With our bank opening service, you can have your small business checking account open the same day we form your LLC. We partner with Relay Bank, your all-in-one small business banking and money management solution.
Keeping your business banking separate from your personal reduces your risk during an audit, gives you asset protection, makes bookkeeping easier, and can avoid partnership disputes.
It’s not legally required but highly recommended.
Relay is a no-fee, online business banking, and money management platform that helps small businesses take control of cash flow. You’ll easily see what you’re earning, spending, and saving.
The person opening the account must have the authority to do so. This person is usually an owner and/or manager.
When you start your business with us, you can include business banking. We automatically apply for your bank account as soon as we get your EIN. Your account happens almost immediately. It’s one less hassle for you to worry about!
To open your Relay Bank business bank account, you need your:
Because Relay Bank is online, it gives you a fully digital banking experience tailored for small businesses. Open your accounts and manage your business finances from the comfort of your home or office. Easily open new accounts and move funds instantly. If your business practices Profit First®, you’re all set! Relay Bank is the only official Profit First bank.
Everything we do at Wyoming LLC Attorney is designed to make starting your business as effortless as possible. In addition to your Relay Account, we offer accounting and bookkeeping services.
| Online and Convenient | FDIC Insured | Seamless, Efficient Integrations | Profit First® Official Bank | Crystal Clear Accounting |
|---|---|---|---|---|
| Because Relay Bank is online, you can open your account without having to go into a branch. When you set up your LLC with us, we can set up your account, too! | Relay Bank can spread your deposits between accounts, for a total FDIC coverage of $3,000,000. | Relay Bank offers direct integrations with QuickBooks Online, Xero, and many more! | Open up to 20 checking accounts to easily practice the Profit First® business banking method. | Consolidate your payments—including ACH transfers, wires, checks and payouts from PayPal, Stripe, Square and more. |
When you start a business, you want to open a business checking account. You use the account to receive income and to pay business expenses. We partnered with Relay Bank because we believe it’s the most convenient way to manage your financial transactions.
| Business Checking Account | Wyoming LLC Attorney & Relay Bank | Other Banks |
|---|---|---|
| Monthly service fee | $0 | $5+ |
| # of checking accounts | Up to 20 | Depends on bank |
| # of savings accounts | 2 | Depends on bank |
| # of physical and virtual debit cards | Up to 50 | Limited to the number of authorized users |
| Credit cards | ||
| Overdraft fees | $0 | $30+ |
| Secure, role-based access for team members | ||
| Receipt management | Some | |
| Mobile check deposit | Some | |
| Accounts payable services | Some | |
| 24/7 hands-on friendly support | Some | |
| Two-factor authentication and biometric security | Some | |
| FDIC insured | Up to $3M | Up to $250,000 |
| Zero Liability Protection | Some | |
| Profit First official bank | ||
| Currency exchange for outgoing international wires | varies | |
| Payments via ACH transfer, check and wire | ||
| Deposit and withdraw cash at Allpoint ATMs | Some | |
| Integrate with QuickBooks Online and Xero | Some | |
| You Pay: | $0/month | Too much |
Log in to your Wyoming LLC Attorney dashboard and choose Bank Account.
Answer a few questions. Don’t worry! We don’t just send you to Relay Bank and expect you to find your way. Our systems are integrated.
Relay Bank will set up your account.
Receive your debit card(s) in the mail.
You want to at least open a business checking account. This allows you to separate your business finances from your personal ones. Find one that doesn’t charge you a monthly fee or require a minimum balance (like Relay!). Business has ups and downs, and the last thing you want is unnecessary expenses.
Keeping your business finances separate from your personal ones is crucial. Doing so helps ensure you have a handle on cash flow. It also helps you accurately track invoices, expenses, and deductions. Mistakes and confusion are more likely to happen if all your finances are mixed together.
If you’re a sole proprietor, you can use your social security number. To open an account for a partnership, LLC, or corporation, you need an Employer Identification Number (EIN).
Yes! You can deposit cash via any AllPoint+ ATMs without paying any fees. There are more than 55,000 nationwide.
Relay Bank offers credit cards but not lines of credit. Don’t worry! We have a solution for you. Head over to accounting and bookkeeping to learn more about it.
Relay Bank integrates:
Deposits up to $3,000,000 per business are insured by the Federal Deposit Insurance Corporation (FDIC) through an insured cash sweep program managed by Thread Bank, Member FDIC.
The only types of businesses Relay is unable to support are those that deal with provisioning and exchanging cryptocurrency, the sale of firearms or weapons, credit repair, privately owned ATMs, money services, unlawful internet gambling, and cannabis sales.