Relay vs Holvi.
Relay (R68/100) and Holvi (H55/100), 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 Holvi 4-2.
| H Holvi №61 · Holvi Payment Services Oy is authorised and regulated by the Finnish Financial Supervisory Authority 55 /100 | R Relay №43 · FDIC 68 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 55 /100 | 68 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €9 /mo | €0 Free tier |
| FX markup Debit card abroad | 1.00% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | E-money inst. | Partner-bank FDIC |
| Deposit guarantee Per depositor | Safeguarded No DGS | Safeguarded No DGS |
| Reach | ||
| Markets served Licensed jurisdictions | 2 countries | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | No |
| UX | ||
| Trustpilot Customer score | 4.0 ★ 1k reviews | — |
| App store iOS + Android avg | 4.3 ★ iOS 4.5 · And 4.2 | 4.7 ★ iOS 4.8 · And 4.6 |
| Read review → | Read review → | |
Pick Holvi if…
The Finnish + German SMB neobank with the deepest tax-return-ready bookkeeping integration in the Nordic + DACH region. Procountor (FI Steuerberater equivalent) + DATEV / Lexoffice (DE Steuerberater standards) integration depth is the structural differentiator versus Qonto / Finom. EMI-licensed under FIN-FSA; one of the longest-operating EU SMB neobanks (founded 2011, briefly BBVA-owned 2016-2022, now independent).
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 Holvi won 1 of 3
- Best for ux Tied
Relay vs Holvi — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Holvi better than Relay?
Under our v3 methodology, Relay leads Holvi 4–2 across 12 dimensions. Composite scores: Holvi 55/100 vs Relay 68/100. Relay is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Holvi or Relay cheaper?
Monthly fee — Holvi: €9; Relay: €0. Card FX markup — Holvi: 1.00%; 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, Holvi or Relay?
Holvi holds a E-money inst. licence under Holvi Payment Services Oy is authorised and regulated by the Finnish Financial Supervisory Authority (FIN-FSA) as an Electronic Money Institution. Operating in Germany under EU PSD2 passporting. Customer funds are safeguarded under EMI rules — held in segregated accounts at credit institutions — and are NOT covered by the EU Deposit Guarantee Scheme (DGS, €100K ceiling) which applies to credit-institution licensees only. Holvi was acquired by BBVA in 2016 and operated as BBVA's Finnish SMB neobank arm until 2022, when it was sold back to independent ownership. Verified 2026-05.; deposit guarantee per depositor: Safeguarded. Relay holds a Partner-bank licence under FDIC; deposit guarantee per depositor: Safeguarded. Both score equally on regulatory protection rows.
Where can I use Holvi and Relay?
Holvi operates in 2 countries; 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.