Terms of accrual interest: effective for accounts as of May 1, 2022    

Interest Rate for Customers That Meet Monthly Eligibility Requirements (See “Eligibility Requirements” below)1.5% Annual Percentage Yield (APY)
Balance Cap for Interest Accrual$100,000 maximum balance to earn interest 

Eligibility Requirements

To qualify for interest in a given calendar month, you must meet at least one (1) of the two (2) Eligibility Requirements during that month. The Eligibility Requirements are:

  1. Spend $500 in a calendar month with your Bluevine Business Debit Mastercard®. Debit transactions must post to your Account before the end of that month to qualify toward that month’s Eligibility Requirements; OR    
  2. Receive or deposit $2,500 of your clients’ payments into your Account and/or Sub-account(s) in a calendar month. Your clients’ payments may be made through ACH, wire transfer, Mobile Deposit, or as a transfer from your merchant payment processing provider. These transactions must post to your Account or Sub-account(s) before the end of that month to qualify toward that month’s Eligibility Requirements. No other activity will satisfy this Eligibility Requirement, including but not limited to, Mobile Deposits of checks drawn on accounts you hold at any institution, cash deposits, transfers from Sub-accounts, and transfers from any external account associated with you or your business. 

We reserve the right to reverse an interest payment if we determine in our sole discretion that an Eligibility Requirement was not met for any given month, including but not limited to a debit transaction reversal after the end of a month or a determination that a deposit was not related to a payment from your client.

If you do not meet at least one (1) of the two (2) Eligibility Requirements for a given calendar month, your interest will be 0.00% APY for that month. Eligibility Requirements are assessed on a monthly basis and must be met within each independent calendar month; activity during one calendar month cannot and does not carry over to any subsequent calendar month. Not meeting the Eligibility Requirements in a given month will not impact your ability to potentially meet them in a subsequent month. The payment of interest in any given month does not create any obligation on our part to pay interest on any subsequent month if the Eligibility Requirements are not met.   Some requirements may not be enforced as of May 1, 2022. Subject to change.

Interest Calculation

Interest is calculated as simple interest daily and credited monthly, using the total balance of Customer’s Account and Customer’s Sub-Account(s). Interest is computed on a calendar year basis. We pay interest only in whole cents. Therefore, at the end of each monthly interest payment period, any fractional amount of interest less than half of one cent will be rounded down and any fractional amount of interest equal to half of one cent or more will be rounded up to the next whole cent. If Customer closes Account before interest has been credited to Account on the regular interest payment date for Account, no interest for the final interest payment period will be paid for that period. If Customer’s Account is suspended, Account will accrue interest during the time Account is suspended. The payment of interest for a suspended Account, however, will only occur if and after Account is reactivated.

Interest begins to accrue for an Account or Sub-account on the business day we receive credit for the deposit. For cash, wire transfers, and electronic direct deposits, interest begins to accrue on the business day of the deposit. We use the daily balance method for calculating interest. This method applies a daily periodic rate to the balances of Account and Sub-account(s) each day a balance is maintained, which is based on its balance (also called your present or ledger balance). We reserve the right not to pay interest on any deposited item that is returned to us unpaid. Any interest accrued and payable for an Account or Sub-Account(s) will be paid to your Account. No interest earned on balances over $100,000.

Subject to Change

The interest payable on interest-bearing accounts, the qualifying conditions to receive interest, and the methods used to calculate interest are subject to change from time to time, and Customer will be given notice of any of these changes in accordance with applicable law.