Update 10/5/21: Change has been delayed for existing customers:
We recently sent you a letter to let you know that we were converting your business account(s) ending in XXXX effective October 10, 2021.
We’ve postponed this change, so it won’t happen this year. We’ll send you a letter with the new date when the account conversion is rescheduled. No action is needed at this time
Update 8/2/21: Chase has sent out letters to account holders letting them know they will be changed over to the new account.
Update 11/24/20: This has now been confirmed, some Chase business credit card holders are being targeted for a $300 bonus as well.
Original post (10/10/20): There is a rumor that Chase will replace the Chase Total Business Checking with something called Chase Business Complete Banking. Changes are as follows:
- Additional ways to waive the monthly fee:
- Spend $2,000 or more on Ink Business Credit Cards (transactions eligible for reward points are counted)
- Have $2,000 of deposits from QuickAccept transactions and/or other eligible Chase Mechant Services solutions
- Maintain a minimum balance of $2,000 or more in this account (currently $1,500)
- You maintain a linked Chase Private Client CheckingSM or
Chase Sapphire® Checking personal account(current fee waiver)
There are a few other charges as well, for example the following transactions no longer incur a fee once you have over 100:
- Debit card purchases
- ACH payments and deposits
- ATM usage
- Incoming wire transactions
- Check deposit at ATM
- ATM cash deposits
Main difference is needing a $2,000 balance instead of $1,500 to keep fee free.
