Thread Bank is Relay’s partner bank, they handle the core banking tasks created within Relay.
Through Thread, every organization on Relay is FDIC insured* up to $2,500,000.
For more information on Thread Bank, visit their website at https://www.thread.bank/.
*Relay is a financial technology company, not an FDIC-insured bank. Banking services and FDIC insurance are provided by Evolve Bank & Trust and Thread Bank; Members FDIC. Relay customers that signed up for an account before January 1, 2023 and have not yet been invited to upgrade to Relay 2.0 are insured up to $250,000 by the FDIC through Evolve Bank & Trust. Relay customers that have upgraded to Relay 2.0 or signed up for a Relay account on or after January 1, 2023 are insured up to $2,500,000 per business by the FDIC through an insured cash sweep program managed by Thread Bank, Member FDIC.