Relay | Business Banking

Relay is a financial technology company that offers a variety of banking services through Thread Bank, a member of the FDIC. With Relay, businesses can open up to 20 checking accounts to allocate funds for different purposes such as operations, payroll, and taxes. They also provide multiple debit and credit cards with built-in spend policies, allowing businesses to easily track and organize their spending by team or project. Additionally, Relay offers a cash back program of 1.5% on all credit card purchases and savings accounts with up to 3.00% APY to help businesses grow their reserves.

One of the key features of Relay is their wide range of payment options, including ACH transfers, wires, and even paper checks. This allows businesses to have flexibility in how they make and receive payments. Relay also offers automations, such as maximum-balance transfer rules, to help businesses manage their finances more efficiently. This allows business owners to focus on running their business while Relay takes care of the money movement.

Relay also provides insurance for businesses, with each business being insured up to $3 million for funds on deposit through Thread Bank. This provides peace of mind for business owners, knowing that their funds are protected. To learn more about Relay and their services, businesses can visit their website at relayfi.com.

It is important to note that Relay is not a bank, but rather a financial technology company. However, they work with Thread Bank, a member of the FDIC, to provide banking services to their customers. The Relay Visa® Debit Card and Relay Visa® Credit Card are both issued by Thread Bank and can be used anywhere Visa cards are accepted.

For businesses interested in earning cash back rewards, Relay offers a program with terms and conditions that apply. Cash back is credited to the Relay checking account at the end of each 30-day billing cycle. However, ATM transactions and the purchase of money orders or cash equivalents with the Relay Visa® Credit Card are not eligible for cash back. More details about the cash back rewards program can be found on Relay's website.

Lastly, Relay offers competitive interest rates and annual percentage yields (APY) on their savings accounts. These rates are variable and subject to change based on the target range of the Federal Funds rate. The APY can range from 1.00% to 3.00%, depending on the balance held in the account. There are no minimum balances or deposits required to earn interest on the account, making it accessible for businesses of all sizes.