Running a business involves a lot of exactly that—running around. With so many tasks on your to-do list and only so many hours in the day, it’s important to find ways to be more efficient. Your business banking platform should help with that efficiency and make it easier to manage your money on your terms.
Grace Deffinbaugh is the busy Chief Financial Officer (CFO) of Timberdoodle Co., a family-owned business founded in 1985 by her parents, Dan and Deb. Since then, Timberdoodle has grown from a self-described “humble back-porch venture” into a multi-warehouse online curator of homeschooling resources.
According to a Washington Post article from 2023, homeschooling is the fastest-growing form of education in the United States. Timberdoodle was ahead of the trend, providing sought-after homeschooling materials to parents before they were readily available. Now, with more options than ever, the company’s focus has shifted to curating the best of the best—selling full curriculum kits and customizable packages to both parents and charter schools.
The problem
“When my dad retired,” Grace explains, “the business had some extra cash sitting, and we wanted to earn interest on it.”
On top of that, Grace realized she was spending too much time physically driving to a local credit union to deposit checks and handle basic banking tasks. Unfortunately, the credit union didn’t offer the digital banking tools or high interest rate the Timberdoodle team needed to make the most of their time and money.
Since Grace is also a foster mom on the side, it’s crucial that she’s able to do her job from the office, at home, and when she’s on the move. An easy-to-use online banking platform was the missing piece—and if she could find a checking account that helped maximize her interest earnings, she would make the switch in a heartbeat.
Check out the video below to see how Grace and Timberdoodle upgraded their business banking by switching to Bluevine.
The solution
Changing your business checking account can be scary, but Grace knew it was time to find a banking solution that worked. So, she searched through many online banking options, including traditional banks and fintechs, before deciding on Bluevine.
“Since switching to Bluevine, we’ve saved countless hours…” Grace says. “Onboarding was phenomenally easy. Mobile deposits are so easy to do, and online banking is so streamlined.”
Now, with convenient mobile deposits, Grace can deposit checks from her phone instead of traveling to and from a physical branch. She can also connect her Bluevine Business Checking account to QuickBooks Online® and sync bills, transactions, and payees.BVSUP-00056
“I can bring my phone with me and access the Bluevine app. I don’t have to worry about who I should give access to when I’m out of the office—I can take the office with me.”
The time Timberdoodle saves by using Bluevine allows Grace to spend more time with her foster children. She also cites the ability to earn interest as one of her favorite things about the banking platform.BVSUP-00118
“Bluevine offers a high-interest account with higher limits than most banking platforms put on it. I love that sub-accounts also earn interest.”BVSUP-00053
Did you know?
Sub-accounts are similar to your main account and help you budget more effectively for growth, payroll, taxes, and emergencies. With the standard plan, you can add up to five sub-accounts.
Leveling up their business checking plan
With Bluevine, Grace has opted for an upgraded business checking plan called Bluevine Premier. Our Premier plan comes with supercharged benefits for small businesses, including:
- A higher annual percentage yield (APY) on higher balancesBVSUP-00116
- Discounts on Standard plan payment fees
- Priority customer supportBVSUP-00119
- And more
“We are a Bluevine Premier customer because of the higher interest rate it affords us,” Grace says, “and because it allows us to have a higher account balance that we’re still making the interest on…so we can make money off everything we have sitting there.”BVSUP-00116
Timberdoodle also uses the Bluevine Business Cashback Mastercard® to help waive the monthly fee for our Premier plan. By spending at least $5,000 each billing period with their Bluevine credit card and maintaining a balance of at least $100,000 in their Bluevine Business Checking account, Timberdoodle saves $95 a month.BVSUP-00117
When asked if there’s one thing she would tell fellow business owners about Bluevine, Grace concludes with: “Everything about Bluevine is well thought through, and they’re making continual advancements to make it better, so we really appreciate that.”
Choose a business checking plan that fits your company’s needs.
Grace Deffinbaugh is the CFO of Timberdoodle Co., a family-owned business that specializes in curating the highest-quality homeschooling resources.
