Relay | Business Banking 4+

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!

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.

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.