Banking · Small-Business Checking
Relay Review
Multi-account business banking built around Profit First cash management
Quick verdict
Relay is best for Contractors who want disciplined cash management, splitting every deposit into tax, materials, owner-pay and profit accounts (Profit First), with multi-user access and crew debit cards. Partner Thread Bank agreed to an FDIC consent order in May 2024; cash deposits are capped; higher savings APY requires a paid plan; wire fees on every plan; the multi-account system needs discipline to pay off.
Fees & APY
Starter is free (1.19% savings APY); Grow is $30/mo (1.87% APY); Scale is $90/mo for a limited time, down from $120 (3.21% APY), with APYs as of September 17, 2026. Up to 20 checking accounts per business (50 on Scale) plus up to two savings accounts; no overdraft or NSF fees; domestic wires $8 on Starter and $5 on paid plans. Banking services provided by Thread Bank, Member FDIC, with up to $3M FDIC coverage through its sweep program.
- Monthly fee
- $0 Starter; Grow $30/mo; Scale $90/mo (limited-time discount from $120/mo)
- APY / yield
- Savings APY of 1.19% (Starter), 1.87% (Grow) or 3.21% (Scale) as of September 17, 2026, per Relay; rates are variable
Affiliate disclosure: The link to Relay on this page goes to its own site and is not an affiliate link.
About Relay
Relay is a business banking platform built for cash management, especially the Profit First method, where each deposit is split right away into separate accounts for profit, owner pay, taxes and operating costs. Relay Financial Technologies Inc. is based in Toronto; Relay says banking services are provided by Thread Bank, Member FDIC. In May 2026 Relay said it served over 150,000 small businesses and held $1.3 billion in customer deposits, after a $50 million investment from General Catalyst.
The core feature is many accounts under one login: up to 20 checking accounts (50 on Scale) and up to two savings accounts, with auto-transfer rules that split incoming money by percentage on a daily, weekly or monthly schedule. Relay says it is the official banking platform for Profit First, endorsed by the method's creator Mike Michalowicz, and you can give a Profit First Professional a role-based login. All plans include unlimited users, debit cards (up to 50 per cardholder per checking account) and credit cards with cash back.
Pricing per Relay's pricing page and deposit agreement: Starter is free with 1.19% savings APY, Grow is $30/mo with 1.87% APY, and Scale is $90/mo for a limited time (list $120) with 3.21% APY; APYs are variable and quoted as of September 17, 2026. Relay charges no overdraft or NSF fees. Domestic wires cost $8 on Starter and $5 on Grow and Scale, and same-day ACH costs $1, $0.50 or nothing depending on plan. Relay says deposits get up to $3 million of FDIC coverage when Thread Bank places them at program banks, up to $250,000 per bank. Cash can go in through Green Dot at participating retailers (up to $1,500 a day and $5,000 a month) or at Allpoint ATMs (up to $2,000 a day). Relay Capital term loans are available through Fundbox and its bank partner, Lead Bank.
The trade-off: the multi-account system only pays off if you set up and keep up the allocations, the higher savings rates need a paid plan, and cash deposits have daily and monthly caps. Relay's partner bank, Thread Bank, also agreed to an FDIC consent order in May 2024 covering anti-money-laundering controls and oversight of its fintech partners, so it makes sense to keep a backup account.
How it works
You open a Relay account (banking services provided by Thread Bank, Member FDIC) and create up to 20 checking accounts (50 on Scale) and up to two savings accounts under one login, each for a job such as taxes, materials, owner pay or profit. Auto-transfer rules split each deposit by percentage on a daily, weekly or monthly schedule, the Profit First approach. You can add unlimited users with role-based access, issue debit cards with spending controls, and pay bills and send invoices from the same dashboard. Cash goes in through Green Dot retailers or Allpoint ATMs within Relay's limits. Savings earn 1.19%, 1.87% or 3.21% APY depending on plan (Starter free, Grow $30/mo, Scale $90/mo discounted from $120), and Thread Bank's sweep program extends FDIC coverage up to $3 million.
Pros & cons
What works
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Multi-account Profit First structure
Up to 20 checking accounts (50 on Scale) and up to two savings accounts under one login, with auto-transfer rules, let you split every deposit into tax, owner-pay, materials and profit buckets automatically.
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Free Starter plan
Starter costs $0 a month and still includes the multi-account setup, unlimited users and 1.19% APY on savings, and Relay's fee schedule lists no overdraft or NSF fees.
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Savings APY rises with plan
Savings earn 1.19% APY on Starter, 1.87% on Grow and 3.21% on Scale (variable, as of September 17, 2026), so tax and materials reserves can earn interest.
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Cards and users for a crew
Every plan includes unlimited users, up to 50 debit cards per cardholder per checking account with spending controls, and credit cards with 1%-1.5% cash back depending on plan.
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FDIC coverage up to $3 million
Relay says deposits qualify for up to $3,000,000 of FDIC coverage when Thread Bank places them at program banks, up to $250,000 per bank, which helps a contractor holding large reserves.
What doesn't
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Partner bank under a 2024 FDIC order
Thread Bank, Relay's partner bank, agreed to an FDIC consent order dated May 21, 2024 that required fixes to its anti-money-laundering program, oversight of fintech partners and liquidity management. Keep a backup account.
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Cash deposits are capped
Cash goes in through Green Dot retailers (up to $1,500 a day, $3,500 a week and $5,000 a month, and Green Dot may charge a fee) or Allpoint ATMs (up to $2,000 a day), which can be tight for a cash-heavy trade.
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Top savings rate needs a paid plan
The 1.87% and 3.21% APYs require Grow ($30/mo) or Scale ($90/mo on a limited-time discount from $120).
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Wires and same-day ACH cost extra on lower plans
Domestic wires cost $8 on Starter and $5 on Grow and Scale, and same-day ACH costs $1 on Starter and $0.50 on Grow.
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The system takes discipline
Relay's value comes from setting up and maintaining the allocations. If you will not keep the buckets current, a single simple account may serve you just as well.
Features & integrations
Key features
Integrations
Frequently asked
What makes Relay different from other business banking?
Relay is built for cash management: you can open up to 20 checking accounts (50 on Scale) and up to two savings accounts under one login and set auto-transfer rules that split every deposit by percentage. That multi-account structure, plus unlimited users and debit cards with spending controls, is its main difference from a single-account setup.
How much does Relay cost?
Starter is free and earns 1.19% APY on savings. Grow is $30/mo (1.87% APY) and Scale is $90/mo on a limited-time discount from $120 (3.21% APY); APYs are variable and quoted as of September 17, 2026. Relay charges no overdraft or NSF fees, but domestic wires cost $8 on Starter and $5 on paid plans.
Is Relay safe given the Thread Bank consent order?
Relay says banking services are provided by Thread Bank, Member FDIC, and that deposits qualify for up to $3 million of FDIC coverage through Thread Bank's sweep program. Thread Bank agreed to an FDIC consent order dated May 21, 2024 that required it to strengthen its anti-money-laundering program, fintech-partner oversight and liquidity management. FDIC insurance protects deposits if an insured bank fails; it is still prudent to keep a backup account.
Can I deposit cash with Relay?
Yes, within limits. Relay's deposit agreement allows cash deposits through the Green Dot network at participating retailers (generally up to $500 per deposit, $1,000 at Walmart, $1,500 a day and $5,000 a month, and Green Dot may charge its own fee) and at Allpoint ATMs (up to $1,000 per deposit and $2,000 a day). A trade that banks a lot of cash may still need a local bank.
Is Relay good for the Profit First method?
It is built for it. Relay says it is the official banking platform for Profit First, endorsed by the method's creator Mike Michalowicz. Its separate accounts and auto-transfer rules let you allocate each deposit into profit, owner-pay, tax and operating buckets, and you can give a Profit First Professional a role-based login.
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