The venture backed bank all small business founders should be using
First, there's nothing more frustrating than a bank who doesn't understand your business. Next, it can be really hard to find a bank that will actually want to work with you as a small business owner. But what if I told you there was one lender out there that is banking on the future of American entrepreneurship? That's right! It's time to take back control and start using Relay Financial now .
The right bank can make your day to day operations so much easier. For good reason, many business owners’ default to their personal banks, most notably, the big banks (those that shall remain unnamed). Having the same bank for everything might seem logical, but your business deserves a bank designed for a growing business in a tech savvy world. Long gone are the days where you have a direct line to your local banker. As both an accountant and a business owner using RelayFi, I am enthusiastic to brag on their behalf. I never imagined I would gush about a bank; banks have seemed to fall , but RelayFi changed all of this.
What’s to love about RelayFi?
No Banking fees or minimum balance - A large bank for example has a $2,000 minimum or a $15 monthly fee, so this is a great option for those starting a new business.
Up to 20 checking accounts – 20 bank accounts might be overkill for the average business, but you can add a new account with a click of a button. Some large banks still require you to physically go to the bank to do so. This is a great feature to add a tax savings account or multiple checking accounts if you utilize the profit first method.
Statements are easy to find and available promptly – There is nothing particularly fancy about RelayFi, but everything you need is there, easy to find and has a modern interface. No more digging for your statements, they are easily accessible early in the month and can be exported to PDF, CSV or OFX.
Easy payment options
o ACH - ACH payments are free and deliver within 1-2 days (same day available with RelayPro).
o Check – No more handwriting checks, checks are also free and sent from the bank directly to your vendors with a click of a button. No postage, no problem!
o Wire – Receiving domestic and international wires are free; sending domestic and international wires are $5 and $10 accordingly.
o Great for growing teams – You can invite team members to the account with limited or full access, issue up to 50 debit cards (they are Mastercard) with the ability to automate spending limits on each card. The cards can be used complimentary at 32,000 ATM’s.
o On the go banking - Great banking app supported by IOS and Android.
RelayFi also have a paid version called RelayPro. For $30 a month it includes same day ACH payments, free domestic and international wires and truly the most efficient and effective bill pay system to manage your payables I have worked with. The free version on its own is amazing, but if any of these features are relevant to your business, it could be a great option.
I have had the privilege to share my feedback with their product development team and they truly took the time to listen to my thoughts and suggestions. It is clear they work to understand the issues surrounding small and growing businesses, and work to provide systematic solutions.
So, you ready to make the banking switch to RelayFi?
All opinions contained above are my own, however; this article does contain affiliate links.