How to Set Up Auto-transfer Rules on Relay 2.0

With Relay 2.0, you can set up smart transfer rules that automate cash flow between your checking accounts. There are two ways to set up auto-transfer rules. See below to learn more about this feature. 

Table of Contents

• Profit First rule
  • What is the Profit First rule? 
  • How do I set up the Profit First rule?
  • Video Demo
• Maximum balance rule
  • What is the maximum balance rule?
  • How do I set up the maximum balance rule?
  • Video Demo
• Frequently Asked Questions (FAQ)

Profit First rule

What is the Profit First rule? 

Relay is now the official banking platform for Profit First, and the Profit First Rule is built specifically for businesses that use the Profit First method to manage cash. This rule enables users to set a maximum balance for their Income account and automatically allocate excess to Profit First accounts (like Profit, Tax, Owner's Comp and OpEx).

How do I set up the Profit First rule?

1. Navigate to the Accounts page and click Move money. You'll see a dropdown menu; from there click Auto-transfer rules.  
2. Click on the Profit First rule template.
3. Start by giving your Profit First rule a name. Then, select a transfer frequency—either daily, weekly, twice monthly or monthly. Set a maximum balance for your sending account (can be as little as $0 to sweep the entire balance out of the account). From there, select your receiving checking accounts and the percentage allocation for each account. 

4. Click Create auto-transfer rule once you're happy with how your auto-transfer rule is set up.

5. Review the details of your Profit First rule and click Confirm auto-transfer rule.

Video demo:

Maximum balance rule

What is the maximum balance rule?

The maximum balance rule allows business owners to set a maximum balance for one of their checking accounts. Any money above the set amount will be automatically transferred to one or more checking accounts of their choosing at their desired frequency. 

How do I set up the maximum balance rule?

1. Navigate to the Accounts page and click Move money. You'll see a dropdown menu; from there click Auto-transfer rules.  
2. Click on the maximum balance rule template.
3. Start by giving your Maximum balance rule a name. Then, select a transfer frequency—either daily, weekly, twice monthly or monthly. Set a maximum balance for your sending account (can be as little as $0 to sweep the entire balance out of the account). From there, select your receiving checking accounts and the percentage allocation for each account.

1. Click Create auto-transfer rule once you're happy with how your auto-transfer rule is set up.
2. Review the details of your Maximum balance rule and click Confirm auto-transfer rule.

Video Demo

Frequently Asked Questions (FAQ)

• Who can set up, view and edit auto-transfer rules?
  • Team members with administrator-level permissions and advisors with super administrator-level permissions. 
• How can I edit an auto-transfer rule once I have set it up?
  • Navigate to Accounts > Move Money > Auto-transfer rules. Scroll down to "Your auto-transfer rules" and click the three vertical dots on the right-hand side; then select "Edit auto-transfer rule:". For more information please see: Editing Auto-Transfer Rules.
• I don't have Relay 2.0, can I set up auto-transfer rules?
  • Auto-transfer rules are currently only available for Relay 2.0 accounts. If you have any questions about migrating to Relay 2.0, or you're not sure if your account is on Relay 2.0, please reach out to our Support Team.