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

This free, high-yield business account is well-suited for small-business owners who prefer to manage their finances online.
Randa Kriss
Kelsey Sheehy
By Kelsey Sheehy and  Randa Kriss 

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Our Take

5.0

NerdWallet rating 

The bottom line:

An industry-leading APY with no minimums or monthly fees make Bluevine a solid option for online business checking, but business owners who deal in cash may find the deposit limits and fees off-putting.

Bluevine Business Checking

Checking

Deposits are FDIC Insured

Monthly fee
$0
APY
2.00%
With $0 min. balance for APY
Learn more

at Bluevine

Pros & Cons

Pros

  • No monthly fees or minimum opening deposit.

  • Unlimited fee-free transactions; no overdraft fees.

  • Earn 2.00% interest on account balances up to and including $100,000. Terms apply.

  • No fees at MoneyPass ATMs; cash deposits via Green Dot network (fees and limits apply).

Cons

  • Cash deposits limited to $500 per deposit, $2,000 per day. Service fee of up to $4.95 per deposit.

  • Fee for using out-of-network ATMs.

  • No joint accounts.

How does Bluevine compare?

Current Product

Bluevine Business Checking

Bluevine Business Checking

Deposits are FDIC Insured

Novo Business Checking

Novo Business Checking

Deposits are FDIC Insured

NerdWallet rating 

5.0

/5
NerdWallet rating 

5.0

/5
NerdWallet rating 

4.5

/5

Monthly fee 

$0

Monthly fee 

$15.00

Waived with $2,000 minimum balance

Monthly fee 

$0

APY 

2.00%

With $0 min. balance for APY

APY 

N/A

APY 

N/A

Bonus 

N/A

Bonus 

$300

Requirements to qualify

Bonus 

N/A

Full Review

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. Bluevine’s business account earns 2.00% interest on balances up to $100,000 — one of the best rates available from a business checking account. And unlike the majority of online-only accounts, Bluevine account holders can make cash deposits, albeit for a fee.

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

Monthly fee:

$0.

Minimum opening deposit requirement:

$0.

APY:

2.00% on balances up to and including $100,000. Terms apply.

Transactions:

Unlimited.

Bonus:

None.

Bluevine Business Checking
NerdWallet rating 

at Bluevine, Deposits are FDIC Insured

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 $100,000, 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 by earning a 2.00% annual percentage yield on all balances up to and including $100,000. 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. 

No weekend support: Bluevine has extended customer service hours during the week (8 a.m. to 8 p.m. Monday through Friday), but there is no phone support available on the weekend. While Bluevine does have a robust help center online, business owners who need live support could be left waiting for days. If you desire ‘round-the-clock customer service, consider Axos Business Checking, which offers 24/7 customer service (but does not earn interest).

at Bluevine, Deposits are FDIC Insured

Frequently asked questions