Chase Business Checking Does Charge a Monthly Maintenance Fee

Chase's standard business checking account, called Chase Business Basic Checking, charges a $15 monthly maintenance fee. This fee applies unless you meet one of the waiver conditions. The fee hits your account on the same day each month, usually the first business day.

Chase also offers Chase Business Platinum Checking, which costs $25 per month. This account includes more features—like higher transaction limits and additional services—but the base fee is higher. Both accounts waive the monthly fee if you maintain a minimum balance or meet deposit requirements, though the thresholds differ between the two.

If you want to avoid the fee entirely, you need to know which waiver applies to your account type and whether you can meet it. Many small business owners pay the fee without realizing they could have waived it, or they could have switched to a different account structure that costs nothing.

Key Takeaways

  • Chase Business Basic Checking charges $15 per month; Chase Business Platinum Checking charges $25 per month, unless you meet a waiver condition.
  • You can waive the Basic Checking fee by maintaining a $2,500 minimum daily balance or by setting up a may have access to direct deposit of at least $500 per month.
  • The Platinum account waives its $25 fee if you maintain a $10,000 minimum daily balance or deposit at least $10,000 per month.
  • Chase charges additional fees beyond the monthly maintenance—overdraft fees, wire transfer fees, and stop-payment fees all apply separately.
  • If you rarely use the account or cannot meet balance minimums, a fee-free business checking account from another bank may cost you less over a year.

How the Monthly Fee Waiver Works

The waiver is automatic—you do not have to request it. If your account meets the condition on the day the fee would normally post, Chase does not charge you that month. The balance or deposit requirement resets each month, so you have to meet it again the following month to avoid another fee.

For Chase Business Basic Checking, the waiver triggers if you maintain a $2,500 minimum daily balance in the checking account itself. This means the lowest your balance can drop on any single day during the month is $2,500. If you dip below that even once, you do not may have access to for the waiver that month and the $15 fee posts.

Alternatively, you can waive the fee with a direct deposit of at least $500 per month into the account. This direct deposit must come from an employer or government agency—transfers from your own other accounts do not count. Many business owners use payroll direct deposit to trigger this waiver.

For Chase Business Platinum Checking, the minimum daily balance requirement is $10,000, or you need at least $10,000 in total deposits per month. The higher threshold reflects the account's additional features and services.

Other Fees That Add Up Quickly

The monthly maintenance fee is only the beginning. Chase charges separate fees for specific transactions and services, and these can exceed the monthly fee if you use the account actively.

Overdraft fees are $35 per occurrence if your account goes negative. Chase will cover the overdraft (up to a limit), but you pay the fee. Wire transfer fees are $15 for outgoing domestic wires and $45 for outgoing international wires. Stop-payment requests cost $30 each. Returned-item fees (when a check or ACH payment bounces) are $35 per item.

If you use your business checking for payroll, you may also encounter ACH fees depending on your setup. Some ACH transactions are free, but batch processing or third-party ACH services can carry charges. Ask your payroll provider whether they pass ACH fees to you or absorb them.

Chase also charges for cashier's checks ($10 each), certified checks ($10 each), and account research or document retrieval ($25 per request). If you need copies of old statements or transaction records, these fees add up.

When the Monthly Fee Makes Sense

If you can easily maintain a $2,500 balance in your business checking account, the $15 monthly fee is waived and the account costs you nothing. For many small businesses—especially those with steady cash flow or a cash reserve—this is the realistic scenario. You keep the money there anyway, so the balance requirement is not an extra burden.

The Platinum account ($25 per month) makes sense if you need features like higher transaction limits, more detailed reporting, or integration with Chase's business credit products. If you are already using Chase for a business line of credit or merchant services, the Platinum account may offer better integration and reporting tools that justify the higher fee.

If you cannot maintain the minimum balance and do not receive may have access to direct deposits, you will pay the monthly fee every month. Over a year, that is $180 for Basic Checking or $300 for Platinum. At that point, you should compare the total cost—including other fees you actually use—against competitors like Novo, Mercury, or your local bank.

How to Check Your Account Type and Fee Status

Log into Chase Business Online or the Chase mobile app and open your checking account details. The account name appears at the top—it will say "Business Basic Checking" or "Business Platinum Checking" or another product name. Your account statement also lists the product name and shows whether the monthly fee was charged or waived that month.

If you see a $15 or $25 charge on your statement, the waiver did not apply that month. Check your average daily balance for that period—if it fell below the threshold, that is why. If your balance was above the minimum, contact Chase to ask why the fee was not waived. Sometimes a system error or a timing issue with direct deposits can cause the waiver to fail.

You can also call Chase Business Banking at the number on the back of your card and ask a representative to review your account. They can tell you which waiver condition applies to your account and whether you are currently meeting it. If you are not, they can discuss switching to a different account type or adjusting your balance strategy.

Switching Accounts or Banks if the Fee Does Not Make Sense

If you cannot meet the $2,500 minimum balance and do not have a may have access to direct deposit, you have options. You can request to downgrade to a different Chase business account if one exists that fits your needs, though Chase's business checking lineup is fairly limited. You can also close the account and move to a bank or fintech that does not charge a monthly maintenance fee.

Some alternatives charge no monthly fee at all: Novo, Mercury, and Brex offer business checking with no monthly maintenance. Others, like Square Cash for Business or Stripe, integrate payment processing into the account. Your choice depends on whether you need traditional banking features (checks, ACH, wire transfers) or whether you primarily move money through digital channels.

Before you switch, calculate your actual annual cost at Chase—the monthly fee plus any other fees you actually incur (overdrafts, wires, stop-payments). Compare that total to the annual cost at another bank. If the difference is more than $100 or $200 per year, the switch may be worth the effort of updating your direct deposits and vendor payments.

Frequently Asked Questions

Can I waive the Chase business checking fee with a savings account balance?

No. The $2,500 minimum balance requirement applies only to the checking account itself. Money in a linked savings account, money market account, or credit line does not count toward the waiver. Chase looks only at the daily balance in the checking account on the day the fee would post.

What if my direct deposit is less than $500 per month—can I still waive the fee?

No. The direct deposit waiver requires at least $500 per month. If your deposits are smaller, you must meet the $2,500 minimum daily balance instead. You cannot combine a smaller direct deposit with a lower balance to waive the fee.

Does Chase charge a fee to close a business checking account?

Chase does not charge a closing fee, but if you close the account within 90 days of opening it, Chase may charge a $25 early closure fee. After 90 days, you can close the account at any time without penalty. Call the number on your card or visit a branch to close.

If I have multiple Chase business checking accounts, do I pay the fee on each one?

Yes. Each account is charged separately based on its own balance or deposit activity. If you have two Chase Business Basic Checking accounts and neither meets the waiver condition, you pay $15 on each account. Some business owners consolidate to a single account to simplify fee management.

Can Chase waive the monthly fee as a courtesy if I ask?

Chase may waive the fee for a single month if you have a good history with the bank and ask politely, but this is not may provide and is not a permanent solution. The waiver conditions (balance or direct deposit) are the intended way to avoid the fee. If you cannot meet them, switching banks is usually more reliable than asking for repeated courtesy waivers.