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bluevine Business Online Banking Review

Bob Phillips Bob Phillips Last update:

Overview

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
Minimum Deposit None
Minimum Balance None
APY Checking 2% on account balances up to $100,000
ATM Network MoneyPass Network and Green Dot Network
Features, Benefits & Rewards
  • Unlimited fee-free transactions
  • Fee-free ATM access through MoneyPass
  • Free interest-earning business checking account
  • Online account management
Other Fees $15 for outgoing wire transfers, $4.95 per deposit at Green Dot network locations

 

Best For

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

Pros

  • 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

Cons

  • No joint accounts
  • No physical banking locations
  • A deposit fee of $4.95 per deposit at Green Dot locations

Account Types

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
Business Checking
  • Unlimited transactions
  • No monthly service fees
  • 2% interest paid on balance up to $100,000
Line of Credit
  • No fees for opening, maintaining, prepayment, or account closure
  • Funds available on demand
  • Credit lines up to $250,000
Bill Pay
  • Bills, transactions, and payee information can be synced with QuickBooks Online
  • Automatically comes with Business Checking
  • Live customer support during business hours

APY

Business Checking
  • 2% on balance up to $100,000

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

State Availability

Bluevine currently operates in all 50 states and the District of Columbia.

Customer Support

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

Saturday: Closed

Sunday: Closed

Email Support Yes
Live Chat No
Social Media Facebook: https://www.facebook.com/bluevinecapital

Twitter: https://twitter.com/Bluevine

LinkedIn: https://www.linkedin.com/company/bluevine/

Instagram: https://www.instagram.com/bluevine/

Headquarters 401 Warren Street

Redwood City, CA 94063

In Conclusion

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.

Disclosure
This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.
Bob Phillips Bob Phillips
Having spent over fifteen years helping people plan their lives financially, Bob has a vast amount of knowledge concerning personal finance. During his career, Bob mastered many different financial products to help people achieve their financial goals, including life insurance, disability insurance, mutual funds, and stocks and bonds. He earned the Chartered Life Underwriter (CLU) designation and held numerous securities licenses. Bob is an internationally published poet and is now a freelance writer living in North Texas with his wife and Doberman puppy.
This review is based on the writer's personal opinion.