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Relay Key Terms and Features


Let’s define some of the key terms and features to better understand the Relay value proposition.

  • Lump Sum: To open a Planned-Spend Account, you will need to provide a “lump sum” - a one-time upfront initial payment. For example, you could open a 3-year, $200/month Planned-Spend Account with a $7,096.54 lump sum.
  • Monthly Payout: The funds generated by the Planned-Spend Account and subsequently loaded each month onto a customer’s Relay Card. In the example immediately above, a monthly payout of $200 would be loaded onto your Relay Card each month for three years.
  • Plan: The duration of the Planned-Spend Account, in years. We currently offer plans with 3, 4, 5, 6, and 7-year terms.
  • Interest rate: The rate earned on the cash balance of a Planned-Spend Account, which currently ranges from 1.00%-1.25% APY, depending on the term you select.
  • Cashback rate: The cashback percentage you earn when you spend the monthly payouts loaded onto your Relay Card. Your cashback rate is determined by the specific Planned-Spend Account you choose at enrollment. For example, if you choose a 3-year plan, your cashback rate will be 3%. Your specific cashback rate schedule will be documented and provided to you when you open a Planned-Spend Account.
  • Relay Visa® Prepaid Card (“Relay Card”): When you open a Planned-Spend Account, you will also open a Relay Card account. Your Relay Card is what you use to spend your monthly payouts and earn your cashback rewards. Please refer to the Cardholder Agreement for more information regarding the terms and usage of your Relay Card.
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