Relay vs Bank Zero.
Relay (R71/100) and Bank Zero (B50/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Relay leads Bank Zero 5-0.
| B Bank Zero №75 · SARB 50 /100 | R Relay №31 · FDIC 71 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 50 /100 | 71 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 2.00% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Payment inst. SARB | Partner-bank FDIC |
| Deposit guarantee Per depositor | Safeguarded ZA.CODI | $250,000 US.FDIC |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | No |
| UX | ||
| Trustpilot Customer score | — | — |
| App store iOS + Android avg | 4.5 ★ iOS 4.5 · And 4.4 | 4.7 ★ iOS 4.8 · And 4.6 |
| Read review → | Read review → | |
Pick Bank Zero if…
South Africa's first fully-digital mutual bank — SARB-licensed since 2018, operationally live since 2021. Founded by ex-FNB executives (Yatin Narsai, Michael Jordaan). Owner-operator model: no shareholders, profits flow back to depositors via lower fees and competitive sub-account interest. The fee-free counterpart to Discovery Bank's premium tier-based model.
Pick Relay if…
The Profit-First-aligned multi-checking neobank — 20 real checking accounts (not virtual envelopes) and 50 debit cards under one login, with granular multi-user roles. Where Mercury / Bluevine / Novo all give you one operating account plus virtual sub-pockets, Relay gives you 20 separately-FDIC-mapped checking accounts that auto-transfer between each other on percentage- or amount-based rules. That is the structural fit for Mike Michalowicz's Profit First method (Income / Profit / Owner's Pay / Tax / OpEx envelopes), and Relay has been the official Profit First banking platform since 2023. Sponsor bank is Thread Bank (TN-chartered) with a $3M sweep — Thread's May 2024 FDIC consent order was terminated December 2025 with no customer-funds incident at Relay.
- Best for fees Relay won 1 of 4
- Best for protection Relay won 2 of 2
- Best for reach Tied
- Best for ux Relay won 1 of 2
Relay vs Bank Zero — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Bank Zero better than Relay?
Under our v3 methodology, Relay leads Bank Zero 5–0 across 12 dimensions. Composite scores: Bank Zero 50/100 vs Relay 71/100. Relay is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Bank Zero or Relay cheaper?
Monthly fee — Bank Zero: €0; Relay: €0. Card FX markup — Bank Zero: 2.00%; Relay: Interbank. Relay wins more fee rows (1 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Bank Zero or Relay?
Bank Zero holds a Payment inst. licence under SARB; deposit guarantee per depositor: Safeguarded. Relay holds a Partner-bank licence under FDIC; deposit guarantee per depositor: $250,000. Relay is the stronger pick on regulatory protection.
Where can I use Bank Zero and Relay?
Bank Zero operates in 1 country; Relay operates in 1 country. Check each provider's signup page for the live country list — eligibility depends on residency, not just the licence footprint.
Want a 3- or 4-way comparison?
The dynamic compare picker handles up to four banks. Add this pair plus one or two more and we'll resolve every row.