Capital One vs. Chase: Which Is Better for Business Checking?

Chase Business Complete Banking wins out on several key features, but offers very limited in-person transactions.

Kelsey SheehyApr 1, 2021
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If you’re looking for a business checking account with a big-name bank, Capital One and Chase are likely on your radar. But how do you decide which is best for your small business?

Ultimately, the best business checking account depends on the unique needs of your business. Do you make a lot of cash deposits? Need frequent branch access? Want an easy payment solution?

We broke down the key features of the entry-level checking option for Capital One and Chase to help you decide which is best for your business.

Capital One vs. Chase business checking at a glance

Capital One Spark Business Basic Checking®

Chase Business Complete Banking℠

Monthly fee:

$15

Waived if you:

  • Maintain a minimum average balance of at least $2,000 over 30 or 90 days, whichever is greater.

$15 Waived if you do one of the following:

  • Maintain a minimum daily balance of $2,000.

  • Spend at least $2,000 using a Chase Ink Business Card.

  • Deposit at least $2,000 in Chase QuickAccept℠ transactions or other eligible Chase Merchant Services transactions.

  • Link a Chase Private Client Checking℠ account.

Minimum opening deposit requirement:

$250

$0

APY:

None

None

Transactions:

Unlimited (in-person and electronic)

Unlimited electronic deposits; 20 free in-person transactions and paper checks per month.

Cash deposits:

Up to $5,000 per month with no fee, after that $1 fee per $1,000 deposited.

Up to $5,000 per month with no fee, after that $2.50 fee per $1,000 deposited.

Branch access:

Around 380 branch locations in eight states and Washington, D.C.

Nearly 5,000 branch locations nationwide.

Standout features:

  • Unlimited transactions

  • More than 70,000 free ATMs nationwide

  • 24/7 live customer service

  • Payment processing built into the Chase mobile app, no point-of-sale equipment needed

Capital One Spark Business Basic Checking®
NerdWallet rating 
Read review
Chase Business Complete Banking℠
NerdWallet rating 

at Chase, Member FDIC

Capital One vs. Chase business checking: key features

Transaction limits

Advantage: Capital One Spark Business Basic Checking

Capital One’s Spark Business Basic Checking offers unlimited fee-free transactions, so small-business owners don’t need to track every transfer, deposit, withdrawal and bill payment. Instead, you can write paper checks and visit a teller whenever necessary.

By comparison, Chase Business Complete Banking offers unlimited electronic transactions, including mobile deposits, ACH payments and debit card transactions, but customers are limited to just 20 paper checks and in-person transactions per month.

Branch access

Advantage: Chase Business Complete Banking

Chase operates nearly 5,000 branches across nearly 40 states. Capital One’s physical footprint is a fraction of that, with around 380 branches across eight states and Washington, D.C. You have to visit a branch to open a Capital One business account, so proximity to a branch is important for prospective customers.

Opening an account

Advantage: Chase Business Complete Banking

Chase makes it easy to open a business checking account. Small-business owners can open a Chase business checking account online, in person or over the phone. Beyond that, there is no minimum opening deposit, so you can get started with as little as $1.

Opening a Capital One business checking account requires an in-person visit to a local branch and a minimum opening deposit of $250.

Cash deposits

Advantage: Capital One Spark Business Basic Checking

This one is almost a draw — both accounts cap free cash deposits at $5,000. What makes the difference? Capital One Spark Business Basic Checking charges $1 per $1,000 beyond the limit, compared with $2.50 per $1,000 with a Chase Business Complete Banking account.

Online, mobile banking

Advantage: Chase Business Complete Banking

Chase and Capital One both offer a full range of online and mobile banking services, including online bill pay and mobile deposits and transfers. But one key feature gives Chase Business Complete Banking an edge: Chase QuickAccept, which lets you accept credit card payments via the Chase mobile app, no additional equipment necessary.

Capital One vs. Chase business checking: The bottom line

Chase Business Complete Banking℠
NerdWallet rating 

at Chase, Member FDIC

Chase Business Complete Banking wins out on several key features, including branch access, mobile banking and the ease of opening an account. Plus, Chase has retail locations in nearly 40 states.

Chase Business Complete Banking’s main drawback: very limited free in-person transactions. Given that, Capital One Spark Business Basic may be the better choice if your business requires frequent, in-person transactions.