The past decade has witnessed a surge in digital banking solutions, particularly for small businesses. Traditional banks, with their brick-and-mortar locations and rigid processes, often struggle to meet the expectations of business owners who organize their lives and businesses through flexible, constantly improving apps and services. Businesses crave agility, accessibility, and features that streamline their financial operations. Enter fintech companies like Bluevine. 

Bluevine offers online business banking solutions, including checking accounts, lending products, and bill pay functionalities. While it caters to a specific niche of business banking, it’s not the only player in the game. This article explores six top Bluevine alternatives for small businesses.

Meet the Best Bluevine Alternatives

While Bluevine is well known in the world of digital small business banking, it’s not the be-all and end-all solution for every small business. As we explore alternatives, our focus will be on platforms that excel in features, competitive fees, and a seamless user experience. We’ll delve into the specifics of each platform, highlighting their strengths compared to Bluevine and acknowledging any potential drawbacks to consider. 

1. North One

North One takes a relationship-driven approach to digital banking for small businesses. They understand the unique challenges faced by entrepreneurs and offer a suite of tools designed to empower them. North One goes beyond simply processing transactions; they provide financial insights, educational resources, and nearly instant access to North America-based customer service by chat.

A standout feature from Bluevine is North One’s tiered fee structure that scales with your business needs. This makes them a budget-friendly option for startups and early-stage businesses. Additionally, North One integrates seamlessly with popular accounting software like Xero and QuickBooks, streamlining your financial management. While Bluevine offers lines of credit, North One focuses on building long-term financial wellness for your business through term loans, lines of credit and banking solutions.

Distinguishing Features

  • Tiered fee structure to scale with your business needs
  • Integrates with popular accounting software like Xero and QuickBooks
  • Focuses on building long-term financial wellness for your business

2. Novo

Novo embraces a mobile-first approach to small business banking, perfect for the on-the-go entrepreneur. Their intuitive app allows you to manage your finances, send and receive payments, and issue virtual debit cards – all from your smartphone. Novo prides itself on exceptional customer support, offering 24/7 live chat and phone assistance.

Compared to Bluevine, Novo shines with its lack of monthly fees—a major perk for businesses of all sizes. Novo also integrates with popular invoicing and receipt capture tools, simplifying your bookkeeping processes. It’s important to note that Novo currently doesn’t offer high-yield checking or business loans, features that might be important for established businesses that Bluevine caters to.

Distinguishing Features

  • Free mobile-first banking with 24/7 live chat and phone support
  • Integrates with popular invoicing and receipt capture tools
  • No monthly fees – a major perk for businesses of all sizes

3. Lili Bank

Lili Bank takes a unique approach to small business banking by combining financial services with tax and bookkeeping tools. This all-in-one platform is ideal for freelancers, sole proprietors, and small businesses that wear multiple hats. Lili offers automated tax savings features, helps categorize expenses, and streamlines the process of filing your taxes.

Where Lili Bank differentiates itself from Bluevine is its focus on tax and financial wellness. With Lili, you can set tax-saving goals, track deductible expenses with ease, and even pay estimated taxes directly from your account. While Bluevine offers robust features for established businesses, Lili Bank caters specifically to the needs of the self-employed and early-stage entrepreneurs.

Distinguishing Features

  • All-in-one platform combining banking with tax and bookkeeping tools
  • Automated tax savings features and expense categorization
  • Streamlines the process of filing taxes directly from your account

4. Mercury

Mercury focuses on empowering businesses with powerful financial tools and integrations. Their platform offers features like unlimited ACH and wire transfers, international payments, and real-time transaction insights. Mercury prides itself on a transparent fee structure and eliminates hidden costs often associated with traditional banks.

Compared to Bluevine, Mercury offers a more comprehensive suite of international payment options. Additionally, Mercury boasts superior interest rates on its Treasury accounts, making it an attractive choice for businesses looking to maximize their returns on idle cash. However, it’s important to consider that Mercury doesn’t currently offer bill pay functionalities or business loans, features that Bluevine provides.

Distinguishing Features

  • Unlimited ACH and wire transfers, international payments, and real-time insights
  • Transparent fee structure with no hidden costs
  • Superior interest rates on Mercury Treasury accounts

5. Brex

Brex caters specifically to high-growth startups and scales with your business’s needs. They offer a corporate credit card with generous spending limits and rewards programs specifically tailored for startups. Brex also provides venture debt financing solutions, making them a one-stop shop for financing your scaling business.

Where Brex stands out from Bluevine is its laser focus on high-growth startups. Their underwriting process is designed for young companies with significant growth potential. Additionally, Brex offers employee stock option (ESO) management tools, a valuable perk for startups attracting and retaining top talent. However, Brex might not be the best fit for established small businesses or those with more modest financial needs.

Distinguishing Features

  • Corporate credit card with generous spending limits and startup-tailored rewards
  • Venture debt financing solutions for high-growth startups
  • Employee stock option (ESO) management tools for attracting top talent

6. Relay

Relay positions itself as a comprehensive financial management platform designed specifically for small and medium-sized businesses (SMBs). They offer a robust suite of features built around streamlining financial operations and empowering collaborative team management. Relay is often cited as one of the top competitors to Bluevine, and the two offer many of the same features and functionalities. 

Relay outperforms Bluevine in integrating with popular accounting software like Xero and QuickBooks to facilitate seamless bookkeeping and tax preparation. Business owners can also issue up to 50 virtual or physical debit cards to team members with customizable spending limits, promoting responsible expense management. That said, it’s worth noting that Relay requires a business banking relationship, unlike some of the other Bluevine alternatives on this list.

Distinguishing Features

  • Up to 20 individual checking accounts for organized cash flow management
  • 50 virtual or physical debit cards with spending limits for team members
  • Integrates with popular accounting software for streamlined bookkeeping

How to Choose the Best Bluevine Alternative

If Bluevine doesn’t give you everything you’re looking for, chances are you’ll find what you need from any of the six Bluevine alternatives listed above. But, with so many compelling options available, choosing the ideal digital banking partner for your small business requires careful consideration. 

Start by identifying your core needs. Are you a high-growth startup seeking venture funding and a fancy credit card (Brex)? Do you prioritize tax automation and expense tracking (Lili Bank)? Perhaps unlimited international transactions and real-time insights are your priorities (Mercury). Once you understand your core needs, evaluate fee structures, integration capabilities with your existing software, and the level of customer support offered. 

Finally, factor in your business’s stage of development and future plans. By prioritizing your needs and aligning them with the distinct strengths of each platform, you’ll be well-equipped to choose the Bluevine alternative that propels your small business forward.

North One Helps Small Businesses Bank Better

The world of small business digital banking offers a wealth of options for small businesses, each catering to specific needs and stages of growth. While Bluevine provides a robust platform for established businesses, North One stands out for its commitment to fostering long-term financial wellness for entrepreneurs. If you’re a small business owner seeking a supportive partner to navigate your financial journey, North One might be the perfect fit for you.

Learn more about the many benefits of opening a North One business bank account today and see for yourself just how simple digital business banking can be.