Pros
- $0 Starter plan with no minimum balance
- Up to 20 checking accounts on Starter (Profit First friendly)
- Cash deposits at Allpoint+ ATMs and Green Dot retailers
- Up to $3M FDIC coverage via Thread Bank’s sweep program
- Unlimited users with role-based permissions
- Integrates with QuickBooks Online, Xero and Gusto
Cons
- Wire and same-day ACH fees on Starter
- Best savings APY only on the $120/mo Scale plan
- Relay is a fintech; banking by Thread Bank, Member FDIC
Relay at a glance
| Monthly fee | $0 Starter · $30 Grow · $120 Scale |
|---|---|
| Minimum balance | None |
| Interest | Savings 1.19% (Starter) to 3.21% APY (Scale) |
| FDIC coverage | Up to $3M via Thread Bank sweep |
| ATMs & cash | Free at 55,000+ Allpoint ATMs; cash deposits free at Allpoint+ ATMs or up to $4.95 at Green Dot retailers |
| Wires | Fees apply; lower on paid plans |
| Non-US owners | Owners from 200+ countries if the business operates in the US |
Good fit if you are…
- Owners who use Profit First or separate accounts for taxes and payroll
- Businesses that occasionally deposit cash
- Teams that need several users and cards
Look elsewhere if you are…
- Heavy wire senders on the free plan
- Anyone wanting the highest APY without a paid plan
Relay alternatives
| Provider | Price | Best for | Link |
|---|---|---|---|
| Mercury | $0/mo | Free wires · non-US founders · startups | Visit Mercury |
| Bluevine | $0/mo (Plus $30, Premier $95) | Interest on checking · credit line | Visit Bluevine |
| Novo | $0/mo | Simple free account for US-based owners | Visit Novo |
| Found | $0/mo (Plus $35, Pro $80) | Freelancers · built-in tax tools | Visit Found |
| Lili | $0/mo (Pro $15, Smart $35, Premium $55) | Non-US owners incl. Latin America · savings APY | Visit Lili |
| Wise Business | $31 one-time | Multi-currency · getting paid from abroad | Visit Wise Business |
How to get started with Relay
- Get your LLC’s EIN from the IRS.
- Have your Articles of Organization, operating agreement and an ID for each owner ready.
- Apply online on Relay’s site and verify the owners.
- Fund the account and connect your payment and accounting tools.
Relay vs the alternatives
Relay is our pick for profit first · up to 20 accounts · cash deposits ($0/mo (Grow $30, Scale $120)). If that isn’t your priority:
- Mercury — better for free wires · non-us founders · startups ($0/mo). $0 monthly fee, no minimum balance, no opening fees.
- Bluevine — better for interest on checking · credit line ($0/mo (Plus $30, Premier $95)). Interest on checking: 1.3% APY on Standard (with $500 card spend or $2,500 in customer payments a month).
- Novo — better for simple free account for us-based owners ($0/mo). $0 monthly fee with no minimum balance.
Frequently asked questions
How much does Relay cost?
$0/mo (Grow $30, Scale $120). Monthly fee: $0 Starter · $30 Grow · $120 Scale. Minimum balance: None. Verified October 18, 2026 on Relay’s website.
Is Relay good for an LLC?
A free account built for budgeting: up to 20 checking accounts, free Allpoint ATMs and a way to deposit cash — features most online banks skip. Wires cost extra on the free plan. Good fit: owners who use profit first or separate accounts for taxes and payroll; businesses that occasionally deposit cash; teams that need several users and cards.
What are the downsides of Relay?
Wire and same-day ACH fees on Starter. Best savings APY only on the $120/mo Scale plan. Relay is a fintech; banking by Thread Bank, Member FDIC.
Can non-US residents open Relay?
Owners from 200+ countries if the business operates in the US.
What are the alternatives to Relay?
Mercury ($0/mo), Bluevine ($0/mo (Plus $30, Premier $95)), Novo ($0/mo), Found ($0/mo (Plus $35, Pro $80)), Lili ($0/mo (Pro $15, Smart $35, Premium $55)), Wise Business ($31 one-time).
Is Relay safe?
Relay isn’t a bank itself; deposits are held at partner banks that are FDIC members. FDIC coverage: Up to $3M via Thread Bank sweep.
How do I sign up for Relay?
1. Get your LLC’s EIN from the IRS. 2. Have your Articles of Organization, operating agreement and an ID for each owner ready. 3. Apply online on Relay’s site and verify the owners. 4. Fund the account and connect your payment and accounting tools.
Rates, fees and eligibility change often. Figures come from each provider’s own site on the date shown; confirm before opening an account. Fintechs are not banks — deposits are held at partner banks, Member FDIC. Verified October 18, 2026. We may earn a commission if you sign up through our links, at no cost to you. How we’re funded.
Your LLC setup checklist
- Get a free EINFrom the IRS, in minutes online.
- Open a business bank accountKeep LLC money apart from yours to protect the liability shield.
- Sign an operating agreementSettle who owns and decides what before it matters.
- Get business insuranceCover what the LLC itself doesn’t protect.
- Plan your taxesKnow your tax status and federal due dates.
- Track state deadlinesFree reminders before each filing.
Everything in one list: printable LLC compliance checklist · live deadline calendar.