End-Customer FAQs

FAQs

Is my money safe and FDIC-insured?

Yes! Your deposits and funds are safe. Your account is insured up to the standard maximum deposit insurance amount of $250,000 through our banking partner which is FDIC insured.

What does it mean that “Client is a financial technology company, not a bank”?

We are a technology company and not a financial institution or a bank. We partner with a bank to offer deposit accounts, debit cards, and other banking services to our customers. 

Is your bank partner safe? Did they make any of the same long-term investments that caused losses for SVB?

Yes! Our partner bank is safe. Our partner bank is well-diversified, with deposits across different industries, strong balance sheet, and access to liquidity. Your deposits are also insured up to the standard maximum amount of $250,000 through our banking partner who is FDIC insured. 

What capacity does Client (and its partner banks) have for new deposits?

We and our banking partner are ready and have the capacity for additional new deposit growth. 

Is there a way for me to increase my FDIC insurance level?

Your account is currently insured up to the standard maximum amount of $250,000 through our banking partner who is FDIC insured. We are currently evaluating working with our banking partner and a sweep network to increase this coverage and provide our customers with up to $2 million+ in FDIC insurance coverage.