BlueVine launched business banking services for SMBs - Business Insider

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BlueVine is joining other neobanks and fintechs filling the gaps where incumbents fall short by addressing SMBs' lending needs:

The platform includes online account opening, a 1% interest checking account on balances above $1,000, and a corporate debit card for SMBs like restaurants and manufacturers. The offering is : BlueVine doesn't charge for minimum balances, in-network ATM withdrawals, insufficient funds, or minimum deposits.

Customers will also be able to see balances, make payments, transfer funds, and make remote deposits to checking accounts through the mobile app. BlueVine is partnering with The Bancorp Bank to offer banking services — the sponsor bank behind other neobanks like Varo.Incumbent financial institutions SMBs' lending needs.

To address those needs, SMB banking-focused fintechs have been emerging globally. US SMB digital banking providers include California-based neobank Mercury, which focuses on startups and recently

Source: News Formal (newsformal.com)

 

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