If you are a current or former military member, and a small business owner, then I recommend taking a look at Chase for your business banking needs.
Chase offers military members and veterans special banking benefits for both personal and business accounts. This overview will discuss the Chase for Business Military Banking Benefits as well as discuss additional areas in which Chase serves the military community.
Chase for Business Military Banking Benefits
Here are the top benefits from the Chase for Military Business Banking Program
- Introducing Chase Business Complete BankingSM – monthly service fee waived for military members and veterans.
- Business Line of Credit – annual fee waived for the first year
Let’s look at each of these in more detail.
Chase Business Complete Banking Account Overview
The monthly service fee is waived for qualifying Chase Business Complete Banking accounts opened by military members or veterans. Some of the benefits from this account include:
- 100 transactions per month at no charge, plus unlimited electronic deposits
- $5,000 cash deposit per statement cycle without an additional fee
- Send and receive funds with wire transfers, Chase QuickDepositSM, Chase OnlineSM Bill Pay and more
- Access to Chase OnlineSM Banking and Chase Mobile® Banking
- Chase Business Debit, Deposit and ATM cards offer owners control and provide options for signers and employees to access ATMs and make purchases
- Chase Military Banking available for service members
- Access to 16,000 ATMs and over 4,700 branches
- 24/7 customer service
There is normally a monthly service fee for the Chase Business Complete Banking account. However, Chase waives the monthly fee for veteran-owned businesses. Fees can generally be waived for other qualifying activities as well, such as maintaining certain deposit balances or through making purchases on your Chase Ink® Business credit card.
Additional Chase Business Banking Benefits
Chase offers additional products and services for its business banking customers. These include:
Debit and Credit Cards: Chase offers business debit cards with your Chase Business Complete Banking account. Business owners can also apply for a Chase credit card. There are several great business credit cards to choose from. Approval for these cards is based on credit history and other factors. See the Chase website for more details.
Merchant Services: Many businesses need Merchant Services, which allows your business to accept different forms of payments. Chase offers these services as an add-on to their various business banking plans. The cost for these services vary based on the package you select. You can contact your local Chase branch to speak with a small business banking specialist for more information.
Business Services: Chase also offers a variety of other business services, including payroll, credit and debit card processing, collection services, foreign exchange services, and more, all the way up to commercial banking services. In fact, Chase is one of the few banks that can take your business from startup to IPO.
Business Line of Credit – Fee Waived for the First Year
A business line of credit is often helpful for small businesses that need a revolving line of credit to ease cash flow needs, purchase inventory, or handle other needs. Chase Business banking offers business lines of credit to qualified businesses. And Chase for Business Military Banking customers are eligible to have the annual fee waived for the first year.
How to Open a Chase for Business Military Banking Account
Opening a business checking account is a little different than opening a personal checking account. You will need to ensure you bring your articles of incorporation or other legal paperwork, along with your Employer Identification Number (EIN) and other business papers. Finally, you will want to ensure you have all the required officers for the business in attendance when you open your account.
The monthly service fee is waived for the Chase Business Complete Banking account with valid, qualifying proof of military service. All loans, credit cards, and lines of credit are subject to credit approval. Please talk to a banker for details.
$300 Sign Up Bonus for Chase Business Complete Banking Account
New customers can earn a $300 sign up bonus when they open a Chase Business Complete Banking account and perform qualifying activities. To qualify, you must open a Chase Business Complete BankingSM account, deposit a minimum of $2,000 within 30 business days, maintain at least that balance for 60 days, and perform at least 5 qualifying activities in the first 90 days. Qualifying activities include transactions such as debit card purchases, Chase Quick Deposit, wire transfers, ACH transfers, ACH (Credits), and wires (Credits and Debits).
$300 Bonus Offer Details
- Earn $300 when you open a new Chase Business Complete Checking account. For new Chase business checking customers with qualifying activities.
- More ways to waive fees. Multiple options to waive the Monthly Service Fee, including maintaining a minimum daily balance or purchases on your Chase Ink® Business credit card
- Convenient access to payment processing. Accept card payments anytime, anywhere in the U.S., and get transparent pricing with Chase QuickAccept(SM).
- Same-day deposits with QuickAccept(SM). Free up the cash you need to keep your business moving forward with same-day deposits at no additional cost.
- Alerts to help you stay on top of your account activity.
- Easy account management through Chase Business online and the Chase Mobile® app.
- Unlimited electronic deposits, ACH and Chase Quick DepositSM.
- Convenient access to 16,000 ATMs and more than 4,700 branches.
How Chase Supports the Military Community
JPMorgan Chase has long been a supporter of the military community. In addition to supporting current and former military members with their various banking needs, Chase has led several hiring initiatives, including being a founding member of the Veterans Jobs Mission, which has hired over 500,000 veterans to date. The ultimate goal of the Veterans Jobs Mission is to hire over one million veterans.
Since 2011, Chase has hired over 14,000+ veterans and service members across all their lines of business.
JPMorgan Chase has also partnered with the Institute for Veteran And Military Families at Syracuse University to provide free career training, certification, and employment opportunities. Nearly 30,000 participants have enrolled.
Chase has also invested over $8 million to support veteran-owned small businesses through access to capital and incubator efforts.