Toronto-based Relay FI is the only non-USA company on our list of largest USA digital SMB banks. According to SimilarWeb, at 130,000 visits in August, they trail only Mercury and Novo in website traffic.

Product features:

  • Virtual and physical debit cards for employees (max 50)
  • Simple card controls (see inset right) including:
    A. Daily transaction limit
    B. Daily ATM withdrawal limit
    C. Foreign transaction authorization
    D. Freeze/unfreeze card
    E. Change PIN
  • Checking account
  • Checking sub-accounts (max 20)
  • Billpay
  • ACH, wire or check payments
  • One-click card freezing
  • Direct feed to Quickbooks Online and Xero
  • Team access & permissions with spending limits (ie, read-only access)
  • Auto import of bills from Quickbooks and Xero (Pro version)
  • Multi-stage & batch bill payment workflow (Pro)
  • Free domestic & international wires (Pro)
  • 24/7 support
  • Remote deposit (with $40k daily deposit limit!)

Pricing:

  • Standard = Free
  • Pro = $30/mo (after 14-day free trial)

Accountant /Bookkeeper Partner Program

  • 3 to 14 clients: 17% discount on client’s monthly fee ($25/mo); 5% revenue share on card spend
  • 15 to 49 clients: 20% discount ($24/mo); 10% revenue share
  • 50 to 99 clients: 23% discount ($23/mo); 15% revenue share
  • 100+ clients: 27% discount ($22); 20% revenue share

Company Vitals

FAB Score: 23
– HQ: Toronto
– Founded: 2018
– Partner bank: Evolve
– Raised $19M (Crunchbase)
– Website visits: 130,000 (August 2021 per SimilarWeb)
– Employees: 16 (Pitchbook)
– Articles: 3 (Google News)
– Twitter: 529 followers
– TrustPilot: 3.8 (2 reviews)
– iOS: 3.4 (13 reviews)

Product Videos

Interview and demo of Relay Financial (29 minutes)

Product Screenshots

Fab score:
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