FDIC insurance limit up to $3M.
Manage your business finances knowing that your deposits are FDIC-insured up to
$3 million—that’s 12x the standard deposit coverage limit— through Coastal Community
Bank, Member FDIC and our program banks.BVSUP-00108
Bank with confidence.
Extra peace
of mind.Increased FDIC insurance means your deposits are diversified across
multiple banks and covered up to $3M.12x the FDIC
protection.Get up to 12x the standard coverage
of $250,000 without the hassle of managing multiple accounts.Better protection,
same experience.The Bluevine dashboard experience remains the same, so it’s easy to
manage and move money for new
and existing customers alike.
How it works.
By partnering with a trusted sweep network, we’re able to strategically spread your deposits across multiple banks to expand your FDIC coverage up to $3 million. You’ll be able to see how your funds are distributed on your monthly statements, and you can access all of your deposits at any time.
How does FDIC insurance differ for a bank vs. a fintech?
There are slight differences in the ways traditional banks handle your money vs. how fintechs do—but your FDIC-insured money is protected either way. Learn more about the nuances in this article.
Security FAQs
FDIC stands for “Federal Deposit Insurance Corporation,” an independent agency created by Congress to maintain stability and public confidence in the nation's financial system. One of its main purposes is to protect you from the loss of your money in the case of a failure of an FDIC-insured financial institution. When your money is FDIC insured, you can rest assured that should anything happen to the institution holding it (or the fintech you’re using, like Bluevine), your money will still be yours for you to claim.
The standard amount of FDIC insurance is up to $250,000 per depositor per FDIC-insured bank. Some fintechs, like Bluevine, offer additional FDIC protection through a sweep network, which distributes your deposits across multiple FDIC-insured banks to expand your coverage. If you have a business checking account through a fintech that uses a sweep network, you might enjoy FDIC insurance that goes well above the $250,000 standard amount. For example, Bluevine Business Checking accounts are FDIC insured up to $3 million through Coastal Community Bank, Member FDIC and our program banks.
Yes, Bluevine accounts are FDIC insured up to $3,000,000 per depositor through Coastal Community Bank, Member FDIC and our program banks. $3,000,000 in FDIC insurance is offered by multiplying the standard $250,000 FDIC coverage across multiple banks. Visit here for more details.
Yes—like with any fintech that partners with a member FDIC bank, your funds are still covered by FDIC insurance through the partner bank(s) if there is a failure. In that scenario, you would need to go directly to our partner bank, Coastal Community Bank, Member FDIC, to access balances from any accounts you held through Bluevine.
Learn more about how your money is protected by fintechs vs. traditional banks.
You’ll be able to see exactly where your money is on your monthly statements. Our program banks are part of a trusted sweep network, which allows your money to be held by multiple banks so your funds are FDIC-insured up to $3 million.
Yes—new and existing customers automatically receive $3 million in FDIC insurance, but you’ll be able to opt out by contacting customer support. If you opt out of expanded coverage, your FDIC coverage will revert to the standard amount of $250,000.
A sweep network is a secure network of partner banks that allows us to strategically distribute your Bluevine Business Checking balances. This way, your funds are held by multiple trusted, FDIC-insured banks within the network, and you can manage your finances more confidently knowing that your deposits are protected up to $3 million instead of the standard limit of $250,000.
More about Bluevine
Business Checking.
Ready to apply for
business checking?
Submit your application in just a few minutes.BVSUP-00006