Relay is powerful (and free) business banking designed to help grow your business. This free online business account is a good fit for companies that want to integrate their banking and cash management services.
No monthly fees or minimum balance requirements.
No overdraft fees, unlimited transactions, and free incoming wire transfers.
Business owners can have up to 20 business checking accounts and 50 Mastercard® debit cards (virtual or physical).
Ability to set transaction and withdrawal limits on employee debit cards.
Cannot deposit cash or order checks.
Long hold time for deposited checks (up to 6-7 business days).
Wise isn't a bank in the US but a money transfer operator that's well-known for offering some of the cheapest international transfers globally. However, in addition to money transfers, Wise also offers a Multi-Currency Account, a low-cost foreign currency spending account, and a Visa debit card.
Even without a US residence, the Wise Account gives you US checking details.
A debit card to spend in 50+ currencies, including US dollars.
You can use this account to get paid by employers in US dollars. - Send money domestically within the US.
The Wise debit card is accepted worldwide.
Local bank details are not just in the US, but also in the UK, EU, Australia, New Zealand, Singapore, Romania, Canada, and Hungary.
The fee to receive wire transfers (domestic and international) is $7.50 per transaction.
Incoming payments can only be in US dollars, no other currency will be accepted.
Incoming domestic transfers take 2 to 3 working days to arrive in the account, while international transfers take 4 to 5 days.