Bluevine Business Checking: A High-Yield Account for Business Owners

No fees and unlimited transactions are table stakes for online business checking accounts, but Bluevine ups the ante with its free high-yield business account with one of the best interest rates available from a business checking account: Earn 2.00% interest on account balances up to and including $250,000. Terms apply.

Bluevine, a financial technology company, launched in 2013 and began offering business checking in 2019. Its banking services are provided by Coastal Community Bank, and all accounts are insured by the Federal Deposit Insurance Corp. up to $250,000.

Bluevine business checking is best for small business owners who:

• Want a free business checking account that earns interest.

• Prefer to manage the majority of their finances online.

• Only need one business debit card.

• Don’t need access to a physical branch.

Bluevine business checking at a glance

How to open a Bluevine business checking account

You can open a Bluevine business account online or via the Bluevine app. Bluevine business checking is available to business owners in all 50 states and the District of Columbia. To be eligible, you must be at least 18 years old and a U.S. citizen or a resident with a valid U.S.  address (not a P.O. Box). Certain types of businesses are restricted. (Learn more here.)

What you need to open an account 

You need to provide basic details about yourself and your business to open a Bluevine business account. Applicants also need to provide certain documentation, depending on their business entity type. 

• Personal information: First and last name, home address, mobile phone number, date of birth and Social Security number. This information is required for anyone who owns 25% or more of the company.

• Business information: Business name, entity type, physical address and phone number. You also need to indicate your annual revenue, industry and EIN or tax ID. 

• Required documentation: This varies by business type but can include articles of incorporation, certificate of formation, Doing Business As (DBA) documentation and/or partnership agreements.

Bluevine business checking applications are typically reviewed within three business days. Once approved,  you can activate your account, order your Bluevine debit card and fund your account.

How to earn interest with Bluevine business checking

Bluevine business checking accounts earn 2.00% APY on balances up to and including $250,000, provided you meet either of the two monthly requirements:

• Spend $500 with your Bluevine business debit card.

• Receive $2,500 in customer payments into your Bluevine business checking account via ACH transfer, wire transfer, mobile check deposit or directly from your payment processor.

Where Bluevine business checking stands out

No fees: The Bluevine business bank account has no monthly fees, nonsufficient funds fees or ACH payment fees, as well as no minimum opening deposit, monthly or daily requirements. In addition, this account includes unlimited fee-free transactions and fee-free ATM access at any MoneyPass location across the U.S.

High-yield APY: Bluevine business checking rivals some of the best business savings accounts with it's high APY:Earn 2.00% interest on account balances up to and including $250,000. Terms apply. And unlike most interest-earning accounts, it does not require that you maintain a daily or monthly minimum balance to do so. You will, however, have to meet either the debit card or customer payment requirement to earn interest.

Online banking tools: The Bluevine business checking account includes all of the tools that you need to streamline your finances, including mobile check deposit and recurring and one-time payments. You can also sync transactions to accounting software, including QuickBooks Online, Wave and FreshBooks. In addition, you can connect to third-party tools such as PayPal, Stripe and Expensify.

Where Bluevine business checking falls short

Fees, low limits for cash deposits: While Bluevine customers can make cash deposits at Green Dot locations, you’ll get hit with a $4.95 fee (from Green Dot) for each deposit. And Bluevine has some pretty stingy limits, too: $500 per deposit and $2,000 per day. If your business makes frequent cash deposits, consider an NBKC business account or LendingClub Tailored Checking, which offer unlimited cash deposits, for no fee, via compatible ATMs.