Consumer complaint received 2025-06-21 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: Relay Financial (US), Corp.
State: GA

Complaint narrative:
Summary of Complaint : Relay Financial ( RelayFi ) XXXX XXXX XXXX Type of account : Business checking Account opened : XX/XX/year> Total funds held : ~ {$50000.00} Nature of complaint : Unreasonable fund withholding, non-communication, process delays, and possible financial misconduct Timeline of Events : XXXX XXXX XXXX XXXX Investor funds were deposited into my business account with RelayFi. Smaller transactions, including off-ramps to crypto exchanges and a sub- {$5000.00} wire, went through without issue. 

XX/XX/year> : I attempted to wire funds internationally to purchase equipment. I was told the wire would take XXXX weeks to process, so I canceled it. 

XX/XX/year> : I initiated a {$40000.00} domestic wire to a XXXX entity for the same purpose. This triggered an XXXXcompliance review , and my account was effectively frozen without notice. 

XX/XX/XXXX XX/XX/year> : I was not contacted for documentation, nor given access to speak with the compliance team despite repeated requests. RelayFi support repeatedly responded with vague statements : Compliance is working on it. 

XX/XX/year> : {$15000.00} was returned to XXXX of my investors without my knowledge or approval. I was never notifiedonly informed after my investors bank contacted them about the reversal. 

XX/XX/year> : I was notified the account was being closed. Relay stated that, if there are funds remaining, a check would be mailed to the business address in XXXX business days. 

XX/XX/year> : I requested a check be mailed within XXXX days. Relay responded saying they need to hold the funds for XXXX. This was never disclosed in earlier communications. 

XXXX XXXX XXXX XXXX After leaving a poor customer survey, Relay 's support team acknowledged multiple process failures, including lack of transparency, communication, and escalation paths. However, no corrective action was taken. 

XX/XX/year> : I requested the funds again, since it's now XXXX days since the funds were frozen. I was told funds would now be held for XXXX from the time the account was closed- until XX/XX/scrub>XXXX XXXX XXXX XXXX XXXX XXXX days after the wire that triggered the freeze and XXXX days after the account was closed, with no legal basis or documentation requested during this period. 

Key Issues : - No documentation was ever requested from me - No justification has been provided for the extended XXXX day hold - No reason for the continued stall tactics that are anti-business practices - No access to compliance or appeal process was offered - {$15000.00} was returned to a third party without notification - Inconsistent and contradictory communication throughout Business Impact : - RelayFis actions have caused material harm to my business : - I was unable to pay vendors or purchase critical equipment - Investor trust has been compromised - Growth and operations have been stalled Major banks like XXXX XXXX XXXX XXXX resolve compliance flags within a day Relays arbitrary XXXX freeze without any transparency or recourse is, in my view, a stall tactic or operational failure, not a legitimate compliance process.

Company response to consumer: Closed with explanation