Axos Bank Business Checking
Basic = $0 monthly + unlimited items + unlimited domestic ATM rebates. Interest = waivable $10 + declining-tier APY.
Relay Business Checking
Startup / Profit First multi-account checking — $0 Starter, up to 20 checking buckets, QBO/Xero sync; no APY on checking
Costs & Fees
| Metric | Axos Bank Business Checking | Relay Business Checking |
|---|---|---|
| Monthly maintenance | Basic: $0 unconditional. Interest: $10/mo waived if average daily balance ≥ $5,000 | Starter $0; Grow $30; Scale $90 limited-time (list $120). Paid plans billed from designated checking account. |
| Fee waiver | Interest Checking only — $5,000 ADB waives $10 monthly fee. Basic has no monthly fee. | No balance waivers — Grow/Scale are subscriptions, not waivable by balance |
| Transaction fees | Basic: unlimited items (debits, credits, deposited items). Interest: 100 free items/month then $0.50 each. RDA deposits count as 2 items; 60 RDA items/month cap on both. | No per-item checking cap published. Unlimited standard ACH and digital items. Same-day ACH extra: $1 Starter / $0.50 Grow / included Scale. |
| Overdraft/NSF | NSF paid or returned item $25 (max $75/day); no fee if negative balance less than NSF fee. Returned deposited item $10. Linked-account OD transfer free. | $0 overdraft fees; transactions that would overdraw decline. Optional backup account internal pull (not a priced OD product). |
| ATM fees | Axos charge $0. Unlimited domestic third-party ATM surcharge reimbursements on both products. International ATM surcharges not reimbursed. | Allpoint in-network $0 Relay fee. Out-of-network owner surcharge not rebated. Allpoint+ cash deposit $1,000/txn; cash withdrawal $400/txn. |
| Wire/ACH | Incoming domestic + international: $0. Outgoing domestic: $15. Basic reimburses 2 outgoing domestic wires/month. Outgoing international: $50. Online/automated transfers free. ACH origination is treasury add-on. | Incoming domestic: $5 (Aug 2026 official table). Outgoing domestic: $8 Starter / $5 Grow / $5 Scale. Incoming intl: typically $0. Outgoing intl Local Network $5/$3/$1.50; SWIFT $25/$22/$20. Standard ACH in/out: $0. |
Interest & Yields
| Metric | Axos Bank Business Checking | Relay Business Checking |
|---|---|---|
| Checking APY | Basic: none. Interest: tiered variable — 1.01% ($0–$49,999.99), 0.20% ($50k–$249,999.99), 0.10% ($250k–$4,999,999.99), contact RM at $5M+ | None — non-interest-bearing checking |
| Savings APY | Business Premium Savings advertised up to 3.60% APY as of 9/2/2026 — separate product, not checking APY | Plan-tiered on up to 2 savings accounts: Starter 1.11%, Grow 1.75%, Scale 3.00% APY (as of 2026-05-01). Variable; savings cannot originate ACH/wires. |
| FDIC coverage | Standard FDIC $250,000 per depositor per ownership category at Axos Bank (Cert 35546) | Standard FDIC $250,000 per depositor per ownership category at Thread Bank — combined across all Relay sub-accounts |
Features & Access
| Metric | Axos Bank Business Checking | Relay Business Checking |
|---|---|---|
| Branch/ATM network | No SMB retail branches. Any U.S. ATM with unlimited domestic surcharge rebates (~90,000+ network cited). Cash deposits at deposit-taking Allpoint+/MoneyPass ATMs only. | No branches. Allpoint network (32k–55k+ cited). Cash deposit at Allpoint+ only ($1k/txn). Green Dot retail. |
| Mobile app | iOS ~4.7; Android ~4.6 (~10.1K reviews); NerdWallet weighted ~4.52 (Feb 2026) | iOS ~4.8; Android ~4.5 (~3.5k / ~1.1k reviews per 2026 aggregators) |
| Virtual cards | Standard Visa debit only; virtual employee cards not disclosed | Included — physical + virtual Visa debit with freeze, limits, spend policies |
| Opening deposit | Basic: none. Interest: $100 | $0 |
| Eligibility | U.S. companies only — sole prop, GP, LLC, LP/LLP, C-corp, nonprofit corp, association/HOA. U.S. resident signer with SSN and physical business address required. | U.S.-registered sole prop, LLC, C-corp, S-corp, partnership, nonprofit. Not supported: personal, escrow, trusts, Series LLCs, 401(k)s. |
Pros & Cons
Axos Bank Business Checking
Pros
- Basic: $0 monthly, $0 open, unlimited item processing (Agreement 07/2025)
- Unlimited domestic ATM surcharge rebates on both products
- Incoming domestic and international wires $0 on fee schedule
- Basic reimburses two outgoing domestic wire fees per month
- Interest Checking publishes dated deposit APY (1.01% as of 9/2/2026) with no spend gate; IntraFi ICS to $265MM
Cons
- No branches; cash is ATM/retail-constrained with possible retailer fees
- Interest Checking: $0.50/item after 100 plus 60-item RDA cap; APY falls sharply above $50k
- RDA availability can be five business days by contract
- Business support weekday-only; reviews cluster on holds, portal bugs, slow ops
- Outbound international wires $50 + undisclosed FX; no multi-currency; weak native multi-user
Relay Business Checking
Pros
- Starter $0 with no minimum balance, $0 OD fees, and no per-item checking cap
- Up to 20 checking accounts (50 on Scale) with auto-transfer rules — rare on free tier
- Native QuickBooks Online and Xero feeds on all plans including Starter
- Outbound domestic wires $8/$5/$5 — below typical big-bank $15–$30
- IntraFi sweep to $3M; Scale savings 3.00% APY; unlimited users and virtual debit cards
Cons
- Checking earns 0% APY — savings yield is plan-gated and mid-pack at Starter/Grow
- Mobile check funds can take up to 7 business days
- Cash deposits via Allpoint+/Green Dot only — retailer fee up to $4.95, low caps
- Official Aug 2026 table lists $5 incoming domestic wires (conflicts with free-inbound marketing)
- BaaS structure (Thread Bank); sub-accounts do not multiply $250k FDIC; weekday-only support
Verdict
Axos Bank Business Checking
Axos Bank offers two online SMB checking accounts at a direct FDIC member bank (Cert 35546). Basic Business Checking is structurally cheap: $0 monthly, $0 open, unlimited items, free incoming wires, and two reimbursed outgoing domestic wires — ideal for digital SMBs. Business Interest Checking adds tiered APY (1.01% below $50k as of 9/2/2026) but charges $10 unless $5k ADB and meters items after 100. Both cap mobile deposits at 60 items with up to 5th-business-day availability. IntraFi ICS to $265MM helps large balances but checking APY collapses above $50k. Weak on branches, cash, multi-user, and 24/7 support. Price Interest against the $50k APY cliff and item cap.
Relay Business Checking
Relay Business Checking is an online SMB platform from Relay Financial Technologies with deposits at Thread Bank, Member FDIC, and IntraFi sweep to $3M. Checking is non-interest-bearing across Starter ($0), Grow ($30), and Scale ($90–$120) plans; savings APY is 1.11%/1.75%/3.00% as of May 1, 2026. Differentiator is operational: up to 20–50 checking buckets with auto-allocation, unlimited users, virtual Visa debits, and native QBO/Xero on Starter. Official Aug 11, 2026 fees: incoming domestic wire $5, outgoing $8/$5/$5, same-day ACH $1/$0.50/included. Weak on cash deposits, check holds (7 days), 0% checking, and BaaS partner-bank structure. Strong for Profit First digital SMBs; weak for cash retail and same-day check users.