Relay’s business checking account is the perfect solution for managing cash flow effectively. It allows business owners to organize their finances with ease by opening up to 20 separate checking accounts under the main account. This feature can be especially helpful for businesses that need to allocate funds in specific ways.
One of the key features of the Relay business checking account is the ability to issue 50 virtual or physical Visa debit cards, with the option to set spending limits for team members. This feature can be particularly beneficial for businesses with multiple employees or contractors who need access to company funds.
The Relay business checking account has no minimum balance requirements and allows for fee-free cash withdrawals from over 55,000 Allpoint ATMs. Additionally, there are no overdraft fees associated with this account, with only fees for outgoing wire transfers.
Managing transactions and transferring funds is made simple with Relay’s business checking account. The account accepts various forms of payment such as ACH payments, wire transfers, check deposits, cash, and payments from online processors like PayPal, Square, and Stripe. Recurring transfers and payments can also be set up to ensure timely payments to vendors.
The Relay business checking account includes bookkeeping and accounting options that allow for seamless management of financial records and payroll processes. Relay automatically categorizes transactions for an overview of cash flow data that refreshes every three hours. Integration with QuickBooks, Xero, and Gusto makes it easy to manage financial information in one place.
Finally, the Relay business checking account provides up to $3 million in FDIC insurance coverage through its cash sweep program with Thread Bank. This program automatically insures all excess deposits for added peace of mind when managing your business finances.
Overall, Relay’s business checking account is a comprehensive solution that allows businesses of all sizes to manage their finances effectively while providing added peace of mind through features like FDIC insurance coverage and easy integration with popular accounting software programs.
With its wide range of features and benefits, it’s clear that the Relay business checking account is an ideal choice for any business looking to improve their financial management capabilities