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$500 Bonus with New Relay Financial Account
Relay Financial, an all-in-one business banking and money management platform for small businesses, is offering a simple $500 bonus for new customers who open a checking account. This is a fintech company with banking services provided by Thread Bank, Member FDIC. Let’s go over the bonus details.
The Offer
Open a new Relay Financial account to earn $500. Here’s how:
- Deposit $10,000 into your Relay account within the first 30 days of account opening
- Maintain $10,000 for 90 days.
- Reward is deposited into your Relay account within 30 days of meeting the requirements.
Key Terms
- This offer is available online and nationwide.
- Each Relay user can only claim one bonus.
- Account has no monthly fees.
Conclusion
This is a simple $500 bonus from Relay Financial. You need to deposit $10,000 into the new business checking account within the first 30 days, and keep that balance for 90 days.
The account has no monthly fees, and you can open it online fairly quickly. I was able to open it as a sole propietorship, using my SSN.
HT:Â Doctor of Credit
Do these terms mean the funds are not covered by the FDIC for a period?
2 Your deposits qualify for up to $3,000,000 in FDIC insurance coverage when Thread Bank places them at program banks in its deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://thread.bank/sweep-disclosure/ and a list of program banks at https://thread.bank/program-banks/. Please contact customerservice@thread.bank with questions on the sweep program. Pass-through insurance coverage is subject to conditions.
I recommend folks read the horror stories in the DoC comments on this one. Seemingly every third comment is someone being denied a bonus and the DoC crowd isn’t generally one to mess these things up.