AI-assisted source summary. Read the scope and exceptions, then follow the original documents below.
Applies to
United States · nonbank apps placing customer funds at banks
Time context
Public guidance checked October 20, 2026
Sources checked
This does not assess any named app or determine an individual claim. Pass-through coverage depends on the actual arrangement and required records.
The app is not the insured bank
FDIC says nonbank companies themselves are never FDIC-insured. Sending money to one does not immediately create insured deposits: funds must reach an insured bank and other conditions must be met.
Pass-through insurance relies on the underlying ownership arrangement and records. It is not a separate insurance ownership category, and a dashboard balance alone does not establish eligibility.
Our checklist: obtain the partner bank's name, account terms and withdrawal route. FDIC explicitly excludes a nonbank company's insolvency from deposit-insurance protection; access can be delayed even where money may ultimately be recovered.
Original documents used for this summary. Multiple links from one publisher are not independent corroboration. Policies can change after the check date.
AI-assisted research, writing and translation by No Secrets, using the linked public documents. This is a source summary, not firsthand reporting or an independently audited investigation. No affiliate links are used in this article.
The date above records this research pass, not the date of every underlying event. The English and Chinese versions are AI-assisted summaries; the linked original controls if they differ.