Relay | Business Banking 4+

Banking for small businesses

Relay Financial Technologies Inc

Designed for iPhone

    • 4.8 • 1.6K Ratings
    • Free

iPhone Screenshots

Description

Relay is online business banking that puts small business owners in complete control of their cash flow.

What Relay offers:

• 20 checking accounts to earmark cash for operations, payroll, taxes and more
• Multiple debit and credit cards—with built-in spend policies—to meticulously organize spending by team or project
• 1.5% cash back* on all credit card purchases, and savings accounts with up to 3.00% APY** to help you grow reserves
• All the payment types you could need—including ACH transfers, wires and checks (yes, including paper checks!)
• Automations—like maximum-balance transfer rules—that make money move for you so can focus on running your business

Plus, each business is insured up to $3M for funds on deposit via Thread Bank, Member FDIC.***


Learn more at relayfi.com.





Relay is a financial technology company, not a bank. Banking services are provided through Thread Bank, Member FDIC. The Relay Visa® Debit Card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa® cards are accepted. The Relay Visa® Credit Card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.

*Terms and conditions apply to the cash back rewards program. Cash back will be credited to your Relay checking account at the end of your 30-day billing cycle. ATM transactions, the purchase of money orders or cash equivalents made with your Relay Visa® Credit Card are not eligible for cash back. Please refer to https://relayfi.com/visa-signature-rewards-program-terms for more details.

**The interest rates and annual percentage yield on your account are accurate as of 9/18/2024 and are variable and subject to change based on the target range of the Federal Funds rate. APY will vary between 1.00%-3.00% depending on the balances held. Earn 1.00% APY on savings balances of less than $50,000, 1.50% APY on savings between $50,000 and $250,000, 2.00% APY on savings balances between $250,000 and $1,000,000 and 3.00% APY on savings balances of more than $1,000,000. There are no minimum balances or minimum deposits required to earn interest on your account.

***Your deposits qualify for up to $3,000,000 in FDIC insurance coverage when placed at program banks in Thread Bank, Member FDIC’s deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://go.thread.bank/sweepdisclosure and a list of program banks at https://go.thread.bank/programbanks. Please contact customerservice@thread.bank with questions regarding the sweep program.

What’s New

Version 2.11.1

In this release, we adding labelling that makes it clear when an external account connection being set up via Plaid is pending. We also corrected the cutoff times for depositing checks. Lastly, we fixed a bug impacting the date-of-birth validation for international payments.

Ratings and Reviews

4.8 out of 5
1.6K Ratings

1.6K Ratings

Romans 8:15 ,

Lots of positives, few issues

I’ve really enjoyed using Relay! I wanted to used the Profit First method and had a hard time finding a bank that wouldn’t charge for each account in some way. It is SO easy to set up a new account with Relay and there are no fees.

Most of my issues since switching to Relay have come from differences with my last bank, so it’s been more of an adjustment on my part than necessarily problems on theirs. The few things that have been a little difficult are: checks take 8-10 days to deposit, I can’t access my “pending” balance until it fully deposits (this was a feature with my old bank but not sure if that is an industry standard), and checks aren’t available with their accounts (not a huge deal but has caused some creative thinking on my end in a few situations).

Overall, I would definitely recommend Relay! Their customer service is great and it’s so easy to use. And it’s free!

Diminke ,

Perfect Solution for Business Accounts

After learning the Profit First system for e-commerce of setting up multiple accounts for each segment of the business and putting in certain percentages of each payout into inventory, expenses, owners comp, profit etc - I found Relay to be a perfect bank for this system. I was able to open multiple accounts online easily and quickly to implement the system which has had a positive impact on my business. I recommend Relay for any business. In addition they also have a great support team for any questions.

SituKaiba ,

Not friendly for new businesses. Good though, if you are switching business banks.

I run a small business, and I decided to try Relay due to their services and low fees compared to the bigger banks. Now, I understand there’s a lot of concerns about a lot of documents, forms and personal forms you need to upload, and the process taking weeks (which is true, but not a problem to me). However, one of the screening requirements ask for a business bank statement from a previous bank. Now why would Relay ask for a previous business bank statement if that’s the whole reason I’m applying for a BUSINESS Bank account? Unfortunately, they do not take personal bank statements that has business activity, so I guess my only recommendation would be that Relay is probably a good bank if you already own a business bank account and are looking to switch, but it seems they are unfriendly and un-eager to help and support new businesses.

App Privacy

The developer, Relay Financial Technologies Inc, indicated that the app’s privacy practices may include handling of data as described below. For more information, see the developer’s privacy policy.

Data Not Collected

The developer does not collect any data from this app.

Privacy practices may vary, for example, based on the features you use or your age. Learn More

Supports

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