Capital One vs. Chase: Which Is Better for Business Checking?
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If you’re looking for a business checking account with a big-name bank, Capital One and Chase are likely on your radar. But how do you decide which is best for your small business?
Ultimately, the best business checking account depends on the unique needs of your business. Do you make a lot of cash deposits? Need frequent branch access? Want an easy payment solution?
We broke down the key features of the entry-level checking option for Capital One and Chase to help you decide which is the best bank for your business.
Capital One vs. Chase business checking at a glance
Capital One Business Basic Checking® | Chase Business Complete Banking℠ | |
|---|---|---|
Monthly fee: | $15 Waived if you:
| $15 Waived if you do one of the following:
|
Minimum opening deposit requirement: | $250 | $0 |
APY: | None | None |
Transactions: | Unlimited (in-person and electronic) | Unlimited electronic deposits; 20 free in-person transactions and paper checks per month. |
Cash deposits: | Up to $5,000 per month with no fee, after that $1 fee per $1,000 deposited. | Up to $5,000 per month with no fee, after that $2.50 fee per $1,000 deposited. |
Branch access: | Around 380 branch locations in eight states and Washington, D.C. | Nearly 5,000 branch locations nationwide. |
Standout features: |
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Capital One vs. Chase business checking: key features
Transaction limits
Advantage: Capital One Business Basic Checking
Capital One’s Business Basic Checking offers unlimited fee-free transactions, so small-business owners don’t need to track every transfer, deposit, withdrawal and bill payment. Instead, you can write paper checks and visit a teller whenever necessary.
By comparison, Chase Business Complete Banking offers unlimited electronic transactions, including mobile deposits, ACH payments and debit card transactions, but customers are limited to just 20 paper checks and in-person transactions per month.
Branch access
Advantage: Chase Business Complete Banking
Chase operates nearly 5,000 branches across nearly 40 states. Capital One’s physical footprint is a fraction of that, with around 380 branches across eight states and Washington, D.C. You have to visit a branch to open a Capital One business account, so proximity to a branch is important for prospective customers.
Opening an account
Advantage: Chase Business Complete Banking
Chase makes it easy to open a business checking account. Small-business owners can open a Chase business checking account online, in person or over the phone. Beyond that, there is no minimum opening deposit, so you can get started with as little as $1.
Opening a Capital One business checking account requires an in-person visit to a local branch and a minimum opening deposit of $250.
Cash deposits
Advantage: Capital One Business Basic Checking
This one is almost a draw — both accounts cap free cash deposits at $5,000. What makes the difference? Capital One Business Basic Checking charges $1 per $1,000 beyond the limit, compared with $2.50 per $1,000 with a Chase Business Complete Banking account.
Advantage: Chase Business Complete Banking
Chase and Capital One both offer a full range of online and mobile banking services, including online bill pay and mobile deposits and transfers. But one key feature gives Chase Business Complete Banking an edge: Chase QuickAccept, which lets you accept credit card payments via the Chase mobile app, no additional equipment necessary.
 American Express® Business Checking Member FDIC |  Bluevine Business Checking Deposits are FDIC Insured |  Grasshopper Business Checking Account Member FDIC |
|---|---|---|
NerdWallet rating 5.0 /5 | NerdWallet rating 4.7 /5 | NerdWallet rating 4.5 /5 |
Monthly fee $0 | Monthly fee $0 | Monthly fee $0 |
APY 1.30% With $0 min. balance for APY | APY 2.00% With $0 min. balance for APY | APY 2.00% With $0 min. balance for APY |
Bonus $0 Requirements to qualify | Bonus $300 Requirements to qualify | Bonus N/A |
Learn More at American Express National Bank, Member FDIC | Learn More at Bluevine, Deposits are FDIC Insured | Learn More at Grasshopper Bank, Member FDIC |
Capital One vs. Chase business checking: The bottom line
Chase Business Complete Banking wins out on several key features, including branch access, mobile banking and the ease of opening an account. Plus, Chase has retail locations in nearly 40 states.
Chase Business Complete Banking’s main drawback: very limited free in-person transactions. Given that, Capital One Business Basic may be the better choice if your business requires frequent, in-person transactions.
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