Bluevine Premier vs Chase Platinum Business Checking Account: Which is Best in 2024?

Bluevine: 0 out of 5

Bluevine operates exclusively in the digital space and has no branches.

Chase: 5 out of 5

If you need in-person banking, Chase offers more advantages. It has 4,700 branches across 48 states, except Alaska and Hawaii.

Bluevine: 5 out of 5

You can open a Bluevine Premier business checking account online.

Chase: 5 out of 5

Chase allows online account opening for Chase Platinum Business Checking accounts.

Bluevine: 3 out of 5

Bluevine does not offer a free cash deposit allowance, but you can make cash deposits at Green Dot locations and Allpoint+ ATMs.

A fee of $4.95 per transaction is charged at Green Dot, whereas a fee of $1 per deposit plus 0.5% of the deposit amount is charged at Allpoint+ ATMs.

Chase: 5 out of 5

Under the Chase Platinum Business Checking account, Chase offers a monthly cash deposit allowance of $25,000. Past that limit, you will pay $2.50 per $1,000. At Chase ATMs, you can deposit cash for free.

Bluevine: 5 out of 5

Bluevine Premier offers an excellent 4.25% APY on balances up to $3 million with no minimum qualifications.

Chase: 0 out of 5

In contrast, Chase does not provide any interest in its Chase Platinum Business Checking product.

Bluevine: 3 out of 5

With a Bluevine Premier business checking account, you can open up to five fee-free subaccounts with your main account and get a dedicated account number assigned per subaccount.

Chase: 5 out of 5

Meanwhile, Chase lets you link up to 99 Chase Platinum Business Checking subaccounts.

Bluevine: 3 out of 5

To waive Bluevine Premier’s monthly fee of $95, you need to do the following:

• Maintain the minimum average daily balance of $100,000 across your Bluevine Checking account and subaccounts.
• Have a monthly spend of $5,000 or more using your Bluevine debit or credit card.

Chase: 3 out of 5

Chase also provides waiver conditions for the Platinum Business Checking account. To waive the $95 monthly fee, you need to do any of the following:

• Maintain a combined average daily balance of $100,000 across qualifying business deposit and business investment accounts.
• Maintain a combined average daily balance of $50,000 if you have a Private Client Checking account.

Bluevine: 4 out of 5

Under Bluevine Premier, outgoing wire transfer costs are reduced by half. When sending domestic wires, you only pay $7.50 instead of the Bluevine Standard fee of $15. Sending US-dollar international wires is also cheaper at $12.50 instead of the usual $25.

Chase: 3 out of 5

Meanwhile, with Chase Platinum Business Checking, you can send the four most expensive domestic wires for free, but after that, the fees can cost up to $35. As for sending international wires in USD, the fees can go as high as $50 per transfer.

Bluevine: 3 out of 5

If you use ATMs outside the MoneyPass network, Bluevine charges $2.50 for ATM usage on top of potential third-party operator fees.

Chase: 5 out of 5

Meanwhile, Chase Platinum Business Checking account holders won’t be charged when using ATMs out-of-network, although third-party operator surcharges can still apply.

Bluevine: 5 out of 5

Bluevine customers save more since they don’t pay standard ACH fees and are charged a low cost of $5 for same-day ACH transactions.

Chase: 3 out of 5

Meanwhile, Chase charges $2.50 per item for the first 10 standard ACH payments. The fee is reduced to 15 cents per transaction for succeeding payments. For same-day ACH transactions, the cost is 1% of the transaction value up to a maximum of $25 fee per transaction.

Bluevine: 4 out of 5

Bluevine provides standard email support and live customer support available via a toll-free number. In addition, Bluevine Premier account holders are routed to a priority queue automatically when they call the phone number linked to their account.

Chase: 5 out of 5

Like Bluevine Premier customers, Chase Platinum Business Checking account holders can access a dedicated Business Platinum line customer support team aside from the bank’s live online and branch customer support services.

Bluevine: 3 out of 5

Apart from business checking accounts, Bluevine customers can apply for a line of credit and a credit card. A Bluevine Business Cashback Mastercard is available only by invitation if you qualify.

Chase: 5 out of 5

Meanwhile, Chase offers a more robust selection of banking products and services, which include savings accounts, CD options, credit cards, lines of credit, small business loans, commercial real estate financing, retirement services, and merchant and collection services.

Yes, Bluevine provides three business checking options with excellent APY rates. It also offers a free business checking account with unlimited transactions and no required opening deposit and monthly fee. Additionally, you get free incoming domestic wire transfers and will not be charged for standard ACH payments.

Yes. Chase offers fee-free and unlimited electronic transactions, high monthly cash deposit limits, and no required opening deposits. You can also access various business products, which include checking, savings, CDs, credit cards, and lending solutions. Small businesses also have the option of in-person banking at Chase’s nationwide branches.

You are not required to maintain a minimum balance for Bluevine Premier business checking, but to waive the monthly fee of $95, you must meet the minimum average daily balance of $100,000 across your Bluevine Checking account and subaccounts and use your Bluevine debit card or credit card for monthly purchases of $5,000 or more.

There is no minimum balance requirement for Chase Platinum Business Checking. However, to waive the $95 monthly fee, you need to maintain a combined average daily balance of $100,000 across qualifying business deposit and business investment accounts or a combined average daily balance of $50,000 if you have a Private Client Checking account.