Looking for a business bank in California? In this guide we compare Relay, an online banking platform, and California Bank & Trust, a traditional bank.
In this article:
What is Relay?
At Relay, we offer an online business banking and financial management platform aimed at helping small businesses effectively manage their cash flow without any hidden fees.
With Relay, you can:
Organize income, expenses, and reserves using up to 20 checking accounts, including two savings accounts offering up to 1-3% APY.
Issue up to 50 virtual or physical Visa® debit cards.
Facilitate ACH transfers and wires.
Deposit and withdraw cash conveniently using Allpoint ATMs across the U.S.
Collect payments from platforms like Stripe, Square, Shopify, and more.
Automate the transfer of cash between accounts by setting up auto-transfer rules.
Delegate role-based banking access to financial advisors and team members for added security.
Receive personalized customer support from our team through both email and phone.
Every Relay account is fully FDIC insured through Thread Bank, and they come with coverage under the Visa® Zero Liability Protection Policy for added peace of mind.
What is California Bank & Trust?
California Bank and Trust (CB&T) is a banking institution that has been operational for nearly 70 years. It is a full-service bank that offers both personal and commercial banking, as well as wealth management services. CB&T is headquartered in San Diego, California, and has more than 80 branches located throughout the state. It operates as a division of Zions Bancorporation, a N.A. Member FDIC bank holding company. As an FDIC-insured bank, the bank offers the same security as the larger traditional banks.
The establishment of California Bank & Trust occurred in October 1998, resulting from the merger of Sumitomo Bank of California, Grossmont Bank, and First Pacific National Bank, all acquired by Zions Bancorporation. The bank expanded with the acquisition of Regency Bank in 1999 and Eldorado Bancshares in 2001. In 2009, CB&T acquired Alliance Bank and Vineyard Bank when these institutions were closed by the Federal Deposit Insurance Corporation (FDIC). CB&T operates through a network of more than 80 branches, managed from four administrative offices in Irvine, Los Angeles, Oakland, and San Diego.
Relay vs. California Bank & Trust comparison chart
Feature | California Bank & Trust | Relay |
Ideal fit for | Small and mid-sized businesses | Small businesses with 2 to 100 employees |
Entity types that can apply | All types of businesses | Sole proprietorships, partnerships, LLCs, S corporations, C corporations |
Sign up online | ❌ | ✅ (In less than 10 minutes) |
Free checking accounts | ❌ (Fees waived for maintaining minimum deposit) | ✅ (20 individual checking accounts) |
No monthly account fees | ❌ ($15+) | ✅ |
No minimum balance requirements | ❌ ($1,000+) | ✅ |
No overdraft fees | ❌ ($36.00) | ✅ |
Free ACH payments | 🟡 Limited transactions | ✅ |
Free check deposits and incoming payments | ❌ ($10 for check fees) | ✅ |
Mobile check deposits | ✅ | ✅ |
No fees on deposits | 🟡 Limited transactions | ✅ |
Currency exchange for international wires | 🟡Fees may apply | ✅ |
Domestic wires | 🟡 Fees may apply | ✅ ($5, Free with Relay Pro) |
International wires | 🟡Fees may apply | ✅ ($10, Free with Relay Pro) |
Same-day ACH | ✅ | ✅ (Relay Pro) |
Savings accounts | ✅ | ✅ (Automated savings, 1% to 3% APY) |
Debit cards | ✅ | ✅ (Up to 50) |
Business credit cards | ✅ | ⛔️ |
Percentage-based auto-transfer rules | ⛔️ | ✅ |
All-in-one accounts payable automation | ✅ | ✅ (Relay Pro) |
Collaboration permissions | ⛔️ | ✅ (7 unique user permission levels) |
QuickBooks Online integration | ⛔️ | ✅ |
Xero integration | ⛔️ | ✅ |
Gusto integration | ⛔️ | ✅ |
FDIC insured | ✅ | ✅ |
Bank from | In-person, web, iOs, or Android | Web, iOS, or Android |
Online Reviews and Rating | 3.0 Stars (Yelp) | 4.6 Stars (Source: Trustpilot) |
More banking features from California Bank & Trust
💰 Certificates of Deposit: Ensure the safety of your business funds with FDIC-insured Certificates of Deposit (CDs) offering a guaranteed interest rate for the full term, and receive your initial investment plus accrued interest upon CD redemption.
📱 Online and Mobile Banking: Access a comprehensive range of banking services, including account management, bill payments, and fund transfers, all from the convenience of an online platform or mobile app without the need for a branch visit.
💼 Business Loans: Explore various personal and business loan options, such as term loans for long-term financing, mortgage loans for real estate investments, and revolving lines of credit to manage cash flow and working capital.
🌐 Online Wire Transfers: Efficiently and swiftly transfer funds, including domestic wire transfers, through a user-friendly online banking platform, enabling you to manage financial transactions seamlessly.
💳 Bill Pay: Simplify your bill payments with just a few clicks, saving you time and hassle. Bill Pay is included at no cost with all CB&T personal deposit accounts, making it quick and easy to manage your expenses.
💸 Zelle: Send and receive money with Zelle®. Skip the ATM trips and conveniently transfer funds to friends and family from the app, receiving money within minutes.
💼 Digital Investing: Explore online investing with our Guided Wealth Portfolios, which require a low starting minimum of just $5,000 and offer low-cost exchange-traded funds (ETFs) while providing access to a Wealth Advisor for personalized guidance.
🔗 Direct Connect: Simplify financial management with Direct Connect for Quicken®. Download your California Bank & Trust transaction activity directly into Quicken® for easy fund transfers, bill payments, and comprehensive account tracking and reporting, including accounts from other institutions.
📄 eDocuments: Embrace a paperless approach with eDocuments. Receive email notifications when eStatements, eNotices, or eTax Documents are posted to your Digital Banking (Online and Mobile Banking) account, streamlining your document management.
More banking platform features from Relay
At Relay, we are steadfast in our belief in the digital future of banking. Our core mission revolves around providing online business banking solutions that streamline your financial operations. Here are some standout features that differentiate us:
📊 Transaction Insights: Relay offers an extensive overview of your cash flow, providing comprehensive vendor details, payment specifics, and customer data. This simplifies the process of comprehending 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, minimizing foreign exchange costs.
📜 Safety Protocols: While Relay operates as a technology platform and not 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. Furthermore, 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, deviating 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 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, particularly 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. California Bank & Trust: Which is best for your business?
In the ever-evolving world of business banking, both Relay and California Bank & Trust offer distinct advantages tailored to different business needs. Relay, with its digital-first approach, caters to the modern entrepreneur seeking seamless online integrations, fee-free services, and agile financial management. On the other hand, California Bank & Trust, with its deep-rooted history and expansive branch network, provides a blend of traditional banking reliability combined with some modern amenities.
For businesses that thrive in the digital realm and prioritize quick, efficient online transactions, Relay might be the preferred choice. However, for those who value the stability of a longstanding institution and the personal touch of in-branch services, California Bank & Trust stands as a formidable option.
Ultimately, the decision rests on understanding your business's unique requirements and growth trajectory. Both institutions offer robust services, but the best fit will seamlessly align with your business's operational needs and future aspirations.
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 still need help choosing a bank, try reading some of our other comparisons against Bank of America, Wells Fargo, or Chase.
