We created this checklist to help ease the transition from your current banking provider to Relay. If you have any questions about switching to Relay, please send them to support@relayfi.com; a member of our Customer Support team will be delighted to help you!
Start by moving your deposits to Relay
Incoming payments
Businesses or individuals that send you payments by ACH, check or wire will need to update the banking details they have on file for you. Send them your new Relay account and routing number (we’ve included an email template below that you can use).
Navigate to the Accounts page to find account and routing numbers for Relay checking accounts. Find the checking account you would like payors to deposit money into, and click the “copy” icon beside the account and routing numbers. Insert them into the email template below.
Your email template:
Hi [Your Customer's Name],
I wanted to let you know that I have moved my banking to Relay. As a result, the banking details you have on file for [Your Business Name] need to be replaced with my new account information.
Going forward, please use the following details when sending payment to [Your Business Name]:
[Add your business name, account number and routing number]
Can you please make sure that this is updated on your end by [date]?
Thank you, and please let me know if you have any questions.
[Your name]
Payment processors and bill pay tools
If you move money through payment processing tools like Stripe or use a bill pay tool like Bill.com, then you will need to make sure each tool is integrated with Relay.
We've rounded up instructions for updating banking details in popular payment processing tools here.
You need to add a Relay account and routing number to each tool. Navigate to the Accounts page to find account and routing numbers for Relay checking accounts. Find the checking account you would like payors to deposit money into and click the “copy” icon beside the account and routing numbers. Then copy these details into the payment processing tool you're updating.
Move pre-authorized debit card transactions to Relay debit cards
When switching banking platforms, you will need to make sure all pre-authorized debit card transactions are moved over to new Relay cards so you don't miss any payments.
First, issue new debit cards by navigating to the Cards section in Relay.
With Relay you can create up to 50 physical or virtual Visa debit cards. Visa debit cards can be used anywhere credit cards are accepted. Follow the instructions here to issue Relay debit cards for your business.
Then, you’ll want to move all of your pre-authorized card transactions to your new Relay debit cards. Think software subscriptions and monthly utilities.
You should also update any other vendor that has your card details on file for one-off or ad hoc payments, like Amazon.
Update other types of withdrawals with new Relay account details
This would be your payroll processing tool and other vendors that pull pre-authorized ACH transfers from your account.
For payroll processing tools, we have included instructions for the providers most popular within our customer base below:
How to update checking account information in Gusto
If you have Admin-level access in Gusto, you can update Gusto with your new Relay bank account information by following the steps below.
First, we recommend confirming what your Gusto direct deposit payment speed is—this is the amount of time between Gusto pulling payroll from your account and it being deposited into your employees’ bank accounts (typically next-day, two days or four days). Knowing this will help you plan out when to move payroll to a Relay checking account and when the new account needs to have enough money in it to make a payroll payment. Log in to Gusto, click Payroll and then Payroll Settings to see your direct deposit payment speed.
There are two ways to update and verify new checking account information in Gusto:
- Instant Bank Verification
- Test Deposit Verification
Update Gusto using Instant Bank Verification
Instant Bank Verification is a faster method for moving payroll to a new checking account, enabling you to bypass test deposits when connecting a bank account to Gusto.
Gusto uses Plaid for Instant Bank Verification so you’ll have to have the Plaid integration enabled in your Relay account (Go to Setting > Integrations in Relay to set up your Plaid integration). Then, follow the steps outlined here to add and verify your new Relay checking account within Gusto using IBV.
Update Gusto using Test Deposit Verification
If you’re unable to use Instant Bank Verification, you will have to use test deposits to verify your new Relay checking account in Gusto before payroll can be processed. With this method, Gusto will send two test transactions to your checking account; the process can take 2-3 business days. Follow the instructions outlined here under “Change your company bank account”.
How to update checking account information in Patriot
We recommend confirming with Patriot which direct deposit funding timelines you are on before changing your payroll to pull from a Relay checking account.
There are two ways to update checking account information in Patriot:
- Instant Bank Account Verification
- Manual Account Verification
Update Patriot using Instant Bank Account Verification
The Instant Bank Account Verification process is much faster and easier than the alternative of Manual Account Verification; we recommend trying Instant Verification first by following the steps outlined here.
Patriot uses Plaid for Instant Bank Account Verification so you’ll need to have the Plaid integration enabled in your Relay account( Go to Setting > Integrations in Relay to set up your Plaid integration).
Update Patriot using Manual Account Verification
If you’re unable to use Instant Bank Account Verification, you will have to use test deposits to verify your new Relay checking account in Patriot before payroll can be processed. With this method, Patriot will deposit and withdraw a small amount to and from your new checking account; the process can take up to 3 business days. Follow the instructions here to go through Manual Account Verification within Patriot.
How to update checking account information in ADP Run
If you use ADP Run to process payroll and need help updating your banking information within your ADP account, we recommend reaching out to their support following the instructions outlined here.