minimum balance and no monthly fees, though they may have other requirements like a certain transaction volume or linked savings account.
If maintaining a minimum balance is difficult for your business, comparing accounts across banks can save you money. A no-fee account at another bank might be worth switching to, especially if you are paying $15 to $25 per month in fees on a Chase account you are not fully using. The cost of switching is usually low—most banks handle the transfer of direct deposits and automatic payments for you.
Frequently Asked Questions
Can I keep my balance below the minimum without paying a fee?
No, not on Platinum or Premier accounts. If your balance drops below the required minimum on any day of the month, you will be charged the monthly fee. The only way to avoid the fee is to maintain the minimum balance, meet an alternative waiver condition (like a linked savings account), or switch to Business Basic Checking, which has no minimum.
Does Chase average my balance across the month?
No. Chase checks your balance daily and charges the fee if you fall below the minimum on even one day. Your balance is not averaged across the month, so a temporary dip below the minimum will trigger the fee.
What if I link a savings account to waive the fee?
If your account offers this waiver, you must maintain the required minimum in the linked savings account for the entire statement cycle. If the savings account balance drops below the minimum at any point, the waiver is lost and the checking account fee applies. You will need to bring both accounts back to the required minimums the following month to waive the fee again.
Is the minimum balance requirement the same for all Chase business accounts?
No. Chase Business Basic has no minimum. Platinum requires $2,500. Premier requires $10,000. Specialty accounts like Chase Business Investor or Chase Business Unlimited may have different requirements. Check with Chase directly about the specific account you are considering.
Can I switch from Platinum to Basic to avoid the minimum balance fee?
Yes. You can close your Platinum account and open a Business Basic account at any time. There is no penalty for switching. However, closing an account may affect your banking history with Chase, so contact your business banker before making the switch to understand any implications for future credit or account decisions.