RelayFi is a financial technology company that offers a suite of online business banking services tailored for small businesses. This article will explore various alternatives to RelayFi, providing insights into what RelayFi does and how other platforms compare in terms of features and benefits.
Reviews
Users have shared a mix of positive and negative feedback about RelayFi. Many appreciate the platform's ease of use, security features, and the ability to separate funds into different accounts. These aspects have been particularly helpful for small business owners who need to manage their finances efficiently. However, some users have expressed frustration with occasional technical glitches and delays in customer support response times. Despite these issues, the overall sentiment remains positive, with many users finding RelayFi to be a valuable tool for their business banking needs.
- "Relay has been great for my growing business. Having the ability to separate funds into different accounts is a very valuable feature." - Gabrielle Jones
- "We have had a great experience with Relay and I plan to use this for my businesses moving forward. It makes it very easy to add accounts, cards, users, vendors, etc." - Anthony Halsch
For more detailed reviews, visit Relay Financial Reviews.
Best alternatives to RelayFi
1. OneSafe
OneSafe is a financial technology company offering a blend of traditional and Web3 financial services, providing comprehensive account services tailored for companies operating in both fiat and cryptocurrencies.
- Features: Simple onboarding, global payments, corporate cards, multi-currency support, global accounts, seamless payments, state-of-the-art security measures.
- Pricing: Account opening is free, no minimum balance, no monthly fees, corporate cards and invoices included, 0.1% fee for US domestic payments, 0.2% fee for Sepa payments, 0.2% fee + $25 Swift for international wires, $20 Fedwire fee, 1% FX fee on corporate cards, 0.1% fee for USDT transactions, fiat to crypto conversion included.
- Testimonials: Users praise OneSafe for its exceptional customer support and seamless integration of fiat and cryptocurrency transactions. Many find it a game-changer for simplifying payroll and expense management. For more details, visit the OneSafe website.
2. Kontist
Kontist offers a comprehensive business banking solution for self-employed individuals in Germany. The service includes a business bank account, automated bookkeeping, and business tax returns, all managed through a single app. Kontist aims to simplify financial management, allowing users to focus on their business.
- Unique Features: All-in-One App, Automatic Tax Calculation, AI-Supported Bookkeeping, Real-Time Bank Transfers, Mobile & Web Banking, Visa Business Debit Card, Integration with Apple Pay & Google Pay, Invoicing Tool, Advance VAT Returns, Tax Return Preparation, Premium Account Features.
- Pricing:
- Free Plan: €0 per month plus VAT. Conditions apply if monthly transactions are less than €300, a fee of €2 per month applies. Each customer has 10 free SEPA-transfers and direct debits every month; after that, €0.15 per transaction will be charged.
- Premium Plan: €9 per month plus VAT.
- Bookkeeping Plan: €29 per month plus VAT.
- Testimonials: Users generally appreciate the ease and efficiency of using Kontist. One user, Veronica, mentioned, "No More Dreading Dealing with German Taxes... using this service has been a game-changer." However, another user, Tanya, criticized the service, stating, "Their tax service is extremely overpriced and totally not recommended!... the monthly cost was sky high (around 120-150EUR per month) WITHOUT dedicated service." For more reviews, visit Trustpilot.
3. Airwallex
Airwallex is a global payments and financial platform trusted by over 100,000 companies worldwide. It offers software and APIs to simplify global payments and financial operations, helping businesses unlock new opportunities and grow without limits.
- Unique Features: Simple setup, fast transfers, cost-effective, human support, cloud native, high security, global compliance, proprietary local payments network, multi-currency wallet, high-speed transfers.
- Pricing:
- Explore Plan: $0 or $29 per month. $0/month if you deposit at least $5k per month or hold a minimum balance of $10k. Features include multiple accounts, local bank details in 20+ currencies, free transfers to 120+ countries, interbank FX rates, multi-currency company and employee cards, online card and local payment method acceptance, and integrations with Xero, QuickBooks, and NetSuite.
- Grow Plan: $99 per month. Includes everything in the Explore plan plus international batch transfers, more free company cards, expense management, domestic and international bill pay, automated receipt and bill data extraction, and additional integrations.
- Accelerate Plan: $499 per month. Includes everything in the Grow plan plus centralized management of finances across global entities, single sign-on (coming soon), advanced NetSuite integration, HRIS platform integrations (coming soon), dedicated account manager, and onboarding support.
- Custom Plan: Custom pricing. Tailored for high-volume businesses, custom API implementations, and embedded finance solutions.
- Additional Fees: FX & transfers: 0.5% above interbank rates for major currencies, 1% for others. SWIFT transfers: $10-30 per transfer. Spend user fees: $15 per additional employee card user/month. Payments: Domestic cards at 1.65% + $0.30, international cards at 3.40% + $0.30, local payment methods at $0.30 + payment method fee.
- Testimonials: Users generally appreciate the ease of managing business transactions and the intuitive app interface. One user, Wong Loke Hsien, mentioned, "I’ve been using Airwallex for managing our business transactions, and it’s been a real time-saver." However, another user, Pierrick C, criticized the service, stating, "They suddenly started to refuse money transfer for no reason. They won’t tell me why or how to solve the situation." For more reviews, visit Trustpilot.
4. Hype
HYPE Business is an online business account designed for sole proprietorships and freelancers with a VAT number. It offers a range of features to simplify financial management for small business owners.
- Unique Features: Free ordinary and instant transfers, simplified F24 payments, Tax Manager for tax estimation and saving, included micro-insurances, World Elite Mastercard, 7/7 technical support, global payment and withdrawal capabilities, Radar for financial oversight, zero-fee promotion by meeting a spending threshold.
- Pricing: Monthly cost of €2.90, annual fee of €34.80, no activation fee, free SEPA transfers, 10 free instant transfers per month (then €2 each), free cash withdrawals from ATMs in Italy and abroad, 1.5% markup on foreign currency transactions, €2.00 for cash recharges at authorized points, free F24 payments, €1.99 for blank or pre-marked bulletins, €1.00 for RAV, pagoPA, and CBILL.
- Testimonials: Users generally appreciate the ease of use and the range of services available. One user, Roberto Cardoni, mentioned, "Easy and intuitive to use, a lot of services available." However, another user, Paola Maffei, expressed frustration, stating, "I received my first transfer to my Hype account and only then found out that my account had been blocked. It is not clear from mobile banking, and I did not even receive an email from Hype that my bank account is blocked." For more reviews, visit Trustpilot.
5. Anna Money
ANNA Money offers a business account service in the UK that can be opened online for free. The service includes a business debit card, virtual cards, payment links, cash top-ups, special partner offers, and integration with Apple Pay and Google Pay. Additional features include money-saving pots, instant payment notifications, direct debits, standing orders, cashback credit cards, small business loans, and open banking. The account is designed for freelancers, small businesses, and creative professionals.
- Unique Features: Quick account setup, virtual business debit cards, payment link and webpage, cash top-ups, special partner offers, Apple Pay and Google Pay integration, expense management, money-saving pots, instant payment notifications, free direct debits and standing orders, business cashback credit card, small business loans, open banking.
- Pricing: The pricing plans start at £0 per month. Users only pay for the services they use. If the account is not used for a month, no monthly fee is charged for that month.
- Testimonials: Users generally appreciate the ease of use and customer support. One user, Usman, mentioned, "I’ve been with ANNA for nearly 4 years now, and have recently just opened another company with them. Since then they have provided nothing but an excellent service." However, another user, anon anon, criticized the service, stating, "Avoid at all costs!!! ANNA have held on to a very large amount of company money for weeks, they are uncontactable or helpful." For more reviews, visit Trustpilot.
6. Credem
Credem Banca offers a wide range of banking products and services tailored for individuals, families, businesses, and professionals. These include current accounts, credit cards, loans, mortgages, insurance, and investment options. The bank emphasizes customer well-being, sustainability, and innovation in its service delivery.
- Unique Features: Wellbanking People, Green Initiatives like the Green Home Mortgage, Digital Services including online account opening and digital loan applications, Customer-Centric Approach with simple and transparent solutions, comprehensive Support and Security for online services, and a commitment to Sustainability and Innovation.
- Pricing: The pricing details for Credem's products and services are not explicitly provided on the contact page. For detailed pricing information, users are encouraged to visit specific product pages or contact Credem directly through the provided contact methods.
- Testimonials: Users generally have mixed feelings about Credem. One positive comment from Steve Smith states, "I have found both the products and service of the branch at Citadella Del Capo as nothing but very good. The whole approach is courteous and professional." On the other hand, Dan Racioppa shares a negative experience, "My experience from the very beginning has been horrible. They were quick to respond when it came to having the paperwork signed and then everything went downhill." For more reviews, visit Trustpilot.
7. Currensea
Currensea is a travel debit card that links directly to users' existing UK bank accounts, allowing them to save on foreign exchange fees when spending abroad. It offers real-time exchange rates, instant spend notifications, and various security features.
- Unique Features: Direct link to existing bank accounts, no hidden fees, real-time notifications, Mastercard purchase protection, ability to freeze the card, 2-factor authentication, spend limits, contributions to environmental projects.
- Pricing:
- Essential Plan: Subscription-free, 0.5% FX rate on spending abroad, 0.5% FX rate on money transfers, 0.5% FX rate on ATM withdrawals with a 2% rate over £500 per month.
- Premium Plan: £25 per year, 0% FX rate on spending abroad, 0.5% FX rate on money transfers, fee-free ATM withdrawals with a 1% rate over £500 per month.
- Elite Plan: £120 per year, 0% FX rate on spending abroad, 0.5% FX rate on money transfers, fee-free ATM withdrawals with a 1% rate over £750 per month.
- Testimonials: Users generally appreciate the ease of use and savings on FX fees. One user, IAG, mentioned, "It was easy to apply for a Currensea card, and it arrived quickly. Setting it up was also simple and it has been working perfectly abroad." However, another user, Honest M, noted, "Only thing to be mindful of is that your linked principal bank account can have a delay showing cleared transactions." For more reviews, visit Trustpilot.
8. Novo
Novo offers an online business checking account with no hidden fees, no minimum balance requirements, and 100% online accessibility. It provides tools for managing business finances, including free ACH transfers, free incoming wires, secure payments, and free virtual and physical debit cards. Novo also offers additional services like bookkeeping, invoicing, integrations, and funding options.
- Unique Features: No hidden fees, no minimum balance requirements, 100% online account management, free ACH transfers with low-cost express availability, free incoming wires, free virtual and physical debit cards, ATM fee reimbursement up to $7/month, personalized customer service, AI-powered bookkeeping, exclusive partner discounts, integration with top business tools, FDIC insurance up to $250,000 through Middlesex Federal Savings, F.A.
- Pricing: Novo offers a straightforward pricing model with no hidden fees and no minimum balance requirements. Users benefit from free ACH transfers, free incoming wires, and ATM fee reimbursements up to $7 per month. Additional services like bookkeeping and invoicing are included at no extra cost.
- Testimonials: Users generally appreciate Novo for its ease of use and comprehensive features tailored for small businesses. One positive comment from Lisa Benson states, "Novo is super easy to use. I am by no means a banking expert, but navigating through their platform is a breeze." However, some users have faced issues, as highlighted by Clean Sweep, who mentioned, "This bank is terrible. I had a business account with a small balance on it and when I tried to log in my password wouldn’t work. Contacted customer service and they said my account was closed due to inactivity." For more reviews, visit Trustpilot.
9. OneMoneyWay
OneMoneyWay is a digital platform that facilitates global payments, secure transfers, virtual and physical payment cards, business accounts, card acquiring, and payment terminals. The services are provided by regulated partners, ensuring compliance and security.
- Unique Features: Fast onboarding, top-grade security, low monthly fees, invoicing module, local IBAN accounts, corporate cards, 24/7 support, currency exchange, scalable account plans.
- Pricing:
- Starter Plan: £49 per month (billed annually). Includes 1 business account, 1 physical Mastercard, 1 virtual Mastercard, currency exchange, invoice module, local clearing, Danish account and REG.NR., and a dedicated account manager.
- Business Plan: £99 per month (billed annually). Includes up to 3 business accounts, 2 physical Mastercards, 3 virtual Mastercards, currency exchange, invoice module, local clearing, Danish account and REG.NR., and a dedicated account manager.
- Enterprise Plan: Custom pricing (contact required). Includes unlimited business accounts, physical and virtual Mastercards, currency exchange, invoice module, local clearing, Danish account and REG.NR., and a dedicated account manager.
- Testimonials: Users generally praise OneMoneyWay for its exceptional customer service and quick response times. One positive comment from Axel states, "OMW really deserve 5 stars. Immediate reaction and support throughout the process." However, a negative comment from Simon highlights some issues, "Verbally promised me that I could freeze the account, I was billed as soon as the account was created. Application was a mess." For more reviews, visit Trustpilot.
10. Soldo
Soldo is a spend management platform designed to simplify and streamline business spending. It offers tools like physical and virtual Mastercards, a management platform, a mobile app for tracking expenses, and integrations with financial systems. Soldo aims to boost business agility, empower employees to spend responsibly, and automate spend administration to free up time for more productive tasks.
- Unique Features: Pre-programmable customizable cards, powerful expense management platform, real-time insights, integrations with accounting software, enterprise-level security, automated spend administration, customizable solutions, customer success stories.
- Pricing:
- Enterprise Plan: Customizable solution for large organizations. Pricing available upon contact.
- Plus Plan: €33 per month excluding VAT, 30-day free trial, includes 3 users, 30 physical or virtual cards, 30 subscription or digital ad cards, 30 temporary virtual cards, 30 outbound bank transfers per month, and 3 wallets.
- Standard Plan: €21 per month excluding VAT, 30-day free trial, includes 3 users, 20 physical or virtual cards, 20 subscription or digital ad cards, 20 temporary virtual cards, and 20 outbound bank transfers per month.
- Additional Costs: Physical cards: €5 issuance fee per card, virtual cards: €1 issuance fee per card, temporary virtual cards: €0.50 issuance fee per card, additional users: €7 per Standard user per month or €11 per Plus user per month, outbound bank transfers: €0.75 per transaction, 1% FX fee, 1% ATM fee with a minimum of €2.
- Testimonials: Users generally appreciate Soldo for its helpful customer service and efficient spend management. One positive comment from Gina Ansell states, "The most important thing for me is that if I am unsure of anything or having a senior moment the online advisors are always so helpful and explain things in a clear and easy to understand way." However, a negative comment from Alexander Nosic highlights issues, "Our account was frozen and closed without any reasons. I believe Soldo has certain problems with the UK regulator right now." For more reviews, visit Trustpilot.
Which one should you go with?
In conclusion, while each of these platforms offers unique features and benefits tailored to different business needs, OneSafe stands out for its seamless integration of fiat and cryptocurrency transactions, exceptional customer support, and comprehensive account services. Whether you're a small business owner, freelancer, or a large enterprise, OneSafe provides a versatile and secure solution for managing your finances. Although any of these alternatives could be a good fit depending on your specific requirements, we recommend OneSafe if you're looking for a reliable and innovative financial technology partner. Explore your options and choose the one that best suits your business needs.
