Relay vs. BOK Financial: Which bank is better for Arizona businesses?

By Haley Davidson

Founder & Content Strategist, Gaia Content

Are you looking for a business bank in Arizona? In this article, we’ve compared Relay to BOK Financial. Relay is an online banking platform, while BOK Financial is a traditional bank. 🏦

Traditional banks like BOK Financial have a blend of in-person and online services. Modern platforms like Relay provide a fully digital banking experience tailored to your business. It’s time to delve deeper into what each institution brings to the table.

In this article:

What is Relay? 

Relay is a digital platform that offers modern online banking and money management solutions. 💚 It helps small business owners better oversee their cash flow. Users of Relay can create up to 20 free checking accounts and handle multiple payments from one centralized place.

The digital-first approach that Relay uses creates a seamless banking experience. It also avoids the most common obstacles of traditional banking. With Relay, small businesses also have the option to grow their money through savings accounts that earn between 1-3% APY1

What is BOK Financial? 

BOK Financial is a traditional bank with locations across 8 states, including 4 branch locations in Arizona. BOK Financial offers two types of business checking accounts in addition to savings accounts and lending services. 💰

The traditional bank also offers a mobile app for iOS and Android that allows users to keep track of their money. Aside from banking services, BOK Financial publishes helpful articles about finances and offers excellent customer service.

Relay vs. BOK Financial Comparison Chart


BOK Financial


Open Account Online

Online Banking

✅ Web, Apple iOS and Android Mobile Apps

✅Web, Apple iOS and Android Mobile Apps 

Monthly Account Fees



Minimum Opening Deposit



Minimum Balance Requirement



Overdraft Fees



Money Movement

Insert fees here

Wire Transfer: $0 with Business Advantage 

ACH Payments: 

Wire Transfer: $5 domestic, $10 international (Free with Relay Pro)

ACH Payments: Free 

ATM Access



Branch Locations

4 branch locations in Arizona


Interest-bearing accounts

✅Varies by account

✅1-3% APY on savings depending on the balance

Business Credit Cards


Online Reviews

2.9 Star Rating on Trustpilot

4.6 Star Rating on Trustpilot

Online and Mobile Banking

Relay Mobile and Online Banking

Users access Relay through either the mobile app or a web-based option. Both of these digital platforms are easy to navigate. When you manage money with Relay, you unlock additional features. These features include receipt capture via mobile camera and virtual debit cards. 💳

BOK Financial and Online Banking

BOK Financial offers two options for online banking. The first option is Exchange, which includes a variety of cash management services. These services include direct payroll deposit and fraud protection services.

The second option at BOK Financial is Business Online Access, which is a simplified version of Exchange. It slims down the Exchange package to offer you a view of your money at all times.

Monthly Fees and Other Charges

Relay Fees

Relay has an affordable and transparent pricing system for its services. As a business account owner, you won’t encounter monthly fees. Overdraft fees or minimum balances don’t exist with Relay, freeing up your business’s funds. 💸

BOK Financial Fees

The monthly fees for BOK Financial depend on the checking account you open. There are no fees for the Business Access account. Fees for the Business Advantage account are $30 per month, waived with a minimum balance of $15,000. 

Accounts Payable

Relay Accounts Payable

Paying bills on time is an important part of business that every business owner understands. Relay’s accounts payable features make this process easier and faster. The all-inclusive Relay dashboard allows account owners to manage bill payments. Relay also offers vendor contract savings and integrations with Quickbooks Online and Xero. 💻

Relay Pro, Relay’s paid tier, offers additional features including same-day ACH and free outgoing wires. You can also set up multi-step approval rules for people on your team.

BOK Financial Accounts Payable

BOK Financial has wire transfer availability and ACH services. They also offer bill payment services with their online feature. You’ll also be able to receive online payments via a branded payment page if you choose to. 📲

Verdict: Which banking partner is right for your business?

Choosing the right business banking partner is crucial for the success and growth of your business. Relay and BOK Financial both offer novel features tailored to support your business’s needs. 💵

Relay is a digital-first banking option with seamless integrations and no monthly fees. BOK Financial offers two business checking account options and local community support.

Consider your goals and the type of support you need to find the right fit for your business. Choose the banking platform that best aligns with your business plan. Ready to sign up for Relay? You can do so entirely online here! 🔗