Updated May 2026
Relay Bank ITIN Account 2026: Free Business Checking Guide
Relay Bank accepts ITIN holders for free business checking with $0 monthly fees, $0 minimum balance, and up to 20 separate checking accounts per business. Relay integrates with QuickBooks Online, Xero, and Gusto. Each checking account gets its own account number and free Visa debit card. Relay partners with Evolve Bank & Trust for FDIC insurance up to $250,000. If you are a freelancer or small business owner with a US LLC and an ITIN, Relay provides the organized, transparent banking you need to run your business and file your ITIN tax return cleanly.
What Is Relay Bank and Why Do ITIN Holders Use It?
Relay is an online business banking platform built for small businesses, freelancers, and sole proprietors. It launched in 2018 and partners with Evolve Bank & Trust for FDIC-insured accounts. Relay has no physical branches and operates entirely online.
Relay by the Numbers
- Up to 20 free checking accounts per business
- $0 monthly fees across all account tiers
- $0 minimum balance requirement
- $250,000 FDIC insurance per depositor
- Free Visa debit cards (physical and virtual)
- Free ACH transfers and free incoming wires
- $5 per outgoing domestic wire
- Direct integration with QuickBooks, Xero, and Gusto
- Automatic percentage-based transfer rules
- 1 to 3 business day approval for most applications
Relay stands out because of its multi-account structure. Instead of keeping all money in one account, you create purpose-based accounts for operations, taxes, payroll, and profit. This approach, known as profit-first budgeting, gives you real-time visibility into where your money goes.
Does Relay Bank Accept ITIN Holders for Business Accounts?
Yes. Relay accepts ITINs as valid tax identification for business account owners. Your ITIN replaces the SSN field in the application. Relay treats ITIN accounts identically to SSN accounts for all features, fees, and capabilities.
Business Entity Requirement
Relay is business-only banking. You need a US-registered LLC, corporation, or other business entity. Sole proprietors with an EIN also qualify. If you do not have a business yet, form an LLC with your ITIN first. Popular states include Wyoming ($100), Delaware ($90), and New Mexico ($50).
Legal Basis for ITIN Banking
Under IRC Section 6109, the IRS authorizes ITINs as valid tax identification numbers. The Bank Secrecy Act (31 USC 5318) requires banks to verify customer identity using a taxpayer ID, and ITINs satisfy this requirement per the Treasury Department 2003 CIP final rule. The CFPB encourages banks to serve ITIN holders for financial inclusion purposes.
What Business Banking Features Does Relay Offer ITIN Holders?
Relay provides 6 core features that work identically for ITIN and SSN holders.
Up to 20 Checking Accounts
Create separate accounts for different business purposes. Each account has its own account number and optional debit card. Name accounts based on purpose: operations, taxes, savings, marketing, payroll, or any custom category. This is Relay's top feature for business financial organization.
Automatic Transfer Rules
Set rules to automatically split incoming deposits by percentage or fixed amount. Example: 50% to operations, 30% to taxes, 10% to profit, 10% to savings. Transfers execute automatically on every deposit. This eliminates manual transfers and ensures tax money is always set aside.
Free Visa Debit Cards
Get free physical and virtual Visa debit cards for each account. Set individual spending limits per card. Track expenses by account category. Virtual cards are created instantly for online purchases and subscriptions.
Free ACH Transfers
Send and receive ACH payments at $0 cost. This covers vendor payments, client invoices, contractor payments, and payroll disbursements. Outgoing domestic wires cost $5 each. Incoming wires are free.
Accounting Integrations
Relay connects with QuickBooks Online, Xero, and Gusto. Transactions sync automatically from all 20 accounts. This eliminates manual bookkeeping and keeps your financial records clean for tax filing.
Team Access
Invite bookkeepers, accountants, or business partners with customizable permission levels: view-only, transfer, or full admin. This is useful for ITIN holders who work with US-based CPAs.
How Do You Open a Relay Account with Your ITIN?
The setup takes 6 steps and 1 to 3 business days. The entire process is online.
- Go to relayfi.com and click Get Started. Enter your email and create a password to begin the application.
- Enter your business details. Provide your LLC name, state of registration, EIN, business address, and industry category.
- Enter your personal information. Provide your legal name, date of birth, and ITIN as your tax identification number. Upload your passport for identity verification.
- Upload business documents. Relay requests your Articles of Organization, EIN confirmation letter (CP575), and operating agreement if applicable.
- Wait for approval. Relay reviews most applications within 1 to 3 business days. You receive an email when your account is ready.
- Set up your accounts and cards. Create your checking accounts (up to 20), name them, set up automatic transfer rules, and order debit cards. Fund via ACH or wire transfer.
How Do You Set Up Profit-First Budgeting on Relay with an ITIN?
The profit-first method uses 5 accounts to organize business finances. Here is the recommended setup for ITIN holders with a US LLC.
| Account Name | % of Revenue | Purpose |
|---|---|---|
| Income | 100% (receives all deposits) | Holding account for incoming revenue |
| Operating Expenses | 50% | Software, supplies, contractors |
| Tax Savings | 25 to 30% | Estimated quarterly tax payments |
| Owner Pay | 10 to 15% | Personal draw or salary |
| Profit Reserve | 5 to 10% | Business growth or emergency fund |
Pro tip:
Use Relay automatic transfer rules to split every deposit across these accounts. Set 30% to Tax Savings immediately. As an ITIN holder with a US LLC, you owe estimated quarterly taxes to the IRS. Automating tax savings prevents the common problem of spending tax money on operations.
What Does Relay Cost for ITIN Holders in 2026?
Relay charges identical fees to ITIN and SSN holders. Here is the complete fee schedule.
| Service | Fee |
|---|---|
| Monthly maintenance | $0 |
| Minimum balance | $0 |
| ACH transfers | $0 |
| Incoming wire transfers | $0 |
| Outgoing domestic wires | $5 per transfer |
| Physical debit cards | $0 |
| Virtual debit cards | $0 |
| Additional checking accounts | $0 (up to 20) |
| FDIC insurance | Up to $250,000 |
If you need international transfer features, pair your Relay account with a Wise ITIN account for multi-currency conversions at 0.3% to 1.5%. Compare all options in our ITIN bank account guide. For an alternative business bank, see our Mercury Bank ITIN guide.
What Should You Do After Opening Your Relay ITIN Account?
After opening Relay, take these 4 steps to build your US financial foundation.
- Build credit. Apply for a secured credit card with your ITIN to start building a US credit score. After 12 to 18 months, your score reaches 680+ for better financial products.
- Set up payment processing. Connect your Relay account to PayPal or Stripe for receiving client and customer payments.
- File your taxes. Use your Relay transaction records for accurate ITIN tax return filing. QuickBooks integration simplifies the process.
- Plan for growth. Explore ITIN mortgage programs and real estate investing once you have established banking history and credit.
Frequently Asked Questions About Relay Bank and ITIN
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