BlueVine vs NBKC Business Checking Accounts

When starting a small business, one of the first steps is to open a small business checking account. Choosing the right bank can be challenging, especially when comparing options like BlueVine and NBKC.

Both banks offer user-friendly business checking accounts along with other services designed to support business growth. This revised review will delve deeper into each bank’s offerings, providing a comparative analysis based on detailed evidence, expert insights, and user perspectives to help you make a well-informed decision.

BlueVine vs. NBKC Business Checking Accounts Overview

Before diving into specifics, let’s consider the origins and focus of each bank.

BlueVine was established in California in 2013, primarily serving small to medium-sized businesses with innovative financial solutions.

NBKC, originally the National Bank of Kansas City, was founded in 1999. With physical branches in Kansas City, it offers a blend of personal and business banking services.

BlueVine vs. NBKC Business Checking Accounts Comparison

Both BlueVine and NBKC offer strong business checking accounts. Any business could benefit from using either account. However, there are important differences that you need to consider to ensure you’re finding the perfect account for your company.

Unless you live in Kansas City, both banks function primarily as online banks. They also both have a focus on keeping fees low. Assuming you don’t make wire transfers, it’s easy to pay zero fees with either account.

The primary difference between the two checking accounts is that NBKC offers fee-free cash deposits at MoneyPass ATMs. You’ll have to pay a fee of $4.95 for every cash deposit you make with BlueVine. That means NBKC is a better fit for businesses that work with cash frequently.

If you don’t use cash frequently, the things that will help you choose between the two banks are their other services and features, such as app integrations and lending services.

Which Business Checking Account is Best for

Now, let's delve into the key factors that will assist you in making an informed choice between these two banks.

Most Affordable: Tie

Online banks typically offer fewer and lower account fees compared to traditional banks, and this holds true for both Bluevine and NBKC, which offer free small-business checking accounts.

When we say "free," it's important to note that the definition can vary among banks. However, in the case of Bluevine and NBKC, they keep things remarkably affordable.

Neither bank imposes a monthly fee on their checking account, eliminating the need to maintain a minimum balance to waive such fees. This means you can enjoy a checking account without any monthly charges.

Furthermore, both Bluevine and NBKC provide unlimited free monthly transactions, regardless of whether you have just one transaction or a thousand. And this is just the beginning.

You won't encounter ATM fees with either bank, as long as you use their extensive MoneyPass ATM networks, which comprise over 37,000 ATMs. Additionally, neither Bluevine nor NBKC charges NSF fees (non-sufficient funds fees). So, if your daily balance momentarily dips too low for a particular transaction, you won't face unexpected charges. That's certainly a plus.

Both Bluevine and NBKC offer a complimentary debit card for your business account, though there may be a replacement fee if you happen to lose it.

The only notable fee you might come across is the outgoing wire transfer fee, which is competitively priced by both banks (some banks charge as much as $30 for this service).

In summary, whether you choose Bluevine or NBKC, you can count on an affordable business bank account that suits your needs.

Best Checking Account: Bluevine

While both Bluevine and NBKC offer business checking accounts at the same cost, Bluevine stands out as the superior choice for business checking overall.

The key differentiator? Interest. Bluevine's business checking account earns interest, whereas NBKC's business checking does not.

In fact, with a Bluevine business checking account, you can earn up to a 4.25% interest rate on your account balance (up to $250,000), and there's no minimum balance requirement to start earning.

Admittedly, up to a 4.25% interest rate may not dramatically impact your business, but why pass up the opportunity to earn more from the money you keep in your bank account?

Furthermore, Bluevine's business checking account comes with additional appealing perks, including two complimentary checkbooks. Plus, depositing cash into your online banking account is hassle-free with Bluevine—all you need to do is visit a Green Dot location. (While NBKC may offer the option to make cash deposits via a MoneyPass ATM, you'll find Green Dot locations more readily available in most neighborhoods.)

In summary, if your primary requirement is a free business checking account, Bluevine is the ideal choice. However, if you need any other type of business or personal bank account, NBKC is worth considering.

Best Other Banking Services: NBKC

Bluevine exclusively provides business checking accounts and does not offer savings or personal accounts.

In contrast, NBKC offers a comprehensive range of banking services. For business banking, NBKC provides business savings accounts, including options such as money market savings accounts and certificates of deposit.

NBKC also extends its services to business credit cards, offering four distinct options that include cash rewards, points rewards, or lower APR (annual percentage rate).

NBKC also offers various business banking services, including:

• Cash management
• Collections
• Disbursement
• Fraud management

Moreover, NBKC provides a complete suite of personal banking products, encompassing:

• Personal checking accounts
• Personal savings accounts
• Personal credit cards
• Personal loans

In summary, NBKC offers a more extensive suite of banking services compared to Bluevine, making it a suitable choice for both business and personal banking needs, with the exception of business loans.

Best Business Financing: Bluevine

Both NBKC and Bluevine extend small-business loan options.

To its merit, NBKC provides a diverse array of business loan choices, including term loans, equipment loans, lines of credit, real estate loans, and even SBA business loans. However, it's worth noting that NBKC's funding is primarily accessible to businesses operating in the vicinity of Kansas City, which can be limiting. Additionally, NBKC typically requires a good credit score and two years of business history.

On the other hand, Bluevine offers business lines of credit and invoice factoring services to businesses nationwide, making it more accessible on a broader scale. Bluevine is also more accommodating to younger businesses and business owners with less-than-perfect credit, particularly for invoice factoring.

It's important to highlight that you don't necessarily need to use Bluevine as your business bank to avail of its lending services, and the same applies to NBKC.

In conclusion, if you're considering either Bluevine or NBKC for their financing products, we believe that Bluevine presents a more attractive option, primarily due to its wider availability.

Why Choose BlueVine Business Checking?

There are many reasons that you might consider opening an account with BlueVine over NBKC.

You want to earn interest

One major perk of BlueVine’s business checking is that it offers interest on your account balance. At the time of writing, the rate is 4.25%, which is better than you can get from many savings accounts.

BlueVine pays interest on balances up to $100,000 and you can qualify by spending $500 a month on your debit card or receiving $2,500 per month in payments. These requirements are relatively simple to meet, meaning your company can earn interest easily.

Your company needs a line of credit

A line of credit is a type of loan that functions very similarly to a business credit card. You get access to a pool of funds that you can draw from when you need extra cash. You only pay interest when you have an outstanding balance and can withdraw cash multiple times.

BlueVine offers lines of credit to its business checking customers. Interest rates are low, and the line of credit can be as much as $250,000. That flexibility can be highly beneficial to companies that find themselves needing extra cash on occasion.

You use QuickBooks for invoicing

QuickBooks is one of the most popular small business applications out there. BlueVine offers integrations between its business checking account and QuickBooks.

That integration makes it easy to view your bank account and QuickBooks information from a single dashboard. It also makes invoicing and receiving payments simple.

Why Choose NBKC Business Checking?

There are many benefits to working with NBKC for your business checking account.

You want to make cash deposits

NBKC offers free cash deposits at any MoneyPass ATM that accepts deposits. There are more than 37,000 fee-free MoneyPass ATMs in the United States, so you’re likely to have no problem finding a convenient way to deposit cash to your business checking account.

You live in Kansas City and want access to a branch

Prior to rebranding and NBKC, NBKC was the National Bank of Kansas City. If you happen to live in Kansas City, that means you’ll have access to the company’s four branches.

If you live in the area and like the idea of having the option to visit a bank in person to ask questions or get help with your account, this can be a major perk.

You want access to other business services

NBKC is a full-service bank, offering a variety of personal and business banking services.

On top of a business checking account, your company can work with NBKC to open a Certificate of Deposit or money market account. NBKC also offers cash management services, help with collections, fraud management tools, and fund disbursement for things such as payroll, taxes, and the like.

You need business financing

While BlueVine offers a great line of credit, NBKC has a wider array of business financing options, including:

• Secured lines of credit
• Real estate line of credit
• Small business loans
• Equipment loans
• Commercial loans
• Construction loans
• Real estate loans
• SBA loans

With NBKC, you get access to almost every type of financing your company could need.

Expert Insights

Industry experts emphasize the importance of choosing a bank that aligns with your business operations. For instance, a tech startup might benefit from BlueVine’s high-yield accounts and digital tools, while a retail business may prefer NBKC’s extensive ATM network and branch access.

User Perspectives

Feedback from current users highlights BlueVine’s efficiency in digital banking and ease of use, making it popular among online businesses. Conversely, NBKC’s customers often cite the advantage of having optional branch access and personalized customer service, which is crucial for businesses preferring direct interaction.

Bottom Line

Choosing BlueVine vs. NBKC can be difficult, but the truth is that both offer great checking accounts that almost any business could benefit from. The differences are largely in the additional services that each offers.

In general, if you use a lot of cash, NBKC will likely be better due to the ease of cash deposits. On the other hand, BlueVine might be better for online companies that want to benefit from their checking account balance by earning interest.

Before you settle on one or the other, make sure to take a look at other options as well. Comparing as many business bank accounts as possible will help you choose the best one for your company.

Compare BlueVine to Other Banks:

• BlueVine vs Mercury Bank
• BlueVine vs Axos Bank
• BlueVine vs Novo Bank

Frequently Asked Questions

Is Bluevine a good bank?

Yes, Bluevine can serve as an excellent banking choice for many businesses. In fact, it ranks among our top recommendations for small-business checking.

However, it's essential to bear in mind that Bluevine exclusively provides checking accounts. If you require a savings account or other business banking services, you may find it necessary to explore alternative banking options.

What bank is best for small-business checking?

Bluevine stands out as our preferred choice for small-business checking. Its advantages include minimal account fees, the absence of a monthly maintenance fee, interest earnings, and valuable complimentary features such as free checkbooks.

What bank backs Bluevine?

Bluevine collaborates with two distinct banks. Coastal Community Bank supports Bluevine checking accounts, whereas Celtic Bank backs Bluevine lines of credit.