Roughly 10 minutes. That’s how long most small business owners spend filling out the Relay application. Approval typically follows within 1 business day, and funding settles in 1–5 business days depending on how you transfer.
This guide walks through the application step by step, and lists exactly what to have ready before you start.
What you’ll need before you start
Make sure to have these items ready before you begin, because stopping midway to find a document is never fun:
1. Your EIN (Employer Identification Number)—the 9-digit federal tax ID issued by the IRS. If you’re a sole proprietor without employees, you can use your Social Security Number instead.
2. Business formation documents—Articles of Incorporation (corporation), LLC Operating Agreement, or Sole Proprietorship/DBA filing. Most state secretary-of-state offices issue these as PDFs you can re-download if you’ve misplaced them.
3. Government-issued ID for every owner with 25% or more ownership. Identifying any owner with 25% or more of the business is a standard requirement under FinCEN’s Customer Due Diligence (CDD) Rule. You’ll see this at any US business banking platform during account opening.
4. Physical U.S. home address, date of birth, and Social Security Number for every named owner.
5. A valid U.S. mobile phone number
For sole proprietors without a formal entity, you’ll use your SSN in place of an EIN. For single-member LLCs, have both your EIN and Operating Agreement ready. For multi-owner LLCs and corporations, every owner with 25%+ stake needs to be added.
Step 1: Start the application
Go to relayfi.com and click Get started. Enter your business email address. Relay sends a verification link; click it to open the application.
Time: about 30 seconds.
Step 2: Tell us about your business
You’ll enter:
Legal business name (exactly as it appears on your formation documents)
DBA (Doing Business As) name, if different from legal name
Business address
Note: if your legal address is a registered agent address, you’ll be asked to provide a second operational address
EIN (or SSN if sole proprietor)
Business structure (LLC, Sole Proprietorship, Corporation, Partnership, etc.)
Industry / what your business does
Estimated monthly transaction volume
The “what your business does” field is a short text box. One or two sentences is enough, and the more specific you are the better. For example, “Marketing strategy consulting for SaaS companies” is better than “consulting.” Specific descriptions help the underwriting team approve you faster.
Time: about 2 minutes.
Step 3: Add ownership information
For every individual who owns 25% or more of the business, you’ll add:
Full legal name
Date of birth
Home address
Social Security Number (US owners) or passport/ITIN (non-US citizens)
Ownership percentage
If you’re the sole owner, this step is fast. For partnerships and multi-owner LLCs, be sure to input each owner’s information.
For non-US citizens: the business itself must be US-registered (with an EIN). You as an owner can be a non-US citizen with a US address and a Tax ID Number (ITIN) or SSN.
Time: 2–3 minutes for solo owners; 5–10 minutes for multi-owner businesses with collected information.
Step 4: Upload documents
You’ll upload:
Business formation documents (Articles of Incorporation, LLC Operating Agreement, or DBA filing)
Government-issued ID for each named owner (driver’s license or passport)
Acceptable file types: PDF, JPG, PNG. Most owners take photos with their phone and upload from there.
A few specifics that prevent re-uploads:
Make sure the document is in focus and well-lit
All four corners visible
No glare on the laminated portion of the ID
For formation documents, all pages, not just the first page
Time: about 2 minutes if documents are ready.
Step 5: Verify your identity
Relay verifies your identity as part of the account opening process. You’ll take a photo of yourself, provide a photo of an unexpired government-issued ID (a U.S. driver’s license or, if you are a non-U.S. citizen, a passport), and complete a short liveness check directly within the registration flow. To ensure a smooth experience, make sure the name on your ID matches the name on your application and that all photos are clear and well-lit.
Time: about 2 minutes
Step 6: Getting Approved
Once your application is submitted, you’ll receive a confirmation email. Relay begins reviewing your submitted business and personal details, with most applications taking 1–2 business days to review. If additional information or documentation is needed, you’ll receive an email prompting you to log in and take action.
Time: 1-2 business days
Step 7: Set up your first checking accounts (optional)
Once your application is approved, you can immediately create up to 20 checking accounts1 under the Starter plan. Most owners organize their core operating accounts during the first session:
Operating
Tax savings
Owner’s pay
Profit (if running Profit First)
Payroll (if you have employees)
For contractors and trade businesses, consider adding:
Materials & Subcontractors
Sales tax holding
Equipment reserve
This step is optional during signup—you can come back and set up your checking accounts anytime.
Time: about 2 minutes.
1Relay is a financial technology company and is not an FDIC-insured bank. Banking services provided by Thread Bank, Member FDIC.
Step 8: Fund your account
You can fund your new Relay account three ways:
Direct deposit from another bank (1–3 business days for first transfer)
ACH transfer initiated from Relay (3–5 business days for first transfer; faster on subsequent transfers)
Wire transfer from another bank (same day if sent before 5:40pm EST)
Since there’s no minimum opening deposit, some owners fund with $1 just to activate the account; others move their full operating balance immediately.
Time: 0–5 minutes to initiate; settlement takes 1–5 business days depending on method.
Total time
Most small business owners complete steps 1 to 6 in under 10 minutes when they have documents ready. Step 7 (funding) takes a few extra minutes to initiate, but settles in the background.
What happens after you apply
If you’re approved within 1 business day (like most applications): your account is active immediately. You can log in, create checking accounts1, generate a virtual debit card2, and start receiving deposits within minutes.
If a follow-up is needed: Relay’s team reaches out by email within one business day with a specific request (typically a clearer photo of an ID, a recent utility bill confirming address, or additional ownership documentation). Most follow-ups resolve within 1-2 business days.
Physical debit card: ships free via standard mail within 7–10 business days. Virtual cards are available immediately for online use.
2The Relay Visa® Debit Card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa debit cards are accepted.
Ready to open your account?
If your documents are ready, so are you. The process above is the actual process—no branch visit at the end, no callback, nothing to fax. Most owners close out the application before their second meeting of the day. Start your Relay application today.
1Relay is a financial technology company and is not an FDIC-insured bank. Banking services provided by Thread Bank, Member FDIC. 2The Relay Visa® Debit Card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa debit cards are accepted.
Frequently asked questions
Do I need to visit a branch?
No. The entire application is online. Relay does not have physical branches.
How long does approval take?
Most applications are approved within 1 business day. If a follow-up document is needed, approval typically completes within 1–2 business days.
What if my business is brand new and I just got my EIN?
That’s fine. Relay accepts new entities. Have your formation documents and EIN confirmation letter (IRS Form CP 575) ready to upload. Expect that businesses with EINs less than 90 days old sometimes get extra verification questions—this is normal across the industry.
What if I’m not a US citizen?
Relay serves US-registered business entities. The business itself must be registered in the US with an EIN. Owners can be non-US citizens as long as they have a US address and a Tax ID Number (ITIN or SSN). Relay doesn’t currently serve businesses incorporated outside the US.
Is there a fee to open the account?
No. Opening and maintaining the Relay Starter plan is $0. There’s no monthly maintenance fee, no minimum balance, and no opening deposit requirement.
Can I add additional owners or team members later?
Yes. You can add team members with custom permission levels (view-only, payment approval, full access) from inside the dashboard after the account is open. If ownership changes (e.g., you bring on a new co-owner who reaches 25%+ ownership), you’ll need to update the Beneficial Ownership Information accordingly.
