Memo Bank vs Relay.
Memo Bank (M72/100) and Relay (R71/100), 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 Memo Bank 4-3.
| M Memo Bank №31 · ACPR 72 /100 | R Relay №34 · FDIC 71 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 72 /100 | 71 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €449 /mo | €0 Free tier |
| FX markup Debit card abroad | 0.50% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Full bank ACPR | Partner-bank FDIC |
| Deposit guarantee Per depositor | €100,000 EU.DGS.FR | $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 | 4.6 ★ 0k reviews | — |
| 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 Memo Bank if…
The French mid-market SME bank that fills the structural gap between Qonto (freelancer-and-SME-led, ACPR credit institution) and chartered legacy banks (BNP Paribas Business, Société Générale Business). Full ACPR credit-institution licence with DGS protection. Mid-market SME tier (€1M-100M revenue) is the target audience; API-first treasury + Pennylane integration is the SMB-tech moat.
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 2 of 4
- Best for protection Tied
- Best for reach Tied
- Best for ux Tied
Memo Bank vs Relay — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Memo Bank better than Relay?
Under our v3 methodology, Relay leads Memo Bank 4–3 across 12 dimensions. Composite scores: Memo Bank 72/100 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 Memo Bank or Relay cheaper?
Monthly fee — Memo Bank: €449; Relay: €0. Card FX markup — Memo Bank: 0.50%; Relay: Interbank. Relay wins more fee rows (2 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Memo Bank or Relay?
Memo Bank holds a Full bank licence under ACPR; deposit guarantee per depositor: €100,000. Relay holds a Partner-bank licence under FDIC; deposit guarantee per depositor: $250,000. Both score equally on regulatory protection rows.
Where can I use Memo Bank and Relay?
Memo Bank 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.