Financial technology company, not a bank, built around running several checking accounts at once for envelope-style budgeting.
Best for
Businesses that budget by splitting money across several named accounts and want unlimited users included.
Every fee we track, grouped by where it applies.
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Each account's published monthly fee, and the plan that fee belongs to. Where a fee can be waived, the condition is stated rather than applied. Interest is shown as the rate each account publishes, with its conditions, and never as a forecast of what you would earn.
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Relay is a financial technology company rather than a bank. Banking services are provided by Thread Bank, and deposits are placed with its sweep program banks for cover above the single-bank limit, as pass-through insurance subject to conditions.
The product is built around holding several checking accounts at once, which is why it is chosen by businesses that separate tax, payroll and operating money into named accounts. Every plan includes unlimited users and a large card allocation, and no plan has a minimum balance to keep.
What changes with the plan is transfer pricing, approval workflow and the rate paid on a linked savings account. The checking account itself is described in Relay's deposit agreement as non-interest-bearing, so the rates it advertises belong to savings rather than to the money being transacted. Relay accepts cash, but only through third-party ATM and retail networks that carry hard per-transaction, daily and monthly caps.
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