Relay · Fintechs and neobanks
Relay Business Checking review
Relay is built for cash management: up to 20 separate checking accounts let you set aside money for taxes, payroll and operating costs. The Starter plan is free, savings interest rises with paid plans (1.11% to 3.00% APY), and deposits are FDIC-covered up to $3M.
Who Relay is best for
Businesses that budget with separate accounts and teams using Profit First-style cash management.
Businesses wanting interest on checking.
Relay is built for cash management: up to 20 separate checking accounts let you set aside money for taxes, payroll and operating costs. The Starter plan is free, savings interest rises with paid plans (1.11% to 3.00% APY), and deposits are FDIC-covered up to $3M. Checking balances themselves don’t earn interest.
Fees, features and eligibility
| Interest on balances | Savings APY 1.11% (Starter), 1.75% (Grow), 3.00% (Scale); checking earns no interest |
|---|---|
| Monthly fee | $0 (Starter); $30 (Grow) |
| Transfers | Domestic wires $8 on Starter, $5 on Grow |
| Account type | Fintech account (partner banks) |
| Deposit protection | FDIC coverage up to $3M |
| Currencies | USD |
| Who can open it | US businesses |
Source: Relay published product information.
What stands out
Pros
- Up to 20 checking accounts
- Free Starter plan
- FDIC coverage up to $3M
Cons
- No interest on checking
- Wire fees on Starter
Relay: common questions
Does Relay pay interest?
On savings, not checking: 1.11% on Starter, 1.75% on Grow and 3.00% on Scale.
How many checking accounts can I open?
Up to 20.
What does a Relay domestic wire cost?
$8 on Starter and $5 on Grow.
Used Relay? Help other businesses choose.
