BlueVine Business Checking $300 Bonus

Update 10/2/24: Deal is back until 12/31/24. Hat tip to reader Karl

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: Nationwide
  • Direct deposit required: No
  • Additional requirements: Yes, see options below
  • Hard/soft pull: Soft
  • ChexSystems: No
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee: 150 days, bonus forfeit
  • Household limit: None mentioned
  • Expiration date: July 31, 2024

The Offer

Direct Link to offer

BlueVine business checking is offering a $300 signup bonus:

 

  • To get your $300 bonus, apply for a Bluevine Business Checking account by 7/31/2024 using referral code NW300
  • After opening your account, add funds within 30 days, then meet at least one of the following eligibility requirements every 30 days for the next 90 days from account funding:
    1. Deposit at least $5,000 from eligible merchant services to your Bluevine account
    2. Make at least $5,000 of outbound payroll payments from your Bluevine account
      using eligible payroll providers
    3. Spend at least $2,000 with your Bluevine Business Debit Mastercard and/or Bluevine
      Business Cashback Mastercard

The Fine Print

  • Bluevine is a financial technology company, not a bank. Bluevine deposits are FDIC-insured through Coastal Community Bank.
  • For the avoidance of doubt, a New Customer is a natural person who does not have an existing Bluevine Business Checking Account held in the name of a business of which they are an owner and has not had such an account open in the last twelve (12) months.
  • In order to be eligible, New Customers must be (i) at least 18 years old; and (ii) a legal resident of the fifty (50) United States or Washington, DC. Officers, directors, managers, and employees of Sponsor and of its parent, subsidiary, and affiliate companies, as well as the immediate family members (spouse, parents, siblings, and children) and/or household members of each such person are not eligible.
  • Conditions and Promotional Period: To be eligible to receive the bonus associated with this promotion, New Customers must 1) apply for and open a Bluevine Business Checking Account using a bonus offer code between 12:00:00 AM EST on June 24, 2024 and 11:59:59 PM EST on July 31, 2024.; 2) fund their Bluevine Business Checking Account within thirty (30) days of account opening; and 3) meet at least one of the following conditions every thirty (30) days for ninety (90) days from account funding: a) receive at least $5,000.00 in deposits from eligible Merchant Services; b) make at least $5,000.00 in payments through eligible Payroll Providers; or c) spend at least $2,000.00 with the Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®. A list of eligible Merchant Services and Payroll Providers (each an “Eligible Third Party”) can be found at https://www.bluevine.com/eligible-merchant-services-and-payroll-providers. Bluevine will make its best effort to attribute transactions to the correct Eligible Party. For the avoidance of doubt, Bluevine’s computer is the official time-keeping device for the promotion.
  • Notification: If a New Customer meets all of the eligibility requirements and conditions of the promotion, Bluevine will deposit the bonus into their Bluevine Business Checking Account by the tenth day of the month that follows the month in which the last requirement was met provided that the account is not closed or suspended.
  • Limitation of Liability: Bluevine and its respective officers, directors, employees, representatives and agents, shall have no liability and shall be held harmless by participants for any damage, loss or liability to persons or property, due in whole or part, directly or indirectly, by reason of the acceptance, possession, use or misuse of prize or participation in this promotion. Bluevine reserves the right in its sole discretion to modify or end the promotion at any time and exclude any participant for any reason, including suspected fraud, misuse, or other misconduct and may also terminate any Bluevine accounts you may have with us. Bluevine also reserves the right to reverse the bonus if a New Customer closes their Bluevine Business Checking Account within 150 days of funding it.
  • Miscellaneous: The bonus associated with this promotion is considered interest and will be reported on IRS Form 1099-INT. You are responsible for any federal or state taxes resulting from the promotion. Please consult your tax advisor if you have questions about tax treatment.

Avoiding Fees

  • Blue vine has no monthly fees, no overdraft fees, no minimum balance, free standard ACH, and unlimited transactions.

There is an EATF if closed within 150 days.

Our Verdict

Good chance for businesses to try out this bank option with this $300 bonus. It’s not an easy bonus due to the spend/payroll/processing requirements which needs to be done three times. Still might interest some readers who have lots of debit card spend. We’ve added this to our List of Best Bank Bonuses.

Bluevine also offer 2% APY on balances up to $250,000 which is something most business checking accounts don’t have.

Hat tip to reader Ben
    Chuck
  • On October 2, 2024, 11:00
Tags: bank bonus

View Comments (292)

  • @Mike Came here to ask a similar question. However, I plan to do a transfer from P1's PayPal to P2's acct... (Or should it be some kind of a special "payment", not just a transfer?!) Otherwise, not willing to spend real $6k ($2k x 3 months) for $300 bonus; could get a much bigger/valuable cc signup bonus for that spend.

  • According to them, "I have reached out to our team and would like to inform you that there is no need to maintain the balance of $2000 in the account. You will just need to meet the eligibility criteria.
    The only change is to spend at least $2,000.00 on Eligible Transactions with the Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®. Eligible Transactions are transactions other than peer-to-peer payments or transactions that use the Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard® as a funding source for payments made through a bank or other financial institution."

    • Thanks for the information, that is good to know. For the rest of the new requirements, do we need to meet one of the three conditions every 30 days from November 7th or from December 7th or from any other date? I quoted the language in the terms from the email that confused me below:

      "However, we would like to provide you with an opportunity to earn it and will be restarting the promotion for you. Beginning November 7, 2024, you can qualify for the bonus through credit or debit card spend on Eligible Transactions* or through either of the two other eligibility requirements."

      "3) meet at least one of the following conditions every thirty (30) days for ninety (90) days from beginning on the 31st day after Account opening:
      a) receive at least $5,000.00 in deposits from eligible Merchant Services;
      b) make at least $5,000.00 in payments through eligible Payroll Providers; or
      c) spend at least $2,000.00 on Eligible Transactions with the Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®."

  • 1. At least $5,000 in deposits from eligible merchant services :

    • Deposits must come from recognized merchant services (see below).
    • Ensure the total deposits amount to at least $5,000 during each 30 day period.
    • Note: Transfers between customer accounts and sub-accounts do not count toward the eligibility requirements.

    I am concerned with the note above. Does receiving $5000 paypal payment from P2 to P1's paypal account and then transferring out to P1's Bluevine account satisfy this requirement #1?

  • If one were to try to meet the terms and conditions of the 'new' bonus given this 'second chance' - what would you interpret them to be? $2k min balance for 90 days + "spend at least $2,000.00 on Eligible Transactions with the Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®." (or 1 of the other 2 stipulations which are harder to meet)?

    • 2k min balance is the baseline above all else. I would push 5k/month from paypal (and then pull back out from a third account) rather than try to meet 2k spend again, but it would be helpful if @guest_1884704 @guest_1897723 or @guest_1887492 weighed in on personal vs biz paypal ach deposits...

      • To confirm, I used PayPal business deposits and it looks like they just go through as regular ACH deposit, nothing descriptive about it being from a business account.

          • I haven’t contacted them yet since I’m still in the process of making my 3rd deposit. I’ll wait for that to clear and then reach out, probably next week.

      • I chatted with them to see about the $2k min balance and they didn't mention it at all until I brought it up as being in the new t and c. They're checking with the team and supposed to email me back clarifying whether it's for people 'redoing' the bonus or only new customers.

      • Nothing has happened yet with mine. No bonus etc. as far as I know there’s no difference between personal and business PayPal deposits.

        • How to do Paypal deposits? Load Paypal balance from another bank account and then withdraw to this account?

          • With personal, you can fund the Paypal balance from other linked bank accounts or from a debit card. According to @guest_1887492 , biz can only be funded by pulling from other bank accounts with a potential 3-day delay. Once the funds are available, you can push them to Bluevine.

          • I tried again with $100 with debit card and received an error "We are having trouble with this transaction. Please try another debit card or bank account. " Then I tried with a bank account, got the same error. Any idea what is causing the error? I wonder if I can push into Paypal with an external account.

          • The $5k deposit from Paypal can be the sum of several deposits, right?

            I just tried to add 5k to Paypal with a debit card but Paypal said "You've reached your add money limit." I only tried to add $100 from a bank account several days ago. Is there any place I can see what my daily/total add money limit is? I wonder if I try to add a small amount at at time if it would go through...

          • Thanks for the explanation. I have a Paypal personal account, I'll try this route once figuring out what to do with the $2000 balance requirement.

          • Good luck, but are we sure the new terms allow this, and if so they probably will change the terms again.

          • I looked at the new term again, now I am confused when to start the new cycles for the Paypal deposits/ debit card spending. Do we need to fulfill one of the transaction requirements every 30 days starting from Nov.7th or any other date?

          • That was never clear since the (original) terms contradicted what some CSRs said regarding 30 days from funding date vs. calendar month. In situations like this, I would make all my transactions after the 7th but before the end of each month to cover all bases.

          • "“3) meet at least one of the following conditions every thirty (30) days for ninety (90) days from beginning on the 31st day after Account opening"

            That makes sense. And in case they start counting from the 31st day, I think I will make all my transactions after the 7th but before the end of each month and make it 4 months instead of 3.

          • I chatted with them to follow up since I completed the requirements in October and should have received the bonus November 10th. The rep said I should get the bonus December 10th. I'm not holding my breath but hopefully it works out.

  • I'm posting again now that many other people are also having problems collecting their bonuses. The CFPB will not accept complaints about Bluevine because it's a fintech. I'm submitting my BBB and Federal Reserve complaints today and suggest everyone do the same. If anybody needs the terms of the original promotion from back in July, here they are. https://pxl.to/pe7barbj

  • I don't know, their terms and conditions say they can modify the promotion at any time and exclude people from the bonus.. sounds like there isn't much we can do

    • This hasn't held up legally in the past, I doubt it will here.

      They can change the offer at any time for NEW applicants, but not for those who have already applied under the previous terms.

      A lot of laws being broken in the process too, especially if they knew about this change and intentionally delayed updating the terms on the site to lure in any number of new customers with this practice.

  • BBB response - entirely useless.

    I'm a supervisor with Bluevine following up regarding your Better Business Bureau complaint. We appreciate you taking the time to share this review with us and apologize that your experience didn't meet your expectations.
    As explained in the email that you received last week, we recently updated the promotion’s terms and conditions to maintain the integrity and value of our bonus program for all our customers. Please note that the promotion’s terms and conditions allow us to modify it at any time. While you are not eligible to earn the bonus based on your previous activity, you still have an opportunity to earn it as explained in the email that you received. 

  • Anyone has the screenshot OR text of the original (before 11/7/24) NW300 promotion terms (fine print)? Please share.

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