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What changed?
Updated over a week ago

Below is an overview of the changes associated with the Platform Update:

1. Transition to Cash Management Accounts: As of October 17, 2023, we have transitioned from checking accounts to cash management accounts. In connection with this transition, a brokerage account at Synapse Brokerage LLC is established on your behalf. Funds in your checking account have been transferred to your brokerage account and into the cash management program. Until further notice, you will continue to fully use your checking account as necessary to use the various ancillary services.

2. Program Banks: Your funds are held with trusted program banks, including Lineage Bank, AMG National Trust, American Bank, Third Coast Bank, Western Alliance Bank, Webster Bank, Old National Bank, ServisFirst Bank, NewBank, and Customers Bank.

3. Your Current Account Number and Cards: Your account number and debit cards will remain unchanged. There are no changes to your use of your debit cards at this time. Although we plan to migrate to a new routing number in the future, this change is not part of the current transition. We will let you know well in advance when this change is scheduled.

4. Transition Timeline: This transition will occur over the next several months, will be seamless, will come at no additional fee, and will not require any action on your part unless you wish to opt-out. In any event, you will receive regular updates from us as we progress through the process.

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