At bookskeep, we’re always on the lookout for tools and services that make financial management easier and more efficient for ecommerce businesses. Relay Financial, a trusted partner of ours for years now, recently introduced a new feature that we’re excited about: third-party check support.
As a company that uses Relay for our own banking needs, we’re excited to share how this new feature can enhance your financial operations. Here’s what you need to know about this feature and why we recommend Relay to all our clients looking for ecommerce banking solutions.
What Is Third-Party Check Support?
Relay’s third-party check support allows businesses to issue checks directly from their Relay account using their account and routing numbers. This means you can centralize all your financial transactions in one secure platform, whether you’re using digital payments or checks.
How to Get Started
Setting up third-party check support with Relay is straightforward. Here are the key steps:
1. Designate a Check-Writing Account: Select a specific Relay checking account for issuing checks.
2. Order Checkbooks: While Relay doesn’t provide physical checkbooks, you can order them from a trusted vendor and include your Relay account details.
3. Assign Check Admins: If your team includes multiple stakeholders, you can assign admins to oversee check transactions. This ensures an added layer of accountability and oversight.
4. Set Approval Thresholds: Relay allows you to customize the approval amount for checks. By default, transactions over $2,000 require admin approval, but you can adjust this threshold to meet your business needs.
If you’re ready to start using this feature, you can find a detailed guide here.
Why It’s Ideal for Ecommerce Businesses
At bookskeep, we know that ecommerce businesses often juggle unique financial demands. While most transactions are handled digitally, certain vendors, services, or situations still call for checks. Relay’s third-party check feature provides:
- Seamless Integration: Manage all financial activities, including check transactions, through Relay for a clear, centralized financial overview.
- Enhanced Security: Approval thresholds and admin oversight help prevent unauthorized transactions, giving you peace of mind.
- Flexibility: Whether it’s a one-off vendor payment or an occasional need, having a secure and easy way to issue checks is invaluable.
Our Experience with Relay
As both a Relay partner and user, bookskeep has experienced firsthand how Relay’s features streamline financial management. The platform’s tools, including third-party check support, simplify bookkeeping and enhance security, which is vital for our clients and our own business.
At bookskeep, we’re committed to helping you simplify your financial processes so you can focus on growing your ecommerce business. If you’re curious about how Relay or our trusted programs can support your financial goals, reach out to us. We’re here to help!
Schedule a free consultation with our team today to learn how we can support your exit planning journey. Contact us to get started!
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