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Bluevine Business Checking Review: 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.
By Kelsey Sheehy, Randa Kriss
Last updated on February 21, 2024
Edited byRyan Lane
Fact checked and reviewed

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Our Take

The bottom line:

With no monthly fees, an impressive APY and increased FDIC insurance coverage, Bluevine is a solid business checking option for digital-savvy business owners who don’t make regular cash deposits.
Full review

Bluevine Business Checking

Checking
Deposits are FDIC Insured
Monthly fee
$0
APY
2.00% With $0 min. balance for APY
Learn more

at Bluevine, Deposits are FDIC Insured

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 $250,000. Terms apply.
  • Access up to $3 million in FDIC insurance with Insured Cash Sweep.
  • No fees at 37,000 MoneyPass ATMs.

Cons

  • No fee-free cash deposits. Cash deposits at Green Dot locations are capped at $2,000 per day and a service fee of up to $4.95 per deposit applies. At Allpoint ATMs that accept cash, deposits are capped at $5,500 per day and a fee of $1 plus 0.5% of the deposit amount applies.
  • Fee for using out-of-network ATMs.
  • No joint accounts or employee debit cards.

How does Bluevine compare?

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

$400

Requirements to qualify

Bonus

N/A

Full Review

No fees and unlimited transactions are table stakes for online business checking accounts, but Bluevine business checking ups the ante 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.
It’s worth noting that Bluevine is a financial technology company, not a bank. Bluevine’s banking services are provided by Coastal Community Bank, which is insured by the Federal Deposit Insurance Corp. and participates in the Insured Cash Sweep program via the IntraFi network.
Thanks to that partnership, all Bluevine accounts automatically receive up to $3 million in FDIC insurance. That extra security can offer peace of mind to small-business owners concerned about the security of their deposits after multiple bank failures in 2023.
That said, Bluevine’s account lacks a few business banking functions. Most notably: Bluevine does not support joint accounts or employee debit cards — a must for many multi-owner companies. Making cash deposits can also be cumbersome, as Bluevine uses third-party services (Green Dot and Allpoint) that come with limits and fees.

Bluevine business checking is best for small-business owners who:

  • Want a free business checking account that earns interest.
  • Have more than $250,000 in deposits and need an Insured Cash Sweep account. 
  • Prefer to manage the majority of their finances online.
  • Only need one business debit card.
Need more than one business debit card? The Grasshopper business account lets you have multiple cards. That account also currently tops Bluevine in APY (
2.25
%), though you’ll need to have a balance of at least $25,000 to hit that rate.

Bluevine business checking at a glance

Monthly fee:
$0.
Minimum opening deposit requirement:
$0.
APY:
Earn 2.00% interest on account balances up to and including $250,000. Terms apply.
Transactions:
Unlimited.
Bonus:
None.

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.

Bluevine Premier

When applying for your account, you may see the option to upgrade to Bluevine Premier. This account carries a monthly fee of $95 per month — far more than other business bank accounts with monthly fees.
But it also earns a whopping 4.25% APY, plus offers half-price domestic and international wires and same-day ACH transfers. Premier customers also get up to 20 free checks per month.
Should you upgrade? That could make sense if you’re confident you’ll consistently hit the requirements to waive the monthly fee: having an average daily balance of $100,000 and spending at least $5,000 on your business debit card each month.
Otherwise, you’ll need to figure out if the account’s benefits offset its fee in the long run. For example, if you often send international wires, paying $12.50 for each instead of $25 would offset the account fee after roughly eight transactions each month. That savings plus the additional interest could make Premier worth the extra cost to your business.

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 its 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.
Bluevine Premier, which costs $95 per month, pays 4.25% APY as of this writing.
Up to $3 million in FDIC insurance coverage: Bluevine business checking customers automatically receive up to $3 million in FDIC insurance coverage via Coastal Community Bank (Bluevine’s banking partner) and other banks in the IntraFi sweep network. This service spreads customer deposits across multiple banks — allowing business owners to gain FDIC insurance well beyond the standard $250,000 per depositor, per account — while still managing their funds through one financial institution.
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.
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NerdWallet rating

4.5/5.0  

NerdWallet rating

4.5/5.0  

NerdWallet rating

4.7/5.0  

Monthly fee

$16.00

Monthly fee

$0

Monthly fee

$0

APY

N/A

APY

2.25%

With $0 min. balance for APY

APY

2.00%

With $0 min. balance for APY

Bonus

N/A

See offer page for more details

Bonus

N/A

Bonus

N/A

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 Green Dot deposits have some pretty stingy limits, too: $500 per deposit and $2,000 per day.
Bluevine customers can now make cash deposits at Allpoint+ ATMs, too. The daily limit at these locations increases to $5,500, but you'll still pay a fee of $1 plus 0.5% of the deposit amount. You can find Allpoint+ ATMs using the ATM locator on the Allpoint network's website.
Whichever network you use, cash deposits are capped at $7,500 each 30 days.
If your business makes frequent or high-volume cash deposits, consider an NBKC business account or
LendingClub Tailored Checking
, which offer unlimited cash deposits for no fee at compatible ATMs. 
Can’t open joint accounts, issue employee debit cards: Bluevine doesn’t support joint business accounts, which could be a deal-breaker for businesses with more than one owner, such as partnerships or multi-member LLCs.
Several other accounts do support joint ownership, though, including Relay business checking, which also allows you to issue up to 50 virtual debit cards. Bluevine will only issue one business debit card, and only to the person who set up the account.
No weekend support: Bluevine has extended customer service hours during the week (8 a.m. to 8 p.m. EST 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 — though that account does not earn interest.

Learn more

at Bluevine, Deposits are FDIC Insured

Frequently Asked Questions

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