Great news to share: Green Beacon Business Services became a Relay Certified Banking Partner yesterday! What exactly does this mean? Well I completed training on how to thoroughly onboard clients to Relay and maximize potential benefits once they’ve become a Relay customer.
Ok, so full disclaimer: my main business account is my Relay account. One thing to know about me is that sales is not my thing. What is my thing is telling others how great (or sometimes not so great) a product or service is. I’ve had several business bank accounts in the past. One was with a very large national bank. No real complaints. But also not anything so special as to write a blog post about the experience. My previous business bank just decided to close its doors one day. That was not a very nice experience.
Relay is very, very different. It has pretty much recreated the online business banking experience from the ground up. Opening (and closing) your account is very easy. But most importantly, it offers easy account access to your accountant/bookkeeper (many banks offer this feature….but it is convoluted and many times you have to contact a service representative to set this up on your account). If you use a cloud accounting program like Quickbooks Online or Xero, you can do ‘one-click’ bank reconciliations right from your banking dashboard.
I totally co-sign the video shared above. But I will like to call out 2 features (out of many) that makes Relay a game changer for any small business owner.
#1 – The Ability To Open Multiple Accounts SUPER Easily
Once you have your main account open, you can open up other accounts with the click of a button. You may think you don’t need this…..but you do! Especially if there is no phone call or paperwork that you have to fill out. Let’s say you want to create an account just for your funds for payroll; or maybe an account just for your tax liability. Etc., etc. You can transfer funds among your own accounts instantly. But holding the necessary funds that you absolutely need a minimum balance in (like payroll), it is great to not have a debit card linked to it that may draw you under that amount. Which brings me to…..
#2 – Incredible Master Control Over Account Debit Cards
This feature alone really sells Relay to me. You can issue up to 50 debit cards for your account. You can issue the debit card with your or your employee’s name on it. You can set the limit on each card yourself. You can control what accounts the debit card draws from. You can temporarily turn off or cancel a card from your dashboard. You also can get a lot of detail about the transactions….including a map of the location of the vendor.
So if you are just getting started and you need a business account; or if you are already an established business who is looking to switch or expand your business banking options, I wholeheartedly suggest Relay. With no minimum balance requirement, why not give them a try?