Review Time
My experience was excellent.
The process was smooth, the team was helpful and attentive, and everything met my expectations. I truly appreciate the professionalism and positive atmosphere.
I am still waiting for my funds, and the situation is still unresolved.
After RelayFi publicly replied saying they tried to contact me, I want to clarify that this is not accurate. I have repeatedly contacted their support team by email, multiple times, and I am not receiving any response.
My account still appears suspended, I cannot download my account statements, and I have never received any formal communication regarding the closure of my account or the status of my remaining balance. Months have now passed since I was told my funds would be released, yet nothing has happened.
To summarize the current situation:
* My emails continue to go unanswered
* My account appears suspended
* I cannot access or download my statements
* No official closure notice has been provided
* My remaining balance has still not been returned
This level of silence and lack of transparency from a financial institution is extremely concerning. I am simply requesting access to my documents, clear communication, and the return of my funds.
If anyone from RelayFi is reading this: I have already contacted you multiple times using the email linked to my account. Please respond and resolve this matter as soon as possible.
Instant rejection for many non-citizens trying to open a business account. They don’t accept SSNs or US ID numbers for non-citizen owners. After sending all scans and photos, you get an instant rejection letter saying your business doesn’t fit their criteria. These racists just have a list of bad citizenships on their website
This has got to be the worse “bank” - after several years of banking with them amd even referring them to our investors, relay closed several of my accounts without notice or any request for documentation or explanation. I contacted their customer service over the phone and via email and chat and they lied repeatedly about the status of my accounts. They are holding several thousands and I was told I would receive a closing check within 45 days, it’s been a year!! My business is real estate so nothing shady just rent payments and day to day operational purchases. No wires or single large transactions over $5k. The worse part, we had opened and account, got an email saying the account was approved. I deposited $2000 as opening deposit, they closed the account without explanation and told it would take 45 days before I can get my money back. Nightmare!!
I've been using the service for 3 months and appreciate the option to create subaccounts for my property management business. However, I encountered an issue this month while trying to pay property taxes through their bill pay service, as it only allows payments to physical addresses and not PO boxes. This is problematic since all the tax assessors and credit card companies I deal with require payments to PO boxes. This limitation makes it challenging for me to conduct business effectively using their bill pay system.
I opened my account about a week ago and initially everything seemed fine; I had a few wires go in without issues. However, shortly after setting up, I was informed that all accounts would be closed. I had been a customer for nearly two years and had already set up a new account elsewhere. This morning, I had a revenue payment deposited and started processing payroll without any problems. But then I noticed some timing issues with payments and decided it was time to explore other options. Just as I was doing that, I received the closure notification. Then came the real trouble! My new account was suddenly frozen along with all associated cards, totaling $6,700, with no prior warning or communication! I called twice, and the only response I received was to just wait—no timeline or updates were provided. My documentation is all current, yet there has been zero communication from the support team. I have made nearly a million dollars in deposits previously without such issues. Regrettably, I feel that the suggestion to switch accounts was a mistake. My operating capital is now stuck with no clear path to resolution! I never expected to open a bank account only to have my funds frozen without notice.
I am currently waiting for my funds, and this issue remains unresolved. For weeks, the company has completely ceased responding to my emails. My account on their platform appears to be suspended, preventing me from downloading my account statements. This is a serious matter, as statements are essential banking documents that clients should always have access to. I have not received any formal communication regarding the closure of my account or any official notice explaining the situation. Despite this, I am still waiting for the check with the remaining balance of my account. I was explicitly informed by the company's staff that my funds would be released by the end of November. Now, months later, I have received nothing and no explanation. At this point: - Emails remain unanswered - My account appears suspended - Statements are not downloadable - No official closure notice has been provided - The remaining balance has not been returned If anyone from the company is reading this: the email associated with my review account is the same email linked to my account. You know exactly who I am and which account this refers to. It is unacceptable for a financial institution to act this way. I am simply requesting transparency, access to my documents, and the return of my funds.
Shortly after getting approved for their banking services, my account and cards were frozen. Transfers from PayPal are immediately refunded to the sender, making it impossible to access my funds. I reached out to their support team for help regarding this issue but have yet to receive a response. I cannot understand why this happens, but I would advise against trusting this company for online banking.
⚠️ Caution to Business Owners: My Experience Has Been a Nightmare I’m sharing this to prevent other business owners from facing the same issues I am. The service froze my business account without explanation and has been withholding my funds for weeks.
My operations, payroll, and vendor payments have all been impacted. I submitted every document they requested — including verification from the issuing bank. Yet, they keep delaying responses, asking for irrelevant documents, and ignoring my follow-ups. To make matters worse: They charged me for my upgraded plan even while my account was frozen. They blocked my transfer to my own savings account. They have not responded to several of my emails. This situation has severely harmed my business reputation and operations. There has been nothing transparent or professional about this experience.
If you’re a business owner considering this service, think carefully because once issues arise, you are left to fend for yourself. I am still waiting for them to resolve this and release my funds.
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Relay is an online banking platform that puts business owners in complete control of their cash flow. By helping them clearly understand what they're earning, spending, and saving, Relay empowers entrepreneurs to make smarter decisions about their business and reach peak profitability.
Disclaimer: Relay is a financial technology company, not a bank. Banking services are provided by Thread Bank; Member FDIC.See more
