Bluevine Agreement, Terms, and Policy Updates
In an effort to keep our customers informed, we have provided below a summary of the most recent updates to certain Bluevine agreements, terms, and policies. For complete details, read the full Account Agreement, Bill Pay Terms of Service, and/or Registration Terms.
Account Agreement Update – November 1, 2022
- Opening the Account (Section B(1)): Account owner parameters regarding age, location, business ownership, number of accounts, and business type.
- Our Right to Limit Transactions and Account Features (Section B(10)): Reputation concerns and description of inquiry process.
- Account Dormancy and Escheatment (Section C(12)): Dormancy policy for newly opened accounts.
- Transaction Limitations (Section D(5)): Restricted industry transactions and general debit transaction limitations subject to cash withdrawal limitations.
- Customer’s Acknowledgement (Section E(1)): Acknowledgment regarding bulk and scheduled transactions.
- Information Processing (Section E(4)): Customer upload of invoices or bills to Account including through special purpose email address provided to Account.
- Electronic Funds Transfer Disclosure and Special Terms and Conditions (throughout Section G): Addition of Same Day ACH and related items.
- Schedule of Fees (Section J): Addition of Same Day ACH.
- Mobile Deposit Limits and Availability of Funds (Section K(5)): Regulatory agreement about mobile deposits and partial funds availability.
- Prohibited Checks (Section K(6)): Checks from U.S. territories.
Registration Terms – July 10, 2022
- Changes throughout Registration Terms from “BlueVine” to “Bluevine.”
- General: Overview of services and partner banks.
- Required Hardware and Software: Minimum requirements and recommended versions for operating systems and browsers.
- Your Consent to Receive Automated Calls/Texts: Operation of text messages, short code program, opt-in procedures, and types of messages.
- Bluevine’s Business Network and Virtual Card Payments: Business Network directory, Participants, communications, and payment/payee/virtual card instructions.
- Third-Party Services or Products and Links to Other Websites: Customer responsibility for use of third-party services, products, and linked websites.
- Arbitration and Waiver of Jury Trial: Arbitration provision updated to align with Arbitration provision in Bluevine Business Checking Account Agreement.
- Jurisdiction and Severability: Severability and construal of Registration Terms.
- Updates to the Registration Terms: Registration Terms updates, acceptance, and continued use of Services.
- Notice to Married Applicants: Removed.
Account Agreement Update – May 1, 2022
- Our Right to Limit Transactions and Account Features (Section B(10)): Requests for additional information, cooperation, and limitations.
- Arbitration and Waiver of Jury Trial (Section I): Update to arbitration provision.
- General (Section M(1)): Interest page updates include interest rate and qualifying activity required for interest after May 1, 2022.
Bill Pay Terms of Service Update – February 22, 2022
- Eligibility Requirements (Section 1.3): User’s business entity domiciled in one of the fifty United States or the District of Columbia.
- Unauthorized Use (Section 1.5): User to comply with, among other things, OFAC sanctions laws, payment network rules, and Nacha Operating Rules. Bluevine and its banking services partner may audit or review compliance with the Agreement and Services.
- Supported Funding Methods and Payment Methods (Section 2.1): Payees can receive funds via ACH, wire, physical checks, and MasterCard’s RPPS.
- Supported Card Networks (Section 2.4): Cards issued by Visa®, MasterCard®, and Discover® may be used as Funding Methods.
- Funding Method Representations (Section 2.6): User agrees to comply with, among other things, laws administered by OFAC, payment network rules, and Nacha Operating Rules.
- Payment Authorization (Section 3.2): User authorizes Bluevine and Bluevine’s banking services partner to follow payment instructions submitted by User, including but not limited to authorization to originate Entries to Receivers.
- Arbitration and Waiver of Jury Trial (Section 7): Arbitration provision updated to align with Arbitration provision in Bluevine Business Checking Account Agreement.
- Fee Schedule (Section 8): Fee schedule for outgoing wire and Bill Pay with Credit Card Transaction fees.
Account Agreement Update – February 1, 2022
- Business Deposit Account (Section B(2)): Account and Sub-account are business deposit accounts.
- Sub-account (Section B(4) and throughout Account Agreement): Addition of Sub-account feature and related terms.
- Compliance with Laws and Regulations (Section B(6)): Customer indemnification of Bank and Bluevine for breach of provision.
- Deposits to the Account (Section C(1)): Deposits made to Account or Sub-account aggregated for determination of frequency and dollar limits.
- No Cash, Paper Checks or Foreign Currency (Section C(2)): Cash deposits not directly accepted. Reference to Deposits to the Account, Section C(1).
- No Overdrafts (Section C(9)): Negative balance, set-off, lien, security interest or expense repayment, and collection from Account or Sub-account after 60 days.
- Limitations of Bank’s Liability and Obligations to Customer (Section E(8)): Customer indemnification of Bank and Bluevine for third-party lawsuit or claim relating to Agreement.
- General (Section F(1)): Outgoing wire transfer fee charged to Account or Sub-account.
- Fees and Charges (Section F(8)): Outgoing wire transfer fee charged to Account or Sub-account.
- Compliance with Laws (Section F(9)): Customer representations regarding not being located in U.S.-government sanctioned country, not being designated a Specially Designated National or “terrorist supporting” country, not using Account or services provided by Bluevine or Bank to facilitate payments to a sanctioned country, person, group, or entity.
- Hours of Operation and Cut-Off Times (Section F(10)): Outgoing wire transfer requests received before 3:30 PM ET.
- Limitations on Transfers, Amounts and Frequency of Transactions (Section F(11)): Wire transfers from Account or Sub-account aggregated for frequency and dollar limit determinations.
- Transaction Limits (Section G(2)): ACH transfers from Account or Sub-account aggregated for frequency and dollar limit determinations.
- Schedule of Fees (Section (J)): Reference to Section C(1).
- Mobile Deposit Limits and Availability of Funds (Section K(5)): Mobile Deposits to Account or Sub-account aggregated for frequency and dollar limit determinations.
- Funds Availability Policy (Section L): Funds Availability Policy applies to Account and Sub-account.
- Same-Day Availability (Section L(4)): Funds from cash deposits made through third-party money transfer services available within two days of receipt of deposits. Reference to Section C(1).
- General (Section M(1)): Acknowledgement of Interest webpage. Interest page updates include aggregating Account and Sub-account balances for interest and maximum balance, interest on Account and Sub-account paid to Account, and includes qualifying activity required for interest after May 1, 2022.
- Subject to Change (Section M(3)): Interest calculation uses total balance of Account and Sub-account. Interest calculation provision from Section M(2) moved to Section M(3), defines Qualifying Account, interest on Account and Sub-account paid to Account.
Account Agreement Update – October 19, 2021
- Additional User (Section B(3) and throughout Account Agreement): Change of terminology to “Additional User” within Account Access feature.
- Deposits to the Account (Section C(1)): Frequency and dollar limits for qualifying transfers to Account via website or mobile app and cash transfers.
- No Overdrafts (Section C(9)): Negative balance payments and negative balance collection efforts.
- Cash Access (Section D(4)): $2.50 fee for each out-of-network (non-MoneyPass®) ATM transaction.
- Transaction Limits (Section D(5)): Frequency and dollar limits for debit card transactions.
- Limitations on Transfers, Amounts and Frequency of Transactions (Section F(11)): Frequency and dollar limits for outgoing wires.
- Transaction Limits (Section G(2)): Frequency and dollar limits for ACH transfers to an external account.
- Duty to Report (Section H(3)): Duty and procedures to examine periodic statements, and report unauthorized signatures, alterations, or forgeries involving physical checks.
- Schedule of Fees (Section J): $2.50 fee for each out-of-network (non-MoneyPass®) ATM transaction.
Account Agreement Update – October 4, 2021
- Our Agreement (Section A): Account cannot be used to provide banking or financial services to any third parties.
- Customer Support (Section A(6)): Bluevine’s Customer Support contact information.
- Transaction Limits (Section D(5)): Hold period for certain types of transactions (including, but not limited to, pay at the pump and travel & entertainment).
- Card Replacement and Expiration (Sections D(8)&(9)): Process of replacing a Bluevine Business Debit Mastercard; automatic mailing of new debit cards to users prior to the expiration date of previous cards.
- Information Processing (Section E(4)): Information and instruction processing.
- Wire Transfers (Section F(1)): Initiation of wire transfers via the Website or Mobile App.
- Arbitration (Section I): Full arbitration terms.
- Mobile Deposits (Section K(7)): Information regarding third-party checks without sufficient identifying information.
Account Agreement Update – September 1, 2021
- Bluevine entered into a new banking service partnership with Coastal Community Bank, Member FDIC.
- As part of the transition, in order to maintain a Bluevine Business Checking account, customers accepted the Account Agreement.