What You Need Before You Start

Chase requires specific documents and information before you can open a business account. You will need your Employer Identification Number (EIN) or Social Security Number if you are a sole proprietor, your business license or formation documents (articles of incorporation, articles of organization, or a DBA certificate), and a government-issued ID for the person opening the account. Have your business address, phone number, and the names and Social Security Numbers of all owners with 20% or more stake in the business ready as well.

If your business is brand new, Chase may ask for a business plan or tax return from a previous year if you have one. Partnerships and corporations need to bring documentation showing who owns what percentage of the business. If you are opening the account on behalf of someone else, bring a power of attorney or corporate resolution authorizing you to do so.

Key Takeaways

  • You can open a Chase business account in person at a branch, by phone, or online depending on your business structure and the account type you want.
  • Bring your EIN or SSN, business license or formation documents, and a government-issued ID; Chase will verify your identity and business information before approving the account.
  • The account opening process typically takes 24 to 48 hours after you submit all required documents, though some accounts activate immediately for online applications.
  • Chase offers different business account types—checking, savings, money market—with varying monthly fees, minimum balances, and transaction limits depending on your business size.
  • Once approved, you can order checks, set up online banking, and link to Chase's payment and payroll tools, but debit cards and merchant services may take an additional week to arrive.

Opening an Account in Person at a Chase Branch

Walk into any Chase branch with your documents and ask to speak with a business banker. Bring originals of your EIN letter from the IRS, business license, articles of incorporation or organization, and your government-issued ID. The banker will verify your identity, confirm your business information, and ask about your expected monthly deposits and transaction volume so they can recommend the right account type.

The banker will enter your information into Chase's system and run a background check. This check includes a review of your personal credit and banking history, as well as a search of the ChexSystems database, which tracks banking behavior across financial institutions. If everything clears, you will sign the account agreement and deposit forms. Some accounts are funded and active the same day; others take 24 to 48 hours to process.

Ask the banker about ordering checks and setting up online banking access before you leave. Chase can print checks in-branch for some account types, but most orders ship to your business address within 7 to 10 business days. Online banking access is usually available within a few hours of account opening.

Opening an Account Online or by Phone

Chase allows sole proprietors and some small business structures to open accounts online through their website. Go to chase.com, select "Business Banking," and choose "Open an Account." You will enter your business name, EIN or SSN, business address, and the names of all owners. Chase will ask for a photo of your government-issued ID and may request a photo of your business license or formation documents.

The online process typically takes 10 to 15 minutes to complete. Chase will send you a confirmation email and begin processing your application. Account approval usually happens within 24 hours, and you will receive login credentials for online banking via email. You can begin making transfers and payments immediately, though checks and debit cards will arrive by mail within 7 to 10 business days.

If you prefer to open an account by phone, call Chase Business Banking at 1-800-955-9060. A representative will walk you through the same questions and document verification process. You will need to provide verbal confirmation of your identity and business details, and Chase may mail you forms to sign and return. This method takes slightly longer—typically 3 to 5 business days—because of the mailed signature requirement.

What Happens After You Submit Your Application

Chase runs a verification process that includes checking your identity against government databases, confirming your business exists and is in good standing, and reviewing your banking history. If you are a sole proprietor, Chase will also check your personal credit report. This does not affect your credit score, but it does show up as a hard inquiry. If you have recent negative banking history—such as unpaid overdrafts or fraud alerts—Chase may deny the account or require additional documentation.

If Chase needs more information, they will contact you by phone or email within 24 hours. Common requests include proof of business address (a utility bill or lease), clarification on the source of funds for the initial deposit, or additional documentation for owners with significant ownership stakes. Respond to these requests within 5 business days; if you do not, Chase will close the application.

Once approved, your account number and routing number will be provided via email or in-person. You can use these immediately to set up direct deposits, automatic bill payments, or wire transfers. Physical checks and debit cards arrive separately by mail and may take an additional 7 to 10 business days.

Account Types and Minimum Requirements

Chase offers several business checking accounts with different fee structures and minimum balance requirements. The Chase Business Basic Checking account has no monthly fee if you maintain a $2,500 minimum daily balance or have $5,000 or more in combined Chase business deposits. If you fall below the minimum, the monthly fee is $15. This account includes unlimited check writing, online banking, and bill pay at no additional cost.

The Chase Business Platinum Checking account has a $25 monthly fee waived if you maintain a $10,000 minimum daily balance or have $25,000 or more in combined Chase business deposits. It includes the same features as Basic Checking plus a higher transaction limit and priority customer service. Chase also offers Business Savings and Money Market accounts, which earn interest but have withdrawal limits and higher minimum balances—typically $2,500 to $10,000 depending on the account type.

If you are unsure which account fits your business, ask the banker or representative which one makes sense based on your expected monthly deposits and transaction volume. You can switch account types later without closing the account, though Chase may charge a fee if you switch within the first 90 days.

Setting Up Online Banking and Payment Tools

Once your account is open, you will receive login credentials for Chase Business Online. Log in with your username and password to view your account balance, download statements, and set up bill pay. Chase Business Online also lets you create user accounts for employees with limited permissions—for example, an employee can view the account balance but cannot initiate transfers without approval from an authorized signer.

Chase offers several payment tools beyond basic bill pay. Chase QuickAccept lets you accept credit card and debit card payments from customers in person or online. Chase Payroll handles tax withholding, direct deposit, and payroll tax filing. Chase Merchant Services processes credit card transactions at your point of sale. These tools integrate with your business checking account, so payments and deposits flow directly into your account.

Set up two-factor authentication on your online banking account to protect against fraud. Chase will send you a code via text or email each time you log in from a new device. This adds a few seconds to the login process but significantly reduces the risk of unauthorized access.

What to Do If Your Application Is Denied

Chase may deny your application if you have a history of fraud, unpaid overdrafts, or negative banking records at other institutions. If your application is denied, Chase will send you a letter explaining the reason. Common reasons include a low credit score, a ChexSystems report showing past banking problems, or an inability to verify your business information.

You have the right to request a copy of your ChexSystems report and dispute any inaccurate information. Visit chexsystems.com or call 1-866-697-2639 to request your report. If you find errors, file a dispute with ChexSystems; they have 30 days to investigate and correct the report. Once corrected, you can reapply with Chase.

If your denial was due to credit or banking history, consider applying for a second chance business account at a smaller bank or credit union while you work on rebuilding your credit. Once you have 6 to 12 months of clean banking history, you can reapply with Chase. Some applicants are approved on a second attempt without any changes other than time passing.

Frequently Asked Questions

How long does it take to get a debit card after opening a business account?

Debit cards typically arrive 7 to 10 business days after your account is approved. If you need a card sooner, visit a Chase branch and ask if they can issue a temporary card or expedite the order. Some branches can print a card on-site, though this is not available at all locations.

Can I open a business account if I do not have an EIN yet?

Yes. If your business is brand new and you have not yet received your EIN from the IRS, you can use your Social Security Number to open the account. Once you receive your EIN, contact Chase and ask them to update your account. The process takes a few minutes and does not require closing and reopening the account.

What if I need to add another owner to the account after it is open?

Contact Chase and request an account ownership change form. You will need to provide the new owner's Social Security Number, government-issued ID, and documentation showing their ownership stake in the business. Chase will run a background check on the new owner and update your account within 3 to 5 business days.

Do I need a separate account for payroll?

No. You can run payroll through your regular business checking account using Chase Payroll. However, some businesses prefer to keep a separate payroll account to simplify accounting and tax filing. If you want a second account, you can open one during the initial application or add it later without additional documentation.

What happens if my account falls below the minimum balance?

Chase will charge the monthly maintenance fee if your daily balance drops below the required minimum. The fee is deducted automatically from your account. If your balance stays below the minimum for several months, Chase may close the account and send you a check for the remaining balance. To avoid this, maintain the minimum or switch to an account type with no minimum balance requirement.