Relay vs. Bank of Stockton: What’s the Best Choice for Your Business?

Need help choosing a business bank in California? We’ve compared Relay and Bank of Stockton in this guide so you can make an informed decision.

In this article:

• What is Relay?

• What is Bank of Stockton?

• Relay vs. Bank of Stockton comparison chart

• Additional financial services from Bank of Stockton

• Additional banking features from Relay

• Relay vs. Bank of Stockton: What’s best for your business?

What is Relay?

Relay is online platform for business banking and financial management, committed to assisting small businesses in effectively managing their cash flow while maintaining complete transparency and eliminating hidden fees.

Among its offerings are several valuable features:

• The ability to organize income, expenses, and reserves using up to 20 checking accounts, including two savings accounts with competitive APY rates ranging from 1-3%.

• The flexibility to issue up to 50 virtual or physical Visa® debit cards.

• Seamless handling of ACH transfers and wire transfers.

• Convenient access to cash deposits and withdrawals through Allpoint ATMs across the United States.

• Streamlined payment collection from various platforms such as Stripe, Square, Shopify, and others.

• Automated cash transfers between accounts through the setup of auto-transfer rules.

• Enhanced security through role-based banking access for financial advisors and team members.

• Access to personalized customer support via both email and phone.

It's important to note that each Relay account is fully FDIC insured through Thread Bank, with the added layer of protection under the Visa® Zero Liability Protection Policy.

What is Bank of Stockton?

Bank of Stockton (BOS), established in 1867, is a community bank based in Stockton, California. It has successfully navigated through numerous economic challenges, including the COVID-19 pandemic, upholding its commitment to depositor safety. As it enters its 156th year, the bank continues to offer consistent and reliable banking services to both its individual and commercial customers.

Bank of Stockton’s main offerings include savings and checking accounts, CDs, and mortgage products. It operates as a traditional brick-and-mortar commercial bank and also offers online and mobile banking services.

Where is Bank of Stockton located?

Aside from Stockton, the bank has branch locations in communities including Modesto, Manteca, Lodi, Brentwood, Fairfield, Napa, Angels Camp, Pine Grove, Tracy, Turlock, Ripon, Sonora, Oakdale and San Joaquin County.

Relay vs. Bank of Stockton comparison

More banking features from Bank of Stockton

📱 Online and Mobile Banking: Access the bank’s online platform or the Bank of Stockton mobile app for convenient banking without having to visit a branch for most services.

💼 Lending Services: The bank is a provider for personal and business loans including term loans, real estate loans, and revolving lines of credit.

✅ Tax Payment: Enjoy our free Tax Payment service offering two convenient payment methods for your company. It saves time and costs associated with tax payments while ensuring confidentiality and accuracy.

💼 ACH Services for Businesses: These services offer time-saving and cost-reducing benefits for your business. You can improve cash flow and gain control over disbursements and payment collections with features like Direct Deposit and Tax Payments.

💰 Positive Pay Service: Protect your business from check fraud and errors. This service reduces losses by identifying fraudulent checks, detects inaccuracies between issued and presented items, and provides daily exception items for your approval.

🔄 Direct Debit: Streamline accounts receivables by automating routine payments. Your customers pre-authorize payments, reducing check-handling and bill-preparation costs, while dramatically cutting delinquency problems and charge-offs. It also improves cash flow projections and can be introduced as a convenience to your customers.

🏦 Retail Investment and Insurance Services: Dedicated, licensed professionals offer personalized strategies for investment and financial planning, specializing in income enhancement, tax reduction, and net worth growth.

🏛️ Wealth Management: Bank of Stockton's Wealth Management Group provides Wealth Management and Fiduciary Trust Services, focusing on asset management, diversification, cost efficiency, and tax considerations to secure your financial future. Services include Investment Management, Estate Planning, Retirement Plans, and more.

🤝 Personalized Customer Service: Access personalized customer service in person, by email, or through the phone number on the bank’s website.

More banking platform features from Relay

At Relay, our commitment revolves around the digital future of banking. Our primary mission is to provide online business banking accounts that simplify your financial operations. Here are some standout features that set us apart:

📊 Transaction Insights: Relay delivers an extensive overview of your cash flow, offering detailed vendor information, payment specifics, and customer data. This streamlines the process of understanding purchases and reconciling accounts.

🌎 Diverse Payment Methods: With Relay Pro, you gain access to same-day ACH payments and unlimited wire transfers, both domestically and internationally, with transparent fee structures. Relay even facilitates wire transfers in your recipient's local currency, reducing foreign exchange costs.

📜 Safety Protocols: While Relay operates as a technology platform, not an FDIC-insured bank, we prioritize the security of your funds. Every business account enjoys FDIC insurance through our partner banks like Thread Bank. Additionally, Visa's Zero Liability Protection adds an extra layer of security against card theft.

👨‍💻 Digital Onboarding: Our modern online banking platform simplifies the account setup process, departing from the traditional brick-and-mortar banking experience.

🧾 Seamless Software Integration: Relay seamlessly integrates with platforms like QuickBooks Online, Gusto, and Xero, ensuring efficient and precise account management for your accounting team.

✅ Unified Account Access: Relay simplifies the management of multiple business accounts under a single login, making transitions between accounts effortless.

💷 Profit-First Banking: At Relay, we've made implementing Profit First accounting straightforward, especially the zero-balance approach. We understand that many business owners rely on spreadsheets, mental calculations, and guesswork for their daily financial management. With Relay, you can gain insights into your business's finances in seconds instead of hours.

🖥️ Automated Transfer Mechanisms: Our auto-transfer rules automatically move funds between your different accounts based on the rules you set.

🔒 Advanced Security Options: Relay offers role-based permissions, enabling you to determine team member access levels, set spending limits, and remotely manage account activities.

Relay vs. Bank of Stockton: Which better suits your business?

Selecting the right banking partner is crucial, as it can significantly influence your business operations and growth potential. In today's digital era, many businesses gravitate towards platforms like Relay that offer flexibility, transparency, and seamless integration with other tools. Relay's digital-first approach provides a suite of features tailored for contemporary businesses, streamlining financial management.

Conversely, Bank of Stockton, steeped in history and community commitment, combines traditional banking services with over a century's worth of trust and reliability. Their comprehensive offerings, from lending to wealth management, cater to a wide range of business needs.

Your choice between Relay and Bank of Stockton should reflect your business's unique requirements and values. Whether you prioritize Relay's innovative digital solutions or Bank of Stockton's community-centric approach, ensure your decision aligns with your business objectives.

Banking Built for Business Owners

No account fees or minimums; 20 checking accounts; 2 savings accounts with 1.00%-3.00% APY; 50 virtual + physical debit cards. Open account 100% online.

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If you're still considering your options, see how Relay compares to other major banks like Bank of America and Chase.