How do I earn interest?

How does Bluevine’s interest rate work?

As a Bluevine Business Checking customer, you can earn 2% interest on balances up to $250,000 if you meet a monthly activity goal––that’s 30x the national average annual percentage yield (APY).¹

What is annual percentage yield?

Your annual percentage yield, or APY, is the rate of return you earn on deposits in your Bluevine Business Checking account.

How do I earn interest?

You’ll need to meet at least one of the following monthly eligibility requirements to earn 2% interest:

• Spend $500 per month with your Bluevine Business Debit Mastercard®, which you can use everywhere Mastercard® is accepted²
• Receive at least $2,500 per month in customer payments to your Bluevine Business Checking account or sub-accounts³ 

To qualify to earn interest for a given month, your debit or deposit transactions must post to your account or sub-accounts before the end of that month. Activity does not roll over from month to month, and eligibility requirements must be met during each month. You’ll receive your interest payout on the first of the following month as long as you’ve met one of the above activity criteria.

Eligibility Requirements

Frequently Asked Questions

How is interest calculated?

For your Bluevine Business Checking account, we calculate interest as simple interest daily and credit your interest earnings monthly. Learn more about how we calculate interest.

When is the interest deposited into my account?

Once you’ve met at least one of the monthly eligibility requirements to receive the 2% APY, we’ll deposit the interest you’ve earned into your main Bluevine Business Checking account on the first of the following month. For example, if you had $2,500 in deposits for the month of May, then you would receive your interest payout on your Bluevine Business Checking account on June 1st. This applies to account balances up to and including $250,000.

Will I earn interest if my balance is higher than $250,000?

You can earn 2% interest on Bluevine Business Checking account balances up to and including $250,000. Deposits beyond this limit will not earn interest, as outlined within our Account Agreement. Your Bluevine Business Checking account has no minimum balance required. 

Will my earned interest reflect on my 1099-INT form?

You’ll be eligible for a 1099-INT if you earn $10 or more of interest within the calendar year.

Note: The interest you earn in December will not be paid until January 1st of the next year. As a result, if you are calculating interest for a full year, do not include the interest accrued for the month of December because it will count toward the following year.

How do I know if I’m close to meeting the monthly qualifications?

You can check your interest eligibility status on your Bluevine dashboard. Please follow the steps below:

1. Sign in to your Bluevine dashboard
2. Navigate to Checking on the left-hand side
3. Hover over Interest rate, below your available balance
   
   • You can also view your eligibility status by clicking on Account Details below your available balance
     

1 Customers will earn 2% interest on total balances up to and including $250,000 only if they meet the monthly debit transaction or deposit requirements described in section M of the Account Agreement. No interest earned on balances over $250,000. Any interest accrued and payable for an Account or Sub-Account will be paid to your main Account. The national average and comparison are based on interest rates paid by U.S. depository institutions as calculated by the FDIC.
2  Debit transactions must post to your account before the end of the month to qualify toward that month’s eligibility requirement.
3 Qualifying transactions only include business deposits such as mobile deposits of customer checks and customer payments transferred via ACH, wire, or from payment processing providers. These transactions must post to your account or Sub-Accounts before the end of the month to qualify toward that month’s eligibility requirement. Transactions that do not qualify include, but are not limited to, cash deposits. Some requirements may not be enforced as of May 1, 2022. Subject to change.