Chase and Capital One offer comprehensive banking services at a modest price. Chase is best for users who prioritize convenient branch access given its strong physical presence in 48 states, whereas Capital One is best for cost-conscious customers looking to save slightly on banking fees.
- Chase: Best overall with full-service banking and wide geographic availability
- Capital One: Best for lower excess cash deposit fees and free automated clearing house (ACH) transactions
Chase allows account opening of its basic tier, Business Complete Banking, online. Meanwhile, Capital One has branches in only eight states and the District of Columbia, and it requires you to visit a branchⓘ to complete an application to open a business checking account.
Chase vs Capital One Business Checking Quick Comparison
Debit Card | Free debit card, mailed within 10 business days of application approval | Free debit card, mailed within 5–7 business days of application approval |
Accounting Software Integrations | QuickBooks and FreshBooks | QuickBooks and Xero |
Invoicing Products | Available with Chase Payment Solutions | Available with Capital One Digital Solutions |
Other Products Available | Business savings, certificates of deposit (CDs), lending products, credit cards, merchant services, collection services | Business savings, CDs, lending products, credit cards, and escrow express |
Our Reviews | ||
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When To Use
Comparison of Chase vs Capital One Business Checking Features
Chase | Capital One | |
|---|---|---|
4.09 ★ | 3.09 ★ | |
★★★★★ | ★★ | |
Online Account Opening | ★★★★★ | 0 |
Monthly Fees | ★★★ | ★★ |
Monthly Transaction Limits | ★★★★ | ★★★★ |
Monthly Cash Deposit Limits | ★★★★ | ★★★★ |
ATM Network and Fees | ★★★★ | ★★★★★ |
ACH Fees | ★★★★ | ★★★★★ |
Welcome Bonus | ★★★★ | 0 |
Merchant Services | ★★★★ | ★★★ |
Higher-tier Accounts | ★★★ | ★★★★ |
Other Products | ★★★★★ | ★★★★★ |
Rating Explanation: ★★★★★ 5: This feature enhances your banking experience at no cost. ★★★★ 4: This feature has a few minor drawbacks/limits or comes at a slight cost. ★★★ 3: This feature has a few drawbacks/limits or comes at a slightly high cost. ★★ 2: This feature has a few major drawbacks/limits or comes at a high cost. ★ 1: This feature has major drawbacks/limits. 0: This feature is unavailable. | ||
When we compared Chase vs Capital One business checking accounts, we saw that overall, Chase’s features provide more value for money. While Capital One charges lower fees for excess cash deposits, out-of-network ATM usage, and ACH payments, its overall score took a hit because of its poor geographic availability and lack of online account opening options.
Click on the headers below for a closer look at each feature.
Chase: 5 out of 5
In terms of geographic availability, Chase edges Capital One out. The bank has 4,700 branches in all U.S. states except Alaska and Hawaii.
Capital One: 2 out of 5
The bank has only 755 branches, which are spread across Washington D.C., Louisiana, Maryland, New Jersey, New York, Texas, and Virginia.
Chase: 5 out of 5
You can open a Chase business checking account online.
Capital One: 0 out of 5
The Capital One account opening process requires a branch visit.
Chase: 3 out of 5
Chase’s Business Complete Banking charges a monthly fee of $15, though one advantage Chase holds over Capital One is that it provides more options for waiving the monthly fee. You only need to meet one or more of the following criteria within a statement period:
- Maintain a $2,000 minimum daily balance
- Have $2,000 in eligible purchases on Chase Ink Business Cards
- Have $2,000 in deposits from Chase QuickAccept or other eligible Chase Payment Solutions transactions
- Link a Chase Private Client Checking account
- Provide qualifying proof of military status
Capital One: 2 out of 5
Capital One’s Basic Checking also charges a monthly fee of $15. However, while Chase provides multiple options for waiving the fee, you can only waive the Capital One monthly fee by maintaining an average balance of $2,000 or greater within a 30- or 90-day period.
Chase: 4 out of 5
Chase offers unlimited fee-free digital transactions. These include:
- Check deposits through Chase QuickDeposit
- Debit card transactions
- In-network ATM deposits and withdrawals
- Payments and transfers made through the Chase website or mobile app
Additionally, it provides 20 fee-free paper or teller transactions per month. Every transaction after the limit costs 40 cents.
Capital One: 4 out of 5
Capital One also provides unlimited fee-free digital transactions, including:
- Remote check deposits
- Debit card transactions
- In-network ATM deposits and withdrawals
- Online bill payments
- ACH payments
Chase: 4 out of 5
Chase Business Complete Banking has a monthly cash deposit allowance of $5,000. Deposits after the limit cost $2.50 per $1,000. You can also deposit cash for free at Chase ATMs.
Capital One: 4 out of 5
Capital One Basic Checking also offers a cash deposit allowance of $5,000. However, it edges Chase out by a very slight margin because it only charges $1 per $1,000 deposited after the limit. You can deposit cash for free at Capital One ATMs, but not Allpoint or MoneyPass ATMs.
Chase: 4 out of 5
Clients can make ATM withdrawals fee-free at any of Chase’s 16,000 ATMs. The out-of-network ATM fee is $3 per item.
Capital One: 5 out of 5
Capital One users, meanwhile, can make fee-free transactions at over 70,000 Capital One, Allpoint, and MoneyPass ATMs nationwide.
Chase: 4 out of 5
ACH payments cost $2.50 per item for your first 10 payments. Each succeeding payment will cost 15 cents. If you’re making a same-day ACH payment or a real-time payment, the fee is worth 1% of your transaction value.
Capital One: 5 out of 5
The provider offers unlimited free ACH payments.
Chase: 4 out of 5
New users can earn a welcome bonus when they open a Business Complete Banking account. They need to complete qualifying activities, such as:
- Open a new Chase Business Complete Checking account.
- Deposit a total of $2,000 or more in new money into the new checking account within 30 days of offer enrollment.
- Maintain at least a $2,000 balance for 60 days from the offer enrollment. The new money cannot be funds held by the business at Chase or its affiliates.
- Complete five qualifying transactions within 90 days of offer enrollment. These refer to debit card transactions, receiving QuickAccept payments, QuickDeposit, ACH credits, incoming and outgoing wire transfers, and bill pay through Chase digital banking.
Capital One: 0 out of 5
Capital One does not offer a welcome bonus.
Chase: 4 out of 5
Chase Business Complete Banking provides exclusive access to Chase QuickAccept, a payment processing solution that lets you accept card payments through the Chase mobile app. The service is free when using the mobile app, but you can also purchase a mobile card reader for $49.95.
These are the card processing fees:
- Tap, dip, and swipe transactions through the mobile card reader: 2.6% of the purchase amount plus 10 cents
- Manual transactions through the Chase app or website: 3.5% of the purchase amount plus 10 cents
Through Chase, you get same-day access to QuickAccept funds.
Capital One: 3 out of 5
Meanwhile, Capital One provides merchant services through Worldpay. You can use smart terminals, hosted web pages, and mobile readers to accept payments from a variety of card types.
Worldpay charges the following card processing fees:
- For transactions with the card present: 2.7% of the purchase amount plus 5 cents
- For transactions without the card present: 2.9% of the purchase amount plus 30 cents
Funds from card processing will typically appear in your account the day after your customer’s transaction.
Chase: 3 out of 5
Aside from Business Complete Banking, Chase offers two other business checking accounts.
- Performance Business Checking charges a waivable $30 monthly fee and includes unlimited electronic deposits, a monthly transaction limit of 250 items, and a monthly cash deposit allowance of $20,000. You can find more information in our review of Chase Performance Business Checking.
- Platinum Business Checking charges a waivable monthly fee of $95 and provides unlimited electronic deposits, a monthly transaction limit of 500 items, and a monthly cash deposit allowance of $25,000. Check out our Chase Platinum Business Checking review for more details. You can also refer to our review of Chase business checking for a comparison of all three Chase business checking accounts.
Capital One: 4 out of 5
Meanwhile, Capital One only offers one higher-tier account: Enhanced Checking.
- Enhanced Checking has a waivable monthly maintenance fee of $35 and provides unlimited digital transactions and unlimited fee-free cash deposits. Information about Enhanced Checking is also included in our overall review of Capital One business checking accounts.
Although Chase offers more account options, Capital One can accommodate higher cash volume for a lower monthly service fee.
Chase: 5 out of 5
Chase’s additional products include savings accounts, CDs, credit cards, business lines of credit, small business loans, commercial real estate financing, and employee 401(k) plan solutions.
Capital One: 5 out of 5
When comparing Capital One vs Chase business accounts, both offer many similar services. Capital One has business savings, CDs, credit cards, Small Business Administration (SBA) loans, lines of credit, real estate term loans, business installment loans, specialized lending, vehicle and equipment loans, and Escrow accounts.
Chase vs Capital One Business Checking Review From Users
Chase | Capital One | |
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WalletHub Rating | 3.8 (based on more than 27,000 reviews on WalletHub[1]) | 3.7 (based on more than 78,000 reviews on WalletHub[2]) |
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User reviews for both Chase and Capital One are mixed. The majority of recent reviews for both skewed negatively.
Chase customers were satisfied with the bank’s fast settlement and reasonable fees. They also praised Chase’s customer support team and mentioned that they were polite and knowledgeable. However, some stated that the required balance to waive the basic checking account’s monthly fee is unjustifiable with its average business account. Others complained about the frequent account restrictions they experienced.
Meanwhile, some Capital One users said that their deposits were credited quickly. However, several stated that the bank’s ACH transfers were slow and sometimes took a week. A few reviewers also reported that the bank locked their accounts without providing a full explanation and specific deadlines for the account review.
Frequently Asked Questions (FAQs)
Depending on your needs, you might consider Chase if you prefer multiple physical locations, bonus rewards for new accounts, and convenient online account opening. Meanwhile, if you prioritize low banking fees and unlimited free ACH payments, Capital One is suitable.
Capital One has approximately $478.7 billion in assets as of the bank’s most recently filed call report in December 2023.
Yes, Chase is considered the largest bank in the US. It has an estimated $3.4 trillion in assets as of the bank’s most recently filed call report in December 2023.
Bottom Line
Choosing between Capital One vs Chase business accounts typically is a matter of geographic availability. Capital One does not allow online account opening and operates its brick-and-mortar branch network exclusively in fewer states than Chase.
If you run your business within the Capital One service area, you can benefit from lower cash deposit fees and free ACH payments. However, Chase is a better all-around provider thanks to its wide branch network, extensive product selection, and affordable merchant services solutions.
User review references
[1]WalletHub | Chase
[2]WalletHub | Capital One
