Relay cannot open accounts for businesses in certain industries due to Thread Bank policy and federal regulatory restrictions.
Which industries can't open a Relay Account?
Relay cannot open a Relay Account for businesses operating in any of the following industries:
Adult entertainment
Cannabis-related businesses (including CBD products)
Cryptocurrency and virtual currency businesses
Dating and escort services
Debt collection
Debt consolidation
Direct marketing and telemarketing
Gambling (including fantasy-sports platforms)
Money Services Businesses (see the full list below)
NFTs (non-fungible tokens)
Payday lenders
Prescription drugs
Promotion of racism or bigotry
This list reflects current Thread Bank policy and can change without notice.
Which Money Services Businesses are ineligible?
Money Services Businesses (MSBs) are ineligible as a category, which covers any business that operates as one of the following:
Currency dealers or exchangers
Check cashers
Issuers of traveller's checks, money orders, or stored value
Sellers or redeemers of traveller's checks, money orders, or stored value
Money transmitters
U.S. Postal Service
Which business structures aren't currently supported?
Relay only opens accounts for U.S. business entities with a U.S. operating presence, and even inside that scope, a few structures aren't supported today:
Escrow accounts
Trusts
Series LLCs
401(k) accounts
These are structural limits on the entity types Relay's onboarding flow can process at this time, separate from the industry restrictions above.
Why does Relay restrict these industries?
Two reasons: banking-partner policy from Thread Bank, Member FDIC, and federal regulatory rules that apply to fintechs and their bank partners. These restrictions apply across all Relay account types and every Relay subscription plan.
How do I check if my business qualifies?
Start a Relay Account application at relayfi.com and Relay's onboarding flow will confirm eligibility based on your business's industry classification. If you're not sure whether your business fits a restricted category, contact our Customer Experience team before applying so your case can be reviewed.
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