Bluevine was launched to help small-to-medium-sized business owners with their finances, starting with its no-monthly-fee business checking.
Select named Bluevine Business Checking the best account for small businesses because it gives account holders the ability to earn interest on their balances.
Small business owners can sign up for the online-only bank account in minutes and make an unlimited number of transactions per month. Account holders receive a Bluevine Business Debit Mastercard®, and, using the phone app, you can lock and unlock the card if you misplace or lose it for added security.
Ahead, we review the Bluevine Business Checking Account, taking into consideration access to cash, perks and fees. (Read more about our methodologybelow.)
Bluevine Business Checking Account Review
- Access to your cash
- Perks
- Fees
- Bottom line
Bluevine Business Checking
On Bluevine's secure site
Special offer
N/A
Monthly maintenancefee
$0
Minimum deposit to open
$0
Minimum balance
$0
Annual Percentage Yield (APY)
Standard: 2.0% APY on balances up to and including $250,000 if you meet a monthly activity goal* Bluevine Plus: 3.0% APY for Plus customers
Premier: 4.25% APY without minimum qualificationsFree ATM network
No fees at over 38,000 ATM locations nationwide
ATM fee reimbursem*nt
No
Small business perks
Two free checkbooks
Overdraft fee
$0
Mobile check deposit
Yes
Terms apply. Bluevine accounts are FDIC insured up to $3 million per depositor through Coastal Community Bank, Member FDIC
*The requirements to earn interest are either:
- Debit Card Spend: Spend $500 per month with Bluevine Business Debit Mastercard® issued by Coastal Community Bank pursuant to a license from Mastercard inc, which can be used everywhere Mastercard® is accepted.
- Incoming Payments: Receive $2,500 per month in customer payments into Bluevine Business Checking account via ACH, wire transfer, mobile check deposit, or directly from merchant payment processing provider
Access to your cash
You can access your cash at over 37,000 MoneyPass locations nationwide without paying a fee.
Users can deposit checks using the mobile app and pay vendors and bills by ACH, wire transfers or checks, with the ability to schedule one-time or recurring payments to manage your invoices more easily.
Account holders also get two free checkbooks, a perk for those who prefer to pay with paper checks.
Perks
Unlike many checking accounts, you can earn a higher-than-average APY. Bluevine Standard and Plus can earn intereston balances up to $250,000; Bluevine Premier can earn interest on balances up to $3,000,000. This is the only account on Select's best business checking accounts list that yields interest.
Customers can connect their account to business tools like PayPal, Stripe and Expensify to better manage their money.
Fees
Bluevine does not require a minimum deposit to open an account and does not charge any monthly fees, insufficient funds fees or incoming wire fees.
To deposit cash into your account at Green Dot®retail locations you will be charged $4.95. Outgoing wire transfers are $15 a transfer.
By using in-network ATMs, you can avoid paying ATM fees. At out-of-network ATMs fees are determined by the owner and Bluevine does not provide reimbursem*nts of out-of-network ATM fees.
Bottom line
Bluevine Business Checking is a great option for small businesses because of its limited fees, and it accrues interest on your balance up to $250,000. This account is the only one on Select's list of best business checking accounts that yields interest on your balance.
For small business owners who prefer in-person banking services and make a lot of cash deposits, the Bank of AmericaBusiness Advantage Relationship Banking will be a better fit.
If you are a medium-to-large business owner, the Capital One Business Enhanced Checking with Capital One account is worth a look. The account offers unlimited business transactions and in-person banking services.
Read more
The best business checking accounts for solo entrepreneurs, small biz owners and more
Manage multiple employee debit cards with this Chase business checking account
Our methodology
To determine which business checking accounts offer the most convenience, Selectanalyzed dozens ofU.S. business checking accountsoffered nationwide by online banks as well as those with physical branches. We narrowed down our rankings by considering no-fee checking accounts or accounts with easy ways to waive the monthly maintenance fees.
We compared each checking account on a range of features, including:
- Fees
- Minimum balance requirement
- Mobile banking ease
- Small business tools and support
- Large ATM network
- Account accessibility
- Customer reviews, when available
All of the accounts included on this list are either members of theFederal Deposit Insurance Corporation (FDIC)or FDIC-insured through partner institutions. This insurance protects and reimburses you up to your balance and the legal limit in the event your bank or credit union fails.
The rates and fee structures for checking accounts are subject to change without notice and they often fluctuate in accordance with theprime rate.
Your earnings depend on any associated fees and the balance you have in your checking account. To open an account, some banks and institutions may require a deposit of new money, meaning you can't transfer money you already had in an account at that bank.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
