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Relay is a financial technology company offering FDIC-insured business banking services through Thread Bank. It provides a fee-free business checking account that allows businesses to open up to 20 sub accounts and issue up to 50 debit cards. Relay is particularly suited for businesses that need to track expenses, delegate financial tasks, and integrate banking with accounting software like QuickBooks and Xero. Upgrading to Relay Pro ($30/month) provides additional features, including free wire transfers and accounts payable automation.

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Written by:Casey Newton

Top Benefits

  • No monthly service fee for standard accounts;  
  • ACH Fees: Free (1-2 days for Standard, same-day for Pro) 
  • ATM Fees: Free at AllPoint ATMs 
  • Overdraft Fees: None 

Accounts Payable Automation
 Relay Pro automates bill payments by importing invoices directly from QuickBooks and Xero. You can set multilevel approval workflows for payments, ensuring greater control over cash flow. This feature is particularly beneficial for businesses with larger teams or those processing a high volume of payments. 
 

Vendor Payments
 Relay offers streamlined vendor payments through fee-free domestic and international wire transfers with Relay Pro. Users can also issue payments via ACH or checks. Relay’s interface allows businesses to automate payment scheduling and approval processes, simplifying vendor management. 

Transactions
Relay provides unlimited transactions with no fees for both ACH transfers and check payments. It also allows instant internal transfers between subaccounts, making it easy for businesses to manage their finances across multiple departments or categories.

Safety and Security
Relay accounts are FDIC-insured for up to $3 million through its partner, Thread Bank. The platform also offers customizable user permissions, allowing business owners to assign specific roles and access levels to team members. This ensures that only authorized individuals have access to funds and transaction capabilities. 
 

Mobile App
Relay’s mobile app allows users to perform essential banking functions such as viewing account balances, issuing debit cards, setting transaction limits, depositing checks, and sending payments. The app is highly rated on both the App Store (4.7) and Google Play (4.4) and provides a user-friendly experience for managing business finances on the go.
 

Who Should Use This Business Checking? 

Relay is ideal for small- to medium-sized businesses that: 

  • Need multiple sub accounts to manage expenses such as taxes, payroll, and operations 
  • Regularly delegate financial tasks to team members or advisors 
  • Frequently handle wire transfers and vendor payments 
  • Require seamless integration with accounting software like QuickBooks or Xero 

How to Open an Account 

You can open a Relay business checking account through their website or mobile app. Required information includes: 

- Name, date of birth, email, and phone number
- Government-issued ID and Social Security number (for US citizens)
- Business documents specific to your entity type (e.g., LLC, sole proprietorship) 

The account can be funded via ACH or wire transfer, and check deposits are supported through mobile deposit. 
 

Conclusion 

Relay Business Checking is a robust solution for small business owners who need an easy-to-use, fee-free banking platform with built-in accounting integrations and extensive features for managing multiple accounts and payments. While it lacks lending options, its accounts payable automation, multiple debit cards, and seamless accounting integration make it an excellent choice for growing businesses looking to streamline their financial operations.