BlueVine Announces General Availability of Business Banking with Checking, Payments, and Partner Integrations

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The dashboard of BlueVine enterprise banking

BlueVine Announces General Availability of Business Banking with Checking, Payments, and Partner Integrations

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Photo of BlueVine’s cellular software.

Banking resolution helps small companies simply handle and develop their cash, and now pay just about any enterprise expense

REDWOOD CITY, Calif., Oct. 27, 2020 (GLOBE NEWSWIRE) — BlueVine, the main supplier of small enterprise banking options, immediately introduced the overall availability of BlueVine Business Banking, the trade’s first built-in banking, funds, and lending resolution designed particularly for small companies. BlueVine Business Banking was launched in October 2019 and provides intuitive on-line companies and instruments that assist small companies handle their funds with an easy-to-use dashboard to deposit checks, switch funds, and now, make invoice and vendor funds. The BlueVine Business Checking product has seen speedy adoption amongst BlueVine’s prospects because the beta interval and is now out there broadly to all small enterprise homeowners.

“Now more than ever, small businesses need simple, easy-to-use financial solutions, services, and guidance that support – not nickel-and-dime – them on their path to recovery amid the pandemic,” stated Eyal Lifshitz, CEO and co-founder, BlueVine. “Over the last year, we have worked tirelessly behind the scenes to innovate and iterate on our BlueVine Business Checking product based on tremendous beta customer reception and feedback. We are thrilled to provide all small business owners with access to sign up for an account today, to help them achieve a better financial tomorrow.”

Rapid Adoption of BlueVine Business Banking
BlueVine Business Banking breaks the mould of the historically fragmented and fee-laden banking expertise for small enterprise homeowners to allow them to spend extra time specializing in their enterprise. BlueVine Business Checking at present provides 1.0% curiosity on balances of $1000 or extra (20 occasions the nationwide common).1 Better but, starting subsequent month, BlueVine will provide 1.0% curiosity with no minimal balances, as much as $100,000 enabling even the smallest companies to earn additional money.2

Additional advantages of BlueVine Business Checking consists of two free checkbooks, and zero month-to-month, ATM, NSF, and incoming wire charges. Small companies can even take pleasure in limitless transactions with no stability necessities and quick, dependable customer support. Business homeowners can apply for an account in as little as 60 seconds by sharing only a few items of details about themselves and their enterprise.3

Since October 2019, greater than 20,000 small enterprise homeowners have signed up for a BlueVine Business Banking account, together with a 15% week-over-week account registration progress since late August 2020. BlueVine Business Banking small enterprise prospects fluctuate in maturity, dimension, and annual revenues, starting from $50K to over $2M. Since launch, BlueVine Business Checking has gained over $50M in deposits throughout all checking accounts and processed practically $40M in funds and debit transactions.

Much of BlueVine Business Banking progress and innovation occurred alongside its historic participation within the Paycheck Protection Program. The firm supplied $4.5B in funding to greater than 155,000 small companies between April and August 2020, serving to save over 470,000 jobs.

“I’ve had some great – and a lot of bad – experiences with business banking. Most banks I’ve worked with do one or several things well but fail to holistically meet the particular needs of my small business clients,” stated Beyth Hogue Greenetz, proprietor of Road West Financials – monetary consultancy for different small enterprise homeowners. “After referring many of my clients to BlueVine’s seamless PPP loan service, I jumped at the opportunity to try BlueVine’s Business Banking. Earning cash on my account balance, combined with BlueVine’s intuitive and streamlined interface, has already led me to recommend the service to several of my clients.”

Introducing BlueVine Payments
Available immediately as half of BlueVine Business Banking is BlueVine Payments. With this enhanced invoice pay function, small enterprise homeowners pays just about any enterprise distributors or payments – equivalent to leases, utilities, contractors, and extra – by checking account, debit card, or bank card (beta). The cost is then despatched to distributors both through ACH, wire, or verify.

BlueVine Payments allows small enterprise homeowners to seamlessly pay distributors and payments from a listing of over 40,000 registered payees and frequent billers or add their very own in only a few clicks. Customers even have the flexibleness to arrange one-time or recurring funds, or schedule for a day sooner or later, through the Business Banking cellular app.

BlueVine Payments by bank card, which is at present in beta testing, saves enterprise homeowners time and cash by:

  • Smoothing their money stream: Business homeowners pays distributors by bank card to any of over 40,000 registered payees, even when they don’t settle for playing cards.
  • Building up bank card factors & rewards4: The Payments function permits prospects to protect money and put present credit score to make use of, to allow them to preserve incomes on each buy.
  • Choose tips on how to pay: Small enterprise homeowners have the choice to pay by bank card (2.9%) or their checking account (interest-free). BlueVine sends the funds (verify, wire, or ACH) on the small enterprise homeowners’ behalf. No extra writing pointless checks.

Plaid Integration
Using Plaid, BlueVine prospects can select to attach their exterior checking account within the BlueVine dashboard. In addition, by way of Plaid Exchange, BlueVine Business Checking can also be listed as a supported checking account to all third-party software and banking companions that combine with Plaid. As a end result, BlueVine prospects can select to share account data securely and seamlessly with the assorted platforms to be extra environment friendly when banking with BlueVine Business Checking. Examples of third-party monetary purposes embrace Expensify, Venmo, and Xero.

To be taught extra about BlueVine Business Checking and to enroll immediately, go to: https://www.bluevine.com/checking/

About BlueVine
BlueVine offers small and medium-sized companies with quick and easy entry to monetary companies constructed with them in thoughts. BlueVine’s superior on-line platform is intuitive and provides a handy resolution for enterprise’ banking and working capital wants. BlueVine provides a collection of merchandise designed to satisfy the various monetary wants of immediately’s enterprise homeowners together with BlueVine Business Checking, Payments, Line of Credit, Term Loan, and Invoice Factoring. Based in Redwood City, California, BlueVine has supplied small and medium-sized companies with entry to greater than $8 billion in financing and is backed by main personal and institutional traders, together with Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, SVB Capital, Rakuten, Nationwide Insurance, and M12 (Microsoft’s Venture Arm). All traces of credit score and time period mortgage merchandise are issued by Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC.

BlueVine Business Checking supplied by The Bancorp Bank. BlueVine Business Checking deposits are FDIC insured as much as at the least $250,000 by way of The Bancorp Bank; Member FDIC. Bill pay funds are held by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System.

For extra data, please go to https://www.bluevine.com/ or observe us on LinkedIn and Twitter.

Media Contacts:
Christina Cole
Head of Communications, BlueVine
650-252-1980
press@BlueVine.com 

Ali Mapplethorpe
Highwire PR for BlueVine
415-675-1457
BlueVine@highwirepr.com

Photos accompanying this announcement can be found at: 

https://www.globenewswire.com/NewsRoom/AttachmentNg/a3ada781-638e-4855-be45-70a591ba77c0

https://www.globenewswire.com/NewsRoom/AttachmentNg/04780ab6-4e86-4e8e-a20d-8967811daed3

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1
BlueVine Business Checking to earn 1.0% curiosity when checking stability is at the least $1,000. The nationwide common relies on a easy common of charges paid by U.S. depository establishments on curiosity checking as calculated by the FDIC. Out of community ATM surcharge charges could apply.
2 BlueVine Business Checking will provide 1.0% curiosity on all new checking balances as much as and together with $100,000. Balances over $100,000 won’t earn curiosity. Existing prospects will likely be notified one month previous to the change.
3 Sign up time primarily based on person testing.
4 Earning rewards is topic to the phrases and situations of the account holder’s settlement with their bank card supplier.

The dashboard of BlueVine enterprise banking