Why I recommend Relay as your business bank
Banking is a crucial part of your financial systems. It really plays a big part, not just to receive payments or pay for your expenses, but it’s part of your big picture (how you manage your finances) and in the details (tech features and how it plays out in your workflows).
My recommendation? Relay.
My plans for my business started in 2019, and when I was finally ready to launch in 2020, well.. You know what happened that year. I couldn’t go to any local branch to open my bank account, and I was unable to do so online. Not until I heard of Relay. It took me no longer than 10 minutes to have it up and running. I couldn’t believe it was that easy after being turned down by so many other big names. It’s been 4 years since then, and I’ve enjoyed it every step of the way. Not only I had first hand experience, but I also experience the struggles my clients face with their banks. I know I am in the right place with Relay, and I want the same for you.
That’s why I wanna share with you my top reasons why I recommend Relay.
Super easy and fast to get started
No monthly fees
Profit First friendly
Free ACH payments
Integrates really well with Quickbooks and Xero
Securely add users
Excellent customer service
And if you’re reading this in June (2024), you get $50 for signing up with my referral link when you open your account and fund it with just $1.
Easy set up
It’s really simple and fast to open your business bank account with Relay, and it’s all online. Within just a few minutes, and after submitting proper documentation, your account will be up and running, and you’ll get either a virtual or physical debit card right away. No need for in person appointments or long waiting approvals, it really is that simple.
No monthly fees
No fees or no minimum balances is hard to beat for business accounts. You can open several accounts (up to 20!), send ACH transfers, issue up to 50 debit cards, ATM deposits and withdrawals, and still enjoy no monthly fees. You can find more details on their plans and pricing by going HERE.
The Relay Pro version is currently $30/mo. My favorite feature of the Pro version is that you get same-day ACH and wire transfer. Although you do get free ACH transfers with the free version, the Pro gets the benefit of same-day, which can be quite costly if you pay per transfer with other platforms.
Profit First friendly
I’ve heard many business owners who practice Profit First saying their Bank account managers either didn’t let them open more accounts, or were confused and not on board with them having multiple accounts. Not only that, but each account would have their own monthly fees. With Relay, you get to bank with the official bank platform of Profit First. It even lets you create automatic transfers based on you PF percentages.
Integrations and security
As a bookkeeper and financial systems pro, I often find that banks are one of the biggest roadblocks in optimizing these processes. Clunky and tech-challenged banks don’t connect with your accounting software, don’t let you securely add team members and manage their permissions and roles, and don’t have multilayers of security features in place. These have a big impact on every level of your workflows and end up slowing everyone down.
Customer service
This one is big for me. I don’t like impersonal support, but I also don’t want to wait hours on hold, or being sent from dept to dept until I finally reach the person that can help me. With Relay, I’ve been able to get a response and a resolution via email fast and efficiently. And every person I’ve had the opportunity to interact with has been really wonderful, friendly, and efficient.
All and all, Relay is the bank I recommend to business owners who want to leverage tech to improve and optimize their financial systems, as well as get better at managing their cash flow.
Ready to get started? Use my referral link and you’ll get $50 if you open your account during June (2024) and fund it with at least $1.
Prefer to speak to an account manager? Email me and I’ll personally send you and my account manager an intro email and they’ll get you all setup.
Disclaimer: Relay is a financial technology company, not a bank. Banking services and FDIC insurance are provided through Thread Bank, Member FDIC. The Relay Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa® debit cards are accepted.