Choosing the right banking partner is a game-changer for small and medium-sized businesses. Both Holdings and Relay Financial are modern, digital-first platforms designed to help SMBs manage money, streamline operations, and avoid the headaches of traditional banking. But which one is the best fit for your business? Here’s a side-by-side look at what each offers, who they’re best for, and how Holdings stacks up against other top business banking competitors.
Quick Comparison Table
Feature | Holdings | Relay Financial |
|---|---|---|
Interest/APY | Tiered: up to 3.0% APY for large balances | 0% on checking; up to 3.76% APY on savings |
Monthly Fees | None | None (Basic); $30/mo for Relay Pro |
Account Options | Unlimited accounts | Up to 20 checking + 2 savings accounts |
Wire/ACH Fees | Unlimited free wires and ACH | Free ACH; $5 outgoing wire (Basic); free on Pro |
Cash Deposits | Supported | Supported via Allpoint+ ATMs |
Accounting Integration | Built-in, automated, plus QuickBooks integration | Direct sync with QuickBooks, Xero, Gusto |
Bookkeeping | Optional full-service bookkeeping | Not included |
Invoicing & Bill Pay | Unlimited, included | Bill pay included; no built-in invoicing |
Sub-Accounts | Unlimited | Up to 20 checking accounts |
FDIC Insurance | Up to $3M | Up to $3M |
Profit First Friendly | Yes, with unlimited accounts | Yes, with multiple checking accounts |
What Makes Holdings Stand Out?
High-Yield, Tiered APY: Earn up to 3.0% APY on large balances—no need to upgrade or meet spending requirements.
Truly Fee-Free: No monthly fees, no transaction fees, no wire/ACH fees, and no minimum balance requirements.
All-in-One Financial Platform: Banking, accounting, invoicing, bill pay, and even optional full-service bookkeeping—no more juggling disconnected tools.
Unlimited Accounts: Organize your finances your way, with as many accounts as you need for budgeting, taxes, or profit-first strategies.
Automation for Busy Owners: Automated reporting, reconciliation, and financial management built right in.
Cash-Friendly: Deposit cash at supported locations, with no extra hoops or hidden fees.
Where Relay Financial Shines
Multiple Accounts for Cash Management: Open up to 20 checking and 2 savings accounts—ideal for Profit First, budgeting, and separating funds for taxes, payroll, and more.
Savings APY: Earn up to 3.76% APY on savings accounts (not on checking).
Direct Integrations: Syncs seamlessly with QuickBooks, Xero, and Gusto for streamlined bookkeeping and payroll.
Expense Management: Issue up to 50 debit cards with customizable spending limits for team members.
No Monthly Fees (Basic): No minimums, no maintenance fees, and no hidden charges for standard features.
Relay Pro: For $30/month, get free outgoing wires, same-day ACH, and advanced bill pay features.
Who Should Choose Which?
Holdings is best for:
SMBs looking to maximize interest on their deposits with tiered rates up to 3% APY
Businesses seeking a truly fee-free, all-in-one banking and accounting solution
Companies that want unlimited accounts for advanced budgeting or profit-first cash management
Owners who value automation and optional full-service bookkeeping
Businesses that need to deposit cash or want unlimited free wires and ACH
Relay Financial is best for:
Businesses that want to organize finances with up to 20 checking and 2 savings accounts
Companies that want to delegate financial tasks to team members with role-based permissions and multiple debit cards
Owners who want high-yield savings (up to 3.76% APY) and robust cash flow visibility
Teams that need direct integrations with QuickBooks, Xero, and Gusto
Businesses following the Profit First method and need easy account separation
What About Fees and Limits?
Holdings: No monthly fees, no transaction fees, no wire/ACH fees, unlimited free money movement, and no minimum balance requirements.
Relay Financial: No monthly fees for Basic; $30/month for Relay Pro (adds free outgoing wires, same-day ACH, and advanced bill pay). Up to 20 checking and 2 savings accounts per business. Outgoing wire fees apply on Basic.
Compare Holdings to Other Top Business Banks
Curious how Holdings stacks up against other leading business banking solutions? Explore these in-depth comparisons:
The Bottom Line
Both Holdings and Relay Financial offer powerful, digital-first banking for SMBs—but they serve slightly different needs. Holdings is ideal if you want a truly fee-free, all-in-one platform with high-yield APY, unlimited accounts, and integrated accounting. Relay Financial is a great fit if you want to organize your finances with multiple checking accounts, need robust savings APY, and value direct integrations with popular accounting and payroll tools.
Ready to see how Holdings can help your business grow? Explore our full suite of comparisons above, or get started today