Offer at a glance
- Maximum bonus amount: $150
- Availability: Nationwide, only to those affected by Brex change
- Direct deposit required: None
- Additional requirements: None
- Hard/soft pull: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: None listed
- Household limit: None listed
- Expiration date: None listed
- Insurance: FDIC (partnered with Evolve Bank & Trust, Member FDIC)
The Offer
Relay Financial, a platform for small business banking and cash management, is offering the following signup bonus for small businesses who were affected by the recent Brex decision to stop services to small businesses:
- To help ease the transition from Brex to Relay, former Brex customers get $150 when they open an account and deposit at least $1 into a new Relay account.
- Requires proof that you were affected by Brex’s decision to end support for small businesses; just forward your account closure notice to support@relayfi.com.
The Fine Print
- This promotional offer is open to organizations that were notified by Brex on June 16, 2022, that their Brex accounts would be closed due to a shift in company strategy.
- Organizations impacted by Brex’s decision can register for a new Relay account and receive a one-time Offer of $150 USD. The Offer will be deposited into an organization’s new Relay account once the account has been approved, and the organization has deposited a minimum of $1 into the account. Additionally, organizations will need to prove they were impacted by Brex’s decision by forwarding their account closure notice email to support@relayfi.com.
- The $150 USD deposits may take up to fourteen (14) days after an organization has deposited requisite funds into their new Relay account and email proof has been sent to support@relayfi.com.
Avoiding Fees
Relay has no monthly fees and no minimum balance and no overdraft fees.
Our Verdict
Relay Financial is a platform for small business banking and cash management, much like what Brex was pitching to small businesses until their recent shift. This $150 bonus is a quick and easy win for anyone who was affected by the Brex change and wants to try out a new platform.
Relay is a fully virtual bank with no fees, allows opening up to 20 individual business checking accounts, comes with ACH capabilities and with the ability to issue up to 50 physical or virtual debit cards. They also offer a premium account for $30/month, called Relay Pro, which offers same-day ACH availability, free outgoing wire transfers, and the the ability to import bills from QuickBooks and Xero. (You can see the NerdWallet review on Relay here. Be sure to signup for this offer on the dedicated Brex bonus page linked above.)
