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Bluevine Business Checking Review 2024: For Business Owners

Author: Chandra Dhopatkar
Published: 06/04/2024 8:50 a.m. EST
Last Update: 06/05/2024 4:12 a.m. EST
Edited by: Jennifer Bonilla

In this Bluevine Business Checking review 2024, we analyzed Bluevine business checking accounts to understand how they stand out among the best business bank accounts. We focused on fees, interest rates, features, and customer experience.

Bluevine Business Checking Account Review discovered by an online business startup.

What is Bluevine Business Checking?

Bluevine business checking meets small business owners’ needs. Bluevine banking provides competitive interest rates and minimal fees.

You should know that Bluevine is a financial technology company offering banking services through Coastal Community Bank.

Account Options and Requirements

Bluevine business checking accounts offer Standard and Bluevine Premier plans. Both have no minimum opening deposit, accessible for all businesses. Business owners can easily open a Bluevine business checking account via the Bluevine website.

Monthly Fees and Fee Waivers

The Standard plan has no monthly fee. The Bluevine Premier plan’s $95 monthly fee can be waived. Maintain a $100,000 account balance and spend $5,000 with Bluevine business debit Mastercard®.

Interest Rates (APY)

Bluevine offers high interest rates. Standard plan provides 2.0% APY on balances up to $250K. Premier plan offers 4.25% APY on balances up to $3M. These rates make Bluevine one of the best business checking options to earn interest.

Transaction Limits and Fees

Bluevine business checking accounts offer unlimited transactions. No fees for ACH and incoming wires. Fees apply for same-day ACH and domestic wires. Bluevine does not offer a personal checking account. Bluevine business checking account via ACH allows efficient payments. Business checking account includes features like Bluevine business debit Mastercard.

ATM Access and Cash Deposits

Bluevine excels in online banking. Limited ATM access and cash deposits. Bluevine customers can review ATM access policies. The Bluevine business debit card allows cash withdrawals. Bluevine business checking offers mobile check deposit or directly via ACH.

Online and Mobile Banking

Bluevine’s online banking and mobile app are user-friendly. Features include mobile check deposit, bill pay, and alerts. Bluevine app enhances the banking experience. Bluevine online platform supports various business accounts.

Customer Service

Priority customer support is available for Premier plan members. Ensuring quick and efficient help when needed.

Additional Services

Bluevine offers business lines of credit and payment solutions. Invoice factoring helps manage cash flow. These offerings are especially useful for building business credit. Bluevine banking includes business products and services for growth.

Bluevine business account holders enjoy multiple benefits. Banking services are provided by Coastal Community Bank and insured through The Bancorp Bank.

Bluevine Business Checking Account Pros and Cons

Pros:

No monthly fees for Standard plan.
High interest rates on both plans.
Unlimited transactions without fees.
High FDIC insurance limits.

Cons:

Premier plan’s fee can be steep if conditions unmet.
Higher fees for specific services compared to competitors.
Bluevine doesn’t offer traditional retail locations.

Still unsure about Bluevine checking and want more insight into opening a business bank account and its benefits, then you might be interested in reading:

Is Bluevine Business Checking Right for You?

Bluevine business checking is ideal for business owners. Seek high interest and fewer fees. Suitable for small business owners valuing online banking and support. A Bluevine business account comes with no overdraft fees, making it attractive for businesses.

Bluevine Business Checking Review

Bluevine Business Checking stands out for high interest rates, no monthly fees (under conditions) and robust online banking features.

It’s best for businesses comfortable with online banking.

If meeting Premier plan waiver requirements, it offers exceptional value. Bluevine business checking includes features like Bluevine Plus and Bluevine business cashback, enhancing its appeal.

More Business Bank Reviews

For comparison, you might also explore reviews of other business banks. Here are some of the best business banks we’ve reviewed.

Conclusion

In this Bluevine business checking review 2024, we’ve highlighted Bluevine’s technology-driven approach. For business owners looking for a reliable business bank account, Bluevine is a strong contender.

Bluevine requires minimum deposit to open accounts, making it accessible for new businesses. Business checking customers benefit from efficient online business checking. Bluevine business checking offers value to business owners who don’t need retail locations.

Bluevine’s business checking is suitable for various business entity types, including those opening a business such as an LLC or sole proprietorship. Business credit cards and additional services like Bluevine Premier make it competitive. Bluevine business checking account includes features beneficial to account holders.

Additional Information to Consider

Bluevine account holders can expect their payments into your Bluevine business account to be processed within three business days. Bluevine account setup requires a social security number or employer identification number. Customer payments into your Bluevine business account are seamless and efficient.

For those considering business savings, Bluevine offers attractive options. Allow business owners to enjoy the benefits of high APY without charging any overdraft fees per account. Each Bluevine business account includes necessary features for effective business banking.

Your Bluevine account allows checking balances easily, unlike traditional banks. Any deposit amount withdrawn from your account is swiftly processed. Although Bluevine doesn’t have retail locations, it supports efficient online business operations. Bluevine Premier plan is ideal for small business banking with higher transaction needs.

Using the Bluevine business debit Mastercard®, businesses can manage transactions efficiently. Chase Business Complete is a competitor, but Bluevine’s offerings are tailored for small businesses. Business name and entity type are required when you’re a business setting up a Bluevine account.

In summary, Bluevine business checking is an excellent choice for business owners. Get a business account with Bluevine and enjoy comprehensive small business banking services along with the Bluevine debit card.

How to Open a Bluevine Business Checking Account

Opening a Bluevine Business Checking account is straightforward. Follow these steps to get started:

Visit the Bluevine Website: Go to the Bluevine website and navigate to the business checking section.
Click on “Open an Account”: Find and click the “Open an Account” button to begin the application process.
Provide Business Information: Enter your business name, business entity type, and other relevant details. This includes your social security number or employer identification number.
Submit Personal Information: Provide your personal information, including your contact details. Bluevine requires a valid ID for verification.
Enter Financial Details: Input your expected monthly deposit amount and the average number of customer payments per month. Unlike Bluevine, some banks require a minimum deposit; however, Bluevine does not.
Choose Your Account Type: Select between the Standard and Bluevine Premier accounts. Review the features and fees associated with each.
Link an External Bank Account: Connect an existing bank account to fund your new Bluevine business checking account. This linked account will serve as your main account for transfers.
Review and Agree to Terms: Carefully read the terms and conditions. Agree to the terms by checking the appropriate boxes.
Submit Your Application: Complete the application process by clicking the “Submit” button. Your application will be reviewed, and you will receive confirmation via email.
Receive Your Bluevine Business Debit Card: Once approved, you will receive your Bluevine business debit card in the mail. Activate it and start using your new account.

By following these steps, you can easily set up your Bluevine business checking account and begin managing your finances efficiently.

Bluevine Bank FAQs

Is Bluevine legit?

Yes, Bluevine is a legitimate financial technology company. It provides business banking services through Coastal Community Bank.

Is Bluevine a bank?

No, Bluevine is not a bank. It is a financial technology company that partners with Coastal Community Bank to provide banking services.

What is Bluevine Bank?

Bluevine is a financial technology company, not a traditional bank. It offers banking services through Coastal Community Bank.

Is Bluevine a good bank for small businesses? Does it offer the best business checking?

Yes, Bluevine is a good bank for small businesses. It offers competitive interest rates and supports a high number of customer payments per month.

What do Bluevine reviews say?

Bluevine reviews are generally positive. Users praise its high interest rates, no monthly fees, and efficient online services.

Does Bluevine have Zelle?

No, Bluevine does not currently support Zelle. However, Bluevine offers other payment solutions to meet business needs.

Bluevine vs Chase Business Checking: Which is better?

Bluevine offers higher interest rates and no monthly fees. Chase Business Checking provides extensive branch access. Choose based on your business’s specific needs.

Chandra Dhopatkar, MBA

Chandra, founder of “Build Business Credit in 30 Days,” specializes in increasing business valuations by helping companies build strong business credit.