Disappointing onboarding experience.
Recently attempted to open an account with Relay. As a business owner, I fully understand that fintechs and banks must adhere to strict AML (Anti-Money Laundering) and KYC (Know Your Customer) compliance protocols. I have no issue following exact procedures to verify my business. What I do take issue with is how poorly this process was executed and how little my time was respected.
From the start, the platform was plagued by technical glitches—the mobile app repeatedly failed to work properly, and the website continuously had issues recognizing trusted devices.
More frustrating, however, was the administrative runaround. I provided every single official document requested and made multiple follow-up calls to ensure every compliance requirement was met. My business activities were stated clearly from day one. Yet, after making me jump through endless hoops, I was hit with a generic line stating my business "was not a good fit for a growing bank."
If a business does not align with Relay’s risk appetite, that should be determined upfront—not after dragging a founder through an exhaustive paper chase. Why make people run around gathering paperwork for nothing?
The only redeeming aspect of this experience was the customer support team. They were patient, helpful, and provided clear answers when I needed guidance. However, great support representatives cannot compensate for broken technology and a deeply flawed onboarding process that disrespects a business owner's time...