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.
Pros & Cons
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).
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?
Bluevine Business Checking
Deposits are FDIC Insured
Chase Business Complete Banking℠
Novo Business Checking
Deposits are FDIC Insured
Waived with $2,000 minimum balance
With $0 min. balance for APY
Requirements to qualify
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
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
Bluevine does not offer Zelle for business, so account holders cannot accept payments via Zelle. Bluevine business checking customers can accept payment via ACH, wire transfer or through other peer-to-peer payment services like Venmo or Cash App. Looking for a business account that offers Zelle for business? Consider Bank of America, U.S. Bank or Chase Business Complete Banking.