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It's not FDIC covered during the transitional period, and they don't say how long the transitional period is either.
by tdhoot 7y ago
It's not FDIC covered during the transitional period, and they don't say how long the transitional period is either.
- jakelazaroff 7y agoWhat is the transitional period? Is it that when you make a deposit, you're actually transferring to Wealthfront, which distributes it to the real bank accounts they keep your money in?
- tdhoot 7y agoYes, that's my understanding. But there's no guarantee that Wealthfront transfers to the FDIC-insured bank accounts as soon as possible. For all we know, Wealthfront could hold on to it for weeks.