In this article, we will explore various alternatives to RelayFi, an online business banking platform known for its comprehensive control over finances, no account fees, and seamless integration with accounting software. We'll delve into what RelayFi offers and then present other options that might suit your business needs.
Reviews
Users have shared a mix of positive and negative feedback about RelayFi. Many appreciate its ease of use, the ability to separate funds into different accounts, and the seamless integration with accounting software. Customers have found the platform helpful for managing business finances, citing excellent customer service and the convenience of virtual cards. However, some users have expressed frustration with occasional technical glitches and delays in customer support response times. Overall, while the platform is praised for its features and user-friendly interface, there are areas where improvements could be made.
- "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. It provides comprehensive account services tailored for companies that operate both in fiat and cryptocurrencies. The platform supports seamless integration of fiat and cryptocurrency transactions, making it ideal for modern financial operations.
- Features: Simple onboarding, global payments, corporate cards, customizable controls, 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 for international wires, $20 for Fedwire, 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 financial operations. Many highlight its efficiency in managing payroll and expenses, making it an essential tool for businesses. For more details, visit the OneSafe website.
2. Kontist
Kontist offers a business banking solution designed for self-employed individuals in Germany. It combines a business bank account with automated bookkeeping and business tax returns, all managed through a single app. The service aims to simplify financial management, allowing users to focus on their business.
- Unique Features: Integrated banking and bookkeeping, automatic tax calculation, AI-supported bookkeeping, comprehensive tax return services, real-time financial insights, mobile & web banking app, invoicing tool.
- Pricing:
- Free Plan: €0 per month plus VAT, 10 free transactions per month, €2 fee if monthly transactions are less than €300, €0.15 per additional transaction.
- Premium Plan: €9 per month plus VAT, includes all Free plan features plus a physical Visa Debit card, automatic tax calculations, and unlimited invoices.
- Bookkeeping Plan: €29 per month plus VAT, includes all Premium plan features plus unlimited free transactions, advance VAT return, business evaluation, and AI-supported transaction categorization.
- Testimonials: Users generally appreciate Kontist for its user-friendly app and efficient tax management.
- Positive: "I have been with Kontist for over two years now. It is a very good service, any questions I have regarding taxes they answer quickly and professionally. Thanks to Kontist my annual Tax return is filed with ease and on time. And now that the banking app offers instant transfers I am very happy with the overall package." - Daniel N Jochem
- Negative: "The tax service is extremely overpriced and totally not recommended! I made the mistake of using it for over 1 year as a new business owner and non-German speaker, and their service was minimal. The monthly cost was sky high (around 120-150EUR per month) WITHOUT dedicated service, whilst similar service providers are less than 10EUR a month - like Accountable. Their free bank service serves its purpose. But I won’t make the mistake of paying for anything from them." - Tanya
3. Airwallex
Airwallex is a global payments and financial platform trusted by over 100,000 companies. It offers software and APIs to simplify global payments and financial operations, enabling businesses to 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, APIs for custom financial products.
- Pricing:
- Explore Plan: $0 or $29/month, with conditions for free usage based on deposits and balance.
- Grow Plan: $99/month, includes additional features like international batch transfers and expense management.
- Accelerate Plan: $499/month, offers advanced integrations and dedicated support.
- Custom Plan: Tailored pricing for high-volume businesses with custom API implementations.
- Testimonials: Users generally appreciate Airwallex for its efficiency and cost savings.
- Positive: "Great service from Airwallex! The account manager, Hayley, is super helpful, and the website is so easy to use. Payments go through quickly, and their exchange rates for overseas transactions are excellent. Couldn’t ask for a better experience!" - Calisha Isara
- Negative: "They suddenly started to refuse money transfer for no reason. They won’t tell me why or how to solve the situation. So basically I can’t continue operation with my company, and I’m stuck." - Pierrick C
4. Hype
HYPE Business is an online business account tailored for sole proprietorships and freelancers with a VAT number. It offers a range of features designed to simplify financial management and support business growth.
- Unique Features: Free ordinary and instant transfers, simplified F24 payments, Tax Manager for estimating and setting aside taxes, included micro-insurances, World Elite Mastercard, 7/7 technical support, zero monthly fee offer by meeting a spending threshold, expense management tools like Radar, free global payments and withdrawals, multi-platform access via app or computer.
- Pricing: €2.90 per month, €34.80 annual fee, no activation fee, €2.00 per cash recharge at authorized points, 10 free instant SEPA transfers per month (then €2 each), 1.5% exchange rate surcharge, free card blocking and reissuance in case of theft/loss.
- Testimonials: Users generally appreciate HYPE for its ease of use and range of services.
- Positive: "Easy and intuitive to use, a lot of services available." - Roberto Cardoni
- Negative: "I ve received my 1st transfer to my Hype account and only then found out that my account had been blocked. It is not clear from mobile banking, I did not even receive an email from Hype that my bank account is blocked. Now my money is blocked in my Hype account and I do not know how long I have to wait until it is returned to me. Worst experience." - Paola Maffei
5. Anna Money
ANNA Money offers a business account service in the UK that can be set up in less than 10 minutes. It includes a business debit card, virtual cards, and various tools to manage business finances.
- Unique Features: Quick account setup in as little as 3 minutes with ID, virtual business debit cards available immediately after signup, personal payment webpage for easy online payments, cash deposits at thousands of PayPoints, special offers and promotions from partner companies, integration with Apple Pay and Google Pay, employee expense management with individual debit cards and spending limits, money-saving pots for various business expenses, instant payment notifications, free direct debits and scheduled standing orders, business cashback credit card with up to 40% cashback, flexible small business loans, open banking integration for comprehensive financial management.
- 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 ANNA Money for its efficient service and ease of use.
- Positive: "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." - Usman
- Negative: "Avoid at all costs!!! ANNA have held on to a very large amount of company money for weeks, they are uncontactable or helpful." - anon anon
6. Credem
Credem Banca offers a wide range of banking services including current accounts, cards, loans, mortgages, and investment options. The bank emphasizes customer well-being, sustainability, and innovation. It provides tailored solutions for both individuals and businesses, ensuring financial and life well-being.
- Unique Features: Wellbanking People, Sustainability focus, Innovation in banking solutions, Financial education resources, Extensive customer support, Comprehensive business services.
- Pricing: The pricing details for Credem's products and services are not explicitly listed on the contact page. For specific pricing information, users are encouraged to visit the relevant product pages or contact the bank directly through the provided contact methods.
- Testimonials: Users generally have mixed feelings about Credem.
- Positive: "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. The team have made dealing with a bank that much easier for expats in Italy. Keep it up!" - Steve Smith
- Negative: "I changed to this bank based on the recommendation of a family friend. 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. I highly recommend avoiding using this bank." - Dan Racioppa
7. Currensea
Currensea is a travel debit card that links directly to your existing UK bank account, allowing you to save on foreign exchange fees when spending abroad. It offers real-time notifications, no hidden fees, and various security features.
- Unique Features: Direct link to existing bank account, no hidden fees, real-time notifications, Mastercard purchase protection, 2-factor authentication, environmental contributions.
- 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 (2% over £500/month).
- Premium Plan: £25/year, 0% FX rate on spending abroad, 0.5% FX rate on money transfers, fee-free ATM withdrawals (1% over £500/month).
- Elite Plan: £120/year, 0% FX rate on spending abroad, 0.5% FX rate on money transfers, fee-free ATM withdrawals (1% over £750/month).
- Testimonials: Users generally appreciate Currensea for its ease of use and cost savings.
- Positive: "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. I’m currently in Japan and receiving notifications and emails for each purchase in Yen with its Sterling equivalent. So I know exactly how much I’m spending. It feels safer using this card than my regular bank’s credit card, and I’m saving money too! I can’t see any drawbacks at all. Highly recommended." - IAG
- Negative: "First time user of this type of card so was a bit sceptical of the claims made, but turns out that it does what is says and was excellent. Only one time the system did not work but we had some cash for the small amount of the payment (USD). Definitely recommend Currensea." - Paul
8. Novo
Novo offers an online business checking account with no hidden fees, no minimum balance requirements, and 100% online access. The service is designed to help small businesses manage their finances efficiently and affordably, with features like free ACH transfers, free incoming wires, and free virtual and physical debit cards. Novo also provides tools for invoicing, bookkeeping, and budgeting, along with integrations with other business tools.
- Unique Features: No hidden fees, no minimum balance requirements, 100% online access, free ACH transfers, 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 via Middlesex Federal Savings, F.A.
- Pricing: Novo offers a straightforward pricing model with no monthly fees, no minimum balance requirements, and no hidden charges. Users benefit from free ACH transfers, free incoming wires, and ATM fee reimbursements up to $7 per month.
- Testimonials: Users generally appreciate Novo for its ease of use and small business-friendly features.
- Positive: "Oh, let me tell you about Novo, the small business bank that has become an absolute lifeline for my business! Seriously, it's been a total game-changer. First and foremost, Novo is super easy to use." - Lisa Benson
- Negative: "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." - Clean Sweep
9. OneMoneyWay
OneMoneyWay is a digital platform offering seamless global payments, secure transfers, virtual and physical payment cards, business accounts, card acquiring, and payment terminals. The platform is designed to support SMEs globally, providing services like international transfers, FX services, and various payment methods through regulated partners.
- Unique Features: Fast onboarding, top-grade security, low monthly fee, integrated invoicing module, local IBAN accounts, corporate cards, 24/7 support.
- Pricing:
- Starter Plan: £49/month (billed annually), maximum revenue: 100,000 GBP, 1 Business Account, 1 Physical Mastercard, 1 Virtual Mastercard, exchange between 24+ currencies, Invoice Module, local clearing options, Danish account and REG.NR., Dedicated Account Manager.
- Business Plan: £99/month (billed annually), maximum revenue: 2,000,000 GBP, up to 3 Business Accounts, 2 Physical Mastercards, 3 Virtual Mastercards, exchange between 24+ currencies, Invoice Module, local clearing options, Danish account and REG.NR., Dedicated Account Manager.
- Enterprise Plan: Custom pricing (Contact us), unlimited revenue, unlimited Business Accounts, Physical and Virtual Mastercards, exchange between 24+ currencies, Invoice Module, local clearing options, Danish account and REG.NR., Dedicated Account Manager.
- Testimonials: Users generally appreciate OneMoneyWay for its excellent customer service and support.
- Positive: "OMW really deserve 5 stars. Immediate reaction and support throughout the process. Special mention for DENNI." - Axel
- Negative: "Read the conditions carefully and disregard verbal promises. Verbally promised me that I could freeze the account, I was billed as soon as the account was created." - Simon
10. Soldo
Soldo is a spend management platform that helps businesses streamline and simplify their spending processes. It offers physical and virtual Mastercards, a management platform, a mobile app for tracking expenses, and integrations with various financial systems. Soldo aims to boost business agility and empower employees to spend responsibly while providing finance teams with tools to manage and control spending effectively.
- Unique Features: Pre-programmable customizable cards, powerful expense management platform, real-time insights, automated spend admin, enterprise-level security, integrations with popular accounting software, customizable solutions.
- Pricing:
- Enterprise Plan: Customizable solution for large organizations, contact Soldo for a custom quote.
- Plus Plan: €33 per month (excluding 20% VAT), includes 3 users, 30 physical or virtual Soldo 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 20% VAT), includes 3 users, 20 physical or virtual Soldo cards, 20 subscription or digital ad cards, 20 temporary virtual cards, and 20 outbound bank transfers per month.
- Additional Fees: Physical cards: €5 issuance fee per card, virtual cards: €1 issuance fee per card, temporary virtual cards: €0.50 issuance fee per card, users: €7 per Standard user per month or €11 per Plus user per month, outbound bank transfers: €0.75 per transaction, 1% FX fee and 1% ATM fee with a minimum of €2.
- Testimonials: Users generally appreciate Soldo for its helpful customer service and ease of use.
- Positive: "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. It has always been a pleasure contacting them." - Gina Ansell
- Negative: "Our account was frozen and closed without any reasons. I believe Soldo has certain problems with the UK regulator right now. Please take into account this experience. Unfortunately, we are preparing for court hearing." - Alexander Nosic
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 financial services. Whether you're a freelancer, a small business owner, or managing a larger enterprise, OneSafe provides a robust and versatile solution that can adapt to your evolving financial requirements. If you're exploring alternatives, any of these options could serve you well, but OneSafe is particularly recommended for those seeking a modern, efficient, and secure financial platform.
