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your cash will be FDIC insured through their partners This is not something I'm willing to take their word for without seeing a copy of a legal opinion from so
by dfranke 16y ago
your cash will be FDIC insured through their partners
This is not something I'm willing to take their word for without seeing a copy of a legal opinion from someone independent. I don't want to find out after they go under that they've simply been depositing their reserves in an FDIC-insured account with another bank, and that as long as that partner bank stays afloat the FDIC won't pay out.
- ryanhuff 16y agoIs it clear that they are actually going to be a real bank? That bit about FDIC insured through their partners implies that they are more of a marketing driven company that off-loads the actual banking business to real banks providing white-labeled services.