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Home / Banking / Business / BlueVine Business Banking Review

BlueVine Business Banking Review

Updated: April 9, 2023 By Robert Farrington

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Bluevine Business Banking Review

Business checking is often equated with fees. For the most part, that is true. Banks like to hit small business owners with fees from every angle.

It can be difficult to find a bank that has free business checking or, at the least, very low fees. But if you want to keep your business banking costs low, you don’t have to look very far because BlueVine Business Checking fits the bill.

BlueVine doesn’t have all of the fees that are charged by other banks. Do you have a small business and keep a small checking balance? That’s not a problem with BlueVine because there aren’t any minimums or monthly account fees. In this article, we go through everything BlueVine Business Checking has to offer.


Bluevine Review

Quick Summary

  • No monthly service fees or NSF fees
  • No minimum deposit or balance requirements
  • Competitive interest rates for accounts
OPEN AN ACCOUNT

BlueVine Details

Product Name

BlueVine

Min Deposit

$0

APY

2.00% 

(On Balances Up To $250,000)

Account Types

Business Checking And Loans

Promotions

None

Table of Contents
Who Is BlueVine?
What Do They Offer?
Are There Any Fees?
How Do I Open An Account?
How Does BlueVine Compare?
Is My Money Safe?
How Do I Contact BlueVine?
Is It Worth It?
BlueVine FAQs
BlueVine Features

Who Is BlueVine?

BlueVine Capital Inc. was founded in 2013 and is based in Redwood City, CA. Its CEO is Eyal Lifshitz. Bluevine has an A+ rating from the Better Business Bureau® and a 5 out of 5 star rating from Trustpilot. So far, they’ve helped small businesses secure over $9 billion in financing. They’ve raised $767.5 million across 15 funding rounds.

“Our platform was designed specifically for business owners who are looking to take their business growth to the next level but need flexible working capital support to get there,” Lifshitz said to CrowdFundInsider. “By making working capital financing fast, easy and flexible for business owners, we’re delivering on our mission – to expand access to capital for small business owners.”

What Do They Offer?

BlueVine provides business checking with no hidden fees and no minimums to open an account. Check out our favorite business checking accounts for small businesses.

Interest-Bearing Checking Without The Fees

With BlueVine, you’ll earn 2.00% APY on balances up to $250,000. You’ll also have unlimited transactions.

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
BlueVine checking review

There are no fees such as monthly maintenance or NSF (not sufficient funds) fees that are charged by so many other business checking products. 

Sub-Accounts

Do you like to use the Profit First business banking system? If so, you can use sub-accounts with Bluevine. You can add up to 2 sub-accounts to your BlueVine Business Checking account, giving you flexibility and control in how you manage your business.

Multiple Ways To Pay Vendors

Included with your account are a debit card and bill pay. You can pay vendors as a one-off transaction or set up recurring payments.

You don’t have to worry about running out of checks with BlueVine because you’ll get two checkbooks. Support for credit card payments is also currently in beta.

ATMs

BlueVine has you covered with ATMs. By staying in-network, you won’t be charged any fees and will have access to over 38,000 ATMs via the MoneyPass® network. 

If you decide to use an out-of-network ATM, you may be charged a fee by the ATM owner. Your Debit/ATM card is part of the Mastercard network. If your card is stolen, you can use the mobile app to lock it immediately.

Cash And Check Deposits

Check deposits can be made through the BlueVine mobile app. If you need to deposit cash, you can use a Green Dot retail location but a $4.95 service fee will apply.

Business Loans

BlueVine offers a business Line of Credit.

BlueVine's Line of Credit, meanwhile, has a maximum credit limit of $250,000. Rates start at 4.8% and approvals can be as fast as 5 minutes.

You can apply for a BlueVine business loan here >>

BlueVine business line of credit

Are There Any Fees?

While you’ll have to make an effort to incur fees with BlueVine, they do have three that you'll want to be aware of:

  • Expedited debit card replacements: Undisclosed fee
  • Cash deposit fees at Green Dot® retail locations: $4.95
  • Wires: $15

How Do I Open An Account?

You can visit the BlueVine website to open an account. BlueVine boasts that their streamlined account sign-up process won't take you longer than 60 seconds.

How Does BlueVine Compare?

BlueVine is definitely not the only business checking account around. However, they've made it onto our best business checking account list because of their low fees and ability to earn interest.

See how they compare to these options here:

Header
Bluevine Comparison
Bluevine Comparison: Novo
Bluevine Comparison: LendingClub Bank

Rating

APY

2.00%

N/A

Up to 1.50%

Monthly Fees

$0

$0

$0

Min Deposit

$0

$0

$100

ATM Access

38,000 Free ATMs

Unlimited

Unlimited

FDIC Insured

Cell
OPEN ACCOUNT
READ THE REVIEW
READ THE REVIEW

Is My Money Safe?

Yes, funds deposited with BlueVine are FDIC-insured to at least $250,000 through Coastal Community Bank.

How Do I Contact BlueVine?

Just because BlueVine doesn’t have branches doesn’t mean they don’t provide good customer service. You can reach them by email or phone at 888-216-9619. Their hours are Monday through Friday, 8am to 8pm (ET) and Saturday, 12pm to 4pm (ET).

BlueVine's Truspilot rating is 4.4./5 (Excellent) out of more than 6,500 customer reviews. It's also an accredited business with the Better Business Bureau (BBB) and has an A+ BBB rating.

Is It Worth It?

Yes, BlueVine comes with all of the features you’d expect from a business checking account while refusing to charge many of the common fees that other banks do. 

Avoiding fees with any kind of banking service is just smart business. But if you're looking for a bank that offers physical branches and in-person customer service, you may want to look into other low-cost business checking account options.

BlueVine FAQs

Here are a few of the questions that people ask most often about BlueVine:

Does BlueVine allow you pay to vendors with a credit card?

Yes, BlueVine customers can pay over 40,000 registered payees with a credit card to maximize their rewards. Note that this feature is still in beta.

Is BlueVine a good banking option for international business owners?

No, BlueVine is only available in the U.S. and territories (Puerto Rico, Guam, US Virgin Islands, American Samoa) and can't accept international wire transfers.

Does BlueVine give bonuses to new customers?

No, BlueVine isn't currently running any sign-up promotions or bonus offers.

BlueVine Features

Account Types

  • Business checking
  • Business loans

Minimum Deposit

$0

APY

2.00% (on balances up to $250,000)

Monthly Fees

$0

Wires

$15

NSF

$0

Branches

None (online-only bank)

ATM Availability

38,000 fee-free ATMs via the MoneyPass® network

Remote Check Deposits

Yes

Cash Deposits

Yes, at Green Dot locations; but a third-party service fee of $4.95 will apply.

Customer Service Number

1-888-216-9619

Customer Service Hours

Mon-Fri, 8 am to 8 pm (ET)

Sat, 12 pm-4 pm (ET)

Mobile App Availability

iOS and Android

Web/Desktop Access

Yes

Bill Pay

Yes

FDIC Certificate

34403

Promotions

None

BlueVine Review
  • Fees and Charges
  • Products and Services
  • Customer Service
  • Ease of Use
  • Tools and Resources
Overall
4.4

Summary

BlueVine is an online bank offering business checking accounts that don’t charge monthly service fees and pay up to 2.00% APY on deposits.

Pros

  • No monthly service fees or minimums
  • 2.00% APY on balances up to $100,000
  • Access to over 38,000 fee-free ATMs
  • Two free checkbooks

Cons

  • No physical branches
  • $4.95 fee for cash deposits
  • Learn More
Robert Farrington
Robert Farrington

Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page or on his personal site RobertFarrington.com.

He regularly writes about investing, student loan debt, and general personal finance topics geared toward anyone wanting to earn more, get out of debt, and start building wealth for the future.

He has been quoted in major publications, including the New York Times, Wall Street Journal, Washington Post, ABC, NBC, Today, and more. He is also a regular contributor to Forbes.

Editor: Clint Proctor

Bluevine Business Banking
Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entities.
Comment Policy: We invite readers to respond with questions or comments. Comments may be held for moderation and are subject to approval. Comments are solely the opinions of their authors'. The responses in the comments below are not provided or commissioned by any advertiser. Responses have not been reviewed, approved or otherwise endorsed by any company. It is not anyone's responsibility to ensure all posts and/or questions are answered.
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