BlueVine Business Checking Review 2021

The BlueVine Business Checking Account is on Personal Finance Insider’s list of the best free business checking accounts.

Unlike most business

checking accounts
, the BlueVine Business Checking Account pays a competitive interest rate. It also allows you to deposit cash, which sets it apart from other online business accounts. There are no monthly service fees, and you can make an unlimited number of transactions for free.

Annual Percentage Yield (APY)

1% APY

  • Pros & Cons
  • Details

  • Pros
    • No minimum opening balance
    • No monthly service fees
    • Unlimited monthly transactions
    • Earn competitive interest rate on balances up to $100,000
    • No non-sufficient funds fees
    • No out-of-network ATM fees
    • No incoming wire transfer fees
    • Ability to deposit cash
    • No physical branches
    • No interest earned on balances over $100,000
    • Doesn’t reimburse any fees charged by out-of-network ATMs
    • $4.95 fee for cash deposits at Green Dot locations
    • $15 outgoing wire transfer fee
    • Earn interest on balances up to $100,000
    • Unlimited monthly withdrawals and deposits
    • FDIC Insured by partner bank, The Bancorp Bank

    How BlueVine works

    BlueVine is an online business banking platform with a checking account and line of credit. Your deposits are FDIC insured through BlueVine’s partner bank, The Bancorp Bank.

    To contact customer support, call Monday through Friday from 8:00 a.m. to 8:00 p.m. ET.

    The BlueVine app has 1.9 out of 5 stars in the Apple store, and 2.4 out of 5 stars in the Google Play store.

    Is BlueVine trustworthy?

    BlueVine doesn’t have any public controversies.

    The Better Business Bureau gives BlueVine an A+ in trustworthiness. A strong BBB grade signifies that a company advertises honestly, responds effectively to customer complaints, and is transparent about business practices.

    A great BBB grade doesn’t guarantee that you’ll have a smooth relationship with a company, though. You may still want to read online customer reviews or ask friends and family about their experiences with BlueVine.

    How BlueVine compares to similar business banking options

    We’ve compared BlueVine to two other online business banking options: Brex and Axos Bank.

    BlueVine vs. Brex

    Brex is technically a cash account, not a checking account, and you’ll get a Brex credit card rather than a debit card. So if you’re set on a debit card, you’ll prefer BlueVine.

    If you’re open to having a business credit card, though, Brex has competitive cash-back offers and discounts with certain retailers. Brex also doesn’t charge foreign transaction fees.

    BlueVine vs. Axos Bank

    BlueVine only offers a checking account, but Axos Bank also has business savings, CDs, and a money market account. However, the BlueVine checking account still pays a higher interest rate than Axos’ savings options.

    BlueVine lets you make an unlimited number of transaction each month, but Axos starts to charge you after 200 transactions.

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