Bluevine Business Checking Account review
In this Bluevine Business Checking Account review, you will learn how it works and the advantages and disadvantages of opening one.
by Aline Augusto
Unlimited transactions with no monthly fees or minimum balances
Bluevine is a financial technology company that offers smart banking solutions for small businesses. It was founded in 2013 with the valuable objective of supporting and helping small businesses to thrive.
Besides the checking account, Bluevine provides lines of credit, Bill Pay options, and a resources center to help you understand its products and services.
The range of offerings features low prices and a long list of benefits. Then, keep reading to learn how the checking account works and the advantages and disadvantages of opening an account.
How does the Bluevine Business Checking Account work?
Firstly, you must know that Bluevine is not a bank, although it offers banking solutions for small businesses. However, its deposits are FDIC-insured through the bank Coastal Community.
Today, we will review the checking account offered by this financial technology company.
So, the account gathers a list of benefits at a very low cost. The objective is to help small businesses to grow and overcome obstacles.
Therefore, the account doesn’t have monthly or overdraft fees. Also, it allows you to make unlimited transactions.
In addition, it doesn’t require a minimum deposit to open or minimum balances.
And if you meet a monthly activity goal, you can earn 1.5% interest on balances of up to $100,000.
The activity goals include $500 of monthly spending with a Bluevine Business Debit Mastercard and $2,500 monthly receiving in customer payments.
Furthermore, the user experience is fantastic. The platform is easy-to-use, and it offers a digital space with all you need in one place.
Through the platform, you can access different Bill Pay options, organize your finances with multiple sub-accounts, and securely share access with your team.
Finally, Bluevine doesn’t charge any in-network ATM fees and offers two free checkbooks per year.
Bluevine Business Checking Account benefits
In case you have been wondering if there was a checking account for small businesses that don’t charge high fees, you have just found one.
A Bluevine account doesn’t charge monthly or overdraft fees and offers a digital platform full of benefits, including unlimited transactions, no minimum balances, high-yield interest earnings (conditions apply), and access to many options for better financial management.
- The checking account doesn’t charge any monthly or overdraft fees;
- It doesn’t require minimum balances;
- It offers unlimited transactions with plenty of Bill Pay options;
- It lets you earn 1.5% interest on your balance of up to $100,000 if you meet monthly goals;
- The account allows access for your team;
- You can organize your finances through sub-accounts;
- The deposits are FDIC-insured;
- There are no in-network ATM fees;
- It provides two free checkbooks per year;
- The platform is easy-to-use, safe, and gathers security features, including two-factor authentication.
- You can’t access physical branches;
- To earn interest, you must meet certain requirements.
How good does your credit score need to be?
Opening an account at Bluevine requires you to provide some information about yourself and your business. Therefore, your creditworthiness will be checked, but it is not the only factor in a decision.
So, although Bluevine doesn’t disclose this information, probably all credit scores are considered in the application.
How to apply for a Bluevine Business Checking Account?
If you have a small business and are struggling with choosing a good checking account for it, check out how easy it is to apply for a Bluevine Business Checking Account by reading our next post!
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