Bluevine Premier and Chase Platinum Business Checking are two of the highest-tier accounts of top providers Bluevine and Chase. Both products offer outstanding features and great savings to users. Bluevine Premier gives a high APY of 3.0%, while Chase Platinum presents a high fee-free monthly cash deposit allowance of $25,000.
If you don’t need to visit a branch, Bluevine offers a reliable digital presence. Meanwhile, businesses wanting the option of in-person banking can opt for Chase for its solid nationwide presence in 48 states.
- Bluevine Premier
- Chase Platinum
Bluevine Premier vs Chase Platinum Business Checking Account Quick Comparison
 Business Premier |  Platinum Business Checking | |
|---|---|---|
| Geographic Availability | All states (online-only) | All states except Alaska and Hawaii |
| Required Opening Deposit | $0 | $0 |
| Monthly Fee | $95; waivable | $95; waivable |
| Transaction Limit Before Fees | No limit | Unlimited electronic transactions |
| Excess Transaction Fee | N/A | 40 cents per item |
| ACH Fees |
|
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| Domestic Wire Transfer Fees |
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| International Wire Transfer Fees |
|
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| Out-of-network ATM Fees |
| None |
| Cash Deposit Fees |
| $25,000 free per month, then $2.50 per $1,000 |
| APY | 3.0% | None |
| Our Reviews | Bluevine Business Checking review | Chase Platinum Business Checking review |
| Open an Account | Visit Bluevine Premier | Visit Chase Platinum |
| Debit Card | Free debit card, mailed within 10 business days of application approval (up to four additional cards for authorized users) | Free debit card, mailed within 10 business days of application approval |
|---|---|---|
| Physical Checks | Two free checkbook orders per year | Cost varies depending on type of checks ordered |
| Accounting Software Integrations | QuickBooks, Wave, and Xero | QuickBooks, FreshBooks, and other leading accounting software |
| Business Payment Integrations | Includes Wise, Venmo, Expensify, Cash App, and Square | Available with Chase Payment Solutions |
| Subaccounts | Up to 5 Bluevine subaccounts | Link up to 99 Chase Platinum Business Checking subaccounts |
| Customer Service | Priority customer support; chat available 24/7, and email Toll-free: (888) 216-9619 Mondays to Fridays, 8 a.m. to 8 p.m. ET | Live customer support online, live in branches, or dedicated Business Platinum line at (877) 425-8100 |
| Other Products Available | Line of credit and credit card | Business savings, certificates of deposit (CDs), lending products, credit cards, merchant services, and collection services |
| Our Reviews | Bluevine Business Checking review | Chase Platinum Business Checking review |
| Open an Account | Visit Bluevine Premier | Visit Chase Platinum |
When to Use
- You want high interest rates: Bluevine Premier’s outstanding APY of 3.0% on balances up to $3 million with no minimum qualifications is hard to beat. There is no APY with the Chase Platinum Business Checking account.
- You want low outgoing wire transfer fees: Bluevine Premier charges $7.50 for sending domestic wires and $12.50 for sending USD international wires. Although Chase Platinum Business Checking offers four outgoing domestic wires for free monthly, you can pay a steep $35 beyond that and up to $50 for international USD wires.
- You want to save on ACH payments: Bluevine does not charge standard ACH fees, while Chase collects $2.50 per item for the first 10 payments and 15 cents per item after.
- You want more FDIC protection: Bluevine provides an expanded FDIC coverage of up to $3 million through its sweep network partnerships. Chase offers the standard FDIC insurance of $250,000 per depositor and per account ownership category.
- You prefer a traditional bank with a great selection of business banking products: Chase offers various business products and services, which include business savings, CDs, lending products, and credit cards. It leads our roundup of the best banks for small businesses for its full-service banking solutions. Meanwhile, the digital-only Bluevine offers three business checking options, a line of credit, and a credit card product.
- You need in-person banking: You can easily access a Chase branch with its 4,900 brick-and-mortar locations and wide geographic coverage across 48 states. Bluevine does not have any branches.
- You deposit cash regularly: Chase Platinum Business Checking allows you to deposit fee-free up to $25,000 each month. Beyond the limit, you will pay $2.50 per $1,000. With Bluevine Premier, your cash deposits can add up since a fee of $4.95 per transaction is charged at Green Dot or $1 plus 0.5% of the deposit amount at Allpoint+ ATMs.
- You want more than five reserve accounts: Under Chase Platinum Business Checking, you get up to 99 Chase Platinum Business Checking subaccounts, while Bluevine Premier provides up to 5 subaccounts.
- You send wire transfers often: Both Bluevine Premier and Chase Platinum Business Checking offer some free or low-cost wire transfers, but users can save more by signing up with Mercury. This fintech offers domestic and international wire transfers at no cost. Our Mercury business checking review provides detailed information.
- You want to save on ATM fees: Although Chase Platinum Business Checking users won’t be charged when using nonnetwork ATMs, third-party operator surcharges may still apply. And if you use ATMs outside the MoneyPass network, Bluevine charges $2.50 for ATM usage on top of third-party operator fees. Consider Novo, which refunds ATM fees up to $7 monthly. Learn more by reading our Novo business checking review.
- You want a premium bank account with a lower monthly fee than what Bluevine and Chase charge: While Bluevine Premier and Chase Platinum Business Checking offer a waivable monthly fee, you must maintain a high balance of $100,000 to qualify for the waiver. Consider US Bank’s premium Platinum Business Checking, which has a $30 monthly fee that can be waived by meeting lower average checking balances
See our list of the best small business checking accounts for additional recommendations.
Comparison of Bluevine Premier vs Chase Platinum Business Checking Account Features
| Bluevine Premier | Chase Platinum Business Checking | |
|---|---|---|
| OVERALL RATING | 3.45 out of 5 ★ | 4.00 out of 5 ★ |
| Branch Availability | 0 | ★★★★★ |
| Online Account Opening | ★★★★★ | ★★★★★ |
| Cash Deposits | ★★★ | ★★★★★ |
| APY Earnings | ★★★★★ | 0 |
| Reserve Accounts | ★★★ | ★★★★★ |
| Monthly Fees | ★★★ | ★★★ |
| Outgoing Wire Fees | ★★★★ | ★★★ |
| ATM Fees | ★★★ | ★★★★★ |
| ACH Fees | ★★★★★ | ★★★ |
| Customer Service | ★★★★ | ★★★★★ |
| Other Products | ★★★★ | ★★★★★ |
| Rating Explanation:★★★★★ 5: This feature enhances your banking experience at no cost.★★★★ 4: This feature has a few minor drawbacks/limits or comes at a slight cost.★★★ 3: This feature has a few drawbacks/limits or comes at a slightly high cost.★★ 2: This feature has a few major drawbacks/limits or comes at a high cost.★ 1: This feature has major drawbacks/limits.0: This feature is unavailable. | ||
When we compared the Bluevine Premier vs Chase Platinum Business Checking account, we saw that overall, Chase Platinum offers more advantages. You get high free monthly cash deposits and free withdrawals at out-of-network ATMs. You also have the flexible option to open an account online or at one of Chase’s many branches.
Meanwhile, Bluevine Premier is an excellent product if you prioritize high interest earnings and want to save on outgoing wire transfer fees. You can also deposit cash, although a fee will be charged per transaction.
Click on the headers below for a closer look at each feature.
Branch Availability (Winner: Chase)
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 4,900 branches across 48 states, except Alaska and Hawaii.
Online Account Opening (Tie)
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.
Cash Deposits (Winner: Chase)
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.
APY Earnings (Winner: Bluevine)
Bluevine: 5 out of 5
Bluevine Premier offers an excellent 3.0% 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.
Reserve Accounts (Winner: Chase)
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.
Monthly Fees (Tie)
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.
Outgoing Wire Fees (Winner: Bluevine)
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.
ATM Fees (Winner: Chase)
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.
ACH Fees (Winner: Bluevine)
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.
Customer Service (Winner: Chase)
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.
Other Business Products (Winner: Chase)
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.
Bluevine Premier vs Chase Platinum Business Checking Account Reviews From Users
| Bluevine | Chase | |
|---|---|---|
| Rating | 4.3 from Trustpilot[1] (based on around 8,000 reviews) | 3.8 from WalletHub[2] (based on around 27,000 reviews) |
| Users Like |
|
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| Users Dislike |
| Long waiting time for phone support |
User reviews are generic for both providers since there is no specific Bluevine Premier and Chase Platinum Business Checking feedback available.
Satisfied Bluevine reviewers appreciated the provider’s high APY rate. Meanwhile, a Chase reviewer recommended doing business with the bank to access unadvertised loyalty-based benefits. Customers from both providers praised the top-notch level of customer service they received and shared their pleasant experiences with friendly and knowledgeable staff.
However, users also mentioned negative feedback. A few Bluevine clients complained about unexpected account closures caused by suspicious activity. Meanwhile, a couple of Chase customers claimed that it was difficult to reach customer service over the phone and that the waiting time was from half an hour to over an hour.
Frequently Asked Questions (FAQs)
Does Bluevine offer good business checking products?
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.
Is Chase good for small business banking?
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.
What is the minimum balance for Bluevine Premier business checking?
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.
What is the minimum balance for Chase Platinum Business Checking?
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.
Bottom Line
Choosing between Chase Platinum vs Bluevine Premier Business Checking depends largely on your business needs. If you are seeking high earnings and won’t require making cash deposits often or banking in person, then Bluevine is an outstanding choice. However, if your business is cash-reliant, Chase is the better pick with its high cash deposit allowance, huge branch presence, and wide geographic reach.
User review references:
[1]Trustpilot
[2]WalletHub
