Who holds your money at Rho.
Rho deposits are held at Webster Bank, N.A. — an $85.5 billion national bank founded in 1935 (FDIC call report, 3/31/2026). Checking deposits are FDIC-insured up to $250,000 at Webster, and Rho savings are eligible for up to $75 million in FDIC insurance through a sweep network of 400+ FDIC-insured banks. Rho is a fintech company, not a bank — and unlike most fintechs, the bank behind it is one of the largest in the country.
The bank behind Rho
Most business fintechs are built on small partner banks. Rho is built on Webster Bank, N.A.: $85.5 billion in assets, a national charter, and nearly a century of operating history. That's roughly ten times the size of the next-largest deposit partner bank behind any major US business-banking fintech (Cross River Bank, $8.7B; FDIC, 3/31/2026) — and many times larger than most.
Where deposits actually sit
Deposit-holding partner banks across major business banking platforms.
| Platform | Deposits held at | Bank assets (FDIC call reports, 3/31/2026) |
Rho | Webster Bank, N.A. | $85.5B |
Mercury | Choice Financial Group and Column N.A. | $6.1B / $1.4B |
Brex (a Capital One company) | Column N.A. | $1.4B |
Ramp | First Internet Bank of Indiana | $5.7B |
Bluevine | Coastal Community Bank | $5.7B |
| Deposits held at | Bank assets (FDIC call reports, 3/31/2026) |
Rho | |
Webster Bank, N.A. | $85.5B |
Mercury | |
Choice Financial Group and Column N.A. | $6.1B / $1.4B |
Brex (a Capital One company) | |
Column N.A. | $1.4B |
Ramp | |
First Internet Bank of Indiana | $5.7B |
Bluevine | |
Coastal Community Bank | $5.7B |
Figures verified as of 08/02/2026. Sources: FDIC BankFind call reports (data as of 3/31/2026) and each provider's public disclosures. Brex was acquired by Capital One (completed April 2026); its deposit partner remains Column N.A. Coverage structures and sweep programs vary by provider — see each provider for current terms. 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 Treasury and custodial services provided through Apex Clearing Corp. and Interactive Brokers LLC, registered broker-dealers, Members FINRA/SIPC; Rho Treasury is not insured by the FDIC.
How the $75M in FDIC coverage actually works
Precision matters here, so here's exactly how it works:
Checking: FDIC-insured up to $250,000 at Webster Bank, N.A.
Savings: eligible for up to $75 million in FDIC insurance. Your balance is swept across a network of 400+ FDIC-insured banks, so coverage applies at each receiving institution and no single slice exceeds the $250,000 per-bank insured limit — diversification is built into the structure.
Rho Treasury: invests in securities (T-Bills and money market funds). It is SIPC-protected, not FDIC-insured — that's the nature of investments, and we say so plainly.
After SVB, the smart move is diversification. Rho agrees.
Founders learned in 2023 not to keep everything at one bank — often because their board insisted. Rho's savings structure was built for exactly that instinct: a single account whose deposits are automatically spread across hundreds of insured institutions. You get the diversification your investors want, without managing twelve bank logins.
"I just didn't want all our money in one place. That's pretty much it."
— a YC-backed founder, after SVB
FAQs
General
No. Rho is a financial technology company, not a bank. Banking services are provided by Webster Bank, N.A., Member FDIC.
Checking deposits are held at Webster Bank, N.A. Savings deposits are swept across a network of 400+ FDIC-insured banks, so FDIC coverage applies at each receiving institution.
No — checking is FDIC-insured up to $250,000 at Webster Bank, N.A. The up-to-$75 million coverage applies to Rho savings via the sweep network of 400+ FDIC-insured banks.
No. Rho Treasury holds securities (T-Bills and money market funds) and is SIPC-protected through registered broker-dealers. FDIC insurance covers bank deposits, not investments.
Your deposits are held at Webster Bank, N.A. and the program banks in the sweep network — not on Rho's balance sheet. They remain yours, insured per FDIC rules at the institutions holding them.
Built for stability.
Backed by real protection.
