Why I switched to Relay Business Banking? 3 Hidden Benefits

[@JamieTrull]

Are you going to try out Relay for yourself? Let me know in the comments below.

[@encoredma]

HI Jamie! I was wondering does Relay work well with your tax bundle you offer on your website? I don't really want a subscription right now for quickbooks online, but thinking about purchasing your bundle to use until I'm ready to upgrade to quickbooks.

[@DJWORLDTOUR]

Hey Jamie, I just finished my application with Relay through your link; Thank you for being such a great resource for me and my business.

[@JamieTrull]

@@DJWORLDTOUR yay! I hope you love it as much as I do!

[@BlakeLewis-mc6ve]

Why don't you tell people about the delays in charges appearing on the account. Your original statement was "you probably dont check profit and losses, but you check your bank account"... yet charges through Relay are delayed and there are serious issues with viewing available balance. So many bouncebacks due to issues with accounts having lower balances.

[@onewire39]

This is my first business and I will go with your recommendation.

[@JamieTrull]

Awesome, great to hear.

[@initforthetech790]

If im selling on amazon which would you prefer? Also, as an accountant how do decide what % to apply to things like paying yourself, taxes, and other things

[@jacquesdobatien3927]

Can’t wait to try it out 👏🏻👏🏻

[@JamieTrull]

Amazing! Can't wait to hear what you think.

[@BlakeLewis-mc6ve]

NOOOOOOOOO!

[@williamcorbell2902]

Thank you

[@JamieTrull]

You're welcome

[@NomadTrailRider]

I'm trying to decide between Relay, Lili, or Mercury... I need multiple bank accounts, for a couple of different businesses. Chase is FEEing me to DEATH! We never deposit cash so I don't need that option. I also HATE quickbooks lol... So I am hoping to find one that allows me to print reports for taxes. Taxes are the vain of my existence at the moment.

[@JamieTrull]

Did you decide yet? Lili is really geared toward freelancers and gig workers whereas Relay is more for small businesses who have or plan to have employees. Mercury is one I've been looking at a bit but seems to be for those looking for more advanced financial tools and international transactions (they seem to be really looking at tech startups, etc). Curious to see what you decided!

[@blessedtoquest]

Yes! We decided on Relay and so far we are loving it!

[@BlakeLewis-mc6ve]

DONT DO RELAY! I heard ALLY may be a better option.

[@JamieTrull]

@@BlakeLewis-mc6ve Why do you say that? I use Relay and love it!

[@blessedtoquest]

@@BlakeLewis-mc6ve so far I am loving Relay

[@tommytinajero2778]

Steer clear of Relay. If you plan on making a deposit, be prepared to jump through lots of hoops. I've never known a bank that does all they can to discourage making a deposit. You heard right. They place limits on how much you can deposit. You have to get approval to deposit more.

[@JamieTrull]

It sounds like Relay's deposit limits are part of their Know Your Customer (KYC) and anti-money laundering (AML) compliance. While these rules can be frustrating, they’re meant to prevent fraud and protect customers. If you plan to deposit large amounts, it’s helpful to contact support to understand the approval process in advance. The longer you are with them, they restrictions loosen up (that's true for most all banks these days).

[@butchwhitcomb]

hi there you were suggested from KZbin I had a question for you I will be doing online and fairs and markets and shows what are your thoughts of what banking system would work best for my situation?

[@JamieTrull]

Great question, its bit too complex to answer here, but please submit it for my live KZbin show here to qualify to have your question answered: www.JamieTrull.com/KZbin

[@anthonysaylaheng4659]

Is this an on-line only account ?

[@JamieTrull]

Yes it is

[@leoisidro5476]

Would you recommend this for a sole prop? I won't have any employees as I provide professional services myself. Or do you think Novo would be better suited for this?

[@JamieTrull]

Great question! I still use and love Novo too. One thing Relay doesn't have (yet) that Novo does have is the ability to send invoices, which I think is great for sole prop service providers. I'd say Novo is really geared toward self-employed people like you, whereas Relay is geared toward businesses with employees. But either will work!

[@leoisidro5476]

@@JamieTrull thank you for getting back to me. I think I'll look a bit more at Novo to see if it can offer me what I really need. I'm just now thinking of separating my personal/business finances (after 2yrs). I know terrible. But I figured now is better than never!

[@iluvmesomehim92009]

They have an option for sole proprietor