Chase are making changes to the monthly fee on their business checking accounts. These changes will go into place on August 27th, 2017. The reason readers will care is that Chase frequently offers sign up bonuses on these business checking accounts of up to $500. Changes are as follows:
- Chase Total Business Checking.
- Monthly fee will increase to $12 (from $10) for those without paper statements.
- Monthly fee will increase to $15 (from $12) for those with paper statements
- Fee waiver remains unchanged ($1,500 minimum daily balance)
- Chase Performance Business Checking:
- Monthly fee will be increased to $30 (from $20)
- Fee waiver will require $35,000 in qualifying business deposits (currently $50,000)
Don’t really think this will affect most readers as you should be meeting the fee waiver requirements for the total business checking account anyway and it’s really only worth signing up for these accounts for the bonuses in my opinion. Still worth pointing out so anybody that does keep it long term is aware of the cards.
Hat tip to Travel In Miles
How sure are we about the changes to Total Checking? I received letter from Chase yetserday showing new fee schedule, and there was no “waiver” under Chase Total Business, but the waiver was listed for Chase Performance. Got me to think they may have made the fee mandatory for Chase Total Business
Are you sure you weren’t looking at just a list of changes?
Here’s how to access the document from your Chase login:
Customer Center -> See Deposit Disclosures and Interest Rates -> Business Banking ABSF Mass English – Effective Date 6/15/2017
The first page simply lists all the changes that they’ll be making to the fee schedules, which start from the second page.
If the changelist did not mention it, then it is not changing from whatever was previously shown in those fee schedules.
+1
Not average balance.
*Maintain a minimum daily balance of $1,500 or more in this account.
Minimum daily balance is based on your ledger balance at the end of each day.
Fixed thanks
Thanks for the information.
Luckily it still only requires $1,500 for Total for fee waiver.