BlueVine also makes it easier to access your business bank account than Novo does.
Take cash deposits, for example. Like many online banks, Novo doesn’t have an easy way to accept cash. Sure, you can go buy a money order and then do a mobile deposit of that money order―but that’s a lot of steps. BlueVine makes things at least a little easier by letting you deposit cash at any Green Dot location (usually found in grocery stores, convenience stores, and other retailers).
BlueVine makes it easier to spend the money in your bank account too. It gives you two free checkbooks when you open your BlueVine business checking account. Novo will send checks on your behalf (by request), but if you want an actual checkbook, you’ll have to pay for one from a third party.
Likewise, as we mentioned earlier, BlueVine lets you send wire transfers from your account (perfect for when you need to get someone money the same day). Novo doesn’t give you that option.
Now, Novo does have a slight advantage when it comes to ATMs. Novo refunds all ATM fees to your bank account, so you can use any ATM you want. BlueVine doesn’t do that, but it does have a large ATM network with more than 38,000 ATMs―so you should still be able to easily withdraw cash without paying an ATM fee.
Put simply, between the cash deposits, free checkbooks, and wire transfer capabilities, we think BlueVine business banking offers more of the kinds of access small-business owners need.