Fintech Bluevine Launches Business Banking Plan Offering 4.25% APY on Up to $3M in FDIC-Insured Deposits

Bluevine, the digital banking platform specifically designed for small businesses, announced the launch of Bluevine Premier giving business owners the opportunity “to earn 4.25% Annual Percentage Yield (APY) on their Bluevine Business Checking balances up to $3 million, plus 50% off most standard payments fees, priority access to customer support, and more.”

Bluevine Premier customers also “continue to enjoy all the benefits and capabilities that come with Bluevine’s standard plan, including FDIC insurance coverage of up to $3 million (12x the industry standard of $250,000), free standard ACH payments, automated accounts payable, unlimited transactions, international payments, free QuickBooks Online sync, and more.”

Designed for companies with balances greater than $100,000, Bluevine Premier provides a high-yield interest rate “that would typically require business owners to move funds into separate savings or brokerage accounts to achieve.”

Additionally, Bluevine Premier brings “to small businesses some of the commercial offerings big banks reserve for large corporations, such as discounted fees on same-day ACH and outgoing wires as well as priority customer support.”

Bluevine Premier customers are also provided with up to 20 checks per month that can be printed and mailed, at no cost, “from the convenience of their online dashboard or mobile device.”

Charles Amadon, SVP and GM of Banking at Bluevine, said:

“Business owners deserve more for their money when it comes to banking, and the old tradeoffs don’t necessarily need to apply. Our customers have been clear with us—they’d love to earn a high-yield interest rate on their deposit balances without being forced to lock up funds in a CD or money-market fund that would reduce cash flow flexibility. With Bluevine Premier, business owners no longer need to park their money away in separate accounts to earn more from it. We’ve significantly upped the ante with a 4.25% APY and low payment fees typically only available to larger companies—all conveniently accessible within their everyday business checking account. We’re not just raising expectations for business banking, we’re resetting them.”

Available today, Bluevine Premier customers who “maintain a $100,000 minimum average daily balance across their Bluevine Business Checking account and sub-accounts, and spend at least $5,000 per month on their Bluevine Business Debit Mastercard® incur no monthly fee.”

Businesses that do not meet these criteria “can still benefit from Premier for a monthly fee of $95.”

Business owners can also take advantage of “a one month free trial for Bluevine Premier.”

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