Relay vs BMO

Relay is an one of the best online business banking accounts for large teams. How does it compare to BMO? 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 BMO has over 900 branches and is the 8th largest bank in North America by assets. Smart Advantage checking has no fee and no minimum balance if you opt for eStatements. Savings need just $100 to open with easy ways to waive fees. Special Rate CDs require a $5,000 minimum opening deposit.

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

		Member FDIC
	Visit Site	Visit Site
	Relay	BMO
	SPECIAL OFFER No-Fee Business Checking - Learn More Read Relay Review	SPECIAL OFFER BMO Smart Advantage Checking Account - Earn $350 Cash Bonus* - Learn More Read BMO 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.	0.01% APY. $5 reward every month you save $200 or more, for the first year.
CD		0.05% - 3.00% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit.
Checking	Up to 20 individual business checking accounts; no monthly fees; no overdraft fees	Smart Advantage, Smart Money, Relationship
Monthly Fee	$0
Money Market		0.80% APY. $25 minimum opening deposit. $10 monthly fee, waived with a $5,000 minimum daily balance.
APY	N/A
Minimum Deposit to Open	$0
ACH Transfer Fee	$0
ATMs	55,000+ AllPoint ATMs	40,000+ BMO and Allpoint 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: 7am - 10pm (CT); Sat-Sun 8am - 8pm
Incoming Wire Transfer Fee	$0
IRA CD		0.05% - 1.25% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit
IRA Money Market		IRA Premium Savers: $100 minimum opening deposit. No monthly maintenance fee
Locations	Online only	981 branches
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
Money Market
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: Free checking with eStatements Large ATM network Good financial tools Cons: Limited branches Low savings APY
Bottom Line	One of the best online business banking accounts for large teams... Read full review	Midwest bank with options for low and high-balance customers... Read full review
	Visit Site	Visit Site
	No-Fee Business Checking	BMO Smart Advantage Checking Account - Earn $350 Cash Bonus* BMO Smart Money Checking Account - Earn $350 Cash Bonus* Savings Account - Up to $60 Bonus
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. BMO: Pricing information from published website as of 04/16/2025 based on 60603 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

BMO Smart Advantage Checking Account - Earn $350 Cash Bonus*

$350 cash bonus* when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening between 2/4/25 - 5/2/25. *Conditions Apply. Accounts are subject to approval and available in the U.S. by BMO Bank N.A. Member FDIC

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Expires 5/2/2025

Member FDIC

BMO Smart Money Checking Account - Earn $350 Cash Bonus*

$350 cash bonus* when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening between 2/4/25 - 5/2/25. *Conditions Apply. Accounts are subject to approval and available in the U.S. by BMO Bank N.A. Member FDIC

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Expires 5/2/2025

Which is Better: Relay or BMO?

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.

Articles on Relay

Relay Financial Review

Relay Financial offers online banking services for businesses. Yes, it is free. But, is it the right platform for you? Find out.

• Relay vs Novo

Articles on BMO

BMO Review

BMO offers low fees and a large ATM network. But savings rates are low. However, the strong features can still make it a good bank for you. Read on.

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BMO Routing Number

If you have a BMO account, you only need to be aware of one routing number. This number is 071025661. Read on and learn how to use it.

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BMO Checking Account Bonus & Promotions

BMO rolls out enticing checking offers from time to time to attract new customers. Find the latest bonus deals here.

Who Owns BMO

BMO is a publicly-traded company with significant institutional investors. These include several well-known Canadian asset management firms and banks.

Is BMO an Ethical Bank

BMO has been recognized as one of the World's Most Ethical Companies for six consecutive years. How did they earn this award? Find out.

BMO Relationship Minimum Balance

Get more perks when you open a BMO Relationship Checking Account. Find out the balance you need to reach to unlock them.

Is BMO a Good Bank

Is BMO a good choice for your banking needs? Find out here.

Is BMO a Safe Bank

Wondering about the security of your funds with BMO? They have a Financial Crimes Unit backing you up, for one. Read on for more details.

What is BMO

BMO Harris is now BMO. But are they a legit bank? Find out if you should bank with them.

BMO Smart Money vs Smart Advantage

BMO's Smart Advantage has $0 monthly fees. Smart Money has no overdraft fees. Which one is a smarter choice? Read on to find out.

Is BMO a Real Bank

BMO, is a U.S bank, part of the Bank of Montreal. It offers solid basic checking options and a large ATM network. But, is it legit? Read on to find out.

Which Do You Think is Best?