PYMNTS
JULY 22, 2020
Brex , the San Francisco financial technology startup, is offering FDIC insurance on its no-fee cash management account, the company announced Wednesday (July 22). The new feature in Brex Cash allows customers the choice to hold cash savings with FDIC insurance, or invest in Money Market Funds.
Payments Source
FEBRUARY 19, 2021
Brex currently relies on bank partners to offer credit cards and cash management accounts to small and midsize businesses. It is looking to charter its own FDIC-insured institution to be a direct provider.
CB Insights
AUGUST 3, 2021
California-based Mercury is an online banking platform that offers a suite of financial services such as FDIC-insured bank accounts, physical and virtual cards, and cash management for startups, e-commerce stores, and angel investors, among others. HOW’S THE COMPANY PERFORMING?
PYMNTS
DECEMBER 16, 2018
That marketing material was removed from the page over the weekend, as were tweets promoting it at the launch — the FinTech is now calling the offering a cash management service, reported Bloomberg. Robinhood’s new products aren’t insured by the FDIC but do have the protection of the Securities Investor Protection Corp.
PYMNTS
DECEMBER 12, 2019
Online brokerage startup Robinhood has introduced a cash management service that will give customers 1.8 Silicon Valley’s Robinhood is known for making free stock trading accessible, and has spent the last year figuring out the best way to offer cash management services.
PYMNTS
FEBRUARY 7, 2020
Late last year , Robinhood began offering a cash management service. The Robinhood cash management feature is offered in partnership with a bank, and includes debit cards, and, critically, deposits backed by the Federal Deposit Insurance Corporation (FDIC).
PYMNTS
OCTOBER 8, 2019
Stock trading app Robinhood , which offers no-fee trading, is re-launching a checking feature called Cash Management after it was previously shelved due to regulatory issues. Investors’ money will be covered by the Federal Deposit Insurance Corporation (FDIC) up to $1.25 As reported on Tuesday (Oct.
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