Ramp vs Relay
short answerBoth are traditional neobanks with similar positioning — the real differences are FX markup, fees, license and geography, compared field by field below.
Ramp: Spend management + business accounts.
Relay: Multi-account SMB banking (Profit First).
Side by side
| Ramp | Relay | |
|---|---|---|
| Category | traditional | traditional |
| Audience | SMB & startups | SMB & startups |
| HQ | New York, US | Toronto/US |
| Founded | 2019 | 2018 |
| Custody | Custodial | Custodial |
| Regulation | Partner-bank model | Partner-bank model |
| License detail | Partner banks | Partner bank (Thread Bank, Member FDIC); previously Evolve Bank & Trust |
| Card | Visa · Corporate card | Visa · Business debit |
| Cashback | 1.5% | — |
| Yield | Treasury yield | Yield on savings |
| FX markup | — | — |
| Services | — | — |
| Stablecoins | No | No |
| KYC | Yes | Yes |
| Regions | North America | North America |
| Reported users | — | — |
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.