Community Banks Direct Deposit FDIC 
PYMNTS
APRIL 24, 2019
In addition, Wealthfront works with FDIC-insured partner banks — including East West Bank , New York Community Bank and others — to hold customers’ deposits. Since the firm partners with multiple banks, the deposits are insured up to $1 million. It now manages $13.5
PYMNTS
MAY 27, 2020
The great shift has also opened up the playing field for challenger banks, relying on digital-only platforms upon which to build client relationships. HMBradley launched high yield savings accounts and direct deposits at the end of March. If you talk to a consumer, most of them want to make money on their money.”.
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