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Relay’s accounts come with several notable features that give it an advantage over traditional banks. It does not charge any checking account, overdraft, ATM, or minimum balance fees, nor does it require a minimum deposit to get started. Additionally, with access to up to 20 checking accounts and 50 physical or virtual debit Mastercards per account, Relay makes it easy for small businesses to share access and transfer funds.
Relay’s flexible access levels enable you to set up different logins for each user on your account and restrict their permission levels from read-only to full cash management. You can automate spending limits for team members and establish direct bank feeds to QuickBooks or Xero.
Relay Pro members gain access to upgrades including automatic import and one-click reconciliation of bills in QuickBooks and Xero. Additionally, Relay Pro lets you schedule multi-step rules for bill payments and send international and domestic wires for free.
Within its app, Relay makes it easy to send or receive payments via check, ACH, or wire. Its added security lets you freeze card transactions with the click of a button and review your transaction history quickly and easily.
Like most banks, Relay makes it easy for you to deposit, transfer, and manage your money. It offers mobile check deposits, ACH, and wire transfers through its app and provides free ATM withdrawals from 30,000 Allpoint ATMs nationwide. Deposits received via ACH or check are available within 1-2 days for Relay Standard users and same day for Relay Pro users.
That said, Relay does not currently provide alternative banking services such as retirement accounts, mortgages, or loans.
You can sign up for a free Relay Standard account or pay a monthly fee of $30 for a Relay Pro account. Accountants and bookkeepers can receive a discount of up to 27% through its Partner Program, based on the number of clients they have signed up with Relay. No matter what plan you choose, Relay does not charge any checking account, ATM, minimum balance, overdraft, or bounced check fees. However, deposits do not earn any interest, as its APY is 0.00%.
| Fees and Interest | Relay Standard | Relay Pro |
| Subscription fee | $0 | $30/month (discount available for accountants and bookkeepers through Partner Program) |
| Checking account fees | $0 | $0 |
| Minimum balance | $0 | $0 |
| Overdraft fees | $0 | $0 |
| Bounced checks fees | $0 | $0 |
| ATM fees | $0 | $0 |
| Sending Domestic Wire | $5 | $0 |
| Sending International Wire | $10 | $0 |
| APY | 0.00% | 0.00% |
Relay’s customer experience team is available via phone from 9am-5pm ET, Monday-Friday. It also offers email support 7 days a week at support@relayfi.com. Outside of regular business hours, you can get guidance from Relay’s FAQs page. Trustpilot gives Relay a rating of 4.4 out of 5 stars, with reviewers saying that it’s easy to sign up for and use its platform and that its customer experience team delivers excellent service.
For those who learn best by doing, Relay also offers a biweekly walkthrough every other Thursday at 2pm ET. This includes a full demo of Relay’s system and a live Q&A.
With the Relay mobile app, available on iPhone and Adroid devices, you can remotely deposit checks, send and receive transfers, and access your account on the go. It features biometric and 2-factor authentication to protect your account, and you can also manage your card permissions within the app.
All Relay accounts receive FDIC insurance up to $2.5 million*. To protect your account, Relay enables you to set up biometric or 2-factor authentication for your logins and to freeze lost or stolen cards within your account portal. Additionally, its cards are protected by Mastercard’s Zero Liability Policy, so cardholders will not be held responsible for unauthorized charges. However, it does not have a dedicated fraud team.
Relay is an online banking platform that helps small businesses, accountants, and bookkeepers to control their spending and manage their accounts payable and cash flow. You can open up to 20 checking accounts and order 50 physical or virtual debit Mastercards. Relay charges no checking account, minimum balance, ATM, or overdraft fees, and allows you to sync your bank account with integrations including QuickBooks and Xero. You can sign up for free or pay $30 per month for additional features, such as free international and domestic wires. Relay offers guided demos of its platform, and provides personalized customer service assistance during normal business hours.
This review was created based on information gathered from Relay’s website and third-party reviews.
*Relay is a financial technology company, not an FDIC-insured bank. Banking services and FDIC insurance are provided through Thread Bank and Evolve Bank & Trust; Members FDIC.The Relay Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa® debit cards are accepted.
