Are you looking for a business bank in Georgia? With so many options to choose from, you may wonder where to start.
The first thing you want to do is consider what you need out of a bank. Are you looking for low- or no-fee business checking accounts? Are you looking for a competitive interest rate on a business savings account? Do you need software integrations to help pay bills or manage payroll?
Once you determine your business needs, it’s time to do some research. That’s why we rounded up some key differences between Relay and South State Bank.
In this article:
What is Relay?
Relay is a digital-first banking platform designed specifically for businesses. Our online business banking platform lets you bank anywhere, anytime, without the need for in-person branch visits.
Each of Relay’s financial services can help businesses take control of their cash flow. For example, Relay customers receive up to 20 free checking accounts to support their money management needs.
With features like percentage-based transfers, integrations with popular accounting tools, and a dedicated customer experience team, Relay simplifies and enhances the business banking experience.
What is South State Bank?
South State Bank is a regional bank that offers a blend of digital and in-person services.
South State Bank offers a blend of traditional banking services with the convenience of modern digital tools. Catering to both individuals and businesses, South State Bank provides a range of small business and commercial banking solutions, like checking accounts, savings accounts, lending services, and wealth management.
Where is South State Bank located?
South State Bank is a regional bank based out of Winter Haven, Florida. This financial institution has 240+ branches and ATMs located in Alabama, Florida, Georgia, North Carolina, South Carolina, and Virginia.
Relay vs. South State Bank comparison table
Features/Services | South State Bank | Relay |
Open Account Online | ⛔️ | ✅ |
Manage Banking Online | ✅ | ✅ |
Customer Support Channels | Phone, In-Person, Email | Chat, Email, Phone |
Online Banking & Mobile App | ✅ Web, Apple iOs, Android | ✅ Web, Apple iOs, Android |
FDIC Insurance | Member FDIC bank ✅ | ✅ FDIC-insured through our partner banks |
Minimum Balance Requirement | None | None |
Overdraft Fees | $36 | $0 |
Minimum Opening Deposit | $50 | None |
ATMs Access | 240+ | 55,000+ |
Branch Locations | 240+ | Online-only |
Interest-bearing Business Accounts | ✅ APY varies across accounts | ✅ 1-3% APY1 depending on balance |
Business Credit Cards | ✅ | ⛔️ |
Online Reviews | ||
Number of Checking Accounts | No free extra checking accounts | Up to 20 real checking accounts |
Integration with Money Management Tools | ✅ Accounting integrations with Quicken and QuickBooks | QuickBooks Online, Xero, Gusto |
Online banking
As a digital-first platform, Relay offers a comprehensive online banking experience. Businesses can track transactions, transfer funds, and manage their cash flow without ever stepping into a physical branch.
Our platform's user-friendly interface ensures that you can bank online with ease. Plus, integrations like QuickBooks Online, Xero, and Gusto can help streamline your accounting workflow.
South State Bank has a traditional banking model, but it does offer some online services. Businesses can manage their accounts, view transactions, and perform essential banking tasks through the bank's online portal.
Fee structure
Relay offers a transparent fee structure with no monthly account fees, no minimum balance requirements, and no overdraft fees. This transparency ensures your business can budget and plan its finances without any unexpected charges.
Customers can also upgrade to Relay Pro for extra features. With Relay Pro, customers can send same-day ACH payments, send domestic and international wire transfers at no additional cost, enable multi-step approvals, and more.
South State Bank's fee structure is straightforward. The entry-level Small Business Checking account charges no monthly service fee. The Business Gold Checking account charges a $15 monthly service fee, but the fee can be avoided if you meet certain requirements, like having a $2,500 average daily balance.
Depending on the account you enroll in, you may receive 150 or 350 free transactions. When you surpass that threshold, you may be charged $0.35 to $0.40 per transaction.
Customer support
Customer service is a cornerstone of Relay's mission. Our dedicated Customer Experience team is available from Monday to Friday, 9:30 AM to 6:30 PM ET. We provide multi-channel support, including email and phone, so that you can reach out in the manner that’s most convenient for you.
South State Bank offers its business customers support primarily through traditional channels–phone and in-person. While they might not have the extensive digital support channels that some newer banks offer, their long-standing presence in the community showcases their commitment to serving their customers' needs effectively.
Verdict: Which business banking partner should you choose?
When it comes to choosing a bank for your business, the decision often boils down to the specific needs and preferences of your company. Relay, with its digital-first approach, offers a suite of features tailored for modern businesses, emphasizing automation, integration, and a high level of customer support.
On the other hand, South State Bank brings a touch of tradition, emphasizing personal relationships and community ties. Their long-standing presence in the community and focus on in-person interactions might appeal to businesses looking for a more localized banking solution.
Both institutions have their strengths, and the best choice will depend on what your business values most. Whether it's the convenience of digital banking with Relay or the personal touch of South State Bank, it's essential to find a banking partner that aligns with your business's needs and goals.
If Relay is the right choice for your business, you can get started today! You can sign up entirely online here.
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.
Learn more
