Relay may ask certain business owners to confirm a few details about their business. This is part of a required business verification update from Relay’s banking partner, Thread Bank.
If this applies to your business, you’ll see a prompt in Relay asking you to confirm your information. The prompt only takes a few minutes to complete.
Why Relay needs this information
Relay’s banking partner now requires some additional business information that may not have been collected when your account was first opened.
To meet these updated requirements, Relay needs certain customers to confirm a few business details, including information about their business activity, account purpose, source of funds, expected transaction volume, and the countries where they operate.
This is a routine confirmation used to help keep account information complete and up to date.
Who may be asked to confirm business details?
A beneficial owner of the business may be asked to confirm these details if the Relay account was opened before these requirements were introduced.
If your business has multiple beneficial owners, only one beneficial owner needs to complete the prompt and provide the requested information.
What information you’ll need to confirm
If this applies to your business, you’ll be asked to confirm a few details, such as:
- Industry
- Business description
- Primary purpose of account
- Source of funds
- Expected transaction volume
- U.S. Nexus (does your business have ties to the USA?)
- Countries of operation
- Business regulation, such as whether your business is regulated by a government authority or financial regulator
How to confirm your business details
If your business needs to complete this update, you’ll see a prompt when you log in to Relay.
To confirm your business details:
- Sign in to Relay.
- Select the prompt to confirm your business details.
- Review and confirm the requested information.
- Submit your response.
Once your information is submitted, no further action is needed unless Relay contacts you.
When to confirm your business details
Please confirm your business details as soon as possible to avoid any interruption to your account.
If your business details are not confirmed by August 31, 2026, your account will be frozen. If your details are still not confirmed by September 15, 2026, your account will be closed.
If your account is frozen, completing the business verification prompt is the fastest way to restore access.
If your account is closed and there are remaining funds in the account, Relay will send the remaining balance by check to your business address on file.
How to know this request is really from Relay
Relay will never ask you to share your password.
To safely complete this request, log in directly at relayfi.com or through the Relay app. If this update applies to your business, the prompt will appear in your account. If any additional documentation is required, our team may reach out for more information
Frequently Asked Questions
Why am I being asked to confirm my business details?
Relay’s banking partner now requires additional business information for certain customers. If your account was opened before these requirements were introduced, Relay may need a beneficial owner to confirm a few details to keep your account information complete and up to date.
Who needs to complete the prompt?
You’ll only need to confirm the requested information directly in Relay. If any additional documentation is required, our team may reach out for more information
What information will I need to confirm?
You may be asked to confirm details such as your industry, business description, primary purpose of account, source of funds, expected transaction volume, U.S. nexus, countries of operation, and whether your business is regulated by a government authority or financial regulator.
What happens if I don’t complete this by August 31, 2026?
If your business details are not confirmed by August 31, 2026, your account will be frozen until the required information is submitted.
What happens if I still don’t complete this by September 15, 2026?
If your business details are still not confirmed by September 15, 2026, your account will be closed. If there are remaining funds in the account, Relay will send the remaining balance by check to your business address on file.
Will my account be restored after I confirm my details?
If your account has been frozen, access can be restored once the required business details are submitted and processed.
Can I complete this outside of Relay?
No. To protect your account, this request must be completed directly in Relay. If any additional documentation is required, our team may reach out for more information
What should I do if I’m having trouble completing the prompt?
If you’re unable to complete the prompt or something does not look right, contact Relay Support for help.