Where Relay holds an edge over Bluevine is its ability to streamline cash management processes by allowing users to create 20 checking accounts and issue 50 debit cards to organize their business spending. However, Bluevine’s high APY of 1.5% under its Standard Checking account and unlimited credit card cashback rewards make it a great fit for businesses wanting to earn competitive interest.
- Bluevine Bluevine is a financial technology (fintech) platform backed and Federal Deposit Insurance Corp. (FDIC)-insured by a supporting bank partnership with Coastal Community Bank. : Best for businesses wanting a fee-free checking account that earns interest at competitive rates and unlimited cash back rewards from credit cards
- Relay Relay is a fintech platform backed and FDIC-insured by a supporting bank partnership with Thread Bank. : Best for businesses seeking an affordable checking account with no minimum balance requirement or monthly maintenance fee, up to 20 free checking subaccounts, and integrations with QuickBooks and Xero
Bluevine vs Relay Business Checking Account Quick Comparison
 Business Checking |  Relay Business Checking | |
|---|---|---|
Required Opening Deposit | $0 | |
Required Balance Minimum | None | |
Transaction Limit Before Fees | Unlimited | |
ACH Fees | Incoming: $0 Outgoing: $0 Same-day ACH: $10 | $0 |
Monthly Fees | None | |
Domestic Wire Transfer Fees | Incoming: $0 Outgoing: $15 | Incoming: $0 Outgoing: $5 |
International Wire Transfer Fees | Incoming: $15 Outgoing: $25 (United States dollars); $25 plus 1.5% (foreign currency) | Incoming: $0 Outgoing: $10 |
ATM Fees | ||
Cash Deposited | $4.95 (Green Dot) or $1 plus 0.5% of deposit (Allpoint+ ATMs) | $0 (Allpoint+ ATMs) or $4.95 (Green Dot) |
APY | 1.5% on qualifying balances up to $250,000 | None |
Our Review | ||
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Business Checking | Standard | |
|---|---|---|
Debit Card | Free debit card, mailed within 10 business days of application approval (plus up to 8 free additional cards for authorized users) | Up to 50 free physical or virtual Mastercard debit cards delivered within 8 to 10 business days |
Physical Checks | One free checkbook for the lifetime of the account, then $30 per additional checkbook | No checkbooks provided but offers free mailing of bill paychecks within the US |
Accounting Software Integrations | QuickBooks, Wave, Expensify, and Xero | QuickBooks Online and Xero |
Business Payment Integrations | Includes Wise, Venmo, CashApp, and Square | Includes PayPal, Venmo, Stripe, Plaid, and Square |
Customer Service | Live customer support from dedicated professionals (chat available 24/7) Toll-free: (888) 216-9619 Mondays to Fridays, 9 a.m. to 6 p.m., Eastern time Email: support@bluevine.com | 24/7 email support from dedicated professionals Live phone chat: (888) 205-9304 Mondays to Fridays, 9 a.m. to 8 p.m., Eastern time |
Reserve Accounts | Up to five | Up to 20 |
User Access | Administrator, authorized users, or accountant | Administrator, manager, bill payer, bill payers (imported bills only), cardholder, deposit-only, and read-only |
Other Products Available | Bluevine Premier Checking, line of credit, and credit card | Savings account and Relay Pro (premium subscription) |
Our Review | ||
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When to Use Bluevine vs Relay vs Alternatives
Bluevine vs Relay Business Checking Features
Bluevine | Relay | |
|---|---|---|
3.50 ★ | 3.42 ★ | |
Cash Deposits | ★★★ | ★★★ |
Reserve Accounts | ★★★ | ★★★★★ |
Bank Network & ATM Availability | ★★★ | ★★★ |
Payment & Accounting Software Integrations | ★★★★★ | ★★★★★ |
APY Earnings | ★★★★ | 0 |
Debit Card Issuance | ★★★ | ★★★★★ |
Physical Check Availability | ★★★★ | ★★ |
Wire Transfer Fee Savings | ★★★ | ★★★★ |
ATM Fee Savings | ★★★ | ★★★★ |
Expanded FDIC Insurance Coverage | ★★★★ | ★★★★ |
Additional Products | ★★★ | ★★ |
Cash Back Rewards | ★★★★ | ★★★★ |
Rating Explanation: ★★★★★: Feature enhances your banking experience at no cost. ★★★★: Feature has a few minor drawbacks/limits or comes at a slight cost. ★★★: Feature has a few drawbacks/limits or comes at a slightly high cost. ★★: Feature has a few major drawbacks/limits or comes at a high cost. ★: Feature has major drawbacks/limits. 0: Feature is unavailable. | ||
When comparing Bluevine vs Relay standard checking accounts, Bluevine stands out for its competitive interest, which is considered among the highest in the market. It also provides a credit card with cash back rewards and a financing option available to small businesses, should they need extra funding.
Meanwhile, Relay offers multiple reserve accounts and debit cards, including ATM fee savings and lower wire transfer fees. Those make it easy for users to streamline cash management and cut costs.
Bluevine: 3 out of 5
Bluevine offers up to five free subaccounts with your main Bluevine Business Checking account. Each subaccount is assigned its own account number.
Relay: 5 out of 5
With Relay, an LLC or a corporation can open up to 20 checking accounts using a single account name. Sole proprietors or single-member LLCs are permitted to create ten accounts. These accounts allow users to separate checking balances into dedicated buckets for spending and savings categories, such as taxes, payroll, and profit.
Bluevine: 3 out of 5
Bluevine users can access approximately 40,000 MoneyPass ATMs to transact for free.
Relay: 5 out of 5
With Relay, a limited liability company (LLC) or corporation can open up to 20 checking accounts using a single account name. Sole proprietors or single-member LLCs are permitted to create ten accounts. These accounts allow users to separate checking balances into dedicated buckets for spending and savings categories, such as taxes, payroll, and profit.
Bluevine: 3 out of 5
Bluevine users can access approximately 40,000 MoneyPass ATMs to transact for free.
Relay: 3 out of 5
Meanwhile, Relay users can transact at more than 55,000 Allpoint ATM locations.
Bluevine: 5 out of 5
Bluevine integrates with various payment processing apps, including Wise, Venmo, CashApp, and Square. It also connects with accounting software, such as QuickBooks, Wave, Expensify, and Xero.
Relay: 5 out of 5
Relay integrates with PayPal, Stripe, Venmo, Plaid, and Square payment solutions. It’s also compatible with QuickBooks Online and Xero.
Bluevine: 4 out of 5
Under Bluevine Standard Checking, qualified balances of up to $250,000 get 1.5% APY. If you open Bluevine Premier Checking, you can earn up to 4.00% on balances of $3 million and less.
Relay: 0 out of 5
Relay Standard Checking does not provide any APY earnings.
Bluevine: 3 out of 5
Bluevine issues a debit card with its main Bluevine business checking account and offers up to 8 additional cards for authorized users. Account admins can manage multiple debit cards via the main dashboard.
Relay: 5 out of 5
Relay sends a physical card to your business address after you open an account. It also allows you to issue up to 50 virtual or physical debit cards for employees and team members. Users can set the spending and withdrawal limits per employee card.
Bluevine: 4 out of 5
As a Bluevine business checking account holder, you can order one free checkbook with Standard Checking, two free checkbooks with Plus Checking, and three with Premier Checking.
Relay: 2 out of 5
Relay doesn’t provide checkbooks to its customers but offers free mailing of bill paychecks.
Bluevine: 3 out of 5
Bluevine business checking clients can receive domestic wire transfers for free, but sending a domestic wire transfer costs $15. Meanwhile, incoming international wires are $15. Outgoing international wires cost $25 for US dollar currencies; however, if you send payments in foreign currencies, it costs $25 plus an extra 1.5% of the payment amount in USD.
Relay: 4 out of 5
Under Relay, clients can accept incoming domestic and international wires for free and pay only $5 for outgoing domestic wires and $10 for outgoing international wires. For Relay Pro users, all wire transfers are free.
Bluevine: 3 out of 5
Even if using MoneyPass ATMs is free for Bluevine users, it collects a $2.50 fee when you transact in an out-of-network ATM. You’ll also pay for potential surcharges from third-party ATM operators.
Relay: 4 out of 5
Using Allpoint ATMs allows Relay users to save on ATM fees. Relay also doesn’t charge fees when you use nonnetwork ATMs, but you might still pay for additional charges from ATM operators.
Bluevine: 4 out of 5
Small business owners can access up to $3 million of FDIC insurance protection through Bluevine’s partnership with Coastal Community Bank and other program banks.
Relay: 4 out of 5
Through Thread Bank’s insured cash sweep program, Relay deposits are covered by FDIC insurance for up to $3 million.
Bluevine: 3 out of 5
Small business owners can tap Bluevine’s line of credit if they need quick business funding for additional working capital or inventory purchases. You have to meet minimum qualifications to qualify, and your application will be subject to approval.
Bluevine customers can upgrade to a Premier Checking account, which provides a higher APY, waivable monthly fee, and 50% off on typical banking fees. Additionally, Bluevine offers a credit card with zero annual fee and unlimited cash back rewards.
Relay: 2 out of 5
Relay offers savings accounts with tiered APY based on balances and a premium subscription service called Relay Pro that provides business owners with robust account features. Relay also offers fee-free wire transfers, same-day ACH, and batch bill payments.
Bluevine: 4 out of 5
Bluevine business credit cardholders can take advantage of its unlimited 1.5% cash back when using the card for business purchases. To qualify for the card, you must be at least 18 years of age with a personal credit score above 700. Your business also needs to be operating or incorporated in the US.
Sole proprietorships and general partnerships are ineligible for a Bluevine business credit card.
Relay: 4 out of 5
Relay offers a Visa credit card that’s available only by invitation, and it earns 1.5% cash back on all purchases. To qualify for the card, you must have a US-based and -operated business and be an LLC, corporation, or partnership that’s been in business for at least one year with an annual income of $240,000.
Relay vs Bluevine Business Checking User Reviews
Bluevine | Relay | |
|---|---|---|
Trustpilot Rating | 4.3 (based on over 8,200 reviews) | 4.6 (based on over 2,000 reviews) |
Users Like | ||
Users Dislike |
Both providers earned high ratings from customers. Several Bluevine users appreciated the ease of setting up their accounts online and praised the customer support they got from the provider. However, a few complained about frozen and closed accounts because of suspicious activity. Reviewers said that the reasons were not specifically disclosed.
Meanwhile, Relay clients reported their satisfaction with the ease of navigating the Relay system. They also reported that the customer service was excellent and that the support team was helpful when they had issues that needed to be resolved.
However, some Relay users mentioned that their accounts were locked after a few months, which made it difficult to access their funds. A few also reported that their checks took more than a week to clear. Others complained that small business owners had a hard time dealing with frozen accounts when checks were under verification.
Frequently Asked Questions (FAQs)
The term bank generally refers to a traditional bank with physical branches you can visit. An online bank has the same capabilities as a traditional bank; however, all transactions occur online without needing a visit to the bank. Online-only banks do not have physical locations.
Relay is a good option based on customer reviews. In general, customers seem pleased with the account and the service they received. Relay also offers free overdrafts and FDIC coverage up to $3 million. This is a great option for businesses looking for an online-only bank with no monthly fees and free wires.
Bluevine is a very solid fintech because of its partnership with Coastal Community Bank. The cash sweep program—combined with the IntraFi network—allows coverage up to $3 million. Bluevine has been in business for over 10 years and is headquartered in Jersey City in the US.
Bottom Line
Although Relay and Bluevine business checking accounts are both digital-only accounts with minimal fees, the providers have very different strengths. Bluevine is an excellent fit if you’re looking for a checking account that can help you earn a competitive 1.5% APY on qualified balances. It’s also a good option for unlimited 1.5% cash back rewards. However, if you need an account that helps you streamline cash management and save on wire transfer fees, the better choice is Relay.
