What You Need to Start a Chase Business Account
Chase requires you to bring two things in person to a branch: a government-issued photo ID and an Employer Identification Number (EIN) or Social Security Number (SSN). If your business is a sole proprietorship, you can use your SSN. If it's an LLC, partnership, or corporation, you'll need an EIN from the IRS—you can get one free at irs.gov or by calling 1-800-829-4933.
You'll also need to bring a document that shows your business name and structure. This could be your Articles of Incorporation, Articles of Organization, a DBA (Doing Business As) certificate filed with your state, or even a business license. Chase uses this to confirm you're authorized to open an account under that name.
Some account types require a minimum opening deposit. Chase's basic business checking accounts typically require $500 to $1,000 to open, though this varies by account type and location. You can deposit this by check, transfer, or cash at the branch when you open the account.
Key Takeaways
- You must open a Chase business account in person at a branch with a photo ID, your EIN or SSN, and proof of your business structure.
- Chase requires an opening deposit that typically ranges from $500 to $1,000 depending on the account type you choose.
- The entire process usually takes 15 to 30 minutes at the branch, and your account is active the same day.
- You'll receive a debit card and checks within 7 to 10 business days, but can start using the account immediately online.
Step-by-Step Process at the Chase Branch
Start by finding a Chase branch near you using their branch locator at chase.com. Call ahead or check online to confirm the branch is open and to ask if you need an appointment—some branches accept walk-ins, but others require you to schedule a time slot.
When you arrive, tell the banker you want to open a business checking account. They'll ask you questions about your business: what you do, how long you've been operating, how much you expect to deposit monthly, and whether you'll need merchant services (the ability to accept credit card payments). Answer honestly—this information helps Chase assign you the right account type and set your initial limits.
The banker will review your documents, verify your identity, and confirm your EIN or SSN. They'll then show you the account options available and explain the monthly fee structure. Once you choose an account, you'll sign the signature card and deposit your opening funds. The account opens immediately, and you can use it online right away.
Documents to Bring to the Branch
| Document Type | What It Proves | Where to Get It |
|---|---|---|
| Government-issued photo ID | Your identity | Driver's license, passport, or state ID |
| EIN or SSN | Your tax identification | EIN: irs.gov or 1-800-829-4933. SSN: your Social Security card |
| Business structure document | Your business name and legal structure | Articles of Incorporation, Articles of Organization, DBA certificate, or business license from your state |
| Opening deposit funds | Your initial account balance | Check, cash, or transfer (minimum typically $500–$1,000) |
Chase Business Checking Account Types
Chase offers several business checking accounts, each with different monthly fees and features. The Chase Business Basic Checking account has a monthly maintenance fee (typically $15) and no minimum balance requirement after opening. It includes unlimited check writing, online banking, and a debit card.
The Chase Business Platinum Checking account costs more per month but waives the fee if you maintain a higher average daily balance or set up direct deposits. It includes additional features like higher transaction limits and priority customer service.
The Chase Business Preferred Checking account is designed for businesses with higher transaction volumes. It has a higher monthly fee but includes perks like discounted wire transfer fees and merchant services discounts.
Ask the banker which account fits your business size and transaction patterns. You can always switch to a different account type later if your needs change.
What Happens After You Open the Account
Your account is active immediately after you open it. You can log into Chase's online banking portal the same day using the temporary credentials the banker gives you. You can transfer money, set up bill pay, and view your balance right away.
Your debit card and checkbook will arrive by mail within 7 to 10 business days. The banker will give you temporary check stock to use in the meantime if you need to write checks before your permanent ones arrive.
If you need merchant services (the ability to accept credit card payments from customers), you can set that up during your visit or later through your online account. Chase will review your business and may require additional documentation before approving merchant services.
Why Chase Requires You to Come In Person
Chase cannot open a business account entirely online because federal banking regulations require the bank to verify your identity in person for business accounts. This is different from personal accounts, which Chase allows you to open online. The in-person visit protects both you and the bank by confirming that the person opening the account is actually authorized to do so.
This requirement also gives Chase a chance to understand your business and flag any unusual activity patterns early. If your business involves high-risk activities (like money services or certain financial transactions), Chase may ask additional questions or request more documentation.
Frequently Asked Questions
Can I open a Chase business account online?
No. Chase requires you to open a business account in person at a branch with your photo ID, tax identification number, and proof of business structure. Personal accounts can be opened online, but business accounts cannot.
What if I don't have an EIN yet?
You can get an EIN free from the IRS at irs.gov (instant online) or by calling 1-800-829-4933. If your business is a sole proprietorship, you can use your Social Security Number instead. The banker can help you decide which applies to your situation.
Do I need a business license to open the account?
Not always. Chase needs proof of your business structure (like Articles of Organization or a DBA certificate), but a business license is not required in all states. Ask your state's Secretary of State office what documents you need for your business type. The banker can also tell you what they'll accept.
How long does it take to open the account?
The process at the branch usually takes 15 to 30 minutes. Your account is active the same day, but your debit card and checks arrive by mail within 7 to 10 business days.
What if I'm opening the account for someone else's business?
You'll need to bring a document that authorizes you to act on behalf of the business owner—like a power of attorney or corporate resolution. The banker will review this document to confirm you have the authority to open the account.