The main difference between Relay vs Found business checking lies in company size. With Relay’s solid collaboration features—such as the ability to create several subaccounts and debit cards, customize account permissions, and set strict spending limits for business funds—teams are more agile.
In contrast, Found is designed for one-person businesses, such as freelancers and self-employed professionals, since it offers tax preparation, accounting, and invoicing tools. These streamline bookkeeping for independent business owners or solopreneurs.
Here is a summary of when to choose Relay vs Found business checking:
- Relay Relay is a financial technology (fintech) company, not a bank. It provides deposit services and Federal Deposit Insurance Corporation (FDIC) insurance through a supporting bank partnership with Thread Bank is best for businesses needing multiple accounts and debit cards.
- Found Found is a fintech company, not a bank. It provides deposit services and FDIC insurance through a supporting bank partnership with Piermont Bank. is best for freelancers, solopreneurs, and self-employed individuals.
Relay vs Found Business Checking Quick Comparison
 Relay Business Checking |  Found Business Checking | |
|---|---|---|
Required Opening Deposit | $0 | $0 |
Required Balance Minimum | $0 | $0 |
Transaction Limit Before Fees | Unlimited | Unlimited |
Monthly Fees | $0 | $0 |
ACH Fees | $0 | $0 |
Domestic Wire Transfer Fees | Incoming: $0 Outgoing: $5 | Incoming: $0 Outgoing: $15 |
International Wire Transfer Fees | Incoming: $0 Outgoing: $10 | N/A |
ATM Fees | ||
Cash Deposit Fees | Accepted at over 80,000 retail locations; $2 per transaction | |
For More Information |
Relay Business Checking | Found Business Checking | |
|---|---|---|
Debit Card | Up to 50 Visa Debit Cards (physical or virtual) | Mastercard Business Debit Card (physical and virtual) |
Reserve Accounts | ||
Accounting Software Integrations | QuickBooks and Xero | QuickBooks and Found Self-Employed Bookkeeping Software |
Business Software Integrations | Includes CashApp, Gusto, PayPal, Plaid, Shopify, Square, Stripe, Venmo, Wise, and Envestnet | Yodlee | Cash App, PayPal, Square, Stripe, and Venmo |
Customer Service | Phone (1-888-205-9304), chat, and email | |
Invoicing Products | N/A | Unlimited free invoicing |
Other Products Available | Savings accounts, credit cards, and Relay Pro | Found Plus |
For More Information |
When to Use Relay, Found, or Alternatives
Once you’ve selected a provider, refer to our guide on how to open a business bank account for application preparation tips.
Relay vs Found Business Checking Comparison of Features
Relay | Found | |
|---|---|---|
3.9 out of 5★ | 3.3 out of 5★ | |
Check Deposits | ★★★★ | ★★★ |
Cash Deposits | ★★★★ | ★★★ |
ATM Network & Fees | ★★★★ | ★★★ |
ACH | ★★★★ | ★★★★ |
Wire Transfers | ★★★★ | ★★ |
Collaboration Tools | ★★★★★ | ★★ |
Reserve Accounts | ★★★★★ | ★★★ |
Accounting Tools | ★★★★★ | ★★★★★ |
Invoicing | 0 | ★★★★★ |
Interest-earning Accounts | ★★★★ | ★★ |
Premium Versions | ★★★★ | ★★★★ |
Rating Explanation: ★★★★★: This feature enhances your banking experience at little to no cost. ★★★★: This feature has a few minor drawbacks or limits or comes at a slight cost. ★★★: This feature has a few drawbacks or limits or comes at a slightly high cost. ★★: This feature has a few major drawbacks or limits or comes at a high cost. ★: This feature has major drawbacks or limits. 0: This feature is unavailable. | ||
Comparing Relay vs Found business checking features shows that Relay has an edge when it comes to basic banking features, such as support for check deposits, fee-free cash deposits, and affordable ATM access. It also provides more collaboration tools. Meanwhile, Found excels at providing business paperwork tools, such as accounting and invoicing.
Relay and Found both offer two types of business checking accounts. Neither account has monthly maintenance fees and minimum balance requirements.
Relay: 4 out of 5
You can deposit checks remotely through the Relay mobile app.
Found: 3 out of 5
The Found app has a mobile check deposit function. However, the feature is only available to eligible users.
Relay: 4 out of 5
You can use your debit card at Allpoint+ ATMs to deposit cash for free into your Relay account. Alternatively, you can also make cash deposits at over 90,000 Green Dot retail locations for a fee of up to $4.95 per deposit.
Found: 3 out of 5
Found supports cash deposits through over 80,000 participating retail locations. You can find these locations in the Found app. There is a fee of $2 per deposit, and you have a deposit limit of $2,000 per week.
Relay: 4 out of 5
You can make surcharge-free ATM transactions at all Allpoint and Allpoint+ ATMs.
Found: 3 out of 5
Found lets you make ATM transactions at any ATM that accepts Mastercard. Third-party operator fees may apply.
Relay: 4 out of 5
Relay charges no fees for incoming and outgoing ACH transfers. Funds will arrive within two days if you are enrolled in Relay Standard. If you upgrade to Relay Pro, funds will arrive within the same day.
Found: 4 out of 5
Found offers unlimited fee-free ACH transfers.
Relay: 4 out of 5
Relay charges zero fees for all incoming wire transfers. Outgoing domestic wire transfers cost $5, while outgoing international wire transfers cost $10. If you upgrade to Relay Pro, all wire transfers are free.
Found: 2 out of 5
Found doesn’t charge fees for incoming domestic wire transfers but charges $15 for outgoing domestic wire transfers. Additionally, it provides no support for international wire transfers, whether incoming or outgoing.
Relay: 5 out of 5
By letting you provide team members, including accountants and bookkeepers, access to your account, Relay gives you the ability to divide business banking responsibilities across your team. You can customize each member’s level of account access to ensure that your money and banking data stay protected.
Additionally, Relay lets you issue up to 50 physical or virtual debit cards. You can also customize spending limits and rules to make sure each card will be used responsibly.
Found: 2 out of 5
Found offers limited collaboration tools. You can permit accountant access, which allows them to view and edit your account activity, categorize expenses, create and edit expense rules, export activity, download your Schedule C form, and more. They cannot perform fund transfers from your Found account.
Relay: 5 out of 5
Through Relay, you can create up to 20 checking accounts under a single ID (10 if you are a sole proprietor).
Found: 3 out of 5
With Found, you start with one main account and one subaccount (called a pocket) for taxes. You can create up to four additional pockets that can be customized.
Relay: 5 out of 5
Relay automatically categorizes and provides detailed transaction data for all card purchases. It syncs your data with QuickBooks Online or Xero to help you reconcile transactions with ease. Additionally, it offers receipt management by letting users snap photos of your receipts for digital storage.
Found: 5 out of 5
Found offers automatic expense categorization. It uses your account data to create expense, income, profit, and loss reports. The app comes with a receipt capture function that pulls data from pictures of physical receipts.
It also offers the following tax preparation features:
- Automatically set aside a percentage of your income into a dedicated tax bucket
- Generate real-time estimates of how much you owe in tax
- Track tax write-offs
- Auto-fill your Schedule C Form
Relay: 0 out of 5
Relay does not offer invoicing tools.
Found: 5 out of 5
With Found, you can create and send unlimited personalized invoices. The platform accepts a wide range of payment options, including Cash App, Zelle, PayPal, Venmo, credit card, debit card, and direct deposit. Found will also notify you when your invoices are viewed or paid, and it sends payment reminders automatically to your clients.
Relay: 4 out of 5
You can open up to two Relay business savings accounts. Below are the provided APY rates:
- For balances under $50,000: 1.0%
- For balances between $50,000 and $250,000: 1.5%
- For balances between $250,000 and $1 million: 2.0%
- For balances over $1 million: 3.0%
Relay spreads your savings account deposits across program banks in the Thread Bank deposit sweep program, thus providing FDIC insurance of up to $3 million.
Found: 2 out of 5
You can only earn interest on your Found deposits by upgrading to Found Plus, which has a monthly fee of $19.99. Found Plus pays 1.5% APY on balances of up to $20,000.
Relay vs Found Business Checking User Reviews
| | |
|---|---|---|
Trustpilot Rating | 4.6 (based on 1,700-plus reviews)[1] | 4.3 (based on 500-plus reviews)[2] |
Users Like |
|
|
Users Dislike |
|
|
Comparing Found vs Relay business checking reviews on Trustpilot, a third-party reviews site, both obtained high ratings—although Relay comes out slightly higher as it has more reviews. Relay users appreciated the ability to create multiple accounts, the lack of hidden fees, and the attentive customer service they received. Meanwhile, Found customers said that they value the ease of navigating the app and organizing finances through Found’s accounting and tax tools.
Some Relay complaints mentioned that their checks took some time to clear, and a few disliked that the provider asked for extensive business information when they applied for a new account.
Found also has its share of negative reviews, with some customers stating that the check deposit limit was too low, especially when one is running a business. Others claimed that they had transaction disputes that took a long time for Found’s customer support team to resolve.
Frequently Asked Questions (FAQs)
Yes. Through Thread Bank, your Relay deposits are FDIC-insured and are covered up to $3 million through its insured cash sweep program.
Yes, Relay allows users to deposit cash for free at Allpoint ATMs and over 90,000 Green Dot retail locations at a fee of up to $4.95 per transaction.
Found partners with Piermont Bank to provide FDIC-insured business deposits of up to $250,000.
Bottom Line
Choosing between Relay and Found is a matter of team size. If you lead more people, Relay is the better choice since you can create up to 20 checking accounts and issue up to 50 debit cards. It helps you manage large teams sharing the same accounts. Meanwhile, freelancers, self-employed individuals, and solopreneurs are best suited to Found for its bookkeeping and tax preparation features. Individuals can save time on daily business paperwork.
