If I could give this zero stars, I would. First of all, your money is not safe here. They say they are backed by Thread Bank in Tennessee and are FDIC insured, but in reality you don't know who your money is with because their support team is new, the entire company is tiny, and they are highly dysfunctional and according to several attorneys my firm spoke with - overreached and broke banking regulations multiple times.
First, they held my money I received from a client. It was nearly six figures in receivables. Then they held it again after telling me their "investigation" was over.
They made me go late on my commercial mortgage payment due to this month of crazy holds, I could not access any of my money, and the worst part?
Calling into the support team was a three hour hold and resulted in a tech CS rep - not a banker - telling me they would find out more information.
It also resulted in learning that they do not give ANY contact information except support at relayfi dot com so they can be completely anonymous. They try to evade you if they are not trying to close a new deal and if you have landed in the fraud or risk department because a random wire flagged something in their system or something other that you could not control, they will GO DARK.
This is the worst. I called Thread Bank and they told me I could not go to Tennessee and withdraw. Worst, they told me that even though Relay Fi was telling me that everything was in their hands - that everything was actually in Relay Fi's hands.
Imagine having all your money tied up for 1 month (assuming you do not have the foresight to know you need more than one bank). Imagine even that much tied up when you had already allocated it. And every time you call, you get no answers.
Probably the most unsavory experience I have ever had with a bank. RUN FAR AWAY!!!!