Melio Business Payments vs Relay | Business Banking Utilisation & Stats

Relay is online business banking that puts small business owners in complete control of their cash flow. What Relay offers: • 20 checking accounts to earmark cash for operations, payroll, taxes and more • Multiple debit and credit cards—with built-in spend policies—to meticulously organize spending by team or project • 1.5% cash back* on all credit card purchases, and savings accounts with up to 3.00% APY** to help you grow reserves • All the payment types you could need—including ACH transfers, wires and checks (yes, including paper checks!) • Automations—like maximum-balance transfer rules—that make money move for you so can focus on running your business Plus, each business is insured up to $3M for funds on deposit via Thread Bank, Member FDIC.*** Learn more at relayfi.com. Relay is a financial technology company, not a bank. Banking services are provided through Thread Bank, Member FDIC. The Relay Visa® Debit Card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa® cards are accepted. The Relay Visa® Credit Card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. *Terms and conditions apply to the cash back rewards program. Cash back will be credited to your Relay checking account at the end of your 30-day billing cycle. ATM transactions, the purchase of money orders or cash equivalents made with your Relay Visa® Credit Card are not eligible for cash back. Please refer to https://relayfi.com/visa-signature-rewards-program-terms for more details. **The interest rates and annual percentage yield on your account are accurate as of 9/18/2024 and are variable and subject to change based on the target range of the Federal Funds rate. APY will vary between 1.00%-3.00% depending on the balances held. Earn 1.00% APY on savings balances of less than $50,000, 1.50% APY on savings between $50,000 and $250,000, 2.00% APY on savings balances between $250,000 and $1,000,000 and 3.00% APY on savings balances of more than $1,000,000. There are no minimum balances or minimum deposits required to earn interest on your account. ***Your deposits qualify for up to $3,000,000 in FDIC insurance coverage when placed at program banks in Thread Bank, Member FDIC’s deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://go.thread.bank/sweepdisclosure and a list of program banks at https://go.thread.bank/programbanks. Please contact customerservice@thread.bank with questions regarding the sweep program.