Relay vs. MidFirst Bank: Which bank is better for Arizona business banking?

By Haley Davidson

Founder & Content Strategist, Gaia Content

Are you a small business owner looking for a business bank in Arizona? Here, we’ll compare Relay to MidFirst Bank. Relay is an online banking platform while MidFirst Bank is a traditional bank with several Arizona locations. 🏦

Like other traditional banks, MidFirst Bank offers both in-person and online services. Modern platforms like Relay provide a comprehensive digital banking experience for businesses. Let’s explore what each institution provides to businesses.

In this article:

What is Relay? 

Relay offers modern online banking and money management tools that help small businesses oversee their business’s cash flow. 💚 Users can create up to 20 free checking accounts and handle multiple payments from one centralized place with Relay.

This digital-first approach creates a seamless banking experience while also avoiding the most common barriers 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 MidFirst Bank?

MidFirst Bank is a traditional bank with several Arizona locations. This bank has several business checking options that range in services offered. It also offers several savings account types and lending options. 💰

MidFirst Bank has online and mobile access in addition to its other services. There are also specialty banking solutions for specific industries.

Relay vs. MidFirst Bank Comparison Chart


MidFirst Bank


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

Insert here


Minimum Balance Requirement



Overdraft Fees



Money Movement

Wire Transfer: Varies by account

ACH Payments: Varies by account 

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

ACH Payments: Free 

ATM Access



Branch Locations

10 Arizona locations


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 can access Relay through the mobile app or web-based option. Both of these platforms are easily navigable for efficient and organized work. Managing money with Relay also gives rise to additional features such as receipt capture via mobile camera and virtual debit cards. 💳

MidFirst Bank and Online Banking

MidFirst Bank’s online banking solutions are available at any time. With these services, account owners can check account balances, make transfers, and access Bill-Pay and eStatements. You can also utilize card management for additional security.

Monthly Fees and Other Charges

Relay Fees

Relay has an affordable and transparent pricing structure for its services. You won’t encounter monthly fees or overdraft fees as a Relay account owner. You also won’t have minimum account balances, freeing up funds to make your business grow. 💸

MidFirst Bank Fees

The fees for a MidFirst business checking account vary by account type. The Free Business Checking account type carries no fees or minimum balances. However, it has a transaction limit of 150 transactions per month. Higher-level accounts have higher associated fees but higher transaction limits. There are $35 overdraft fees for any overdrafts associated with your account.

Accounts Payable

Relay Accounts Payable

Every business owner understands how important it is to pay bills precisely and on time. Relay’s account payable features make this process easier and faster. Relay has an all-inclusive dashboard for managing bill payments. It also offers vendor contract savings for future payments. You can also integrate your account with Quickbooks Online and/or Xero. 💻

Relay’s paid tier is called Relay Pro and it offers additional features. These include same-day ACH and free outgoing wires. You can also set up multi-step approval rules for easier processing for people on your team.

MidFirst Bank Accounts Payable

MidFirst Bank offers 10 free Bill-Pay transactions for each of its accounts, with additional charges for additional bills. There are also same-day ACH payments available, with costs depending on account type. MidFirst also offers Business Online Payroll solutions. 📲

Verdict: Which banking partner is right for your business?

Choosing the right business banking partner is crucial for the success and growth of your small business. Both Relay and MidFirst Bank have unique features that support your business’s needs. 💵

Relay provides a digital-first approach with seamless integrations and no monthly fees. MidFirst Bank offers several business checking and savings account options.

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