Bluevine, a neobank targeting the SME/Small business sector, is touting its business checking plans that actually generate interest for account balances.
Bluevine’s APYs range from 2% to 4.25% – depending on the balance. Also, Bluevine offers FDIC insurance up to $3 million.
Broken out by specific plan, the Standard offers 2% APY on balances up to $250,000, Plus Plan offers 3% APY on balances over $20,000. And the Premier plan offers 4.25% on balances of $100,000 or more.
Obviously, there are other details on the various plans.
Bluevine co-founder and CEO Eyal Lifshitz says that after three years of offering business checking in the US they are managing over $1 billion of deposits.
“Now, we’re bringing small businesses even more of the products, services, and overall benefits that traditional banks have long reserved for large corporations. With the option to choose from three different plans, SMBs have even more ways to maximize the return on their deposits and slash fees with the package that best matches their specific needs and business activity,” says Lifshitz.
Bluevine provides banking services in partnership with Coastal Community Bank. The FDIC insurance, which is capped at $250K per account, is enabled via their “program banks,” which are listed here.
