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Frequently Asked Questions


For over 15 years, institutional clients have relied on our network of 400 FDIC member banks to maximize their FDIC deposit insurance coverage and enhance their yield, all while assuming little risk. With our Fortress Account, FDIConnect brings that peace of mind to the consumer banking market by offering 100% FDIC insurance coverage for balances over $250,000, while paying a yield that’s 10x the national money market average. We offer 24/7 access to your account, daily liquidity, and zero-fee deposits and withdrawals.

FDIConnect offers one product, the Fortress Account. That makes us good at what we do….connecting our clients with the safest banks that will pay the highest rates for their FDIC-insured deposit accounts.

Please note that we are not affiliated, associated, authorized, endorsed by, or in any way officially connected with the FDIC, or any of its subsidiaries or its affiliates. The official FDIC website can be found at

We rest easier knowing that the FDIC has ensured continued access to your insured account balances, whenever the need has arisen, since its founding in 1933. We want to bring that peace of mind to your financial plans and objectives.

All funds placed through us are deposited directly to our custodian, Wells Fargo Bank, N.A., from your control account at your current banking institution. Wells Fargo has been providing custody and safekeeping products and services for over 160 years and is the world’s second-largest bank in terms of market capitalization, and the third-largest bank in the US in terms of total assets. Wells Fargo then deposits your money only with FDIC-insured banks, some of which have been part of our network for 15 years. Our network currently manages over $1.7 billion in bank deposits at these 400 FDIC-insured national banking and savings institutions. When you request your money to be transferred back to you, Wells Fargo retrieves your funds from the network bank and deposits them directly into your main control account, the one from which you initially wired your funds.

Absolutely. Always. Just call us and let’s talk. We’re here for you. Just call us at 833-334-2467 (833-FDIC INS) or visit our contact us page for our email or postal mail addresses.

This is the big question we always receive. To answer this question, you have to understand a few things… First, banks collect deposits from customers so they can lend that money back out to other customers, through mortgages, credit cards, personal loans, etc. Since the financial crisis of 2008, the share of deposits held by the nation’s three largest banks has grown from 20% in 2007 to 32% at the end of 2017, according to the Wall Street Journal. That’s $3,8 trillion in deposits. The big banks haven’t been able to lend all that money out; so, they don’t need more deposits. This is why they pay a mere 0.08%, 1/20 of what we pay. If they wanted additional deposits, they’d raise their interest rates. But they haven’t…even after several Fed rate hikes, they have offered no increase in yield to you. But, there are hundreds of well-capitalized, FDIC-member banks across the country that DO want your deposits, and they’re willing to pay a reasonable yield for them. Simply put, if they borrow from you at 1.25%, and lend out on a mortgage at 4.25%, that’s a 3% profit to them on your money. Not bad, huh? So why don’t the big banks offer something like the Fortress Account? Because they don’t have to. They receive plenty of deposits paying at 0.08%. And until they need more deposits, they’re not going to raise their rates.


The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by Congress to maintain stability and public confidence in the nation's financial system by:
  • Insuring deposits
  • Examining and supervising financial institutions for their safety and soundness as well as to help ensure consumer protection
  • Examining banks for compliance with consumer protection laws

Please note that we are not affiliated, associated, authorized, endorsed by, or in any way officially connected with the FDIC, or any of its subsidiaries or its affiliates. The official FDIC website can be found at

The limit on the standard deposit insurance provided by the FDIC is $250,000 per depositor, per FDIC-insured bank, per covered ownership category. For more information, please see the FDIC’s FAQ page.

Yes. Depositors have been able to obtain deposit insurance coverage exceeding the standard single-bank insurance amount (currently $250,000) since the FDIC was founded more than 80 years ago. The FDIC is aware of the practice and referenced it recently in a November 2015 FAQ Document (see page 5). So, it’s not only legal to split your funds across multiple FDIC-insured accounts; it’s prudent.

The Federal Deposit Insurance Corporation (FDIC) preserves and promotes public confidence in the US financial system by insuring deposits in banks and thrift institutions for up to $250,000 per depositor, per FDIC-insured bank, per covered ownership category. The FDIC does this by identifying, monitoring and addressing risks to the deposit insurance funds; thereby limiting the effect on the economy and the financial system when a bank or thrift institution fails.

An independent agency of the federal government, the FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s. Since the start of FDIC insurance on January 1, 1934, no depositor has lost a single cent of insured funds as a result of a failure.

Account Opening

You can open one account for every unique tax ID you have.

In designing our Fortress Account to offer FDIC insurance up to $50 million and yields that are 10x the national money market yield, we have had to limit our relationships to our network of 400 of the nation’s top-yielding banks. If you need an account to hold funds exceeding our $50 million limit, please contact us and we can discuss customizing our product for your specific situation.

The safety of your funds is our main priority. From the moment you wire your funds to us, no one can access those funds other than the custodial bank and the network bank. FDIConnect does not handle your funds and does not have the ability to move your funds without first receiving a request from you.

Only you, the client, can request to move your funds and these funds can only be moved between our custodian bank, Wells Fargo Bank, and your control account, which you used to initially transfer money into your Fortress Account. For the life of your Fortress Account, you’ll have just one account with us that’s linked to your control account. We like to keep things simple and clean.

FDIConnect harnesses the power of negotiation. While a single depositor has the negotiating power that $250,000 brings to a single bank, we harness the negotiating power of multiple $250,000 accounts, and we make our network of over 400 banks compete for your funds by offering the highest yields possible. That’s how we beat the national average money market yield 10x over. That’s how we get the highest, fully-insured rates for your funds.

FDIConnect also offers you the convenience of one account with a single point of contact, a single stream of reporting, and one 1099 form at the end of the year. While you could go out and open multiple sub-$250,000 FDIC-insured deposit accounts on your own, FDIConnect already offers you FDIC coverage up to $50 million with an attractive yield and easy administration of your funds.

Account Information

Using security measures that comply with federal law like computer safeguards, secured files and physical access controls, we will protect your personal information from unauthorized use and access. We also promise that your information will never go further than our custodian, Wells Fargo, whose consumer privacy policies and notices can be read here. We do not share your information with our network banks. At our network banks, your cash is held in the name of Wells Fargo, our custodian.

FDIConnect serves US-based consumers, corporations, and non-profits who are looking to extend the peace of mind offered by FDIC deposit insurance past the standard deposit insurance coverage limit of $250,000. Whether you are looking for a low-risk, high-yield account to hold your recent lottery winnings, a new inheritance, or to hold an amount you’ve worked hard to accumulate over the years, we’re here for you.

We require the basic information needed to open and operate your account and to produce your 1099 form. This includes your name, postal address, email address, telephone number, date of birth, and Social Security number.

Account Operation

Yes. You can authorize access for a third party of your choice, including your CPA or other trusted advisor.

Your funds will be handled in the same way as your other assets, and would depend on the plan you have set up beforehand.

No. We want you to keep your existing checking account. If you need money, just tell us. We’ll put the specified amount of money in your control account the following day, free of charge.

You can request to withdraw funds at any time and receive those funds on the very next business day.

Interest is accrued daily and paid out monthly.

All orders need to be placed by 2:00PM EST for settlement the next business day.

Not a single dollar has been lost in the 15 years that our network has been managing bank deposits for our clients. Even during the financial crisis of 2008, not one of our banks lost a single dollar.

No. As a matter of fact, we want you to keep your favorite bank, which we call your control bank. We will even put this bank on our exception list so that we don’t give them additional funds from you. This will help ensure that you don’t exceed your FDIC coverage limit at this bank.

Yes, you have full control to exclude the banks you don’t want to do business with, for any reason. When you open your account, we will ask you to create an exclusion list so your funds will not be deposited into these banks.

Using our online portal, you have full control. Just enter a request online, and you’ll have your funds the next day.

We have known many of the banks in our network for over 15 years. We not only use those relationships to find the safest, most competitive banks for your funds; we also use those relationships to negotiate the best rates. We network with the banks who most want your deposits, securing FDIC insurance for you at competitive rates, all with the convenience of a single account. We don’t offer loans; so, we don’t have to fund loan losses. We don’t have buildings and mortgage payments to make. We negotiate the best rates and pass those yields on to you.

Got More Questions? Email Us!

About Us

FDIConnect is a consumer-focused provider of FDIC pass-through insurance for bank deposits.  Through the Fortress Account, clients have access to our network of 400 of the highest yielding FDIC member banks in the nation.  This access allows our clients the peace and mind of insuring their entire cash balance (up to $50 million per account) while receiving 10x the average money market rate. 

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Our Contacts

5000 Birch St., West Tower, Suite 3000 Newport Beach, CA 92660

833-334-2467 (833-FDIC INS)