Calculating interest on your Relay savings accounts

Calculating interest on your Relay savings account can help you understand how your money is growing over time. The interest you earn depends on your total account balance and your Relay subscription plan.

Each business on Relay can open up to 2 savings accounts. When your Relay account is approved, you will have one savings account automatically created for you. For more information on how to open a savings account, please see: Adding and editing savings accounts.


How do I earn interest on my savings account?

Relay customers will earn 1.03-3.03% APY (Annual Percentage Yield)2 on their savings account balances.

Your APY will be determined by your Relay subscription plan: Starter, Plus, or Scale. However, only the funds held in your savings account(s) - not checking accounts - will accrue interest. 

Feature

Starter

Grow

Scale

APY 1.03% 1.75% 3.03%

Interest is paid out monthly.

 

 

Savings Account APY Interest Calculator

When is interest paid out?

Interest will be paid out within the first three days of the month (for the previous month). 

What happens if I change my plan?

When you change your Relay subscription plan, upgrades take effect immediately—users are charged right away and receive instant access to the new plan’s features and APY, with any unused time on their previous plan credited.

In contrast, downgrades or cancellations take effect at the end of the current billing cycle, meaning users retain access to their current plan and APY until that period ends. Interest is calculated daily and paid out monthly, so when you upgrade your plan, the higher APY begins accruing immediately. If a user cancels or downgrades, the current plan’s APY continues until the end of the billing cycle, after which the new tier's APY is applied.

When is interest paid out?

Interest will be paid out within the first three days of the month (for the previous month).

Please also note that APY earnings are calculated daily based on your end-of-day balance, but payouts occur on a monthly basis. Since APY is compounded, interest is earned not only on the principal balance but also on the accumulated interest in your savings accounts.

Each day, the APY earnings are determined using the formula: [EOD balance x 0.01] á 365 (with 1% APY used as an example). The daily interest earned is accumulated throughout the month, and the total will be credited to your savings accounts within the first three days of the following month.


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