You own your own business â€" congrats! Whether you have an LLC or are ready to hire your 100th employee, you're living the American Dream.
Getting to this point has taken a lot of work, and it doesn't exactly leave you with a lot of free time. Keeping your finances in order can be one of the most time-consuming parts of owning a business.
That's why we like Relay. It's a free business banking platform that organizes your financial accounts, makes managing your team easier and is an accountant's dream.
Grow Your Business With This Fee-Free Tool
Relay Financial is a free online banking platform that can not only help you better understand your cash flow, expenses and vendor payments, but it can also help you maximize your profits.
Here's how Relay works: When you open a free account, you'll have access to multiple checking accounts â€" your main income account, then separate accounts for things like payroll or expenses. Other banking platforms just create sub accounts with the same routing numbers, but Relay gives you unique account and routing numbers â€" up to 20 for you to use as needed.
Do you have team members who need access to the books? Choose who gets access and how much with multiple logins available. Plus, you can give out up to 50 Mastercard® debit cards to team members and easily see who spends how much and where. Set a limit for the person grabbing coffee and bagels or give your VP of Sales free reign for client outings. It's all customizable (and yes, still free).
Relay's powerful money management platform helps you stay on top of your finances, and easily layers on top of your existing bank to seamlessly integrate without all the fuss of changing banks.
Small Businesses Thrive With a Free Relay Account
The free platform easily integrates with account software like QuickBooks Online or Xero and allows you to give access to your bookkeeper or accountant. And there's no need to set up rules to sort incoming transfers â€" Relay automatically categorizes the data. Like we said, it's an accountant's dream.
Relay gives small businesses the ability to run like a big company with an entire finance team â€" but without the added expense. Plus there are no account minimums, overdraft fees or withdrawal fees at any Allpoint ATM.
It takes about 10 minutes to apply for a free account, and most companies are approved automatically or within 72 hours. Are you ready to take your business to the next level?
Kari Faber is a staff writer at The Penny Hoarder.Â
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
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