Overview
Relay is a business banking platform from Relay Financial Technologies, Inc. Banking services are provided by Thread Bank, Member FDIC, and international payments by Community Federal Savings Bank, facilitated by Nium[11]. Relay describes itself as a financial technology company and not a bank[11]. Its distinguishing feature is the number of checking accounts a single business can open: 20 on the Starter and Grow plans and 50 on Scale, which suits owners who split income into separate accounts for tax, payroll, operating expenses and profit[11]. Through Thread Bank’s sweep programme, deposits can qualify for up to $3 million of FDIC coverage, subject to pass-through conditions[11].
Paid plans add bookkeeping automation, batch vendor payments, recurring invoices, surcharging and cash-flow forecasting, and savings rates rise with each tier[11]. PYMNTS reported in August 2025 that Relay had about 110,000 US customers, more than $1 billion in customer deposits and about $3 billion a month in transaction volume, citing co-founder and chief executive Yoseph West[12]. The pricing page states that additional transaction fees apply but does not list wire fee amounts, so total cost for wire-heavy businesses is harder to estimate than at Mercury[11]. In November 2026 the northone.com domain redirected to Relay’s site, while Novo’s switching page described North One as closing; neither company’s pages reviewed here gave terms of any transaction[15].
Relay features
- Up to 20 checking accounts (50 on Scale)
- QuickBooks and Xero integrations
- Bill management and invoicing
- Batch vendor payments on Grow
- Cash-flow forecasts on Scale
- Business credit card with cash back
Relay pricing
Starter: $0/month, 1.19% savings APY, 1% card cash back. Grow: $30/month, 1.87% APY, 1.25% cash back. Scale: $90/month (regularly $120, limited-time discount), 3.21% APY, 1.5% cash back, no same-day ACH fee. Wire fees are not itemised on the pricing page.
Relay strengths and limitations
Strengths
- Up to 20–50 separate checking accounts
- Free tier includes accounting integrations
- Tiered savings yields up to 3.21% APY
- $3M sweep coverage
Limitations
- Not a bank; coverage depends on Thread Bank programme
- Wire fees not published on pricing page
- Top savings rate requires a $90+ plan
- No branch network
Appears in
Relay alternatives and competitors
Alternatives to Relay: companies ranked in the same lists.
Mercury
Bluevine
Axos Bank
U.S. Bank National Association
Chase Business Complete Banking
Bank of America
Capital One, National Association
Found- Novo
Lili
Wells Fargo Bank, N.A.
TD Bank Group
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