Score 9.8
Regulation FDIC
Bluevine Card
Score 9.8
Regulation FDIC

What is BlueVine Business Banking?

BlueVine is a fintech company that facilitates business banking, but it’s not a bank. All BlueVine deposits are fully insured by the FDIC ($250K), through Coastal Community Bank. This financial technology company caters to small businesses by providing cutting-edge business banking solutions. By focusing on credible, efficient, and easy-to-use solutions, BlueVine has carved a niche for itself in the business banking arena. Today, thousands of businesses utilize the services of BlueVine, founded in 2013. At the time of writing, BlueVine has delivered $5 billion worth of funds to clients globally, with no signs of slowing down.

Led by a top-tier team of professionals including CEO Eyal Lifshitz, CTO Nir Klar, and General Counsel Sharon Carmeli, this established enterprise has built up a formidable client base. The list of investors includes Lightspeed, Menlo, 83North, Citi, SVB, M2, and ION. The company is located in three locations across the United States, including Redwood City, CA, and Jersey City, NJ. Among others, BlueVine offers Business Checking Services, Paycheck Protection, Business Loans, and Bill Pay. It is easy to get in touch with support through the help center, with FAQs, telephone (Monday through Friday), email, et al.

BlueVine is ideally suited to small businesses, freelancers, consultants, and self-employed individuals (partnerships, corporations, sole proprietorships).

Key Details

Founded:
2013
Headquarters:
USA
Users:
400,000+
Regulation:
FDIC
Rating
BlueVine Key Details
Founded: 2013
Headquarters: USA
Users: 400,000+
Regulation: FDIC

BlueVine Account Pros & Cons

Pros
  • green-check-mark Zero Non-Sufficient Fund Fees
  • green-check-mark Zero Monthly Fees
  • green-check-mark Zero Minimum Balance
  • green-check-mark Unlimited Transactions
  • green-check-mark Zero Early Repayment Penalties
  • green-check-mark Professional Customer Support
  • green-check-mark Eligible customers receive 1.5% interest
    on Balance up to $100K
  • green-check-mark Credit Lines up to $250K
Cons
  • Only Available for Business Clients
  • Standard Late Penalty Fees
  • $15 Fee for Outgoing Wires
  • No Savings Account Options
  • No Land-Based Branches Available
  • Customer Service Limited to Mon-Fri

BlueVine Banking Features

BlueVine offers many unique tools and resources for small businesses. These include checking accounts with no monthly fees, and flexible funding solutions to borrow money in a way that suits your needs. With no monthly non-sufficient fund fees charged, a zero minimum balance, and unlimited financial transactions, BlueVine is certainly competitive with the best of them.

Plus, in an era of low-interest rates, they offer eligible customers 1.5% interest balances up to $100,000. Businesses that qualify can enjoy credit lines up to $250,000, and you only pay for the credit you use. Clients do not need to concern themselves with early repayment penalties. When approved for loans, they may be deposited into your account within 24 hours. The following features are readily available through this FinTech corporation:

Business Checking Services

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The BlueVine business checking options come with zero monthly fees. Professional live support is available, and clients can enjoy unlimited deposits and withdrawals. With no hidden fees, no monthly fees, and no NSF fees, this FinTech company stands out in the crowd. And the business checking services present better banking options with 1.5% interest on balances up to $100,000. With BlueVine, clients are assured of 0$ ATM fees at 37,000+ national MoneyPass locations. Plus, you will also receive 2X checkbooks per annum for funded accounts at no cost.

The BlueVine business banking solutions make it easy to run your business like a business. Better yet, you can easily pay vendors, utility bills, suppliers, and other creditors with checks, bank wires, or ACH. It is easy to transfer funds between your accounts with BlueVine. Whether you have once-off or recurring payments that need to be made, this is easily done with a scheduling feature. In the unlikely event that your card is misplaced or stolen, you can easily lock it online through the app. BlueVine deposits are guaranteed safe and secure with FDIC insurance up to $250,000, through Coastal Community Bank (member FDIC).

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Better Business Management

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BlueVine distinguishes itself from the competition through its operations. Among others, clients have intuitive control over all aspects of their account with quick and easy balance views, check deposits, and transfers through the app. If you need to reach out to customer support, this is easily done via email or telephone. Best of all, the account registration process can be completed in minutes, and clients can be up and running in a flash.

Business Lines of Credit

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BlueVine offers revolving lines of credit to all legally operating businesses in the US. You are only charged for what you use. Credit lines up to $250,000 are available, with rates starting at 4.8%. Rapid approvals in 5 minutes are possible, provided the right information is presented. Applying for a business line of credit does not affect your credit score. The 4 step process for credit applications begins with an online application, a request for funds, repayments, and access to additional funds as you pay off your balance. A minimum credit score of 600+ FICO is required, with business operations of at least 6 months, and $10,000 in monthly revenues.

Bill Pay Options

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BlueVine’s Bill Pay options are designed to make it easy to pay your bills online, with no complications. There are no monthly fees incurred with Bill Pay options, and it’s quick and easy to schedule payments at your leisure. Access 40,000+ registered payees, or add your own. Choose your preferred payment option such as check, credit card, Bank Wire, or ACH, and determine how/when the vendors will receive payment. Same-day transfers are possible with Bill Pay. Customers can easily add, track, and manage bills on the BlueVine Dashboard. New features include Inbox, which allows users to keep track of multiple payments in one window; and Recurring Bills, which lets users set up recurring payments that are easy to manage and track.

BlueVine Business Debit Card

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The BlueVine business debit card is available for use anywhere that MasterCard is accepted. You can withdraw your cash at 37,000+ ATM MoneyPass locations. The 4 step process to using the business debit card requires you to activate the card, add funds to your card, enjoy mobile checking options, and have peace of mind with watertight security protocols in place. Clients can activate the debit card telephonically, from the profile & settings page, or the app. You can add funds to your account through a Green Dot® location nationwide, transfer from your checking account, or deposit a check through mobile.

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Account Access

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Account Access is a new way to manage access levels. By now, every customer can log into their business account and see what level of access they have granted others. With this feature, customers can now manage all those access levels in a single location, making it easy to see who has access to which functions.

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QuickBooks Integration

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BlueVine’s QuickBooks integration gives customers the ability to sync bills, transactions, and payees between the two platforms. Users can also sync payments, balances and schedules to the QuickBooks database.

Plans & Pricing

BlueVine pricing ranks among the lowest in the industry. Consider the following:

  • There are unlimited monthly transactions.
  • Clients receive up to 2 complimentary checkbooks annually.
  • There are no monthly fees, minimum balance fees, minimum deposit fees, overdraft fees, NSF fees, bill pay fees, incoming ACH/outgoing ACH fees, no depositing check fees, no paper check fees, no incoming wire transfer fees, and no in-network ATM fees.
  • However, clients will be charged a $15 outgoing wire fee, $2.50 out-of-network ATM fee, and $30 per shipment debit card replacement with express shipping.
  • Bill pay with credit card transaction fees amount to 2.9%, and there is a cash deposit fee of $4.95 for each deposit.

BlueVine is all about saving money for small businesses. That’s why this mobile banking solution for businesses offers unlimited monthly transactions with no minimum deposits, no in-network ATM fees, no NSF fees, and no incoming wire transfer fees. Granted, you will be required to pay $4.95 for each cash deposit you make. Plus, there are $15 outgoing wire transfer fees and $2.50 out-of-network ATM fees to consider. You can also use your BlueVine debit card online, or in-store for free.

FAQ

What do I need to open a BlueVine Business Account?

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The BlueVine business checking account application process requires the following information from clients:

  • Your Email Address
  • Your First Name and Your Last Name.
  • The type of business you are running (Corporation, General Partnership, LLC, LLP, Limited Partnership, or Sole Proprietorship).
  • Your Telephone Number.
  • A Secure Password.
  • Acceptance of the T&C and the Privacy Policy at BlueVine.

Once you provide this basic information, you will be required to provide additional information on your business. This includes your business name, trading name, business address, work telephone number, annual revenue, the industry you operate in, your tax ID or EIN (employer identification number), and specific biographic information about yourself including SSN, ID, DOB, address, business ownership interests, driver’s license, et al.

Will BlueVine run a hard credit check on me for a line of credit?

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As part of the eligibility and qualifications for BlueVine lines of credit, you must be a business in operation for at least 6+ months, with $10,000 in monthly revenue, and a personal FICO score of at least 600.

What are the Benefits of BlueVine Business Checking?

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BlueVine Business Checking there is a zero monthly charge, with no fees on incoming wires, and no NSF fees. Plus, clients will receive 1.5% interest on balances up to $100,000, and there are free ATM in-network withdrawals at 37,000+ locations where the MoneyPass Network is supported. FDIC insurance up to $250,000 is provided on all accounts, through the Coastal Community Bank.

Our Verdict

BlueVine is an impressive Business Banking Solution for clients to consider. The low-fee structure is particularly alluring, given the high costs that businesses typically have to contend with through traditional banks. We’ve thoroughly researched the pros and cons of this business banking solution, and it compares favorably with the best of what’s out there. We read the reviews and conducted our research.

The business checking, business loans, bill pay, and other resources are worthwhile. The 0.6% interest on balances up to $100,000 is up to 50X greater than the standard interest rate you can receive at US banks today. There are cash deposit fees of $4.95 and outgoing wire fees of $15 to contend with. Otherwise, all of the benefits you receive, such as the BlueVine MasterCard debit card and access to tens of thousands of ATMs across the country is attractive.

User Reviews

5/5
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Great experience with app and bank. Mobile check deposits are a breeze. App is fast and responsive in Android 10. Keep up the good work Bluevine!

By Darin Redding Sept, 2021
4/5
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I love this app and company. I can’t give 5 stars only because it never let’s me sign in with finger print.

By TeeAirRah Aug, 2019