Bluevine Premier Business Checking: A High-Yield Option for Larger Balances

If your business has a decent chunk of cash sitting in a checking account earning next to nothing, you're leaving money on the table. It's a common pain point, especially when you need that money to be liquid for operations. Enter Bluevine's Premier Business Checking account. It's positioned as a high-yield solution for businesses with larger balances, but that $95 monthly fee might give you pause. Let's break down whether the math works for your situation and what you need to know before applying.

Who This Account Is Really For

This isn't for every business. The sweet spot is a company that consistently keeps a six-figure balance in its operating account and also has significant monthly debit card expenses. Think of a small business with healthy cash flow, perhaps in retail, services, or contracting, where materials or supplies are regularly purchased with a card.

If you're hovering around that $100,000 mark, the Premier account can be compelling. Earning 3.0% on your operational cash is far better than the 0.01% (or zero) offered by many traditional business checking accounts. The extra 1.7% over the standard Bluevine plan also adds up quickly on larger sums.

Running the Numbers on the Fee Waiver

The $95 fee is no small thing, so understanding the waiver is crucial. It's a two-part requirement, and both must be met each billing cycle.

First, your combined balance across your main Bluevine checking and any sub-accounts must be $100,000 or more on average for the period. It's not about a single day's snapshot; they look at the daily average. This means you can't just park $100k for a day and move it out.

Second, you need to put at least $5,000 in purchases on your Bluevine Business Debit Mastercard or their Cashback Mastercard within that same cycle. This is the trickier part for some businesses that primarily pay via ACH, wire, or credit card for rewards. You'll need to shift some spending habits to hit that target.

• Two-Part Test: Balance AND spend. Missing one means you pay the $95 fee.
• Average Daily Balance: Fluctuations matter. A few low days can pull your average down.
• Debit Card Spend: $5,000 per billing period. Plan your larger vendor payments accordingly.

Beyond the Interest Rate: Other Features to Consider

The high yield is the headline, but the other features can provide real value. The 50% discount on payment fees—like same-day ACH, domestic wires, and international wires—can lead to substantial savings if your business makes frequent expedited payments.

The expanded FDIC insurance coverage of up to $3 million is a significant safety net, especially for businesses that hold more cash than the standard $250,000 limit. This is achieved by spreading deposits across a network of partner banks.

The inclusion of a six-month Xero subscription and priority customer support are nice touches that add to the premium feel of the account.

Practical Advice and Potential Pitfalls

Before you jump in, do a honest assessment of your cash flow. Can you reliably maintain the balance requirement through slower months? Is your $5,000 monthly debit card spend realistic, or will it force awkward financial behavior? If the answer to either is 'no,' the standard Bluevine plan at 1.3% APY with no fee might be a safer, still-profitable bet.

Remember, rates can change. The 3.0% APY is attractive now, but it's not locked in forever. Bluevine, like all banks, can adjust it based on market conditions.

Also, note the one-month free trial. This is a great way to test the service, set up your accounts, and see if the interface and features work for you before any fee kicks in. You can always downgrade to the standard plan if Premier isn't the right fit.

Bottom Line

• Ideal for businesses with consistent $100k+ balances and $5k+ monthly debit card spend.
• The fee waiver is strict; you must meet both the balance and spend requirements every month.
• The 3.0% APY is strong for liquid business cash, but the standard 1.3% APY plan is a good no-fee alternative.
• Additional perks like payment fee discounts and high FDIC insurance add tangible value for the right business.

Common Questions