Bluevine Expands FDIC Insurance Protection Up To $3 Million For Business Banking Customers

JERSEY CITY, N.J.–(BUSINESS WIRE)Bluevine, the one-stop digital banking platform specifically designed for small businesses, today announced expanded FDIC insurance coverage of up to $3 million through Coastal Community Bank, Member FDIC, and program banks in a sweeping network, automatically offering Bluevine account holders coverage of up to 12x the industry standard of $250,000. The sweep network, made up of seventeen FDIC member banks, will disperse Bluevine customers’ deposits across those program banks, while still providing uninterrupted access to all their funds within their Bluevine Business Checking account. Customers will continue to earn Bluevine’s industry-leading 2.0% interest rate on balances up to and including $250,000, with the peace of mind that their cash assets are protected.

“Our core mission at Bluevine is to make the financial operations of business owners easier, and offering enhanced protection on cash assets is an essential piece of that puzzle,” said David Quinn, CFO of Bluevine. “By spreading money across banks in a sweep network, Bluevine customers can benefit from expanded insurance coverage of their deposits without needing to manage multiple banking relationships themselves. Now, business owners with large balances can spend less time worrying about the security of their money, and more time scaling and growing.”

Bluevine customers will be automatically granted the additional FDIC insurance coverage that comes with the sweep network but will have the ability to opt out at any time. This new benefit follows several recent Bluevine releases that enhance the banking experience for small businesses. Notably, the company recently embedded accounts payable capabilities directly into its banking platform, giving small business owners and their teams sophisticated and streamlined bill management, automation, user access control, and enhanced payment capabilities. The company also recently added an international payments and FX solution in partnership with Wise, making international payments more convenient, simple, and transparent as small businesses continue to operate more globally with vendors, customers, and partners.

To learn more about Bluevine’s expanded FDIC insurance coverage through the sweep network, please visit Bluevine’s website or blog.

About Bluevine

Bluevine provides a one-stop digital banking platform specifically designed for small businesses. Since launching in 2013, Bluevine’s innovative and intuitive products, including business checking, integrated accounts payable, and lines of credit, have helped over 500,000 business owners save time and money so they can focus on what matters most: growing their business.

Bluevine is backed by leading private and institutional investors, including Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, ION Crossover Partners, SVB Capital, Nationwide Insurance, and M12 (Microsoft’s Venture Arm). Bluevine is a financial technology company, not a bank. Banking Services are provided by Coastal Community Bank, Member FDIC. Lines of credit are issued by Celtic Bank, a Utah-chartered Industrial Bank a member of FDIC. For more information, please visit bluevine.com or follow us on LinkedInInstagramFacebook, and Twitter.

Image by: Bluevine

Shopping Cart

Media Kit

    Data Protection

    Personal Data (“Data”) submitted for Media Kit (“Media Kit”), and/or collected in the form of first name, last name, email address and other contact details may be used for the purposes of inviting you to future events and for reaching out to you with content which may be of interest to you. For these purposes, The Digital Banker will share the Data with our associate companies (including event and content sponsors) to promote their products and services. You will also be automatically subscribed as a user on www.thedigitalbanker.com. If you would like to opt-out, email us at [email protected].

    By clicking Submit, you acknowledge that you consent/ have sufficient informed consent to the collection, use and disclosure of Data as set out above.

    The Digital Banker Summit

    Moving on from FTX: is 2023 the year of CBDCs?

    Indonesia, Jakarta

    Thailand, Bangkok

    Philippines, Manila

    Contact Us

      Data Protection

      The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

      Request Nomination Pack

        Data Protection

        The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

        Registration Form

          Data Protection

          The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

          Registration Form

            Data Protection

            The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

            Registration Form

              Data Protection

              The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

              Registration Form

                Data Protection

                The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                Registration Form

                  Data Protection

                  The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                  The world’s preeminent Private Banks and Wealth Managers are demonstrating a committed drive in innovation, advisory, new products and services to meet the sophisticated needs of their clients.

                  COVID-19
                  Amid economic activity revival on the back of the Covid-19 vaccine program, organisations moving from business continuity plans to stable working environments, together with the slightest improvement in unemployment numbers, forced the world to adjust to new realities. Coming to terms with the “new normal”, global investors are now on the look-out for attractive and stable investment opportunities.

                  Needs of Private Wealth customers and families worldwide have drastically changed due to the pandemic and banks have had to accelerate efforts to deploy a multi-channel service strategy and safeguard clients’ businesses and wealth against negative impacts of economic uncertainly.

                  The Global Private Banking Innovation Awards will recognise the world’s best private banks, wealth managers and asset managers that are championing innovation across advisory, service, products, customer experience and more.

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. 

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

                  Request Nomination Pack

                  Error: Contact form not found.