BlueVine Reviews 2022: Features & Alternatives

Bizreport - Bailey Schramm
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Reviewed by Randolph Vialva, MBA
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BlueVine.
Editor Rating:
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  • Cost Value
  • Customer Service
  • Ease of Use
  • Included Features

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BlueVine is a financial services company offering lines of credit and free business checking accounts, being a great option for start-ups and small businesses.

Pros

  • Quick lending decisions 
  • Multiple term lengths
  • Low credit score requirements
  • Good for start-ups and new businesses

Cons

  • May require weekly repayment
  • Personal guarantee
  • Not available in all states
  • High rates
  • No monthly service fee
  • BlueVine business banking account
  • BlueVine line of credit

Bluevine is a financial technology company, not a bank, that offers a business lines of credit of up to $250,000.

BlueVine Review.

BlueVine is a financial technology company, not a bank, that offers business lines of credit of up to $250,000. This is an option for small business owners needing short-term working capital, which is issued by Celtic Bank, a Utah-chartered industrial bank and member of the FDIC. 

Bluevine’s application process is simple and allows business owners to connect to their business checking accounts and get decisions within minutes. BlueVine also offers business checking accounts, though this is not a requirement when applying for financing through them.

BlueVine Advantages

Let’s take a look at some of the top advantages that BlueVine provides to a small business owner looking for financing. 

Quick funding

One of the main advantages of working with BlueVine is that they make funding decisions very quickly–usually in a few hours. The application process is also brief, and should only take a few minutes to complete. 

Earn 1.5% interest with BlueVine Business Checking

A benefit of BlueVine business checking accounts is that account holders can earn a high level of interest on their balance. 1.5% interest is a substantial amount for a bank account, which is one of the reasons why owners may open a business account with BlueVine. 

Live Support

BlueVine customer service has a live chat to help customers when they require assistance with anything related to their accounts. This is a great benefit to BlueVine customers and is not always an available feature among competitors. 

BlueVine Review: Features & Prices

With a better idea of the advantages of working with BlueVine, let’s take a look at some of the main features of their main products, including a business checking account and small business financing.  

BlueVine Business Checking

  • No monthly fees
  • No minimum balance requirement
  • No account closure fees
  • Unlimited transactions
  • High-yield interest
  • Add Sub-accounts

Customers who have a BlueVine business checking account can enjoy no overdraft fees, and unlimited transactions and eligible customers can earn 1.5% on the balance. It’s a free checking account, with no monthly fees or minimum balance. Many businesses checking accounts have at least some monthly maintenance fees, which the BlueVine business checking account does not have. Customers can make a cash deposit or mobile check deposit into their account, and view account balances from anywhere with the online platform. 

BlueVine Business Loans

  • Credit lines up to $250K
  • Rates as low as 4.8%
  • Decisions as fast as 5 minutes

Aside from online banking, BlueVine offers to finance to businesses in the form of credit lines. They offer this service to businesses at any stage, including those with a limited business history of just 6 months. Their flexible requirements and simple application set them apart from others, though their interest rates tend to be higher than other lending products for a small business. 

BlueVine Bill Pay

Another great service offered by BlueVine is its bill payment feature. Customers can schedule payments to never miss a bill and can pay vendors with a credit card even when that’s not an accepted form of payment.  

BlueVine Quick Overview

With all these advantages in mind, let’s take a look at the main pros of working with BlueVine.

BlueVine.

4.0 stars

Best Overall Value

  • Access to cash in just a few hours
  • Will approve small businesses just starting out
  • Low minimum credit score requirement

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Bluehost Customer Reviews

Really happy doing business with Bluevine. The credit line that they provided for me really has helped out my business a lot. I would recommend Bluevine to all my business associates and clients.

Rick

Incredible experience. This company is 5 stars and had me approved for a substantial number within 24hrs

Harvey

The full experience with Bluevine has been filled with ease. From the initial application process to withdrawing funds has been seamless.

Reginald

This was my first time ever applying for a business line of credit and I have to say my experience was more than pleasurable and exceeded my expectations … I highly recommend Bluevine over any conventional Bank!

Ceasar

BlueVine Service Review

BlueVine Review (1)

Review of BlueVine

Overall Pricing and Value
80%
80%
Cost Value
80%
80%
Customer Support
70%
70%
Ease of Use
90%
90%
Included Features
80%
80%

Let’s take one final look at BlueVine and how it may be a good match for your business needs. 

Is Bluevine Right For You?

BlueVine is primarily known for its line of credit, though they also offer a BlueVine business checking account that has no fees or balance requirements, and is a high-yield account. The BlueVine checking account and line of credit are great options for businesses just starting out and are highly affordable. 

Cost Value 

Given that BlueVine has fee-free bank accounts and does not charge a number of additional common fees, they offer great cost value to consumers. The BlueVine business line of credit charges interest that may be higher than other loan products, so this is something to keep in mind. 

Customer Service

The customer service Bluevine offers via their live chat is a great feature for account holders, which may not be available by other comparable service providers. 

Ease of Use

They have a very easy application process that can be completed in minutes, and their online platform is easy to use and navigate. It’s also easy to deposit cash and checks into the account, which is a great feature that’s convenient for many. 

Included Features

BlueVine doesn’t just offer the credit line, they also offer a number of other services like their banking services and bill payment. To deposit money, customers can make mobile check deposits, cash deposits, and view their bank statements at any time online to monitor their cash flow. 

Overall

Above all, BlueVine is a great choice for many smaller businesses given their low fees and flexible financing requirements. 

2 Top Bluevine Alternatives

Novo BankChaseBlueVine
FeeNo monthly or ATM fees, no balance requirements, $27 for NSF or returned itemsMonthly service fee $15-95, $34 NSF fee, $15 incoming wire fee; no outgoing wire fee <$5,000No monthly, nonsufficient fund fees, or incoming wire fees; $15 outgoing wire fee, $4.95 to access cash through GreenDot
ATMsUnlimited reimbursement of all ATM fees worldwide16,00037,000+ MoneyPass ATMs
Customer ServicePhone, email, or in-app messaging: Monday – Friday, 9 am – 6 pm ESTPhone, Twitter, and message center: Available Monday – Friday: 7 AM – 11 PM ET and Saturday – Sunday: 10 AM – 7 PM ETPhone and email: Monday – Friday. 8 am to 8 pm EST
Minimum Initial Deposit$50$0$0
DetailRead detailRead detailRead detail
Link

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Novo Bank

Novo Bank refers to itself as the banking solution for modern entrepreneurs. They offer business bank accounts for small business owners, entrepreneurs, and freelancers with no hidden fees. Applicants can open an account in minutes, and don’t face any deposit or balance minimums. 

Chase

Chase is an American national bank, a subsidiary of the multinational bank holding company JPMorgan Chase. They offer many perks to their business customers and a variety of checking and saving accounts for them to enjoy. 

Conclusion

BlueVine is a great choice for any small business to consider when searching for online banking services and ways to secure external financing. Their business loan products, checking account, and bill payment features are all great aspects of their business banking offerings. With flexible requirements for funding, no fees, and other perks as a merchant payment processing provider, BlueVine will continue to be a good option for start-up businesses. 

Frequently Asked Questions (FAQs)

Does Bluevine still offer invoice factoring?

No, as of December 2021, they no longer offer this service. 

What is Bluevine’s rating with the Better Business Bureau?

They have an A+ accreditation with the Better Business Bureau. 

What kind of banking services does BlueVine offer? Does this include a savings account or a personal account?

They have business checking accounts, though they don’t offer any savings accounts or personal accounts.  

Is there a business relationship between Coastal Community Bank and BlueVine?

Coastal Community Bank, a member FDIC is the partner bank for Bluevine’s checking account product. So, customers may notice the bank’s name listed on direct deposit payments.

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ABOUT THE AUTHOR

Bizreport - Bailey Schramm
Bailey Schramm
Business Writer
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Bailey Schramm is a writer based out of Jackson Hole, WY, primarily covering topics and trends in financial services, business, and the blockchain. With a background covering stock market developments for a major FinTech company, she now provides SEO and content strategy services to financial service companies and tech startups.

ABOUT THE REVIEWER

He is an organized and creative thinking sales management professional with experience in outside and inside sales in various markets. Working as freelancer in the Greater Boston Market, he moved to St. Louis and became an Account Executive, then a Sales Manager managing and coaching 12 sales reps covering a nationwide territory. He has developed his team with a combination of consultative selling and value before price coaching mindset which has won him a President’s Cup and many other financially rewarding awards at RICOH. His most recent role as a Continuous Improvement Manager provided insight into the importance of delivering a quality product in alignment with the value and reputation of his organization. It further enhances the aspect of selling on value as opposed to price.

+ 2 sources

Bizreport Advisor adheres to strict editorial integrity standards avoids using tertiary references. We have strict sourcing guidelines and rely on peer-reviewed studies, academic research. To ensure the accuracy of articles in Bizreport, you can read more about the editorial process here.

  1. Bluevine Inc. | Better Business Bureau® Profile. www.bbb.org. Accessed October 14, 2022. https://www.bbb.org/us/ca/redwood-city/profile/financial-services/bluevine-inc-1116-875531
  2. Bluevine is rated “Excellent” with 4.3 / 5 on Trustpilot. Trustpilot. Published October 13, 2022. Accessed October 14, 2022. https://www.trustpilot.com/review/bluevine.com