Earn 3.5% annual yield on your idle money with our cash account.
Get $3M in FDIC insurance with our partner banks.
Move cash fast with same-day transfers at no fee.
Our platform offers FDIC Insurance up to $3,000,000 per depositor through our partnership with a network of unaffiliated banks, ensuring your funds are spread out for maximum protection. You can see all of our partner banks at this website.
Our rate moves when the federal funds rate moves. When the Fed raises interest rates, we raise ours. And when the Fed lowers rates, we’re required to lower ours.
We do not charge customers any fees for placing money with us or transferring funds.
No. We are a technology company that offers access to risk management products like additional FDIC Insurance and yield from our partners. You still need a primary banking partner for operating banking like debit cards, merchant processing, etc. We keep your idle cash at a distance from your banking operations to mitigate financial partner risk.
No. Your money always stays in USD at a bank. Banks are provided yield by the Federal Reserve for their deposits. We provide most of that yield to you and deposit it into your account on the 15th of each month.
Wire transfers generally gets processed the same day the wire goes out, usually within a few hours.
Our Same Day ACH transactions are received in the afternoon or evening instead of the following morning with limits up to $1M.
While these can offer a higher rate of return, they don’t have the same speed of transferring funds out. Many solutions require 3-5 days to move assets out of these structures our funds can be transferred Same-Day.
Our founder Jason Garcia spent the first half of his career in banking at Goldman Sachs and as a Senior Vice President at SVB. Later on, he became the Head of Business Development at Divvy (sold to Bill.com for $2.5B) and the VP of Capital at Mercury. The rest of the team hails from companies like Wex Bank, and Clearco.