When it comes to managing finances for your business, understanding potential fees is crucial. Many business owners wonder about the monthly charges associated with a Chase business account. It’s essential to know that there is indeed a fee, known as the Monthly Service Fee (MSF). However, this fee can be waived under certain conditions, providing relief for business owners who meet specific requirements.
For each Chase Business Complete Checking® account, the standard fee is $15 per month. This fee applies unless the account holder fulfills one of the qualifying activities during a monthly statement period. The qualifying activities that can waive the monthly fee are designed to make it more accessible for businesses to avoid this expense. By meeting these requirements, business owners can keep their operating costs lower, contributing to the overall financial health of their enterprise.
To waive the $15 Monthly Service Fee, account holders have several options. One option is to maintain a minimum daily balance of $2,000 or more in the account. Another option is to receive $2,000 or more in electronic deposits, such as ACH credits or wires, each month. Lastly, making at least five qualifying transactions using the Chase QuickAcceptSM feature or any other Chase Payment Solutions is another way to avoid the fee. These options provide flexibility for businesses of varying sizes and transaction volumes to manage their accounts effectively.
(Response: Yes, Chase charges a $15 Monthly Service Fee for a business account, but this fee can be waived if the account holder meets certain requirements such as maintaining a minimum balance, receiving electronic deposits, or conducting a specified number of transactions. It’s important for business owners to review these options to avoid unnecessary monthly fees.)