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Business bank account review

Relay Business Checking

Online business checking from a fintech, with banking by Thread Bank, in three plans ($0, $30 and $120 a month). Cash goes in free at Allpoint+ ATMs or for up to $4.95 at Green Dot retailers.

By RelayParent company: Relay Financial Technologies Inc.

RTC SCORE

8.6

#1 of 13 with enough data

What we like

  • Starter has a $0 monthly fee, no minimum balance and no opening deposit, with no per-transaction fee in the agreement's fee schedule.
  • Cash deposits at Allpoint+ ATMs are free on every plan, within the per-deposit and daily limits in the agreement.
  • Relay publishes that owners who are not U.S. citizens can apply with an ITIN and a U.S. address, if the business is registered in the U.S.
  • Up to $3,000,000 in FDIC coverage through Thread Bank's sweep program, with conditions.

What to watch

  • Green Dot retail deposits cost up to $4.95 each, and their limits are lower than those of the Allpoint+ ATMs.
  • Outgoing domestic wires cost $8 on Starter ($5 on the $30 and $120 plans), and same-day ACH costs $1 on Starter.
  • Relay is not a bank and has no branches: the money is held at Thread Bank.

How the score breaks down

RTC Score8.6out of 10

Methodology v1.0.0

Data completeness100%

We could verify 100% of the scoring data

Strongest points
12-month cost (reference restaurant), Owner with an ITIN and no SSN, Fee to close the account
Weakest point
Cash deposit limit

Score by criterion

  • 12-month cost (reference restaurant)Weight 32%Strongest10.0 out of 10

    $0 over 12 months

  • Where you can deposit cashWeight 10%5.0 out of 10
  • Cash deposit limitWeight 10%Weakest4.0 out of 10
  • Owner with an ITIN and no SSNWeight 10%Strongest10.0 out of 10
  • Fee to close the accountWeight 10%Strongest10.0 out of 10
  • How easy the monthly fee is to avoidWeight 8%10.0 out of 10
  • Accounting software it connects toWeight 6%7.5 out of 10
  • Open onlineWeight 5%10.0 out of 10
  • Outgoing domestic wire feeWeight 5%7.7 out of 10
  • Mobile check depositWeight 4%10.0 out of 10

All the data, with sources

Each value links to its source. "Not published" means the vendor doesn't disclose it; "Unconfirmed" means we looked and couldn't confirm it. Data points we have for fewer than four vendors are left out until we can compare them.

Fees
Data pointValue
Monthly fee$0/moSource: Relay (opens in a new tab)Starter plan. Grow is $30 a month and Scale $120 a month.
How to avoid the monthly feeNo monthly feeSource: Relay (opens in a new tab)
Transactions included a monthN/ASource: Relay (opens in a new tab)The fee schedule in the agreement (section 3.22) has no per-transaction fee; standard ACH transfers are $0 on every plan.
Each transaction over the included onesN/ASource: Relay (opens in a new tab)Relay does not charge per transaction.
Outgoing domestic wire$8 one-timeSource: Relay (opens in a new tab)Starter plan; $5 on Grow and Scale.
Minimum opening deposit$0Source: Relay (opens in a new tab)
Other feesSame-day ACH: $1 on Starter, $0.50 on Grow, $0 on Scale. Stop payment: $10 per request. International wires: SWIFT $25/$22/$20 and local network $5/$3/$1.50 (Starter/Grow/Scale), plus a 1% international transaction fee for ATM or card use outside the U.S. Getting paid through Relay invoices: cards 2.9% + $0.30, pay-by-bank 1%/0.75%/0.5% (up to $10) and incoming wires $5. No overdraft or NSF fees. Out-of-network ATM operators may charge.Source: Relay (opens in a new tab)
Cash deposits
Data pointValue
Accepts cash depositsYesSource: Relay Help Center (opens in a new tab)You need the physical Relay debit card; virtual cards can't be used for cash deposits.
Where you deposit cashPartner ATM network (e.g. Allpoint+), Retail stores (e.g. Green Dot)Source: Relay Help Center (opens in a new tab)
Cash deposited free each month$60,000/moSource: Relay (opens in a new tab)Allpoint+ ATM deposits are free on every plan, up to $1,000 per deposit and $2,000 a day (about $60,000 in a 30-day month; no monthly cap is published for ATMs). Green Dot deposits cost up to $4.95 each.
Cash deposit limitPublished capSource: Relay (opens in a new tab)Limits in the agreement (section 3.1): Allpoint+ ATMs $1,000 per deposit and $2,000 a day; Green Dot $500 per deposit ($1,000 at Walmart), $1,500 a day, $3,500 a week and $5,000 a month, and at most 4 deposits a day, 7 a week and 20 a month. Retailers may set lower limits.
Most cash a month$60,000/moSource: Relay (opens in a new tab)Allpoint+ ATMs: $2,000 a day brought to a 30-day month. Green Dot alone is capped at $5,000 a month.
Bank and deposit insurance
Data pointValue
Who holds the moneyA fintech, through a partner bankSource: Relay (opens in a new tab)
Bank that holds the depositsThread Bank, Member FDICSource: Relay (opens in a new tab)
Most FDIC coverage offered$3,000,000Source: Relay (opens in a new tab)Through Thread Bank's sweep: each program bank covers up to $250,000, counting anything you already hold there. Pass-through coverage requires conditions to be met.
Requirements to open
Data pointValue
What the owners must giveRelay asks for the business's EIN (a sole proprietor without employees can use an SSN) and, for every owner with 25% or more, full legal name, date of birth, home address, ownership share and a Social Security number (U.S. owners) or passport/ITIN (non-U.S. citizens), plus a government ID: a U.S. driver's license or, for non-U.S. citizens, a passport. The business must be registered in the U.S.; non-U.S. owners need a U.S. address.Source: Relay (opens in a new tab)From Relay's own application guide on its blog. Relay's partner-portal help article also asks for the primary owner's "SSN or ITIN".
Owner with an ITIN and no SSNThe bank publishes that it accepts an ITINSource: Relay (opens in a new tab)Relay writes it for owners who are not U.S. citizens; the business itself must be registered in the U.S. with an EIN. The agreement says applicants with foreign beneficial owners may be placed in a "Basic" tier with lower ACH and check limits.
Open onlineOnlineSource: Relay (opens in a new tab)
Day to day
Data pointValue
Mobile check depositYesSource: Relay (opens in a new tab)Check deposits are generally available within 7 business days (agreement, section 3.2).
ATM withdrawalsWithdraw cash free at Allpoint ATMs with the Relay debit card. Out-of-network ATM operators may charge a fee, and the agreement says there are no monthly ATM withdrawal limits.Source: Relay (opens in a new tab)
Accounting software it connects toQuickBooks, XeroSource: Relay (opens in a new tab)Direct sync with QuickBooks Online and Xero on every plan. Relay says Wave and FreshBooks connect through Plaid and Yodlee, which are third-party aggregators, so they are not counted.
Interest on the checking balanceRelay publishes interest only for its savings accounts (1.19% APY on Starter, 1.87% on Grow and 3.21% on Scale as of 9/17/2026, variable); it publishes no interest on checking.Source: Relay (opens in a new tab)
Account agreement and closing
Data pointValue
Fee to close the account$0 one-timeSource: Relay (opens in a new tab)The agreement's fee schedule (section 3.22) lists no closing fee.
Minimum termMonth to monthSource: Relay (opens in a new tab)No minimum term: the agreement lets you close the account at any time by email (section 3.16).
Closing clauseYou can close the account at any time, for any reason, by email; Relay may refuse while the balance is negative. Move your money out first; a closed account with more than $1 is paid out by paper check. Relay can also suspend or close the account at its discretion, and may close it after 12 months without deposits or withdrawals (section 3.16).Source: Relay (opens in a new tab)
Right to change feesFees can change at any time; Relay will give advance notice where the law requires it (section 3.22).Source: Relay (opens in a new tab)
Language
Data pointValue
Business pages in SpanishNoSource: Relay (opens in a new tab)Relay's site has no Spanish version: relayfi.com/es/ does not exist and its pages declare no Spanish alternate.
Support in SpanishUnconfirmedSource: Relay (opens in a new tab)Relay's agreement, pricing page and help articles read do not say whether support answers in Spanish.

More about Relay Business Checking

How we score