TO OPEN A CORPORATE ACCOUNT IN CHASE BANK (USA)
Chase Bank (official name is JPMorgan Chase Bank, N.A.) is one of the largest and most famous commercial banks in the United States and in the world. It is a division of the financial giant JPMorgan Chase & Co., one of the largest banking holding companies in the world.
MAIN ADVANTAGES
Reliability and stability
- Chase is the largest US bank by assets.
- It is supervised by US regulators and is included in the FDIC deposit insurance system (up to $250,000).
Corporate bank accounts
Convenient current and savings accounts adapted for small and medium businesses.
Merchant Services
Accepting payments from clients (cards, online payment, POS terminals).
Business lending
- Credit lines, leasing, business cards, lending for turnover and development.
Supporting of Startups and Small Businesses
- Chase Business Complete Banking℠ is a popular starter product with no high fees.
Financial management and reporting
- Integration with accounting programs, transaction analytics.
ABOUT THE BANK
Chase Bank (full name – JPMorgan Chase Bank, N.A.) is one of the largest and most famous banks in the United States. It was founded in 2000 (formed as a result of the merger of Chase Manhattan Bank and J.P. Morgan & Co., but Chase’s roots date back to 1799). The Bank’s headquarters are located in New York. Chase is one of the largest deposit holders in the United States and is often the bank of choice for opening accounts and obtaining loans due to its wide presence and variety of products.
WHO IS SUITABLE FOR OPENING AN ACCOUNT?
Small Business
Examples:
- Shops, cafes, restaurants
- eCommerce
- Freelancers and self-employed
- IT-consultants, designers, marketologists
Why it is suitable:
- Easy account opening
- Convenient online banking and mobile application
- Access to POS terminals and business cards
- Credit products and business loans
Brick-and-mortar companies
Examples:
- Retail stores
- Beauty salons, dentists, services
Advantages:
- Possibility of cash collection
- ATMs and branches throughout the country
- Merchant services — terminals for accepting cards
Online-business and startups
Examples:
- SaaS-companies, marketplaces
- Amazon/eBay/eCommerce-sellers
- Dropshipping and digital-products
Why it is worth considering:
- Reliable account from the large bank
- Integrations with QuickBooks, PayPal, Shopify
- Possibility to obtain a business credit card or business line of credit
Important: Online-business must have a clear evidence of business activity (contracts, web-site, EIN).
Foreign owned companies (foreign business)
It is suitable,if:
- There is a registered company in the USA (LLC, Corp)
- There is a US address and EIN (tax number)
- Director/owner has SSN or ITIN (or at least passport and visa)
Chase may require the account holder to appear in person when opening an account
Get a free advice – is this service right for you
ACCOUNT FEES
Chase Business Complete Banking
Chase Performance Business Checking
Chase Platinum Business Checking
Monthly fee: $15 (is cancelled if any of the following conditions is met):
- ≥ $2,000 average daily balance
- ≥ $2 000 purchases on the Chase Ink Business Card
- ≥ $2 000 deposits through QuickAccept or similar,
- Linked Private Client account or military status
Transactions:
- Electronic and card transactions — unlimited,
- Limit on cashier/cheque transactions — 20 free, then $0.40 per transaction
Wire-transfers:
- incoming up to $15,
- outgoing: $25 online, $35 in a branch,
- international: $40 online / $50 in a branch
Monthly fee: $30 (is cancelled if average balance is ≥ $35 000)
Transactions: up to 250 free operations with a cashier/checks, then $0,40 per operation
Wire: all incoming + 2 outcoming domestic are free; then standarts — $25 online, $35 in a branch; international are the same as Complete .
Others: similar rates for overdraft, ATMs, ACH.
Monthly fee: $95 (is cancelled if average balance is ≥ $100 000 or ≥ $50 000 + Private Client status) .
Transactions: up to 500 free transactions, then $0.40 each.
Cash-deposits: up to $25 000/cycle free
Wire: unlimited incoming + outcoming domestic free; international — standard
MAIN CONDITIONS OF ACCOUNT OPENING
Minimum account deposit: $100,000 (deposit must be made within 60-90 days after account opening).
This money can be used in business without restrictions – funds are not frozen and are available for operations
Think of it as: “transfer your funds to us and prove that you are the real owner of the business.”
Only EIN (company tax number) is enough
SSN, ITIN and physical presence are not required
Terms:
- opening an account – within 48 hours after submitting documents;
- if it is necessary to register a company (LLC + EIN + address) – additionally up to 48 hours.
DOCUMENTS FOR BANK ACCOUNT OPENING
If LLC already exists:
- Certificate of Formation
- Description of business
- Annual revenue
- Projected account balance
- Legal address of a company
- Business phone number (preferably American VoIP, with call and SMS capabilities)
Information on account owners and signatory:
- Legal address
- Date of birth
- SSN/ITIN (if available – not required)
- Passport or driver’s license (copy of the front side)
- Second form of ID (bank card – front side)
- Email and mobile number
- If there is more than one owner (share more than 10%) – the ownership structure must be indicated.
OUR SERVICES
We offer a unique opportunity to open a business account in one of the largest US banks – Chase Bank without the need for personal presence and without SSN/ITIN.
$4000, if you already have a registered LLC company in the USA
$4500, if you need to registrate a new новую LLC company (we will do it for you).
WHY IT IS WORTH USING PROFESSIONAL SUPPORT
We provide reliable and quick communication with the bank
Comprehensive support and assistance
Resolving any issues with the compliance department
Consultations on the correct use of the account
OUR TEAM
Yevhen Sarafanov
Owner and CEO LOCMAN ICS LTD
Ludmila Chilik
Corporate and tax lawyer (Europe, USA, East Asia, UAE)
✔Reboot your business with us