BlueVine added new features on their business profile dashboard, including bills and Quickbooks integration.
The firm also broadened its business savings product, offering eligible consumers 1.2% interest on balances up to $100,000.
“For small business owners, every day brings a new set of challenges and opportunities when it comes to running their business. They are incredibly busy and need access to digital-first solutions that help them intuitively accomplish daily tasks and bank with confidence,” Eyal Lifshitz, CEO, and cofounder said.
“With our new account feature updates, we are further simplifying a complicated aspect of owning a business by streamlining the account dashboard and creating one central hub for customers to handle all their banking needs.”
By offering more financial control and an interest-bearing checking account, Lifshitz said that BlueVine aims to reduce the friction that small business owners typically experience when navigating their cash flow and savings accounts.
Founded to build a banking product for small businesses, the Redwood City, Calif., based firm has served more than 415,000 SMBs.
New BlueVine features
- Account Access: Account Access enables customers to grant authorized users such as co-owners, employees, and accountants access to their BlueVine Business Checking and Line of Credit accounts. This new feature, available to all checking and line of credit customers, will allow account owners to easily manage additional user access to their accounts.
- Bills Management: With updates to BlueVine’s Bill Pay, including Inbox, you can easily add, track, and manage bills on your BlueVine Dashboard. Customers can make one-time bill payments or set up recurring bill payments.
- QuickBooks Integration: BlueVine’s QuickBooks integration lets customers easily sync data like bills, transactions, and payees between the two platforms. Users will be able to sync bills from QuickBooks and complete payments on the BlueVine Dashboard with their preferred payment method.
Flora Langel, CFO of Shake & Make Aware, said that with BlueVine, she and her team get quick and easy access to their finances. She told her cofounder could easily log in and verify necessary details without oversight and called the tool a gamechanger.
“As the CFO of a small business, my days are often hectic, and it can be hard to keep track of all of the moving parts that come with operating a business,” Langel said. “It’s really important that I not only have the tools in place that help me run my business efficiently and from one place, but that I work with companies that I trust. “
Make SMB owners lives easier
BlueVine constantly evaluates new ways to make small business customers’ lives easier with innovative products and low fees. Starting Feb. 1, 2022, customers will receive 1.2% interest (40 times the national average) on balances up to and including $100,000. To take part in the program, customers must satisfy either of the following conditions to continue receiving the 1.2% interest rate:
- Spend $500 per month with their BlueVine Business Debit Mastercard®, which you can use everywhere Mastercard® is accepted.
- Receive $2,500 per month in customer payments into their BlueVine Business Checking account via ACH, wire transfer, mobile check deposit, or directly from their merchant payment processing provider
The firm said it is uncommon for banks to offer interest on business banking accounts, but with BlueVine, owners can handle all of their business operating needs from one place.
“Customers trust BlueVine because we understand the work it takes to manage a successful business,” Lifshitz said. “We’ve built financial solutions that allow them to focus their energy on business-critical decisions, not tracking down bills or managing multiple applications to run vendor payments.”
