Relay Business Checking accounts are designed to help business owners manage their cash flow effectively. With this account, users have the ability to open up to 20 separate checking accounts under their main account, allowing for easy organization of income and expenses.
One of the key advantages of Relay Business Checking accounts is that there are no minimum balance requirements to open the account. Users can also withdraw cash from over 55,000 Allpoint ATMs without incurring fees, and there are no overdraft fees associated with the account, aside from charges for outgoing wire transfers.
Transferring funds to and from the account is simple with Relay, as the account accepts various payment methods including ACH payments, wire transfers, check deposits, cash, and payments from online processors like PayPal, Square, and Stripe. Users can also set up recurring transfers between accounts and payments to vendors to ensure timely payments.
Furthermore, Relay offers bookkeeping and accounting options that automatically categorize transactions to provide an overview of cash flow that is refreshed every three hours. Account holders can connect their account to QuickBooks or Xero for bookkeeping purposes, and also integrate with Gusto, a payroll and HR solution.
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