BlueVine Business Checking Agreement: Everything You Need to Know
When it comes to managing your small business finances, opening a business checking account is a crucial first step. Not only does it provide you with a separate account to keep track of your business expenses, but it also helps you establish your business as a separate entity from yourself.
One online option for opening a business checking account is BlueVine. If you`re considering using BlueVine for your business banking needs, it`s important to understand the terms and conditions of the BlueVine Business Checking Agreement.
What is the BlueVine Business Checking Agreement?
The BlueVine Business Checking Agreement is a legal agreement between BlueVine and its business checking account holders. It lays out the terms and conditions of the account, including fees, usage restrictions, and other important information.
How to Open a BlueVine Business Checking Account
Before you can agree to the terms of the Business Checking Agreement, you`ll need to open a BlueVine Business Checking Account. The process is fairly straightforward and can be completed entirely online. Here`s what you`ll need to do:
1. Visit the BlueVine website and click on the “Open an Account” button.
2. Provide basic information about yourself and your business, including your legal business name, business entity type (sole proprietorship, partnership, LLC, etc.), EIN or SSN, and business address.
3. BlueVine will verify your information and run a credit check. If you`re approved, you`ll be able to open your account and agree to the Business Checking Agreement.
What are the Terms of the BlueVine Business Checking Agreement?
The BlueVine Business Checking Agreement includes a number of important terms and conditions that you should be aware of before opening an account. Here are some of the key provisions:
Fees: BlueVine charges a monthly maintenance fee of $15 for its business checking account. There are no minimum balance requirements, and the fee is waived for the first two months.
Transaction Limits: BlueVine imposes limits on the number of transactions you can make with your account each month. You can make up to 100 transactions per month, including deposits, withdrawals, and electronic transfers. If you exceed this limit, you`ll be charged a fee of $0.50 per transaction.
Mobile Deposits: BlueVine allows you to deposit checks using its mobile app. However, there are limits on the amount and frequency of mobile deposits. You can deposit up to $25,000 per day and up to $50,000 per month using mobile deposit.
ATM Access: You can use any ATM that accepts Visa debit cards to access your BlueVine Business Checking Account. However, BlueVine charges a fee of $2.50 for each out-of-network ATM withdrawal.
Electronic Statements: BlueVine provides electronic statements for your business checking account. If you want paper statements, you`ll be charged a fee of $5 per month.
Opening a business checking account is an important step for any small business owner. If you`re considering using BlueVine for your business banking needs, be sure to read and understand the terms of the BlueVine Business Checking Agreement. By doing so, you`ll be able to make informed decisions about your account and avoid any surprises down the road.