Relay vs Varo Bank
Relay is an one of the best online business banking accounts for large teams. How does it compare to Varo Bank? Read our comparison chart below.
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| Visit Site | Learn More | |
Relay | Varo Bank | |
|---|---|---|
No-Fee Business Checking - | Varo Bank Account - | |
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. | 2.50% APY on all balances. Opportunity to earn 5.00% APY if your daily savings balance does not exceed $5,000 AND you make at least 5 Varo debit card purchases per month AND receive at least $1,000 in direct deposits in either the Varo Bank Account or Savings Account. |
| Checking | Up to 20 individual business checking accounts; no monthly fees; no overdraft fees | No monthly service fee; no minimum balance; no overdraft fees |
| Monthly Fee | ||
| APY | ||
| Minimum Deposit to Open | ||
| Mobile App | ||
| ACH Transfer Fee | ||
| ATMs | over 40,000 fee-free AllPoint 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 | Mon-Fri 8am - 9pm (ET) and Sat-Sun 11am to 7pm (ET) |
| Incoming Wire Transfer Fee | ||
| Locations | ||
| Out of Network ATM Fee | ||
| Outgoing Wire Transfer Fee | $8 for domestic; $5 (Local Network), $25 (SWIFT Network) for international | |
| Overdraft Fee | ||
CreditDonkey® Reviews | ||
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| Checking |  | |
| Fees | | |
| Mobile App |  | |
| Customer Service |  | |
| Pros & Cons | Pros:
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| Bottom Line | One of the best online business banking accounts for large teams... | |
| 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. Varo Bank: Pricing information from published website as of 12/10/2025. | ||
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
25% Discount on Scale Plan
Get Scale Plan for $90/month instead of $120/month. This offer is for a limited time only and may change without notice.
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.
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.
Which Do You Think is Best?
Which Bank Account is Right for You?
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