Now that your Relay account is ready to use, the most crucial thing to do is just that—use it!
There are several reasons that it’s important to start using your business bank account right away:
Show legal business intent: Using a dedicated business bank account helps demonstrate that your business is a legitimate, separate entity. This is especially important for legal and tax purposes, as it establishes a clear distinction between you as an individual and your business. If your business is ever audited or faces legal scrutiny, having a dedicated account can provide evidence that you are operating as a formal business rather than a hobby or personal endeavor.
Separate personal and business expenses: Separating your business expenses from your personal spending habits as quickly as possible will simplify bookkeeping, help you manage cash flow effectively, and ensure clean records for tax reporting. It also makes it easier to build business credit and maintain financial clarity when working with accountants, lenders, or investors.
Be ready to transact: Since your first deposit may take a few days to process, it's important to transfer funds in as soon as possible. This ensures you’re ready to use your funds as soon as you need them, helping you avoid issues like declined transactions or payment processing delays.
How to fund my account
In order to use your account, you’ll need to put some money in it. To fund your account, start by linking an external account. You can give your external account a nickname to make it easily recognizable.
From there, you can transfer funds into your account by following these steps.
Ways to use my account immediately
Once you’ve got funds in your account, you can officially start using it! To demonstrate clear and regular business intent, we recommend immediately shifting some of your recurring expenses to auto-withdraw from your Relay account. Here are some ideas to get you started:
Office space: Rent, utilities, internet, coworking space membership fees
Subscriptions: Accounting software, project management tools, CRMs
Marketing: Website hosting, email platforms, social media expenses
Organizational costs: Registered Agent service, retainer fees for financial and legal advisors, business liability insurance
If an expense is recurring and directly related to running your business, consider setting it up through your new account!