Relay Financial

Relay Financial is a digital banking platform designed to help small and mid-sized businesses manage their finances efficiently. It offers a comprehensive suite of tools and features that enable users to streamline cash flow management, organize spending, and track transactions with ease. The platform allows businesses to create up to 20 checking accounts, each serving as a separate financial bucket for different purposes such as payroll, taxes, or operational expenses. Additionally, Relay Financial provides the option to issue up to 50 physical and virtual debit cards, allowing businesses to control spending and set permissions for each cardholder.

Key features of Relay Financial include fee-free checking accounts with no minimum balance requirements, free ACH transfers, and check payments. The platform also supports various payment types, including wires and ACH transfers, making it versatile for different business needs. Relay Financial integrates with popular accounting software like QuickBooks and Xero, facilitating seamless financial management and reporting. Furthermore, it offers savings accounts with competitive APY rates and a credit card program that rewards businesses with cash back on purchases. The platform ensures security through FDIC insurance, protecting deposits up to $3 million via Thread Bank. Overall, Relay Financial is designed to simplify business banking by providing a user-friendly interface and robust financial management tools.