As traditional banks, U.S. Bank and Chase offer in-person banking and online banking services. U.S. Bank offers the Business Essentials Checking account with no monthly service fee, unlimited digital transactions, and 25 free teller transactions. Meanwhile, Chase has the Business Complete Banking Account with a $15 monthly fee that can be waived by meeting certain criteria and unlimited transactions. U.S. Bank covers 26 states
- U.S. Bank: Best for businesses that are looking for an affordable checking option and have fewer than 25 teller transactions. For in-person transactions, you’ll need to be in one of the 26 states with physical branches.
- Chase: Best for businesses needing a wide geographic footprint and unlimited transactions with the ability to meet a minimum balance requirement of $2,000 or make qualifying debit card transactions.
Comparison of U.S. Bank vs Chase Business Checking
 Business Essentials |  Business Complete Banking | |
|---|---|---|
| Online Banking Availability | All states | 48 states |
| In-person Banking Availability | 26 states | 48 states |
| Required Opening Deposit | $25 | $0 |
| Monthly Fee | $0 | $15; waivable |
| Monthly Transaction Limit Before Fees | Unlimited digital transactions and 25 free teller transactions | Unlimited debit and Chase ATM transactions and up to 20 teller/paper transactions |
| Excess Transaction Fee | $0.50 per transaction | No charge |
| Domestic Wire Transfer Fees |
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| International Wire Transfer Fees |
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| ATM Fees |
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| Monthly Cash Deposit Allowance | 25 units | $5,000 in cash per statement cycle |
| Excess Cash Deposit Fee | $0.50 per deposit | $0.40 per deposit |
| APY | N/A | N/A |
| For More Information | Read our U.S. Bank Business Checking review | Read our Chase Business Complete Banking review |
Silver Business Checking | Business Complete Banking | |
|---|---|---|
| Debit Card | Free debit card | Free debit card |
| Software Integrations | Elavon, Hyphen Solutions, Kyriba, Modern Treasury, Submittable, QuickBooks, Quicken, Transcard, Travel Bank, Treasury4, Trovata, Zelle | Agree, Eventzilla, Fiskl, Stax Bill (formerly Fusebill), mHelpDesk, PayRent, Preto3, QuickBooks, Zelle |
| Invoicing Products | Boost cash flow | Chase Payment Solutions, QuickAccept |
| Other Products Available | Remote deposit capture (RDC), merchant services, cash vault services, business loans and lines of credit | Merchant services, fraud protection, bill pay, ACH payments |
| For More Information | Read our U.S. Bank Business Checking review | Read our Chase Business Complete Banking review |
When to Use U.S. Bank, Chase, or Alternatives
U.S. Bank is a good fit for businesses that:
- Operate in one of the 26 states
- Need a business checking account with no monthly fee
- Are looking for an account with free software integrations
- Need an account that doesn’t require a minimum balance
- Deposit up to 25 units
Chase is ideal for businesses that:
- Can maintain an average monthly balance of $2,000 or higher
- Need a bank with branches nationwide
- Do not make more than 20 in-person deposits per month
- Deposit less than $5,000 in cash per month
- Need unlimited debit and ATM transactions
- You seek to earn interest on checking balances: Neither Business Essentials Checking nor Business Complete Banking earns interest. Bluevine is an online-only fintech provider offering an APY of 1.3% on qualifying balances up to $250,000. To learn more about how to qualify for the APY, read our review of Bluevine business checking. The account has no minimum balance requirement, no overdraft fees, and no monthly maintenance fee.
- You maintain a high balance and want a great rewards program: U.S.Bank and Chase have many benefits; however, Bank of America has a special program called Preferred Rewards for Business
See our list of the best small business checking accounts for additional recommendations.
Comparison of Chase vs U.S. Bank Business Checking Features
| U.S. Bank | Chase | |
|---|---|---|
| Overall Rating | 4.66 ★ | 4.16 ★ |
| Geographic Availability | ★★★ | ★★★★★ |
| Online Account Opening | ★★★★★ | ★★★★★ |
| Monthly Fees | ★★★★★ | ★★★ |
| Monthly Transaction Limits | ★★★★★ | ★★★★ |
| Other Checking Accounts | ★★★★★ | ★★★ |
| Other Products | ★★★★★ | ★★★★★ |
| Rating Explanation: ★★★★★: This feature enhances your banking experience at little to no cost.★★★★: This feature has a few minor drawbacks/limits or comes at a slight cost.★★★: This feature has a few drawbacks/limits or comes at a slightly high cost.★★: This feature has a few major drawbacks/limits and comes at a high cost.★: This feature has major drawbacks/limits.0: This feature is unavailable. | ||
U.S. Bank has a slight edge over Chase from an affordability standpoint. Meanwhile, Chase takes the lead for geographic reach.
U.S. Bank: 3 out of 5
U.S Bank has branches in Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Dakota, Tennessee, Utah, Washington, Wisconsin, and Wyoming.
Chase: 5 out of 5
Chase has branches in all 48 mainland states (excluding Alaska and Hawaii).
U.S. Bank: 5 out of 5
Accounts can be opened online.
Chase: 5 out of 5
Accounts can be opened online.
U.S. Bank: 5 out of 5
There is no monthly maintenance fee for the Business Essentials Checking account.
Chase: 3 out of 5
Conditions required to waive monthly fee:
- Maintain a $2,000 minimum daily ending balance, or
- Receive $2,000 in eligible deposits from your Chase QuickAccept® or other eligible Chase Payment Solutions Transactions, or
- Make $2,000 in eligible purchases from your Chase Ink Business card, or
- Maintain a linked Chase Private Client Checking℠, JPMorgan Classic Checking, Private Client Checking Plus account, or
- Meet Chase Military Banking Requirements
U.S. Bank: 5 out of 5
With Business Essentials Checking, you get unlimited digital transactions and 25 free teller transactions each month.
Chase: 4 out of 5
Business Complete Banking only gives you 20 free teller and paper transactions per month; each transaction after the limit costs 40 cents. These transactions refer to the following:
- Deposits and withdrawals made with a teller
- Paper checks written on your account
However, you also get unlimited digital transactions for free. Digital transactions include:
- Check deposits through Chase QuickDeposit
- Electronic deposits and deposited items
- Debit card transactions
- In-network ATM deposits and withdrawals
- Payments and transfers made through the Chase website or mobile app
U.S. Bank: 5 out of 5
U.S. Bank’s higher-tier business checking accounts also charge lower fees while offering relatively high transaction allowances.
- Gold Business Checking provides 350 free transactions and 125 free cash deposit units
- Platinum Business Checking offers 500 free transactions and 250 free cash deposit units
The bank also offers the following interest-earning specialty checking accounts:
- Nonprofit Checking has no monthly fee and offers 1,800 free transactions per calendar year and 300 units of free cash deposits per calendar year.
- Premium Business Checking offers earnings credit based on your balance. You can use earnings credit to offset banking fees.
Chase: 3 out of 5
Chase’s higher-tier business checking accounts have higher monthly fees and lower monthly transaction limits compared to U.S. Bank. However, they also have higher cash deposit allowances.
- Performance Business Checking has a $30 monthly fee (waivable). It offers unlimited electronic deposits, a monthly transaction limit of 250 items, and a monthly cash deposit limit of $20,000. Read our review of Chase Performance Business Checking review for more information.
- Platinum Business Checking charges a monthly fee of $95 (waivable). Like Performance Business Checking, it provides unlimited electronic deposits, plus monthly allowances of 500 items and $25,000 in cash deposits. For a more detailed breakdown, check out our Chase Platinum Business Checking review.
You may be interested in our Chase business checking comparison, which compares all three business checking accounts.
U.S. Bank: 5 out of 5
Aside from business checking, U.S. Bank offers business savings accounts, business CDs, business money market accounts, business credit cards, business loans, lines of credit, Small Business Administration (SBA) loans, and equipment or practice financing.
Chase: 5 out of 5
Chase’s additional products include savings accounts, CDs, business lines of credit, small business loans, commercial real estate (CRE) financing, and employee 401(k) plan solutions.
U.S. Bank vs Chase Business Checking User Reviews
When searching WalletHub for reviews of U.S. Bank and Chase, I was unable to find comments about specific business checking accounts. The reviews listed below are for the bank in general.
| U.S. Bank | Chase | |
|---|---|---|
| WalletHub Rating | 3.9[1] based on ~27,407 reviews | 3.8[2] based on ~27,602 reviews |
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Frequently Asked Questions (FAQs)
When searching for a bank for your business, it’s important to analyze your business model. If you receive large amounts of cash or checks, you should consider a traditional bank offering in-person service with local branches. If you accept most of your payments electronically, you can bank at a traditional bank or an online-only bank. Most banks offer entry-level accounts with reduced fees for small businesses. Once you do a bit of research you will most likely find a bank that fits your business needs.
Yes, Chase has a great product line for small businesses. It offers in-person banking in all 48 mainland states, and the monthly maintenance fee can be waived by following certain criteria. Chase also offers additional business products that you can add to your account, making business banking easier.
U.S. Bank’s Business Essentials Checking account does not charge a monthly fee and it does not require a minimum balance. This makes it an excellent choice for small businesses.
Bottom Line
If you are searching for a checking account for your small business, it would be good to compare Chase vs U.S. Bank business checking. The main decision should be based on which bank is the best fit for your business. U.S. Bank offers the Business Essentials Checking account, which does not have a monthly maintenance fee or a minimum balance. However, there are many states where U.S. Bank does not have a physical presence. Chase, on the other hand, has branches across the US, excluding Alaska and Hawaii. The fees are a bit higher but can be waived by meeting certain criteria.
User review references:
[1]WalletHub | U.S. Bank
[2]WalletHub | Chase
