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 3,700 locations and 15,000 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.
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| Visit Site | Learn More | |
Relay | Bank of America | |
|---|---|---|
No-Fee Business Checking - | Bank of America Advantage Banking - Up to $500 Cash Offer | |
Benefits and Features | ||
| Savings | Earn up to 2.68% APY. Earn 0.91% APY on Starter Plan, 1.55% APY on Grow Plan, and 2.68% APY on Scale Plan. | Bank of America Advantage Savings Standard Rate: 0.01% APY |
| CD |
| |
| Checking | Up to 20 individual business checking accounts; no monthly fees; no overdraft fees |  |
| Monthly Fee | ||
| APY | ||
| Minimum Deposit to Open | ||
| Mobile App | ||
| ACH Transfer Fee | ||
| ATMs | ||
| Balance Requirement | ||
| Cash Deposit Fee | $0 for cash deposits at Allpoint ATMs | |
| Customer Service | Phone: Monday - Friday, 9 am - 5 pm ET; Email: Everyday |
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| Incoming Wire Transfer Fee | ||
| IRA CD | | |
| Locations | ||
| Out of Network ATM Fee | ||
| Outgoing Wire Transfer Fee | $5 for domestic; $10 for international | |
| Overdraft Fee | ||
CreditDonkey® Reviews | ||
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| Checking |  |  |
| Fees | | |
| Mobile App |  | |
| Customer Service | | |
| Savings | | |
| CD | | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | One of the best online business banking accounts for large teams... | National bank with widespread accessibility and wide range of services... |
| Visit Site | Learn More | |
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 12/12/2025 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 2.68% APY with automated savings
- Issue up to 50 Visa® debit cards to your team
Bank of America Advantage Banking - Up to $500 Cash Offer
- The cash offer up to $500 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 1/31/2026.
- To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* into that new eligible account within 90 days of account opening. Your cash bonus amount will be based on the total amount of your Qualifying Direct Deposits received in the first 90 days.
Cash Bonus Total Qualifying Direct Deposits $100 $2,000 $300 $5,000 $500 $10,000+ - If all requirements are met 90 days after account opening, Bank of America will attempt to deposit your bonus into your new eligible account within 60 days.
- Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
- 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.
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.
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.
Articles on Bank of America
Bank of America Review
Bank of America is a national bank with many account options and user-friendly online banking. But does this convenience come at a cost? Read on.
Bank of America Savings Account Interest Rate
Bank of America's Advantage Savings has a standard APY way below the national average. Read on to find out more.
Bank of America High Yield Savings
Bank of America offers various banking products and services. But does it have a high-yield savings account? Find out here.
Bank of America Problems
Bank of America may be one of the biggest banks, but many customers find a lot of issues with their banking services. What are they? Keep reading.
Bank of America CD Rates
Bank of America is one the biggest banks in the U.S. But are their CD rates worth it? Read on to find out.
How to Close a Bank of America Account
Want to close your Bank of America account? Learn how and what you need to do before you close your account.
Bank of America Hours
Bank of America is open 5-6 days a week, depending on the location. Take a look at their business hours below.
Bank of America Routing Number
Find your Bank of America routing number and learn about money transfers in our guide.
Which Do You Think is Best?
Which Bank Account is Right for You?
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