Chase business accounts require an Employer Identification Number (EIN) or Social Security Number, proof of identity, and information about your business structure before you can open one
Chase offers several types of business accounts — checking, savings, and money market accounts — each with different monthly fees, minimum balances, and features. The process itself takes place either online, by phone, or in a branch, and the route you choose affects how quickly you can start using the account. You will need to bring or provide specific documents, and Chase will verify your information before the account becomes active.
The entire process typically takes one to three business days if you open online or by phone, or the same day if you open in a Chase branch with all documents ready. Understanding what documents to gather and which account type fits your business will save you time and help you avoid opening an account that does not match your needs.
Key Takeaways
- You will need either an EIN (for partnerships, corporations, and LLCs) or your Social Security Number (for sole proprietorships), plus a government-issued ID and proof of your business address.
- Chase offers different business checking accounts with varying monthly fees (ranging from $0 to $25 per month depending on the account) and minimum balance requirements.
- You can open an account online, by phone, or in a branch; online and phone openings typically take one to three business days, while in-branch openings can be completed the same day.
- After opening, you will receive debit cards, checks, and online banking access, though physical cards and checks arrive by mail within five to ten business days.
Documents you need before you start
Chase requires different documents depending on your business structure. If you operate as a sole proprietorship, bring your Social Security Number and a government-issued ID (driver's license, passport, or state ID). If your business is an LLC, partnership, S-corporation, or C-corporation, you will need an EIN, which you can obtain from the IRS at no cost before opening the account.
You will also need proof of your business address. This can be a utility bill, lease agreement, or mortgage statement in your business name, or a recent business license or certificate of formation. If you are opening the account in your own name but the business operates under a different name, bring a DBA (Doing Business As) certificate or a copy of your business registration.
Finally, bring information about the other owners or authorized signers on the account, including their names, titles, and Social Security Numbers or EINs. Chase will ask for this information whether you open online or in person, so having it ready speeds up the process.
Choosing between Chase's business account options
Chase offers several business checking accounts with different structures. Chase Business Basic Checking has no monthly fee and no minimum balance requirement, making it the lowest-cost option if you do not need advanced features. Chase Business Checking charges a monthly fee (which varies by region but is typically around $15) and requires a minimum balance, but includes features like unlimited transactions and higher deposit limits.
Chase also offers Chase Business Premier Checking, which is designed for larger businesses and includes higher transaction limits, priority customer service, and additional features. The monthly fee and minimum balance requirement are higher than the other options. If you want to hold funds separately from your checking account, Chase Business Savings and Chase Business Money Market accounts are available, though these are typically opened after your checking account is already active.
Before you open, think about how many transactions you will make per month, whether you need to deposit checks remotely, and whether you want to use Chase's payroll or merchant services. These factors will help you choose the account that costs the least while giving you the features you actually use.
Opening your account online
To open a business account online, visit Chase.com and navigate to the business banking section. Select "Open a Business Checking Account" and follow the prompts. You will enter your business name, structure (sole proprietorship, LLC, corporation, or partnership), and either your EIN or Social Security Number. Chase will ask for your personal information, including your name, date of birth, address, and phone number.
Next, you will provide your business address and answer questions about the business itself — what industry you operate in, how long you have been in business, and whether you have other accounts at Chase. You will also set up online banking credentials (username and password) and choose whether to receive statements by mail or electronically. At the end, Chase will ask you to review and electronically sign the account agreement.
After you submit, Chase will verify your information, which usually takes one to three business days. You will receive an email confirming that your account is open, along with your account number. Your debit card and checks will arrive by mail within five to ten business days. In the meantime, you can log into your account online and set up transfers, bill pay, and other features.
Opening your account in a Chase branch
If you prefer to open your account in person, visit a Chase branch near you with all required documents. Bring your government-issued ID, proof of business address, and your EIN or Social Security Number. A business banker will review your documents, answer questions about your business, and help you choose the right account type.
The banker will enter your information into Chase's system while you are there and will have you sign the account agreement in person. If everything is in order, your account will be active the same day, and you can begin using it immediately through online banking. However, your physical debit card and checks will still arrive by mail within five to ten business days.
Opening in a branch is useful if you have questions about which account is right for you or if you want to set up additional services like merchant processing or a business line of credit at the same time. It also eliminates the one- to three-day waiting period for account activation.
Opening your account by phone
You can also open a business account by calling Chase at the number on their website or on your existing Chase card. A representative will walk you through the same questions you would answer online — your business structure, EIN or Social Security Number, business address, and personal information. You will need to have your documents available so you can provide information from them.
The representative will confirm your information, explain the account features and fees, and have you agree to the account terms verbally. Chase will then mail you a welcome packet with your account number, debit card, and initial checks. Your account will be active within one to three business days, and you can log into online banking as soon as you receive your account number.
What happens after your account opens
Once your account is active, you will receive login credentials for Chase Business Online and the Chase mobile app. You can use these to check your balance, transfer money, pay bills, and deposit checks remotely (if your account includes mobile check deposit). You can also set up direct deposit for customer payments or payroll.
Your debit card will arrive within five to ten business days, along with an initial set of checks. If you need checks sooner, you can order them through Chase's website or by phone, though there is a fee for expedited delivery. You can also set up additional services at any time — merchant processing to accept credit cards, a business line of credit, payroll services, or a business savings account.
Chase will send you a monthly statement showing all transactions, fees, and interest earned (if applicable). You can choose to receive statements by mail or view them online. If you have questions about your account or need to make changes, you can contact Chase's business customer service by phone or visit a branch.
Frequently Asked Questions
Do I need an EIN if I am a sole proprietor?
No. As a sole proprietor, you can use your Social Security Number instead of an EIN. However, many sole proprietors obtain an EIN anyway to keep their personal and business finances more separate. You can request an EIN from the IRS for free at irs.gov.
Can I open a business account if my business is brand new?
Yes. Chase does not require your business to have been operating for a certain length of time. You will need to provide your business structure, address, and either an EIN or Social Security Number, but Chase will open the account for a new business.
What is the minimum balance required?
It depends on which account you choose. Chase Business Basic Checking has no minimum balance. Other accounts, such as Chase Business Checking, have minimum balance requirements that vary by region and account type — typically between $1,000 and $2,500. Check with your local branch or Chase's website for the specific requirement in your area.
Can I add other people to the account?
Yes. You can designate other owners or authorized signers when you open the account, or you can add them later. You will need their names, titles, and Social Security Numbers or EINs. Authorized signers can conduct transactions on the account, while additional owners have full control.
How long does it take to receive my debit card and checks?
Physical debit cards and checks typically arrive within five to ten business days of account opening. If you need them sooner, you can order expedited checks through Chase's website for an additional fee, though expedited debit cards are not usually available.