Relay Business Checking
Startup / Profit First multi-account checking — $0 Starter, up to 20 checking buckets, QBO/Xero sync; no APY on checking
Grasshopper Innovator Business Checking
No monthly fee + tiered checking APY + 1% debit cash back (balance-gated); digital SMB; weak for cash-heavy retail
Costs & Fees
| Metric | Relay Business Checking | Grasshopper Innovator Business Checking |
|---|---|---|
| Monthly maintenance | Starter $0; Grow $30; Scale $90 limited-time (list $120). Paid plans billed from designated checking account. | $0 unconditional (complimentary) |
| Fee waiver | No balance waivers — Grow/Scale are subscriptions, not waivable by balance | N/A — already $0 |
| Transaction fees | No per-item checking cap published. Unlimited standard ACH and digital items. Same-day ACH extra: $1 Starter / $0.50 Grow / included Scale. | Unlimited fee-free transactions advertised; no excess-item fees on published schedule |
| Overdraft/NSF | $0 overdraft fees; transactions that would overdraw decline. Optional backup account internal pull (not a priced OD product). | $0 overdraft fees; overdrafts not permitted. Returned deposited check $10; ACH return $10; intl wire return $5. |
| ATM fees | Allpoint in-network $0 Relay fee. Out-of-network owner surcharge not rebated. Allpoint+ cash deposit $1,000/txn; cash withdrawal $400/txn. | MoneyPass (~37,000+) and SUM (~8,500+) fee-free withdrawals. Out-of-network operator surcharge possible; no rebate published. Cash deposit at deposit-enabled MoneyPass only — $1,000/cardholder/day. |
| Wire/ACH | 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. | Incoming domestic: $0. Outgoing domestic: $10. Incoming intl: $5. Outgoing intl: $25. Standard ACH in/out: $0. Same-day ACH: $0. Instant FedNow: 0.65% ($1 min / $10 max). |
Interest & Yields
| Metric | Relay Business Checking | Grasshopper Innovator Business Checking |
|---|---|---|
| Checking APY | None — non-interest-bearing checking | Tiered variable: 1.00% APY ($0.01–$24,999.99); 1.35% APY ($25,000–$250,000); 1.00% APY (≥$250,000.01) |
| Savings 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. | Innovator MMA: 1.55% APY below $25k; 3.00% APY at ≥$25k (as of 2026-01-05). Separate product. |
| FDIC coverage | Standard FDIC $250,000 per depositor per ownership category at Thread Bank — combined across all Relay sub-accounts | Standard FDIC $250,000 per depositor per ownership category at Grasshopper Bank, N.A. |
Features & Access
| Metric | Relay Business Checking | Grasshopper Innovator Business Checking |
|---|---|---|
| Branch/ATM network | No branches. Allpoint network (32k–55k+ cited). Cash deposit at Allpoint+ only ($1k/txn). Green Dot retail. | No branches. MoneyPass (~37,000+) + SUM (~8,500+) for withdrawals. Cash deposit at deposit-enabled MoneyPass only. |
| Mobile app | iOS ~4.8; Android ~4.5 (~3.5k / ~1.1k reviews per 2026 aggregators) | iOS 4.5 (~327 ratings); Android 4.4 (~125–128 reviews) |
| Virtual cards | Included — physical + virtual Visa debit with freeze, limits, spend policies | Included — up to 5 active (SMB); lock/unlock in app |
| Opening deposit | $0 | $100 |
| Eligibility | U.S.-registered sole prop, LLC, C-corp, S-corp, partnership, nonprofit. Not supported: personal, escrow, trusts, Series LLCs, 401(k)s. | U.S. citizen or permanent resident, 18+, address in 50 states + D.C. All small business owners except prohibited industries. |
Pros & Cons
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
Grasshopper Innovator Business Checking
Pros
- $0 monthly, $0 overdraft fee; unlimited posted transactions on Innovator schedule
- Interest-bearing checking up to 1.35% APY in $25k–$250k band (as of 01/05/2026)
- 1% signature-debit cash back at $10k monthly average with no NSF in 12 months
- Free incoming domestic wires, standard/same-day ACH; outbound domestic wire $10
- Direct FDIC member bank plus optional IntraFi ICS; Autobooks/QBO and virtual Visa debit
Cons
- Checking APY drops to 1.00% above $250k — poor for large idle cash in checking
- Cash deposits limited to $1k/day MoneyPass ATMs with delayed posting
- No bank checkbook; no Zelle; no branches
- Default ACH $10k/day and 5 active virtual cards until limits raised
- U.S. citizen/LPR only; cash-back and best APY band are balance-gated; weekday-only support
Verdict
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.
Grasshopper Innovator Business Checking
Grasshopper Innovator Business Checking is an online-only DDA issued directly by Grasshopper Bank, N.A., Member FDIC — a nationally chartered bank, not a partner-bank fintech. $0 monthly maintenance, $100 to open, free standard and same-day ACH, free incoming domestic wires, $10 outgoing domestic. Checking APY is tiered: 1.00% below $25k, 1.35% at $25k–$250k, 1.00% above $250k (as of 01/05/2026). Separate 1% signature-debit cashback requires $10k monthly average. Cash weak: MoneyPass deposit ATMs $1k/cardholder/day only. Default ACH $10k/day. Optional ICS to $125M. $300 bonus (NW300) through 9/30/2026. Enova acquisition pending 2H 2026.