The internet-only banking solutions Bluevine and Axos Bank have designed innovative business checking solutions that help small businesses get ahead. Their low-tier checking accounts, Bluevine Standard Checking and Axos Basic Business Checking have no monthly fees, minimum opening deposits, and required minimum balances.
When comparing Axos vs Bluevine, it’s important to consider account features along with interest earning capabilities. Bluevine’s high Annual Percentage Yield (APY) gives it the edge when it comes to interest-earning capacity and its free automated bill pay delivers more convenience. Meanwhile, Axos Bank offers definite advantages for reimbursement of domestic ATM fees and unlimited fee-free mobile and electronic deposits.
Here’s a summary of what each provider is best for:
- Bluevine Standard Checking
- Axos Basic Business Checking: Best for businesses wanting an affordable, digital-only checking account with fee-free mobile and electronic deposits and unlimited ATM fee reimbursements.
If you’re looking for an account with the option to segment funds into subaccounts you may want to consider:
- North One: With North One you can create as many envelopes for free through its app or website to keep business funds separated.
Bluevine vs Axos Quick Comparison
 Standard Checking |  Basic Business Checking | |
|---|---|---|
| Required Opening Deposit | None | None |
| Required Balance Minimum | None | None |
| Monthly Fee | None | None |
| Transaction Limit Before Fees | Unlimited | Unlimited |
| Automated Clearing House (ACH) Fees | None | None |
| Domestic Wire Transfer Fees | $15 for outgoing; incoming are free | $15 for outgoing |
| International Wire Fees | $25 plus 1.5% | $50 for outgoing; incoming are free |
| ATM Fees | None at MoneyPass locations nationally, plus a $2.50 fee for nonnetwork ATM use | Unlimited domestic ATM fee reimbursements |
| Cash Deposited |
| Free at MoneyPass and Allpoint networks; $4.95 at Green Dot locations |
| APY | 1.3% on qualifying balances up to $250,000 | N/A |
| Our Review | Bluevine Business Checking review | Axos Business Checking review |
| Open an Account | Visit Bluevine | Visit Axos |
Standard Checking | Basic Business Checking | |
|---|---|---|
| Debit Card | Free physical and virtual Bluevine Business Debit Mastercards available for account holders and team members | Free business Visa debit card |
| Physical Checks | Two free checkbook orders per year | First set of 50 checks free |
| Accounting Software Integrations | QuickBooks, Xero, Wave, and Expensify | QuickBooks |
| Business Software Integrations | CashApp, Gusto, Square, Venmo, and Wise | N/A |
| Customer Service | Live customer support from dedicated professionals | 24/7 phone support from service professionals |
| Other Products Available | Line of credit, credit card, Plus, and Premier Checking | Savings accounts, money market accounts, certificates of deposit (CDs), Small Business Administration (SBA) loans, and merchant services |
| Our Review | Bluevine Business Checking review | Axos Business Checking review |
| Open an Account | Visit Bluevine | Visit Axos |
When To Use
- You want to earn competitive interest: Bluevine Premier Checking offers qualified accounts a 1.3% APY on balances up to $250,000, while Bluevine Premier Checking provides a 3.0% APY for balances up to $3 million. Axos does not offer an APY for its basic-tier account.
- You’re looking for an advanced bill management and payment system: Bluevine provides small business owners with a free and automated bill pay system featuring bill capture and storage, approval functions, payment scheduling, and automatic accounting reconciliation, including user access control. In contrast, Axos provides basic bill pay.
- You need access to lines of credit: The only lending products available for small businesses at Axos Bank are SBA 7(a) loans. Bluevine offers revolving lines of credit and a credit card.
- You seek to open reserve accounts: Bluevine allows you to open up to five subaccounts for easy tracking of business expenses, whereas Axos does not offer this feature.
- You make frequent ATM withdrawals: Axos Bank refunds all domestic ATM fees, whereas Bluevine charges a $2.50 fee for non-MoneyPass ATM withdrawals.
- You want fee-free cash deposits: Axos Bank gives customers two options for depositing cash fee-free. Deposits can be made at Allpoint and MoneyPass ATM networks. Deposits can also be accepted at Green Dot locations however, there is a $4.95 fee. Bluevine deposits have fees whether you are depositing through a Green Dot retail location or an Allpoint+ ATM.
- You need access to a full range of banking services: Under Axos Bank, you can open business savings accounts, money market accounts, CDs, merchant services, payroll services, SBA loans, and treasury management services. Bluevine only offers business checking, lines of credit, term loans, and SBA loans.
- You want to earn a cash back bonus: Opening a new account with Axos Bank entitles you to a $400 bonus if you meet the required maintaining balance and activity requirements. See our guide to the best business bank account promotions to learn the details.
- You rely on in-person banking: Neither Bluevine nor Axos Bank has brick-and-mortar locations. A better choice would be Chase, which has 4,800 branches across the United States. Read our Chase business checking review to get a rundown of its three business checking accounts.
- You want to earn competitive APY on balances over $250,000 without paying a monthly fee: Bluevine Premier Checking gives out 3.70% APY for balances up to $3 million but has a waivable monthly fee of $95. Meanwhile, Axos Basic Business Checking does not provide an APY. Grasshopper Bank offers up to 1.80% APY on balances of $25,000 to $250,000. Learn more from our Grasshopper Bank business checking review.
- You want access to tax tracking and preparation tools: While Axos and Bluevine checking accounts integrate with business software, both providers do not have tax tracking and preparation tools, which benefits self-employed professionals. See our Found business checking review to learn more about this feature.
For additional recommendations, refer to our list of the best small business checking accounts.
Bluevine vs Axos Business Checking Features
| Bluevine | Axos Bank | |
|---|---|---|
| Overall Rating | 3.6 out of 5 ★ | 3.2 out of 5 ★ |
| APY Earnings | ★★★★★ | 0 |
| Monthly Fees & Opening Deposit | ★★★★★ | ★★★★★ |
| Monthly Transaction Limits | ★★★★★ | ★★★★★ |
| Bill Pay | ★★★★★ | ★★★ |
| New Account Bonus | ★★★ | ★★★★ |
| ATM Fee Reimbursements | 0 | ★★★★★ |
| Reserve Accounts | ★★★★ | 0 |
| Business Integrations | ★★★★★ | ★ |
| Federal Deposit Insurance Corp. (FDIC) Insurance Coverage | ★★★★★ | ★★★★★ |
| Other Business Products | ★★ | ★★★★ |
Rating Explanation:
★★★★★: This feature enhances your banking experience at no cost.
★★★★: This feature has a few minor drawbacks/limits or comes at a slight cost.
★★★: This feature has a few drawbacks/limits or comes at a slightly high cost.
★★: This feature has a few major drawbacks/limits or comes at a high cost.
★: This feature has major drawbacks/limits.
0: This feature is unavailable.
When comparing Bluevine vs Axos business checking, Bluevine’s features offer plenty of benefits over Axos since Bluevine has a high APY, an advanced bill pay system, and allows the creation of reserve accounts. It also integrates seamlessly with many accounting, payment processing, ecommerce, and business operation software when compared to Axos.
Meanwhile, Axos Bank does not charge cash deposit fees for Allpoint and MoneyPass ATM networks and refunds all domestic ATM fees. It also provides a cash back bonus when you open a new checking account and offers a wide range of business banking products.
Click on each feature below to see more details.
APY Earnings (Winner: Bluevine)
Bluevine: 5 out of 5
Under Bluevine Standard Checking, balances up to $250,000 get a 1.3% APY. However, you can only earn interest if you meet one or more of the following activity requirements:
- Spend at least $500 on your Bluevine Business Debit Mastercard within one calendar month.
- Receive or deposit $2,500 per month in payments into your checking account or Bluevine subaccounts via ACH, wire transfer, mobile check deposit, or your merchant payment processing provider. This threshold can be met with any combination of incoming payment types or sources.
If you open a Bluevine Premier Checking, you can earn a 3.0% APY for balances up to $3 million, but a monthly fee of $95 applies. You can waive this fee by maintaining an average daily balance of $100K and spending $5,000 using your Bluevine Business Debit Mastercard each billing period.
Axos Bank: 0 out of 5
Meanwhile, Axos Bank does not offer an APY for their Basic Business Checking. However, Axos Bank’s interest-earning Business Interest Checking Account offers an APY of 1.01% on all balances lower than $50,000. For balances of $50,000 to $249,999.99, the rate lowers down to 0.20% and further reduces to 0.10% for balances worth $250,000 to $4,999,999.99.
Monthly Fees and Opening Deposit (Tie)
Bluevine: 5 out of 5
Bluevine Standard Checking has no monthly maintenance fee and minimum opening deposit.
Axos Bank: 5 out of 5
Likewise, Axos Bank’s Basic Business Checking does not collect a monthly maintenance fee or require a minimum opening deposit.
Monthly Transaction Limits (Tie)
Bluevine: 5 out of 5
Bluevine offers users unlimited transactions, which translates to more savings.
Axos Bank: 5 out of 5
Similarly, Axos Bank has no transaction limits.
Bill Pay (Winner: Bluevine)
Bluevine: 5 out of 5
Bluevine provides free and advanced bill management and payment software integrated into its platform for easy bill capture and storage, electronic approval, payment scheduling, and reconciliation of accounts.
Axos Bank: 3 out of 5
Axos offers a basic bill pay system where you can set up payees and schedule automatic payments.
New Account Bonus (Winner: Axos Bank)
Bluevine: 3 out of 5
Bluevine offers $300 sign-up bonus for new business checking account holders (use referral code: FSM300)
Axos Bank: 4 out of 5
Axos Bank offers a $400 welcome bonus if you open a new account by January 31, 2025, and meet the account requirements.
See our guide on the best business bank account promos for more options.
ATM Fee Reimbursements (Winner: Axos Bank)
Bluevine: 0 out of 5
Bluevine does not refund ATM fees.
Axos Bank: 5 out of 5
In contrast, Axos offers unlimited reimbursements for domestic ATM fees, leading to more savings.
Reserve Accounts (Winner: Bluevine)
Bluevine: 4 out of 5
Under Bluevine, users can create up to five subaccounts to separate funds for different financial categories, such as taxes, profit, payroll, and other expenses.
Axos Bank: 0 out of 5
Meanwhile, Axos Bank does not let users create subaccounts.
Business Integrations (Winner: Bluevine)
Bluevine: 5 out of 5
Bluevine integrates with QuickBooks, Xero, Wave, Expensify, CashApp, Square, Venmo, Wise, and Gusto.
You may be interested in checking out our review of Xero, review of Square POS, and review of Expensify to learn more about their features and pricing.
Axos Bank: 1 out of 5
In contrast, Axos integrates only with QuickBooks. Read our guide to QuickBooks to learn what it is and how it can benefit your small business.
FDIC Insurance Coverage (Tie)
Bluevine: 5 out of 5
Bluevine Business Checking Accounts are FDIC-insured up to $3 million per depositor through a sweep network, which is composed of partner banks that hold your funds for more protection above the standard FDIC coverage of $250,000.
Our guide to FDIC insurance for business accounts provides details about how it works.
Axos Bank: 5 out of 5
When it comes to FDIC insurance protection, Axos is miles ahead of other financial institutions with its $265 million FDIC insurance coverage in deposits through ICS.
Other Business Products (Winner: Axos Bank)
Bluevine: 2 out of 5
Aside from small business loans and a new credit card, Bluevine offers a Premier Checking account which has a high APY of 3.0% and a waivable monthly fee of $95.
Axos Bank: 4 out of 5
Axos Bank features a much larger selection of business banking products. It offers non-interest-earning checking accounts, savings accounts, money market accounts, CDs, SBA 7(a) loans, small business loans, treasury management, insured cash sweep, and payroll services.
Bluevine vs Axos User Reviews
 |  | |
|---|---|---|
| Trustpilot Rating | 4.3 out of 5 | 2.1 out of 5 |
| Users Like |
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| Users Dislike |
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Bluevine’s Trustpilot[1] rating is 4.2 from about 7,500 reviews, while Axos Bank’s Trustpilot[2] rating is 2.1 from around 120 reviews. Users gave positive feedback on the providers’ high APY offer.
Bluevine customers praised the provider for seamless transactions, helpful customer support, knowledgeable staff, and a simplified account opening process. They said that the onboarding process was quick and that the customer service representatives offered proactive solutions.
However, some small business owners complained about the funds being posted late due to long hold times. They mentioned the inconvenience of returned payments for insufficient funds since they have lower balances. Others also stated that they experienced having their accounts placed on hold without any reasons provided.
Meanwhile, Axos Bank has more negative than positive feedback from its users. Satisfied clients mentioned the bank’s high APY rate and low fees. However, most said they experienced a lack of support from the customer service team.
They mentioned that they lacked contact with their relationship managers and experienced multiple call transfers from different agents. Others said that while they interacted with polite customer service representatives, the staff lacked the proper tools to perform their work effectively.
It must be noted that Axos Bank also offers personal banking products and services, so it’s fair to say that the feedback is a mix of personal and business banking reviews. Bluevine reviews focused solely on business banking since it does not offer personal banking. The score wholly reflects its business services.
Bottom Line
Bluevine Standard Checking beats Axos Basic Business Checking in terms of APY, number of business software integrations, advanced bill pay system, and reputation. However, Axos Bank is still a good choice for businesses that need access to a wide selection of banking products, seek a higher FDIC insurance coverage, and want fee-free ATM usage. For businesses seeking to earn maximum interest on business funds, Bluevine is the better choice, whether they open a Standard Checking or a Preferred Checking account.
User review references:
