Setting up auto-transfer rules

With Relay, you can set up smart transfer rules that automate cash flow between your checking and savings accounts. There are two ways to set up auto-transfer rules; read on to learn more about this feature!

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 using the Profit First cash management method. 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 to set up the Profit First auto-transfer rule (Web)

1. Sign in to your Relay account.
2. On your Home page, click Move money at the top-right corner of your screen.
3. Click Auto-transfer rules.  
4. Click on the Profit First rule template.
5. Start by giving your Profit First rule a nickname. Then, select a transfer frequency—either daily, weekly, twice monthly, or monthly.
6. Set a maximum balance for your originating checking account (this can be as little as $0 to sweep the entire balance out of the account if desired). This will determine the point at which excess funds from this account will be auto-swept into other accounts.
7. Select your receiving checking accounts and the percentage allocation for each account. The percentages will be pre-filled to align with the Profit First method, but you can still edit these to your liking.
8. Once you're happy with your setup, click Create auto-transfer rule.
9. Review the details of your Profit First rule, then click Confirm auto-transfer rule.

How to set up the Profit First auto-transfer rule (Relay Mobile App)

1. Sign in to the Relay app on your mobile device.
2. On your Home page, tap Move money at the top of your screen.
3. Tap Auto-transfer rules.
4. Select the Profit First rule template.
5. Start by giving your Profit First rule a nickname. Then, select a transfer frequency—either daily, weekly, twice monthly, or monthly.
6. Set a maximum balance for your originating checking account (this can be as little as $0 to sweep the entire balance out of the account if desired). This will determine the point at which excess funds from this account will be auto-swept into other accounts.
7. Select your receiving checking accounts and the percentage allocation for each account. The percentages will be pre-filled to align with the Profit First method, but you can still edit these to your liking.
8. Once you're happy with your setup, tap Next.
9. Review the details of your Profit First rule, then tap Save auto-transfer rule.

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 to set up the maximum transfer rule (Web)

1. Sign in to your Relay account.
2. On your Home page, click Move money at the top-right corner of your screen.
3. Click Auto-transfer rules.  
4. Click on the Maximum balance rule template.
5. Start by giving your rule a nickname. Then, select a transfer frequency—either daily, weekly, twice monthly, or monthly.
6. Set a maximum balance for your originating checking account (this can be as little as $0 to sweep the entire balance out of the account if desired). This will determine the point at which excess funds from this account will be auto-swept into other accounts.
7. Select your receiving checking accounts and the percentage allocation for each account.
8. Once you're happy with your setup, click Create auto-transfer rule.
9. Review the details of your rule, then click Confirm auto-transfer rule.

How to set up the maximum transfer rule (Relay Mobile App)

1. Sign in to the Relay app on your mobile device.
2. On your Home page, tap Move money at the top of your screen.
3. Tap Auto-transfer rules.
4. Select the Maximum balance rule template.
5. Start by giving your rule a nickname. Then, select a transfer frequency—either daily, weekly, twice monthly, or monthly.
6. Set a maximum balance for your originating checking account (this can be as little as $0 to sweep the entire balance out of the account if desired). This will determine the point at which excess funds from this account will be auto-swept into other accounts.
7. Select your receiving checking accounts and the percentage allocation for each account.
8. Once you're happy with your setup, tap Next.
9. Review the details of your rule, then tap Save auto-transfer rule.

Permissions

Only team members with Administrator permissions, or advisors with Super Administrator permissions, can create and/or edit auto-transfer rules.

How can I edit an auto-transfer rule once I have set it up?

For detailed instructions on how to edit existing auto-transfer rules, please see Editing auto-transfer rules.

At what time of day are scheduled auto-transfers initiated?

Once an auto-transfer rule is set up, transfers will occur at 2am EST on their scheduled dates.