Is Mercury FDIC insured?

Yes, but with an important distinction. Mercury is not a bank — it is a financial technology company, and deposits are held at its partner banks. Those deposits are FDIC insured up to the standard $250,000 limit per depositor, per insured bank, per ownership category. Mercury extends coverage beyond that limit by sweeping balances across a network of partner banks rather than by offering more insurance on a single account.

Is Brex FDIC insured?

Brex Business Accounts are not themselves bank accounts. Brex Cash balances are held in accounts at partner banks and in money market funds, and the treatment of each differs. Balances held at partner banks carry standard FDIC coverage of $250,000 per bank; money market fund balances are not FDIC insured, though they carry their own risk profile. Check your current account disclosures, since the mix can change.

How much FDIC insurance can a business actually get?

The $250,000 limit applies per depositor, per insured bank, per ownership category — not per account. A business with balances at one bank is covered to $250,000 regardless of how many accounts it opens there. Coverage scales by spreading deposits across multiple insured institutions, which is exactly what a sweep network automates.

What is a sweep account and how does it extend coverage?

A sweep account automatically distributes your balance across a network of partner banks, keeping the amount at each bank under the $250,000 threshold. If you hold $2 million and the network spreads it across ten banks at $200,000 each, the full balance sits within FDIC limits. The coverage is real, but it depends on the network having enough participating banks and on your balance actually being swept rather than sitting in a single account.

How do I verify my current FDIC coverage?

Three steps. Read your provider's deposit sweep disclosure to see which partner banks hold your money and in what proportion. Check whether you already hold deposits directly at any of those same banks, since your own accounts and the swept balance share the $250,000 limit at each institution. Then confirm each bank's status in the FDIC BankFind directory.

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Ruben Izmailyan

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Ruben Izmailyan

Co-Founder, CEO

Building a Transaction List with Quiltt's GraphQL API

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Building a Simple Transaction List with Quiltt's GraphQL API

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Setting Up Your Account with Quiltt Connector

Begin by integrating your financial accounts, such as a checking account, with Quiltt using the Quiltt Connector. This step links your account data with Quiltt's platform.

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Exploring Data with the GraphQL Query

Navigate to the GraphQL Explorer, a powerful tool within Quiltt that allows you to craft and customize your data queries. Start with a basic query to fetch information about your connected accounts and their respective transactions.

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Enriching Your Query with Transaction Details

Next, you can expand the query to include transaction details. In the 'Accounts' section of the query, add elements such as transaction dates, amounts, descriptions, and statuses. This expansion is where your query begins to take shape, transforming raw data into a structured and meaningful list.

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Executing the Query and Viewing Results

Execute your enriched query by hitting the 'Play' button. The results is a list of transactions from your account, each entry complete with the specified details you needed.

Frequently Asked Questions

What platforms and technologies does Quiltt support?

Our unified API is platform-agnostic, allowing you to integrate with Quiltt using your preferred technology stack.

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Quiltt provides SDKs for web (HTML/JavaScript, React), mobile (React Native, Flutter, iOS, Android), and server-side integration.

Do I need my own API keys from the data providers?

No, you don't need to obtain your own API keys. Quiltt securely manages the necessary API keys and credentials on your behalf, simplifying the integration process. However, if you already have your own API keys, you can easily configure Quiltt to use them instead.

Can I bring my own keys?

Absolutely. Quiltt fully supports customers bringing their own keys.

Learn more with our resources

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Single-aggregator feels like the obvious starting point. The docs are clean, the integration is fast, and coverage looks solid until your first users try to link a bank you can't reach. It turns out that multi-aggregator orchestration should be a day-one decision. Here's what it actually takes to get your data architecture right without staffing an entire infrastructure team.

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Unify Your Fintech Stack

Building a Transaction List with Quiltt's GraphQL API

Building a Simple Transaction List with Quiltt's GraphQL API

Frequently Asked Questions

What platforms and technologies does Quiltt support?

Do I need my own API keys from the data providers?

Can I bring my own keys?

Learn more with our resources

Your bank connection failed. Switching aggregators may not fix it.

The Model Is the Commodity. The Pipe Isn't.

Why Top Personal Finance Apps Made This Infra Choice

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