Relay Business Checking
Startup / Profit First multi-account checking — $0 Starter, up to 20 checking buckets, QBO/Xero sync; no APY on checking
Live Oak Bank Business Checking
Online U.S. bank checking with waivable monthly fees, unlimited items, Allpoint ATM cash-out, no cash deposits, no checking APY
Costs & Fees
| Metric | Relay Business Checking | Live Oak Bank Business Checking |
|---|---|---|
| Monthly maintenance | Starter $0; Grow $30; Scale $90 limited-time (list $120). Paid plans billed from designated checking account. | Essential $10/cycle if ADB <$1,000; Plus $25/cycle if ADB <$25,000; Analysis $100/mo (offset by earnings credit — rate unpublished) |
| Fee waiver | No balance waivers — Grow/Scale are subscriptions, not waivable by balance | Essential: cycle ADB ≥ $1,000. Plus: cycle ADB ≥ $25,000. Analysis: earnings credit offsets fees. |
| 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 — no charge for checks paid/deposits, ACH, debit card on Essential/Plus (fee schedule 7.21.25) |
| Overdraft/NSF | $0 overdraft fees; transactions that would overdraw decline. Optional backup account internal pull (not a priced OD product). | Overdraft $25; NSF no charge; returned item $5. No daily cap published. |
| 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. | Allpoint 55,000+: $0 from Live Oak. OON: Live Oak $0 + owner surcharge. Foreign ATM 3% of amount. No rebate program. |
| 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 wire $10. Outgoing domestic $19. Outgoing international $40. ACH no charge on fee schedule. ACH collections/payments/EFTPS are Plus/Analysis features only. |
Interest & Yields
| Metric | Relay Business Checking | Live Oak Bank Business Checking |
|---|---|---|
| Checking APY | None — non-interest-bearing checking | None — non-interest-bearing on all three current tiers |
| 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. | |
| 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 Live Oak Banking Company |
Features & Access
| Metric | Relay Business Checking | Live Oak Bank Business Checking |
|---|---|---|
| Branch/ATM network | No branches. Allpoint network (32k–55k+ cited). Cash deposit at Allpoint+ only ($1k/txn). Green Dot retail. | No retail branch network. Allpoint 55,000+ for cash withdrawal only — no ATM cash deposit. OON Live Oak fee $0. |
| Mobile app | iOS ~4.8; Android ~4.5 (~3.5k / ~1.1k reviews per 2026 aggregators) | iOS ~2.6/5 (~109 ratings); Android ~3.0–3.1/5 (~100–107 reviews) — Forbes Advisor Aug 2026 called mediocre |
| Virtual cards | Included — physical + virtual Visa debit with freeze, limits, spend policies | Not disclosed beyond debit Card Center |
| 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. | Sole prop, partnership, LLC, corporation, nonprofit. LP, professional corp, association on savings/CD pages. |
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
Live Oak Bank Business Checking
Pros
- Unlimited transactions and $0 item/ACH/debit fees on Essential/Plus (fee schedule 7.21.25)
- Monthly fee waivable at modest ADB — $1,000 Essential, $25,000 Plus
- Deposits at Live Oak Banking Company (true bank) with optional IntraFi ICS
- Allpoint 55,000+ cash-out with no Live Oak surcharge
- QuickBooks, bill pay, mobile deposit, multi-approver controls; long weekday phone hours (8am–11pm ET)
Cons
- Checking earns no APY
- No cash deposits and no branches
- Essential lacks online wire origination and ACH collections/payments per official matrix
- Outgoing wires $19 domestic / $40 international; Analysis fee schedule not public
- Weak mobile app ratings (~2.6 iOS); ICS liquidity not instant ($350k enrollment minimum)
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.
Live Oak Bank Business Checking
Live Oak Bank offers three online-only business checking tiers at Live Oak Banking Company (Member FDIC): Essential ($10, waived at $1k ADB), Plus ($25, waived at $25k ADB), Plus Analysis ($100, ECR offset unpublished). Fee schedule 7.21.25: unlimited items, $0 ACH/debit, $10 incoming wires, $19/$40 outgoing wires, $25 OD. Essential = QuickBooks, bill pay, mobile deposit. Plus adds wire origination, ACH collections/payments, EFTPS, RDC. No cash, no APY, no branches. Allpoint cash-out only. Optional IntraFi ICS ($350k min). Weak app ratings. $200 bonus expired Apr 2026.