Rapid Growth in Small Business Finances: Relay Reports Over $1 Billion in Managed Deposits from Businesses That Made Their Fortunes Alone
Small business owners across America are now able to gain full financial visibility and control over their incoming and outgoing cash, thanks to Relay's latest product offerings. With over 110,000 self-made entrepreneurs already on board, Relay is making waves in the financial industry.
At the heart of these new innovations are the Payments and Invoices, Expenses and Bills, and Relay Visa® Credit Card features. The Payments and Invoices tool enables businesses to create invoices, automate payment follow-ups, and securely accept payments, all within three days. This real-time clarity on incoming cash provides small businesses with the financial insights they need to make informed decisions.
The Expenses and Bills feature leverages AI-powered workflows to help teams spend efficiently and manage outgoing dollars proactively. By allowing business owners to create and manage bills, set approval rules, and control spending, Relay is helping businesses save thousands in unnecessary expenses.
The Relay Visa® Credit Card offers a business cash flow safety net, providing up to 50 employee cards, custom designs, and a 1.5% cash back reward on all business spending. This card is designed to help businesses manage their cash flow more effectively.
In addition to these features, Relay offers a range of other tools to support cash flow control. These include up to 20 checking accounts for different business purposes, multiple debit and credit cards with built-in spending policies, savings accounts earning up to 3.00% APY, and comprehensive payment options such as ACH transfers, wires, and even paper checks. Automation capabilities like maximum-balance transfer rules further help businesses manage their finances efficiently.
These innovations combine integrated banking and money management tools, tailored specifically for small businesses seeking financial clarity and control. Yoseph West, Co-Founder and CEO of Relay, expressed his gratitude, stating that every dollar deposited signals the trust of small and medium-sized businesses. Relay has managed over $1 billion in customer deposits through Thread Bank, Member FDIC.
Behind every dollar managed by Relay are the late nights, hard decisions, and relentless effort of business owners turning their ambitions into impact. Relay is committed to providing these entrepreneurs with the financial tools they need to succeed.
In the past year, Relay has introduced a series of product breakthroughs inspired by the needs of self-made business owners. These innovations reflect not only the resilience of the business owners using Relay but also their determination and discipline. The $1 billion in managed customer deposits is a testament to their success.
Relay is evolving to become the financial command center for American small businesses. From electricians and florists to real estate agents and many others across the U.S., the businesses using Relay rely on reliable banking and money management tools to stay afloat. With its latest offerings, Relay is poised to continue empowering small businesses to take control of their financial futures.
Business owners can now manage their personal-finance by utilizing Relay's Expenses and Bills feature, which helps teams spend efficiently and manage outgoing dollars proactively. Additionally, the Relay Visa® Credit Card offers a business cash flow safety net, providing up to 50 employee cards, custom designs, and a 1.5% cash back reward on all business spending, designed to help businesses manage their finances more effectively.
