U.S. Bank Business Essentials and Chase Business Complete Banking® are pretty evenly matched. Both offer big welcome offers. Both give you unlimited electronic transactions. And both make it easy to accept payments via their mobile apps and Zelle for Business.
But there are a few key differences between these top-rated business checking accounts.
Chase Business Complete Banking® has a larger branch network and a higher cash deposit allowance, but charges a monthly fee.
U.S. Bank Business Essentials has no monthly service fee, but sky-high wire transfer fees.
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U.S. Bank vs. Chase business checking
This guide breaks down the fees, perks and limits to help you decide which of these banks best suits your business. We’re focusing on each bank’s entry-level account for this comparison, but both offer options to upgrade as your business grows.
Account details
| U.S. Bank Business Essentials | Chase Business Complete Banking® | |
|---|---|---|
| NerdWallet star rating | | |
| Monthly fee | $0 | $15 (multiple ways to waive) |
| Welcome offer | $400. Terms apply. | $500. Terms apply. |
| Free transactions | Unlimited electronic transactions. 25 in-person transactions and/or paper checks per statement cycle. | Unlimited electronic transactions. 25 in-person transactions and/or paper checks per month. |
| Free cash deposits | Up to 25 free cash deposit units per statement cycle (1 unit equals ~$100). | Up to $5,000 of in-branch cash deposits per statement cycle. |
| Branch locations | 2,000+ | 5,000+ |
| ATM network | ~4,700 | ~14,000 |
| Customer support | Business support hours: Monday - Friday: 8 a.m. to 8 p.m. CT Saturday: 8 a.m. to 6:30 p.m. CT Live chat support: 6 a.m. to 6 p.m. PT | Business support hours: Monday - Friday: 8 a.m. to 12 a.m. ET Saturday and Sunday: 8 a.m. to 8 p.m. ET. No live chat support. |
U.S. Bank wins on monthly fee
If a free business checking account is your top priority, U.S. Bank Business Essentials is the clear choice. The account has no monthly fee. No stressing about minimum balance or hitting a transaction quota to avoid it. This makes Business Essentials a good option for highly-seasonal businesses and ventures that are just getting off the ground.
Chase Business Complete Banking® has a $15 monthly fee. It's waived if you keep a minimum daily balance of $2,000, spend $2,000 on your Chase Ink business card or deposit $2,000 in QuickAccept transactions each month. But that's a high bar for smaller businesses to meet.
Chase wins on branch access and cash deposits
No bank has a bigger footprint than Chase. It is the largest bank in the United States, by assets and by physical locations. Chase has more than 5,000 branches across 48 states. U.S. Bank has roughly 2,000 branches across 28 states.
States where U.S. Bank has branches
- Arizona
- Arkansas
- California
- Colorado
- Florida
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Minnesota
- Missouri
- Montana
- Nebraska
- Nevada
- New Mexico
- North Carolina
- North Dakota
- Ohio
- Oregon
- South Dakota
- Tennessee
- Texas
- Utah
- Washington
- Wisconsin
- Wyoming
Incidental fees
| U.S. Bank Business Essentials | Chase Business Complete Banking® | |
|---|---|---|
| Out-of-network ATM fees | $2.50 | $3 |
| ACH transfers | $1/outgoing (free bank-to-bank) | No additional charge for standard ACH. |
| Incoming wires | $14-$16 domestic; $20 international | $15 domestic and international ($0 if from Chase) |
| Outgoing wires | $30-$40 domestic; $75 international | $25-$35 domestic; $40-$50 international |
| Overdraft fees | $36 if overdrawn $5+; max 3/day | $34 if overdrawn $50+; max 6/day |
Neither bank wins on fees, wire transfers
U.S. Bank Business Essentials has no monthly service fee, but it has a lot of other fees. Most notably, U.S. Bank charges $1 per ACH transfer to vendors or third parties (bank-to-bank ACH transfers are free).
Chase Business Complete Banking® doesn't charge for standard ACH transfers, but it does charge for overdraft, wire transfers and using non-Chase ATMs.
These charges are normal for brick-and-mortar banks, sure. But plenty of online accounts charge a fraction of the fees (if they charge them at all).
Are wire transfers central to your business operations? Relay Business Checking has free incoming wires and low-cost outgoing wires. Mercury Business Account doesn't charge for wire transfers at all.
Do you need fee-free ATM access? Axos Basic Business Checking has no ATM fees and will automatically refund fees charged by other banks.
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Software tools
| U.S. Bank Business Essentials | Chase Business Complete Banking® | |
|---|---|---|
| Built-in invoicing | — | ✓ |
| Accept tap-to-pay in mobile app | ✓ | ✓ |
| Zelle for Business | ✓ | ✓ |
| Sub-accounts | ✓ | — |
| Tax-planning tools | — | — |
| Contractor management | — | — |
Payments and tools: It's a toss-up
Both banks offer more than just basic business banking. That sets them apart from other traditional banks.
You get Zelle for Business with Chase Business Complete Banking® and U.S. Bank Business Essentials. Both accounts have built-in credit card processing, too, so you can take card payments via their mobile app. Processing fees apply.
Chase Business Complete Banking® also gives you built-in invoicing. While Business Essentials offers subaccounts to help budget and organize your cash flow.
