Piermont Bank vs Relay: Which Bank Is Best for Entrepreneurs?

Get started with Piermont Bank to access high-yield accounts and business lending here: https://startupwise.com/piermontbank/ ^Piermont Savings APY is now 3.50% APY. See the video description or Piermont’s site for details. Get started with Relay to organize your cash flow and simplify banking here: https://startupwise.com/relay/ ^ Exclusive offer for our viewers: Get a $100 sign-up bonus when you fund a new Relay account with a minimum deposit of $100! In this video, I'll compare Piermont Bank and Relay and break down which one is the better choice for entrepreneurs in 2025. Choosing the right business bank is a big decision because it affects how you manage cash flow, pay vendors, access credit, and grow your business. That is why we are comparing these two platforms head-to-head. One is a relationship-driven commercial bank, and the other is a digital-first fintech built for small businesses. Our favorite business must-haves: 💳 Best business credit cards: https://startupwise.com/creditcards 🏦 Novo (best business bank): https://startupwise.com/novo 🖥️ Best AI website builder ($3/month using code STARTUPWISE): https://startupwise.com/hostinger/ ⚙️ Northwest (best $39 LLC formation service): https://startupwise.com/northwestLLC 💰 Payroll with Gusto (get 2 months free!): https://startupwise.com/gusto 👨💼 Best overseas staffing agency (save 80% on payroll): https://paired.so/startupwise Be sure to watch this video until the end because I will compare account features, fees, interest rates, and lending options so you can see exactly how Piermont and Relay stack up against each other. Piermont stands out for its high-yield money market accounts and strong lending options, while Relay makes a name for itself with multiple sub-accounts, built-in bill pay, and simple pricing. This way, you will know which one fits your stage of business and financial goals. Both banks have pros and cons. Piermont Bank offers lending, relationship managers, and financing tools for high-growth businesses, but it may be more than you need if you are just starting out. Relay is easy to set up, transparent with pricing, and gives you modern cash-management tools, but it does not provide traditional business loans. Between Piermont’s high-touch banking and Relay’s digital simplicity, you will learn which features matter most for your business banking needs. If you found this video helpful, be sure to check out our other videos on: Piermont Bank vs Bluevine: Which Business Account Offers More Value?: https://youtu.be/OYqkO2gk7OE Piermont Bank vs Mercury: Which Is Better for SMB Banking in 2025?: https://youtu.be/FQny47yRZEM Request New Videos Here: https://forms.gle/k9TtfauggkEpAWNQA More tutorials on our website: https://www.startupwise.com Thanks for watching! I hope you have a wonderful day! – Eric #PiermontBank #Relay #BusinessBanking Timeline: 0:00 - Introduction 0:45 - Quick Overview of the Comparison 1:00 - What is Piermont Bank? 3:13 - What is Relay Bank? 5:17 - Comparing Accounts and Interest Rates 7:09 - How to Organize Cash Flow with Each Bank 8:22 - Payments and Invoicing Explained 9:29 - Debit Cards and Credit Card Options 10:40 - Business Loans and Financing Overview 10:47 - Piermont Bank Lending Explained 11:53 - Relay Capital and Credit Options 12:29 - Banking Fees and Costs Compared 12:33 - Piermont Bank Fees and Pricing 13:25 - Relay Fees and Pricing 14:06 - Security and FDIC Insurance 14:53 - Customer Support and User Experience 16:00 - Who Piermont Bank is Best For 17:11 - Who Relay is Best For 18:30 - Final Thoughts and Comparison Recap 19:35 - Conclusion Disclaimer: Some of the links above may be affiliate links, meaning I may receive a small commission if you click on them. The commission is paid by the retailers at no cost to you, and this helps to support our channel and keep our videos free. Thank you! All info from our videos is compiled from online sources and our own experience, and we encourage you to do your due diligence. We appreciate your viewership! In addition, we are not financial advisors. StartupWise does not provide tax, legal, or accounting advice. The ideas presented in this video are for entertainment purposes only. Please do your due diligence before making any financial decisions.