Donna Genie recommends pairing a local bank for loans and cash deposits with Relay, a modern platform for day-to-day operations. Use Relay to create multiple accounts by purpose, issue limited team cards, and sync with accounting software. You get cash handling plus online control.
Running a small business is all about balancing tradition and innovation. You need financial systems that are reliable, yet flexible enough to support your growth and keep things running smoothly. So what's the ideal banking setup for a small to medium sized business? Let's take a look and break it down. First, if you've taken out a loan for your business, whether it's to expand your operations, purchase new equipment or upgrade facilities, keeping an account with the bank that issued that loan is probably a smart move. A strong relationship with your lender can be invaluable when you need to refinance or secure additional funding in the future. But here's the catch. Traditional banks are often limited in their day to day banking capabilities. That's why we recommend pairing your loan account with a modern banking platform like Relay. Relay is a game changer for small medium sized businesses, offering flexibility and tools that make managing your money simple and efficient. So let me tell you how Relay works. First, you can easily transfer funds from your loan account to your Relay account to manage your operations or set aside money for projects. You can create multiple accounts within Relay very quickly to keep your finances organized. So for example, you can set up a dedicated account for taxes, payroll, savings, special projects, giving every dollar a purpose. Give your team members debit or credit cards with spending limits and restrictions so you can maintain control over the expenses without having to micromanage everything. Integrate your accounting system to streamline the bookkeeping and reduce the errors. This will save you time and what really matters is running your business. For businesses that deal with cash transactions, a local bank is still essential. So use your local account for cash deposits. While Relay handles the bulk of your financial management online. This combination lets you enjoy the convenience of in person banking while leveraging modern tools to streamline your operations. So the result, you get the best of both worlds. A strong relationship with a local bank for loans and cash deposits. Paired with flexibility and organization and efficiency of Relay for running everything else. So a small business is more than a job, it's part of your legacy. With the right banking set up, you'll have the tools to protect that legacy, grow your business and simplify your financial management. So take a look. Start exploring what Relay can do for your small business today. It's the perfect fit for businesses that value control, flexibility, forward thinking and approach to financial success. Let me know if you'd like to open an account. I'll be happy to invite you in and give you kind of a background on how you can use it for your success.
