How Rho's Business Savings Account works

Get up to $75M in FDIC deposit insurance in seconds.
Author
Justin Wolz
Updated
August 21, 2024
Read time
7

Spending made smarter

Eliminate annoying banking fees, earn yield on your cash, and operate more efficiently with Rho.

Rho is a fintech company, not a bank. Checking account and card services provided by Webster Bank, N.A., member FDIC; savings account services provided by American Deposit Management Co. and its partner banks.

We designed the Rho Business Savings Account to help companies ensure cash reserves are safeguarded and to generate market-competitive yield with current interest rate levels.

Individual business checking accounts are only FDIC deposit-insured up to $250K. Let’s say a company founder has $25M in deposits from a recent raise and wants to increase its FDIC protection to prevent liquidity issues. They would need to spend an impractical amount of time and energy opening 100 business checking accounts for all funds to be FDIC-deposit insured.

What's more, in high-interest rate environments, treasury management has become a focal point for companies looking to activate their cash reserves and extend their runway safely.

The Rho Savings Account is designed to help businesses accomplish both objectives.

How the Rho Business Savings Account Works

The Rho Business Savings Account is built on a network of over 400 FDIC-insured banks, allowing you to access up to $75M in FDIC deposit insurance per entity. This coverage saves you the hassle of opening multiple bank accounts to insure your funds. In addition, our Savings Account allows you to earn interest on your funds – giving you the peace of mind that your cash is protected and working for you.

Should you want to earn a higher yield, we offer Rho Treasury, a treasury offering that helps businesses with more than $1M in liquid assets invest in short-dated government securities that are held in your name at our partner clearing broker – all accessed from the same platform you use to manage your banking, expenses, and bill payments.

Open a Rho Savings Account today

After experiencing first-hand how difficult it was for businesses to access commercial-grade banking and treasury services, we built Rho to help companies safely and effectively manage their cash and ultimately scale growth.

For those needing the fast support and fund diversification that Rho’s Savings Account offers, get started with us today.

*Insured through the network of over 400 FDIC deposit-insured banks.

Related articles

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Experience better expense management, today.

*Rho is a fintech company, not a bank. Checking account and card services provided by Webster Bank, N.A., member FDIC; savings account services provided by American Deposit Management Co. and its partner banks.
Rho is a fintech company, not a bank or an FDIC-insured depository institution. Checking account and card services provided by Webster Bank, N.A., member FDIC; savings account services provided by American Deposit Management Co. and its partner banks. Mastercard® and the circles design are trademarks of Mastercard International Incorporated. International and foreign currency payments services provided by Wise US., Inc. FDIC deposit insurance coverage is available only to protect you against the failure of an FDIC-insured bank that holds your deposits and is subject to FDIC limitations and requirements. It does not protect you against the failure of Rho or other third party.
Images used are for illustrative purposes only.
All rights reserved. © 2019-2024 Under Technologies, Inc. dba Rho Technologies. Rho is a trademark of Under Technologies, Inc.