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Relay vs KeyBank

Relay is an one of the best online business banking accounts for large teams. How does it compare to KeyBank? 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 KeyBank has over 1,200 branches in 15 states. It offers a range of checking and savings accounts. Some relationship products offer perks like lower loan rates and higher savings APY. Key Bank has higher monthly service fees and heavier requirements to waive, but there is a free checking option.

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

 RelayKeyBank
Member FDIC
 Visit SiteVisit Site
 

Relay

KeyBank

SPECIAL OFFER
No-Fee Business Checking - Learn More

Read Relay Review

SPECIAL OFFER
Key Select Checking® - $200 Bonus - Learn More

Read KeyBank Review

 

Benefits and Features

SavingsEarn 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. $10 minimum opening deposit. $4 monthly maintenance fee unless you are an owner of a KeyBank consumer checking account (including the KeyBank Hassle-Free Account).
CD Standard Term CD: 0.05% APY. Terms of 7 days to 10 years. Minimum deposit of $2,500.
CheckingUp to 20 individual business checking accounts; no monthly fees; no overdraft fees 
Monthly Fee
$0
 
Money Market 2.92% blended APY on balances of $25,000 or more. $5,000 minimum opening deposit. Monthly maintenance charge of $20. Can be waived with $25,000 daily balance OR having a relationship package checking account.
APY
N/A
 
Minimum Deposit to Open
$0
 
ACH Transfer Fee
$0
 
ATMs
55,000+ AllPoint ATMs
More than 40,000 KeyBank and Allpoint ATMs nationwide
Balance Requirement
None
 
Cash Deposit Fee$0 for cash deposits at Allpoint ATMs 
Customer ServicePhone: Monday - Friday, 9 am - 5 pm ET; Email: EverydayTelephone Service available 24/7
Incoming Wire Transfer Fee
$0
 
Locations
Online only
More than 1,200 branches in 15 states: Alaska, Colorado, Connecticut, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont, and Washington.
Out of Network ATM Fee
Fee from ATM owner
 
Outgoing Wire Transfer Fee$5 for domestic; $10 for international 
Overdraft Fee
$0
 
 

CreditDonkey® Reviews

 RelayKeyBank
CheckingStarStarStarStarStarStarStarStarHalf StarEmpty Star
FeesStarStarStarStarStar
Mobile AppStarStarStarStarHalf StarStarStarStarStarHalf Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarEmpty Star
SavingsStarStarEmpty StarEmpty StarEmpty Star
CDStarStarStarHalf StarEmpty Star
Money MarketStarStarHalf StarEmpty StarEmpty Star
Pros & ConsPros:
  • Up to 20 checking accounts
  • Up to 50 debit cards
  • $0 monthly fee
  • Earn interest with automated savings
Cons:
  • No paper checks
Pros:
  • Key Financial Wellness Review tool
  • Free checking option
  • 24/7 customer service
Cons:
  • Limited branches
  • High account fees
Bottom LineOne of the best online business banking accounts for large teams... Read full reviewBank with a variety of deposit products and great financial tools... Read full review
 Visit SiteVisit Site

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.

KeyBank: Pricing information from published website as of 06/14/2024 based on 44114 zip code.

Relay

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.
KeyBank
Member FDIC

Key Select Checking® - $200 Bonus

Expires 7/19/2024
Earn $200 after qualified activities until 7.19.24 with interest-bearing Key Select Checking®.

  • Open a Key Select Checking® account online by July 19, 2024.
  • Make the minimum opening deposit of $50, plus one direct deposit of at least $500 within the first 60 days of account opening.
  • Your $200 cash bonus will be deposited into your account within 90 days of meeting requirements. Account must not be closed or restricted during the time of promotional period.

Key Select Checking® is a premium checking account that earns interest and a $100 cash bonus year after year with qualifying activities and has a waivable monthly maintenance fee.

KeyBank
Member FDIC

Key Smart Checking® - $200 Bonus

Expires 7/19/2024
Earn $200 after qualified activities until 7.19.24 with the no-monthly-maintenance-fee Key Smart Checking®.

  • Open a Key Smart Checking® account online by July 19, 2024.
  • Make the minimum opening deposit of $10, plus one direct deposit of at least $500 within the first 60 days of account opening.
  • Your $200 cash bonus will be deposited into your account within 90 days of meeting requirements. Account must not be closed or restricted during the time of promotional period.

Which is Better: Relay or KeyBank?

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 Chase.

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 KeyBank

KeyBank Review

Are you looking for a no-frills checking account or maybe a bank that offers relationship banking services/interest rates? You may have found your fit with KeyBank.

KeyBank Routing Number

Looking to transfer money in or out of your KeyBank checking or savings account? Find your KeyBank routing number and learn more about money transfers in our guide.

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About CreditDonkey
CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

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