Bluevine Business Checking
Online SMB checking with tiered APY, waivable paid plans, and $3M sweep FDIC — weak on cash, strong on ACH/invoicing
First Internet Bank Do More Business Checking
$0 monthly fee + modest checking APY + unlimited items, online-only, weak cash rails
Costs & Fees
| Metric | Bluevine Business Checking | First Internet Bank Do More Business Checking |
|---|---|---|
| Monthly maintenance | Standard $0; Plus $30; Premier $95 | $0 unconditional |
| Fee waiver | Plus waived if avg daily balance ≥ $20,000 AND ≥ $2,000 card spend (excl. ATM). Premier waived if avg daily balance ≥ $100,000 AND ≥ $5,000 card spend. Balance across main + sub-accounts. | N/A — already $0 |
| Transaction fees | No per-item excess fees; unlimited transaction count subject to dollar caps (see limits) | Unlimited transactions; no per-item fees advertised. Footnote: 'Dollar amount restrictions may apply' — meaning not disclosed. |
| Overdraft/NSF | $0 overdraft; $0 NSF (returned deposited items: customer owes item amount) | Conflict: marketing says 'no overdraft fees.' Fee schedule lists Returned Item $20 and Uncollected Funds $30 (schedule dated 03/15/2018). Confirm at opening. |
| ATM fees | MoneyPass in-network $0; out-of-network $2.50 + operator surcharge (no rebate). Daily cash-out cap $2,000. | Bank ATM fee $0. Third-party operator surcharge possible. Up to $10/month reimbursement of third-party ATM surcharges. No branded free network. 2% ISA on intl ATM/debit. |
| Wire/ACH | Incoming domestic wire $0 all plans. Outgoing domestic: $15/$12/$7.50. Incoming intl: $15/$12/$7.50. Outgoing intl USD: $25/$20/$12.50. Outgoing intl FX: $25+$1.5% / $20+$1.25% / $12.50+$1.0%. Standard ACH $0. Same-day ACH: $10/$8/$5. | Incoming domestic: $15. Outgoing domestic: $20. Incoming intl: $15. Outgoing foreign: $50. Standard ACH in/out: not disclosed as fee (treated as free). Business ACH default cap $25,000/day unless raised in writing. |
Interest & Yields
| Metric | Bluevine Business Checking | First Internet Bank Do More Business Checking |
|---|---|---|
| Checking APY | Standard 1.3% (first $250k, monthly activity test); Plus 1.75% (to $250k); Premier 3.0% (no cap per interest terms) | 0.50% APY variable — requires $10,000 average daily balance to earn interest. Daily Balance method. Below $10k ADB, effectively 0%. |
| Savings APY | N/A — single checking product with tiered APY | |
| FDIC coverage | Standard $250,000 at Coastal Community Bank; sweep program up to $3,000,000 across Program Banks (pass-through, aggregation caveats apply) | Standard FDIC $250,000 per depositor per ownership category at First Internet Bank of Indiana |
Features & Access
| Metric | Bluevine Business Checking | First Internet Bank Do More Business Checking |
|---|---|---|
| Branch/ATM network | No branches. 37,000+ MoneyPass surcharge-free ATMs for withdrawals. | No branch network. HQ lobby Fishers, IN only. Any ATM for withdrawal — bank $0, up to $10/month surcharge rebate. No ATM cash deposit advertised. |
| Mobile app | Google Play ~4.2/5 (~2.2k reviews, Apr 2026); iOS ~4.7 cited in secondary reviews | iOS 4.3/5 (~265 ratings); Google Play ~4.1–4.2 (~115–116 reviews) |
| Virtual cards | Included — physical + virtual debit cards with spend/ATM controls; up to 50 cards | Not disclosed for this checking tier |
| Opening deposit | $0 | $100 conservative (official page silent; secondary sources split $0 vs $100) |
| Eligibility | U.S. owners: sole prop, LLC, corp, partnership, nonprofit corp. International owners: U.S. LLC or corp only (25 supported countries). | U.S.-based businesses; owner at least 18. Structures not fully published — NerdWallet cites sole prop, LLC, corp with EIN or SSN and formation docs. |
Pros & Cons
Bluevine Business Checking
Pros
- Standard is $0 monthly with $0 overdraft/NSF and free standard ACH plus incoming domestic wires
- Premier 3.0% APY with no interest cap in March 2026 terms — rare for SMB checking
- Advertised sweep FDIC up to $3M at Program Banks (with aggregation caveats)
- Sub-accounts (5/10/50), up to 50 cards, and role-based AP with bill-pay approvals
- Built-in invoicing, Stripe Tap to Pay, and QuickBooks sync without separate banking subscription
Cons
- Plus/Premier waiver requires balance AND card spend — miss either and $30/$95 posts
- Cash deposits priced ($1+0.5% or $4.95) and capped at $7,500/30 days — poor for cash businesses
- Default $100,000/30-day combined outgoing wire+ACH ceiling unless raised
- No branches; support weekday 8am–8pm ET only
- Standard APY drops to 0% any month the activity test is missed; recurring freeze/hold complaints
First Internet Bank Do More Business Checking
Pros
- $0 monthly maintenance, $0 stated per-item fees, unlimited transactions (2026 FAQ)
- 0.50% APY on checking at $10k ADB — uncommon among free business checking (rate 6/16/2026)
- Balance Optimizer sweeps idle cash to First IB MMA at 2.94% / 3.64% without third-party sweep
- Phone support into evening and Saturday; Zelle for Business and account aggregation included
- Direct FDIC member bank (cert. 34607) — not a fintech/partner stack
Cons
- No usable cash-deposit system
- Incoming wires $15 even domestic — recurring cost for wire-paid businesses
- Checking APY modest and gated at $10,000 ADB; below that, yield effectively zero
- Standard FDIC $250k only; no advertised excess-insurance network
- Stale 2018 fee schedule vs 'no overdraft fees' marketing; check holds up to 7–9 business days
Verdict
Bluevine Business Checking
Bluevine Business Checking is an online interest-bearing SMB account from fintech Bluevine Inc., with deposits at Coastal Community Bank and optional sweep to Program Banks for up to $3M FDIC coverage. Three plans: Standard ($0, 1.3% APY with monthly activity test), Plus ($30 waivable, 1.75% to $250k), and Premier ($95 waivable, 3.0% uncapped APY). Strengths are yield, free Standard ACH/incoming wires, sub-accounts, 50 cards, invoicing, and QBO sync. Weaknesses are priced/capped cash deposits, $100k/30-day outgoing cap, weekday-only support, and documented freeze/hold patterns. Best compared to Chase for digital-first businesses that prioritize APY over branches.
First Internet Bank Do More Business Checking
Do More Business™ Checking is First Internet Bank of Indiana's single-tier online SMB checking. Direct FDIC member (cert. 34607). $0 maintenance, unlimited items, no cash network. 0.50% APY requires $10k ADB (rate 6/16/2026). Balance Optimizer sweeps to internal MMA (2.94%/3.64%). Costs: $15 incoming wires, $20 outgoing domestic, $50 outgoing foreign, $10/month ATM rebate cap, $3 paper statements, $5/month dormant. Funds availability can hold checks 7–9 days. Strong phone hours and Zelle; weak for cash, incoming wires, and balances above $250k FDIC.