What is Relay Financial
Relay Financial is a US fintech bank (operating on Thread Bank infrastructure, FDIC-insured) focused on small and medium-sized businesses. The core idea is splitting money across accounts and envelopes for better financial control. Relay is especially popular among freelancers, agencies, and companies with multiple revenue streams.
Key Features
- Up to 20 checking accounts within a single account
- Up to 50 physical and virtual Visa debit cards
- Integrations with QuickBooks, Xero, Gusto, Plaid
- Incoming ACH free, outgoing ACH free
- Outgoing Wire — $5 (Relay Free) or free (Relay Pro, $30/month)
- Interest-bearing account with yields up to 1–3% APY on Pro plan
Relay Pros for Non-Residents
- Accepts US non-residents with a registered US company
- Does not require the owner's SSN or ITIN
- Approval in 1–3 business days
- Multiple sub-accounts — convenient for separating ad budgets
- Virtual cards available immediately after approval
Relay Cons
- No international SWIFT transfers (only ACH and domestic Wire)
- No check support for non-residents (limited check writing)
- Mobile app less functional than Mercury's
- Customer support by email/chat only, no phone
Pricing
| Parameter | Relay Free | Relay Pro |
|---|---|---|
| Price | $0/month | $30/month |
| Sub-accounts | Up to 20 | Up to 20 |
| Cards | Up to 50 | Up to 50 |
| Outgoing Wire | $5 | Free |
| Interest account | No | Up to 3% APY |
| Priority support | No | Yes |
Step-by-Step Account Opening
- Go to relayfi.com → "Open Account"
- Select your company type (LLC, C-Corp, etc.)
- Enter your EIN and company details
- Upload Articles of Organization and Operating Agreement
- Complete owner identity verification (passport)
- Wait for approval (1–3 business days)
FAQ
Is Relay better than Mercury for non-residents? It depends on your needs. Relay is better if you need multiple accounts to separate budgets. Mercury wins on features for technology companies and API integrations.
Does Relay support international transfers? Relay does not support SWIFT/international transfers directly. For international payments, use Wise Business or Payoneer alongside Relay.
Can Relay freeze an account? Like any fintech, Relay conducts regular reviews. Unusual transactions may trigger requests for supporting documents. Full account freezes happen less often than at Mercury, according to user feedback.