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Relay Financial business banking review

Give access to multiple team members, but some bill pay features aren’t free.’s rating: 4.2 / 5.0


A Relay business account lets you open multiple checking accounts and issue up to 50 Mastercards with the option to set spending limits, keeping entire teams connected and accountable for the company’s finances.

$0 per month



Minimum deposit to open


Fee$0 per month
Minimum deposit to open$0
ATMsPull money from your account at any of Allpoint’s 32,000 ATMs nationwide without fear of getting charged fees

Review by

Sarah George is a staff writer at Finder who unravels complicated topics about insurance, business and finance. She's been wordsmithing for nearly five years, after earning an English education degree. Her insurance know-how has been featured on You can usually find Sarah sipping hot tea and talking through movie plots in her downtime.

Expert review

A Relay business banking account is best for large or growing businesses that need a comprehensive platform. It offers serious flexibility with company finances by giving team members access to their own physical or virtual debit card.

Create up to 20 checking accounts to categorize finances or give individual teams their own account. Then, issue Mastercard debit cards to as many as 50 people with the ability to limit daily spending and ATM withdrawals.

Plus, you won’t pay a monthly fee for these features or foreign transaction or ATM fees. There’s also no minimum opening deposit required.

The catch is that Relay offers automated bill payment features with its Pro account, and outgoing wire transfers aren’t free unless you have the Pro version. Relay Pro will set you back $30 monthly, though its cost may be worth it if you’ll use its automation.

If you don’t need the automated bill pay tools, you can choose to stick with Relay’s free account or checkout features with other business banking accounts. Other accounts may work best if your business doesn’t have many employees or if you don’t need employees to have access to company funds.

Relay Business Banking features and cost

Relay offers a host of features at no cost to you. However, you can pay for its bill pay options that help you automate paying bills and categorizing transactions for your convenience.

Account typeCostFeatures
Relay Standard$0
  • Up to 20 no-fee checking accounts
  • Up to 50 debit cards
  • Integrate with Quickbooks Online or Xero
  • Pay bills by direct deposit, wire transfer or check
  • Separate logins for team members
  • Set and automate spending limits
  • Online and mobile banking
Relay Pro $30 monthlyEverything in the Standard, plus:

  • 50 free direct deposits allowed per month
  • Automatically categorize paid bills in your transaction history
  • Import bill automatically from Quickbooks Online or Xero
  • Pay multiple bills in one, convenient transaction
  • Set up single or multi-step rules to approve bills
  • Set up bill pay workflows

How to open a Relay Financial business account

Apply online to open a Relay business bank account in minutes.

  1. From anywhere on Relay‘s website, select Sign up from the navigation menu.
  2. Enter your name, email address and whether you’re a bookkeeper.
  3. Create your account’s username and password, then agree to the Terms of Service. When you’re ready, select Create account.
  4. Enter information about the business and the business owner to set up a profile.
  5. Upload documents required to verify your business.
  6. Review all information, finish the application and fund your new business account.


Relay is available to businesses and business owners from sole proprietors to companies with 100+ employees, including sole proprietors, LLCs, general partnerships and corporations.

Required information

Keep this information handy during your application process.

  • Government-issued ID, like a passport or driver’s license
  • Employer Identification Number (EIN) verification letter
  • Articles of incorporation
  • Company bylaws
  • Information about all owners with 25% or greater ownership

5 benefits of a Relay Financial account

  1. Minimal fees. Unlike some business accounts, you won’t pay a monthly fee unless you upgrade to the Pro version. You also won’t pay for overdrafts or bounced checks or ATM fees, and its outgoing wire transfer fees are lower than most business accounts though not free.
  2. Up to 20 checking accounts. Categorize your business’s finances with as many as 20 accounts to keep your revenue, bills and taxes straight.
  3. Issue up to 50 debit cards. Give your team access to company funds as needed — up to 50 team members.
  4. Spending limits. Set limits on how much money each team member can spend from your company account.
  5. Automated bill pay features. Relay Pro lets you automatically import transactions from your accounting software, set up automated rules to approve bills and set up workflows to pay multiple bills or vendors with one transaction. But you’ll pay $30 a month.

2 potential drawbacks

  1. No paper checks. Use the app to send electronic checks or deposit via a photo in the app. But Relay doesn’t give you paper checks.
  2. Limited accounting integrations. Sync transactions with Quickbooks Online or Xero. However, business accounts like BlueVine Business Checking and NorthOne Business Bankingintegrate with more accounting or payment processing brands than Relay does.

How Relay Financial keeps your money safe

Like most banks or banking platforms, your money is backed by the Federal Deposit Insurance Corporation (FDIC) insurance up to the legally allowed $250,000.

Also, your transactions are backed by the Mastercard Zero Liability Protection, including those made in store, online, by phone, via an app or through an ATM. This policy says that Relay Financial won’t hold you responsible for unauthorized charges.

Like most bank accounts, another important security feature is the ability to lock the debit cards yourself. If you suspect fraud or lose a company debit card, simply lock the card through the app until you locate or get another one.

Relay Financial’s ATM network and fees

Pull money from your account at any of Allpoint’s 32,000 ATMs nationwide without fear of getting charged fees. Relay also doesn’t charge fees for out-of-network ATMs, though you might pay fees from the ATM owner.

Relay Financial’s reviews and complaints

Relay boasts 4.5 out of 5 stars on Trustpilot from about 500 customer reviews. On app stores, Relay gets 4.1 out of 5 stars on Google Play and 4.4 of 5 stars on the Apple Store. Those ratings come from over 100 reviews on both app stores.

On the positive side, businesses enjoy a smooth experience setting up their accounts with Relay. Many also say that customer support quickly responds even through email.

Businesses also love that team members get access only to the accounts that they need to manage. However, some business owners have had their accounts frozen or closed by Relay without their permission after several months of opening the account.

Others don’t like that they can’t get physical checks or that they have to pay for outgoing wire transfers. Outgoing wires are $5 for domestic transfers and $10 for international, a price that costs less than business accounts like Live Oak Business Checking.

Overall, businesses keep a positive view of Relay and its business banking features.

Compare Relay with other business checking accounts

Use this table to compare other business checking accounts by monthly fees, interest rates and minimum opening deposits.

Name Product Fee APY ATMs Minimum deposit to open
Live Oak Bank Small Business Checking Account
Live Oak Bank Small Business Checking Account
Access over 55,000 free in-network ATMs
Finder Rating: 4.6 / 5: ★★★★★
$4.99 for Lili Pro
1.00% only with Lili Pro
32,000 fee-free ATMs nationwide
BlueVine Business Checking
Finder Rating: 4.5 / 5: ★★★★★
BlueVine Business Checking
1.50% on balances of $0 to $100,000 You need spend $500 a month or receive $2,500 a month in customer statements.
38,000+ MoneyPass® locations nationally
First Internet Bank Small Business Checking
0.30% on balances of $10,000+
0.00% on balances of $0 to $9,999
Up to $10 ATM fee reimbursements a month, plus free access to the ATM Plus Network
Finder Rating: 4 / 5: ★★★★★
Novo doesn't charge ATM fees and will reimburse any non-network fees you incur

Compare up to 4 providers

How to deposit or withdraw my money

Relay Financial gives you a handful of ways to pay out or receive money in your account.


Fill up your Relay checking account by:

  • Direct deposit. Set up automated clearing house (ACH) transfers directly to your bank account.
  • Wire transfers. Receive money from external sources without paying fees for the incoming revenue.
  • Mobile check deposit. Endorse and snap a photo to top up the funds in your account remotely.
  • Payment processing services. Collect payments from PayPal, Stripe, Square and more to deposit into your account.

How to contact Relay Financial’s customer service

Reach live customer support by:

  • Calling 888-205-9304 on weekdays from 9 a.m. to 5 p.m. ET.
  • Emailing to send your questions any day of the week. Relay claims that the support team will get back to you the same day.

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