bluevine Business Online Banking Review
Bluevine is a financial technology company that was founded in 2013 and has its headquarters in Redwood City, CA. Banking services through Bluevine are provided by Coastal Community Bank. Its primary focus is providing banking services to small businesses. Bluevine’s main selling point is traditional banks have underserved small businesses, and Bluevine is here to provide them with the banking services and support that big companies receive from traditional banks and take for granted. Their differentiator is their high-yield checking account with no monthly fees.
Bluevine’s online banking administers a limited number of services, which a third party provides: Coastal Community Bank, an FDIC member.
|Bank Account Types||Checking|
|APY Checking||2% on account balances up to $100,000|
|ATM Network||MoneyPass Network and Green Dot Network|
|Features, Benefits & Rewards||
|Other Fees||$15 for outgoing wire transfers, $4.95 per deposit at Green Dot network locations|
Bluevine is best for tech-savvy small businesses that want a business banking relationship, not just business banking services. The company provides small business clients with the attention and service usually reserved for large companies and organizations.
Pros & Cons
- No fees, no minimum opening deposit or balance requirements
- Unlimited fee-free transactions
- 2% interest credited on account balances up to $100,000
- Fee-free ATM access for withdrawals through MoneyPass
- No joint accounts
- No physical banking locations
- A deposit fee of $4.95 per deposit at Green Dot locations
Blueline offers only business checking accounts. They do not offer savings accounts, Certificates of Deposit (CD), Money Market Deposit Accounts (MMDA), or any other type of business bank account.
In addition to offering business checking accounts, Blueline also provides small businesses revolving lines of credit and bill pay services.
|Account Type||Key Features|
|Line of Credit||
Opening an Account With Bluevine
Opening an account is done online through the company’s website. It is a simple, four-step process:
- Step 1: Online Account Setup/Password Creation
- Step 2: Business Information
- Step 3: Personal Information
- Step 4: Applicant Verification
Bluevine currently operates in all 50 states and the District of Columbia.
Bluevine provides a toll-free number on its website for customer support and the choice to communicate with them via email for non-urgent issues. We inquired by email about opening a business checking account and heard back from Bluevine within two hours.
Bluevine representatives are human beings, not bots. We called customer service, and after having to make just two menu choices, we were connected with a live representative. Their reputation for solving customer and prospective customer problems is excellent.
|Phone Support||Monday: 8 am to 8 pm ET
Tuesday: 8 am to 8 pm ET
Wednesday: 8 am to 8 pm ET
Thursday: 8 am to 8 pm ET
Friday: 8 am to 8 pm ET
|Social Media||Facebook: https://www.facebook.com/bluevinecapital
|Headquarters||401 Warren Street
Redwood City, CA 94063
Bluevine employees are responsive, and the company has branded itself very well through its website and social media. Its major selling points are its personal service for small businesses, competitive interest rates, and lack of business checking account fees. There are no glaring drawbacks to doing business with Bluevine.