Relay vs Bank of America

Relay is an one of the best online business banking accounts for large teams. How does it compare to Bank of America? Read our comparison chart below.

Relay lets you open up to 20 individual business checking accounts and 50 debit cards at no extra charge. There's also free cash deposits and free mailed checks through the app. There's no monthly fee.

While Bank of America is one of the largest banks in the U.S. with approximately 4,300 locations and 17,000 ATMs. It is known for good customer service with extended hours. It offers checking, savings, CDs, IRA, and investment accounts through Merrill Edge.

Compare Relay with Bank of America, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

	Relay	Bank of America
		Member FDIC
	Visit Site	Learn More
	SPECIAL OFFER No-Fee Business Checking - Learn More Read Relay Review	OFFER Bank of America Advantage Banking - $300 Bonus Offer Read Bank of America Review
	Benefits and Features
Savings	Earn up to 3% APY: Earn 1% APY on savings balances of less than $50,000, 1.5% APY on savings between $50,000 and $250,000, 2% APY on savings balances between $250,000 and $1,000,000 and 3% APY on savings balances of more than $1,000,000.	Bank of America Advantage Savings Standard Rate: 0.01% APY
CD		7-Month CD - 4.05% APY 10-Month CD - 3.70% APY 13-Month CD - 3.00% APY 25-Month CD - 2.00% APY 37-Month CD - 0.11% APY 1-Month CD - 0.03% APY 120-Month CD - 0.03% APY
Checking	Up to 20 individual business checking accounts; no monthly fees; no overdraft fees
Monthly Fee	$0
APY	N/A
Minimum Deposit to Open	$0
ACH Transfer Fee	$0
ATMs	55,000+ AllPoint ATMs	Approximately 16,000+ ATMs
Balance Requirement	None
Cash Deposit Fee	$0 for cash deposits at Allpoint ATMs
Customer Service	Phone: Monday - Friday, 9 am - 5 pm ET; Email: Everyday	Mon-Fri: 8am - 9pm (ET) Sat: 8am - 8pm (ET) Sun: 8am - 5pm (ET)
Incoming Wire Transfer Fee	$0
IRA CD
Locations	Online only	3,922 financial centers
Out of Network ATM Fee	Fee from ATM owner
Outgoing Wire Transfer Fee	$5 for domestic; $10 for international
Overdraft Fee	$0
	CreditDonkey® Reviews

Checking
Fees
Mobile App
Customer Service
Savings
CD
Pros & Cons	Pros: Up to 20 checking accounts Up to 50 debit cards $0 monthly fee Earn interest with automated savings Cons: No paper checks	Pros: Large branch network Extended service hours Full service banking Cons: Monthly fees Low interest rates Many misc. banking fees
Bottom Line	One of the best online business banking accounts for large teams... Read full review	National bank with widespread accessibility and wide range of services... Read full review
	Visit Site	Learn More
	No-Fee Business Checking
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Bank of America: Pricing information from published website as of 12/03/2024 based on 91107 zip code.

No-Fee Business Checking

$0 monthly service fee
$0 minimum opening deposit
Open up to 20 individual business checking accounts
Earn up to 3% APY with automated savings
Issue up to 50 Visa® debit cards to your team

Banking services provided by Thread Bank and Evolve Bank & Trust; Members FDIC.

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Member FDIC

Bank of America Advantage Banking - $300 Bonus Offer

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Expires 1/31/2025

The $300 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
The offer is for new checking customers only.
Offer expires 01/31/2025.
To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
Additional terms and conditions apply. See offer page for more details.
*A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
Bank of America, N.A. Member FDIC.

Member FDIC

Bank of America® Business Advantage Banking Checking Account - $200 Bonus Offer

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The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
The offer is for new eligible business checking customers only.
Offer expires 12/31/2025.
To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30) days of account opening.
Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**.
Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
Additional terms and conditions apply. See offer page for more details.
*New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or Merrill investment accounts.
** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
Bank of America, N.A. Member FDIC

Member FDIC

Bank of America Advantage SafeBalance Banking®

Banking that helps you stay within your balance.
No monthly maintenance fee each statement cycle when you meet one of the following: an owner of this account is under the age of 25 or maintain a minimum daily balance of $500 in your account or are a member of Bank of America Preferred Rewards®.
Bank of America, N.A. Member FDIC.

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Which is Better: Relay or Bank of America?

Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Relay or Novo.

In short: Relay's checking is excellent.