Pros
Multiple account creation: Ability to open up to 20 separate checking accounts with distinct account and routing numbers
Extensive debit card issuance: Option to issue up to 50 physical or virtual Visa debit cards with customizable spending limits
High FDIC insurance coverage: Up to $3 million in FDIC insurance protection through a sweep program
Cons
Extended check deposit hold: Deposited checks take six to seven business days to clear
Limited cash deposit options: While fee-free cash deposits are available at AllPoint+ ATMs, they are capped at $1,000 per transaction and $2,000 per day
Lack of interest on checking balances: The basic checking account does not earn interest, requiring businesses to open a separate savings account to benefit from Relay's tiered interest rates