Relay vs. Bank of the Sierra: Which is Best for Your Business?

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

In this article:

• What is Relay?

• What is Bank of the Sierra?

• Relay vs. Bank of the Sierra comparison chart

• Additional financial services from Bank of the Sierra

• Additional banking features from Relay

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

What is Relay?

Relay is a digital business banking and financial management platform, committed to aiding small businesses in efficiently managing their cash flow without any undisclosed fees. As a fee-free platform, Relay is tailored to assist small businesses in navigating their cash flow effectively. 

With Relay, you have the opportunity to:

• Operate up to 20 varied accounts to categorize income, expenses, and reserves, inclusive of two savings accounts boasting a 1-3% APY.

• Allocate up to 50 virtual or physical Visa® debit cards.

• Seamlessly send and receive ACH transfers and wires.

• Easily deposit and withdraw cash utilizing Allpoint ATMs throughout the U.S.

• Accept payments from prominent platforms such as Stripe, Square, Shopify, and more.

• Set up auto-transfer rules to automate the movement of cash between accounts.

• Provide role-based banking access to financial advisors and team members for enhanced security.

• Receive individualized customer support from our team via both email and phone.

Each Relay account is comprehensively FDIC insured through Thread Bank, and includes coverage by the Visa® Zero Liability Protection Policy.

What is Bank of the Sierra?

Founded on September 14, 1977, in Porterville, California, Bank of the Sierra started with a single branch, 11 employees, and $1.5 million in assets, dedicated to fostering the prosperity of its community. Now the largest independent bank in the southern San Joaquin Valley, it has grown to over $3 billion in assets, 500 employees, and 35 branches. Despite its expansion, the bank maintains a traditional model, prioritizing in-person services alongside online and mobile platforms. Headquartered in Porterville, the bank offers a comprehensive range of financial products, including savings and checking accounts, CDs, IRAs, brokerage accounts, mortgages, and credit cards. While providing fee-free checking, its savings rates may be competitive but not the highest compared to other popular banks.

Where is Bank of the Sierra located?

Headquartered at 86 North Main Street Porterville, California, Bank of the Sierra also has branches in communities including Bakersfield, Kern, Tulare, Ventura, and Visalia.

Relay vs. Bank of the Sierra Comparison Chart

More banking features from Bank of the Sierra

📱 Online Banking: Access the bank’s online platform for convenient banking without having to visit a branch for most services.

💳 Business Credit Cards: Choose the credit card for your business needs, whether it's low-rate, cash back, or flexible rewards, and get features like online expense reporting, no employee card fees, mobile payments, and Zero Fraud Liability protection.

💻 Electronic Statements: Receive email notifications on your statement cycle day and easily access and view statements online through Internet Banking, eliminating waiting and paper filing.

💳 Merchant Solutions: Partnered with Heartland®, innovative payment and point-of-sale solutions are offered for a better payment experience.

💰 Business Money Market Accounts: Elevate your savings with higher earning potential while maintaining easy access to funds. Enjoy competitive rates, no monthly service charges with daily balances of $5,000+, free Sierra eStatements, and free online/mobile banking.

🏦 Business Loans: Secure the funds to keep your business running smoothly or pursue growth opportunities with fast and flexible business loan options, including lines of credit and SBA loans.

📜 Certificates of Deposit: Safeguard and grow your business savings with fixed rates, various terms, low minimum balances starting at $1,000, and flexible interest options such as transfers, reinvestments, or payouts.

💼 Business Savings: Easily set aside funds for taxes, unexpected expenses, or long-term growth with competitive rates on daily balances of $1,500+, no service fees with daily balances of $1,500+, free Sierra eStatements, and free online/mobile banking.

💼 Money Manager: Take control of your finances with this platform available in online banking and the mobile app. Create budgets, track bills, view accounts, and set goals for improved financial health.

More banking platform features from Relay

At Relay, we firmly believe in the digital future of banking. Our primary goal is to provide online business banking solutions that simplify your financial processes. Here are some key features that set us apart:

📊 Transaction Insights: Relay offers a comprehensive view of your cash flow, providing detailed vendor information, payment specifics, and customer data. This simplifies 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, all with transparent fee structures. Relay even facilitates wire transfers in your recipient's local currency, minimizing foreign exchange costs.

📜 Safety Protocols: While Relay operates as a technology platform rather than an FDIC-insured bank, we prioritize the security of your funds. Every business account benefits from 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, breaking away from the traditional brick-and-mortar banking experience.

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

✅ Unified Account Access: Relay streamlines 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 define team member access levels, set spending limits, and remotely manage account activities.

Relay vs. Bank of the Sierra: Which is right for your business?

Relay stands out as a digital-first platform tailored for modern small businesses, emphasizing fee-free services and seamless digital integrations. It's ideal for businesses that operate predominantly online and seek agility in their banking experience.

Bank of the Sierra, with its community roots, offers a blend of traditional and contemporary banking. It appeals to businesses that appreciate in-person services and a conventional banking approach, while still enjoying some digital amenities.

Ultimately, the choice between Relay and Bank of the Sierra depends on your business's specific needs and banking preferences. Both offer valuable services, but the best fit will align with your business's operations and vision.

If you’re still on the fence, consider reading some of our other comparisons to see how we stack up against big players like Chase, Wells Fargo, and Bank of America.