QUICK ANSWER
Relay is one of the best online business banking options in 2026 for small business owners who want to implement profit-first budgeting, manage multiple revenue streams, or separate business funds into purpose-specific accounts. Relay’s standout feature is the ability to create up to 20 checking accounts and 50 virtual cards within a single business banking relationship — enabling the envelope-budgeting approach that helps business owners set aside taxes, profit, and operating expenses automatically. Relay offers fee-free banking and integrates directly with QuickBooks Online and Xero.
Key Takeaways
- Relay’s multiple checking accounts feature is unique among online business banks — most online business banks (including Mercury) offer a single checking account with sub-accounts or categorization tools; Relay allows up to 20 separate checking accounts under one business banking relationship, enabling true account-based fund segregation for profit-first budgeting, tax savings, and expense management.
- Relay Pro adds 1–2% cash back on debit card spending — Relay’s free tier offers no rewards; Relay Pro ($30/month) adds 1% cash back on debit card spending plus priority customer support and additional features; for businesses with $60,000+ in annual debit card spending, the cash back can offset the monthly fee, making Relay Pro effectively free.
- Relay does not accept cash deposits — like most digital-first business banks, Relay has no physical branches and does not accept cash deposits; businesses that regularly handle cash need a traditional bank account for cash management.
- Relay’s FDIC coverage is up to $3M through sweep networks — Relay is FDIC-insured through Thread Bank with $250,000 standard coverage per account; through Thread Bank’s IntraFi sweep network, balances up to $3M can receive full FDIC coverage across multiple member banks.
Relay Business Banking Features
1. Multiple Accounts for Profit-First Budgeting
Relay’s multiple-account structure is purpose-built for business owners implementing Mike Michalowicz’s Profit First methodology. The system involves opening separate accounts for: Operating expenses (the account you pay bills from), Profit (a separate savings account for profit distributions), Owner’s pay (separate from business operating funds), Tax savings (typically 25–30% of income set aside for quarterly tax payments), and additional purpose-specific accounts. Relay allows you to set up automatic percentage-based transfers between accounts on a schedule, automating the allocation process that makes profit-first work.
2. Payment Capabilities
Relay supports ACH transfers (free), domestic wire transfers ($5 outgoing, free incoming), international wire transfers ($10), check deposits via mobile app, and physical debit cards. Each Relay checking account gets its own account and routing number, meaning each can receive ACH deposits separately — useful for businesses receiving payments from different client relationships into specific accounts. Relay supports Zelle for Business for instant transfers to vendors and contractors.