Relay Overview

Relay is a business banking platform great for enterprises of all shapes and sizes. The company offers up to 20 checking accounts and 50 physical or virtual debit cards for your business. It has no monthly or overdraft fees or minimum balance requirements, and it integrates with many accounting and payroll tools your business may already use. While there are no physical branches, Relay lets you withdraw and deposit for free at over 55,000 AllPoint ATMs throughout the U.S. The company also has great reviews and an intuitive mobile app.

Relay at a Glance

Suitable For?

Relay is a solid choice for businesses that want a no-fee business checking account with no minimum balance requirement.

Relay is also great for larger businesses that need multiple bank accounts and cards to manage and organize their finances. The company lets you open up to 20 accounts for your business and up to 50 virtual or physical debit cards for your team.

Relay’s extensive list of integrations makes it a great choice for businesses that use various types of business software.

Features/Highlights

Advantages over traditional banks

One of the main advantages of using Relay over traditional bank accounts is the absence of a monthly fee. In addition, there are no minimum balances or overdraft fees, and it doesn’t charge for ACH transfers, bounced checks, or incoming wires.

Also, outgoing wires are much cheaper than with traditional banks—with a flat fee of $5 for sending domestic wires and $10 for sending international wires. You can also open and start using an account right from home, without having to go into an office or get on a call.

Cutting-edge banking services

The Relay app lets you manage business finances from anywhere and on a variety of devices. It includes features like mobile check deposit, comprehensive data for payments/transfers, and user permissions management.

You can also use role-based permissions to delegate different business banking and money management tasks. This enables you to restrict access so team members only see/use the features and data they need to do their job.

If your business uses tools like QuickBooks and Xero, Relay can seamlessly integrate with them, too.

Traditional banking services

While it has no physical locations, Relay provides some traditional banking services. For example, you can use any of the 55,000 AllPoint ATMs to deposit or withdraw funds for free. The company also enables you to send and collect funds through ACH transfers, wires, and checks. It also offers a business savings account that can earn between 0.97%-2.83% APY.

Relay offers up to 20 different checking accounts (10 for sole proprietorships) and up to 50 debit cards. So instead of having everything flow in and out of a single account, you can use multiple accounts to separate different expenses and sources of income, streamlining fund allocation and tracking.

Interest rates and fees

The Relay business checking account has no monthly fee, no minimum balance requirement, and no overdraft fees. There’s no charge for bounced checks, no-fee ACH transfers, and you can get free cash deposits at all eligible AllPoint ATMs.

In addition to its free business bank account, Relay offers two premium accounts called Relay Grow and Relay Scale. The Pro plan is $30 per month and the Scale plan is currently $90 per month. Both of the premium plans include higher APY rates on savings and lower fees on services including same-day ACH transfers, domestic wires, and international wires.

Customer service and online experience

Signing up for an account and using the app/website is straightforward.

If you’re having trouble, Relay offers customer service via email or over the phone at 1-888-205-9304. Phone support hours are 9am - 8pm ET, Monday-Friday, while email support is 7 days a week. Relay has a goal of getting back to all emails on the same day, generally within a few hours. Wait times for phone support are typically under 3 minutes.

The website includes an FAQs page and a comprehensive support center that covers everything from how to set up your account to how to send and receive money.

The company has mainly positive reviews and maintains a 4.5/5 rating on Trustpilot based on 2,821 reviews. Users highlight the support, reliability, and sign-up process as strong points.

Mobile app

The Relay mobile app is available for both iOS and Android devices, and has a 4.8 rating on the Apple App Store and a 4.6 on the Google Play Store. The app is intuitive, looks great, and contains several outstanding features. These include the ability to deposit checks on the go, view balances and transaction data, manage debit cards, and send or receive payments.

Security

Relay takes your security seriously and offers 2-factor and biometric authentication to protect your account. It also offers tips on how to improve account security, such as using strong passwords, frequently reviewing transactions, and watching out for phishing.

The company uses AES-256 encryption to protect data, has a dedicated security team, and performs regular penetration tests to identify and fix potential security vulnerabilities. It has an in-depth privacy policy that covers the information it collects, what it’s used for, who it’s shared with, and more.

Accounts are FDIC-insured, protecting your deposit accounts for up to $3M if the bank fails. Relay is a financial technology company rather than a bank, so its FDIC insurance and bank offerings are provided through Thread Bank.

Application Process

Applying for an account is easy and done entirely online. To get started with Relay, you need to:

• Click “Sign Up” on the website and create an account by providing your name, phone number, date of birth, email, and password.
• Next, you’ll have to offer information about the business owner, such as their social security number, position/title, and personal address.
• The following page requires your business information, including the name and type of business, employer identification number (EIN), industry, revenue, website, and number of employees.
• The next few pages are all about verifying your identity and phone number, as well as providing documents to verify the things you’ve shared about your business. For example, you may be required to share your EIN verification letter to prove it’s legitimate.
• Other types of documents that could be required (depending on your business type) include articles of incorporation, articles of organization, and company bylaws.

Relay Summary

Relay is a no-fee business banking platform that helps you consolidate your business finances. You can send and receive funds, have up to 20 checking accounts to manage and organize cash flow, and view detailed data on all of your business’s payments.

There are no overdraft fees or minimum balances, and you can issue up to 50 debit cards to your team. Add in the solid reviews and security the company provides, and you have a great option for business banking.

Physical Address

60 Adelaide East, Suite 700 Toronto, ON, M5C 3E4

590 Madison Avenue New York City, NY, 10022

Disclaimer

* Your deposits qualify for up to $3,000,000 in FDIC insurance coverage when Thread Bank places them at program banks in its 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://thread.bank/sweep-disclosure/ and a list of program banks at https://thread.bank/program-banks/. Please contact customerservice@thread.bank with questions on the sweep program. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply.

1. Relay is a financial technology company and is not a bank. Banking services provided by 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 anywhere 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 cards are accepted. FDIC insurance is available for funds on deposit through Thread Bank, Member FDIC. Pass-through insurance coverage is subject to conditions.

2. The interest rates and annual percentage yield on your account are accurate as of 09/18/2025 and are variable and subject to change based on the target range of the Federal Funds rate. Fees May Reduce Earnings.

For customers with accounts opened on or after 4/29/25 or existing customers that have been migrated to Relay’s subscription plans, APY will vary between 0.97% and 2.83% depending on the subscription plan you are subscribed to:

- When you are subscribed to the Starter Plan, the interest rate on your savings accounts is 0.97% with an APY of 0.97%

- When you are subscribed to the Grow Plan, the interest rate on your savings accounts is 1.63% with an APY of 1.65%.

- When you are subscribed to the Scale Plan, the interest rate on your savings accounts is 2.82% with an APY of 2.86%.