Skip to main content

Slash Announces Enhanced Deposit Protection for Slash Platinum ๐Ÿš€

M
Written by Mohamed Badran
Updated over 8 months ago

Slash, the one-stop digital banking platform specifically designed for small and medium businesses, is announcing that it enabled access to expanded FDIC insurance coverage of up to $200 million for customers with deposit accounts at their partner bank Column N.A., Member FDIC.*

How enhanced FDIC coverage works

Our partner bank Column N.A., Member FDIC partners with IntraFi Cash Service (ICS) of IntraFi Network LLC โ€” a sweep deposit network โ€” to spread your deposits across their network of 800 banks (list here).

Even though your deposits may be spread across a network of up to 800 banks, the Slash dashboard experience remains the same and you can enjoy daily liquidity.

Existing Slash customers must agree to Columnโ€™s Sweep Agreement to unlock enhanced FDIC insurance.

About Slash

Slash provides a one-stop digital banking platform specifically designed for small and medium sized businesses. Since launching in 2021, Slashโ€™s innovative and intuitive products, including business checking, virtual cards, and accounts payable, have helped over 20,000 business owners save time and money so they can focus on what matters most: growing their business.

Slash is backed by leading private and institutional investors, including Stanford University, New Enterprise Associates, Menlo Ventures, Y Combinator, Connect Ventures, Soma Capital, and the founders of Tinder and Plaid. Slash is a financial technology company, not a bank.

Slash Platinum deposit accounts and banking services are provided by Column N.A.

* Terms and conditions apply. Please refer to your agreements with Column for more details.

Did this answer your question?