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Calling this banking is incredibly misleading as it is not FDIC insured. Not a bank.
by TylerE 10mo ago
Calling this banking is incredibly misleading as it is not FDIC insured. Not a bank.
- wmf 10mo ago"Access $5M FDIC insurance or more"
- TylerE 10mo agoOnly with multiple caveats. The first line on the page is "Mercury is a fintech company, not an FDIC-insured bank.".
- wmf 10mo agoUltimately the money is stored in actual banks. We're stuck with "fintechs" because banks seemingly can't/won't modernize and the government won't allow new banks to be created.
- SvenL 10mo agoAt least I know that bunq, an European „NeoBank“, applied for an FDIC license in the US and received one. It’s offers a lot of cool features and an API.