Relay: who holds your money

Relay's disclosure, read on September 5, 2026, describes FDIC pass-through coverage, deposit insurance through partner banks. Coverage depends on customer identification and recordkeeping. It protects eligible deposits when a partner bank closes, not the app company itself. An app closure does not trigger that protection. The visible disclosure and notes provide the programme’s specific conditions.

Current commentary

Relay is not a chartered bank, and customer money sits at Thread Bank, which has letter B on this site. Federal deposit insurance passes through Relay at Thread Bank, provided Relay’s records identify each customer. Coverage is $250,000 per depositor, per insured bank, for each account ownership category. Relay’s disclosure was read on September 5, 2026.