Bluevine vs First Internet Bank Business Checking 2024

Bluevine: 5 out of 5

Thanks to a partnership with Coastal Community Bank and other program banks, Bluevine accounts provide FDIC insurance up to $3 million. Visit Bluevine’s sweep network information for a list of participating program banks.

First Internet Bank: 4 out of 5

Like the majority of bank accounts, First Internet Bank’s Do More Business Checking provides FDIC insurance up to $250,000.

Bluevine: 2 out of 5

To deposit cash in your Bluevine Business Checking account, you need to transact at a Green Dot retail location. Each deposit has a service fee of $4.95.

First Internet Bank: 0 out of 5

First Internet Bank doesn’t support cash deposits.

Bluevine: 3 out of 5

With Bluevine, you can open up to five free subaccounts with your main Bluevine Business Checking account. Each subaccount has its own dedicated account number.

First Internet Bank: 0 out of 5

First Internet Bank doesn’t provide subaccounts.

Bluevine: 3 out of 5

Bluevine Business Checking account holders can transact at around 40,000 MoneyPass ATMs for free.

First Internet Bank: 4 out of 5

First Internet Bank’s users can transact at any ATM without bank fees, but ATM operators may collect surcharges.

Bluevine: 5 out of 5

With Bluevine, you can access various payment processing apps, such as Stripe, PayPal, Wise, Venmo, and Expensify. It also integrates with accounting software, QuickBooks, Wave, and Xero.

First Internet Bank: 2 out of 5

QuickBooks and Zelle are compatible with First Internet Bank’s Do More Business Checking account.

Bluevine: 4 out of 5

Bluevine Standard Business Checking users can earn 1.5% APY up to $250,000—as long as they meet one or more of the following monthly activity requirements:

• Spend at least $500 in one month using your Bluevine Business Debit Mastercard
• Receive $2,500 per month in customer payments

First Internet Bank: 2 out of 5

First Internet Bank’s Do More Business Checking account holders must maintain a $10,000 daily balance to get 0.50% APY. Interest is uncapped.

Bluevine: 2 out of 5

Bluevine provides bill pay, ACH, and wire services.

First Internet Bank: 4 out of 5

First Internet Bank offers ACH and wire transfer services, remote deposit capture, bill pay, zero balance accounts, sweep services, merchant services, and fraud prevention tools.

Bluevine: 3 out of 5

Under Bluevine, incoming domestic wire transfers are free, but outgoing domestic wire transfers cost $15. Also, it doesn’t accept international wire transfers, but you can make international business payments. A flat fee of $25 is collected for each international payment, but sending payments in foreign currencies costs $25 plus an extra 1.5% of the payment amount in USD.

First Internet Bank: 1 out of 5

First Internet Bank doesn’t offer free wire transfers. It charges $15 for all inbound wires, $20 for outbound domestic wires, and $50 for outbound international wires.

Bluevine: 3 out of 5

Using MoneyPass ATMs lets Bluevine customers save on ATM fees but transacting at an out-of-network ATM costs $2.50. Additional surcharges from third-party operators may apply.

First Internet Bank: 4 out of 5

First Internet Bank collects no ATM fees, but operators may charge a fee for using their ATMs. Every month, the bank reimburses ATM fees up to $10.

Bluevine: 4 out of 5

Bluevine Business Checking account holders can order two free checkbooks each year. Each extra checkbook costs $18.22, plus taxes and shipping.

First Internet Bank: 3 out of 5

First Internet Bank’s online banking system is limited to personal checks. Clients can order their business checks through Deluxe by contacting (800) 328-7205 from 7:30 a.m. to 8 p.m. Central time. However, clients can also choose other check providers.

Bluevine: 4 out of 5

Bluevine offers email and live customer support using a toll-free number Mondays to Fridays from 8 a.m. to 8 p.m. ET.

First Internet Bank: 4 out of 5

First Internet Bank customers can contact the bank through its toll-free number or hotline, available Mondays to Fridays from 7 a.m. to 9 p.m. ET. They can reach customer support on Saturdays from 9 a.m. to 3 p.m. ET.

Bluevine: 4 out of 5

Bluevine also offers premium accounts, Bluevine Plus and Bluevine Premier. The monthly fees are waivable if you meet the required average daily balances and minimum debit card spending. These accounts offer higher APYs and discounts on same-day ACH fees and outgoing wire transfers.

You can also apply for a Bluevine line of credit if you meet the minimum qualifications. Additionally, Bluevine extends an invitation if you qualify for a Bluevine Business Cashback Mastercard. The card has no annual fee and earns unlimited 1.5% cash back on all business purchases. You can access Mastercard perks and exclusive discounts to QuickBooks Online, McAfee Intuit products, and more.

First Internet Bank: 4 out of 5

Multiple business banking products are available at First Internet Bank. You can open money market accounts, business savings, CDs, SBA loans, commercial real estate loans, lines of credit, and term loans.