Chase and Capital One are two of the most reputable names in traditional banking. Their basic business checking accounts—Chase Business Complete Banking and Capital One Basic Checking—offer comprehensive banking services for a modest price.
Between the two, Capital One’s fees are slightly lower. However, it suffers from a lack of brick-and-mortar branches and does not support online account opening. Meanwhile, Chase has more than 4,000 branches across all 48 mainland states, plus you can open a Business Complete Banking Account online.
Here is a summary of what each is best for:
- Chase: Best overall with full-service banking with wide geographic availability
- Capital One: Best for lower excess cash deposit fees and free automated clearing house (ACH) transactions
Capital One currently requires that you visit a branch to complete an application to open a business checking account. There are 755 branches across Virginia, Texas, New York, New Jersey, Maryland, Louisiana, and Washington, D.C.
Chase vs Capital One Business Checking Quick Comparison
 Business Complete Banking |  Basic Checking | |
|---|---|---|
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 through Chase Merchant Services | None |
Other Products Available | Business savings, certificates of deposit (CDs), lending products, credit cards, merchant services, collection services | Business savings, lending products, credit cards |
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Comparison of Chase vs Capital One Business Checking Features
Chase | Capital One | |
|---|---|---|
4.18 ★ | 3.09 ★ | |
Geographic Availability | ★★★★★ | ★★ |
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 | ★★★★★ | ★★★★★ |
★★★★★ 5: This feature enhances your banking experience at little to 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.
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 titles 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 United States states except Alaska and Hawaii.
Capital One: 2 out of 5
The bank only has 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 average daily balance
- Have $2,000 in net purchases on Chase InkBusiness 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 $0.40.
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 more than 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 accounts can earn a welcome bonus of $300 or $500 by completing qualifying activities. Here are the requirements you need to complete to become eligible:
- Make a deposit worth $2,000 or more. Deposits of $2,000 to $14,999.99 are eligible for the $300 bonus, while deposits worth $15,000 or more are eligible for the $500 bonus.
- Maintain a balance of $2,000 or more for at least 60 days after your enrollment date.
- Make at least five qualifying transactions within 90 days of opening your account. Qualifying transactions include 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 from FIS. 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: 2.60% of the purchase amount plus 10 cents
- For transactions without the card present: 2.90% of the purchase amount plus 30 cents
Funds from card processing will typically appear in your account a 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, business lines of credit, small business loans, commercial real estate financing, and employee 401(k) plan solutions.
Capital One: 5 out of 5
Capital One offers many similar services. It has business savings, CDs, 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 User Reviews
Chase | Capital One | |
|---|---|---|
WalletHub Rating | 3.8 (based on nearly 27,000-plus reviews1) | 3.7 (based on more than 76,000 reviews2) |
Users Like |
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Users Dislike |
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User reviews for both Chase and Capital One are mixed. On WalletHub, Chase has a rating of 3.8, while Capital One has a 3.7. In both cases, most reviews published in recent years were negative.
Chase users were dissatisfied with the bank’s pricing, with one having said that they found the bank’s features too basic to justify the $15 monthly fee and the $2,000 minimum daily balance requirement to waive it. Other customers mentioned that they like the bank’s timeliness. According to reviews, opening an account is a fast and easy process, and cards get delivered soon after approval.
Given the size of the bank’s branch network, feedback for customer service was varied: while some customers found the bank’s staff friendly and knowledgeable, several complained that they found Chase’s service impersonal.
Meanwhile, Capital One users found the bank’s business checking services too slow. According to customers, checks and ACH payments sometimes take more than five days to clear. Some also waited for a month to receive their debit cards.
Other users complained that Capital One lacked branches. The few positive reviews published in recent years praised the bank for offering fee-free overdraft protection.
Bottom Line
Choosing between Capital One vs Chase business accounts is typically a matter of geographic availability. Capital One does not allow online account opening and operates its brick-and-mortar branch network exclusively in six states and the District of Columbia. 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.
For more tips on selecting a business banking provider, check out our guide on how to open a business bank account.
User review references
1Chase on WalletHub
2Capital One on WalletHub
