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.

Back to Blogs

Unify Your Fintech Stack

Access best-in-class data providers through one seamless integration.

Start Building

Featured Releases

Quiltt Launches Remote Data

‍

We've got some exciting news at Quiltt. We're launching something pretty awesome: our new Remote Data feature. It's a big deal for us, and we think you're going to love it.

‍

What is Quiltt Remote Data?

Get ready to experience the power of simplicity in data handling with Quiltt's Remote Data! Our innovative abstraction layer effortlessly normalizes data from various providers into a single, streamlined format. This means you can create incredibly versatile applications, working smoothly with data from multiple sources or even being provider-neutral.

‍

One of the tricky aspects of abstraction layers is their tendency to hide important details. Imagine needing a rare transaction field from a specific provider that isn't in our standard model.

‍

This is where Quiltt’s Remote Data comes in!

‍

With Remote Data, you get access to this raw, untouched data as if you were connected directly to the source. It’s like having a backstage pass to every data provider you work with – nothing is hidden, everything is accessible. Welcome to a world of complete data transparency and endless possibilities!

‍

Integration Made Easy

We designed Remote Data to fit smoothly into your existing systems. It’s compatible with both GraphQL and REST APIs, ensuring you can integrate it the way you prefer. Whether you’re focused on enhancing your app's front-end experience or strengthening the back-end, Remote Data aligns with your needs.

‍

Remote Data isn’t just about solving current challenges; it’s about preparing for future innovation. It opens up new avenues for creativity and functionality in your app development. This feature empowers you to explore possibilities that were once limited by data compatibility issues.

‍

Our Pledge to You

At Quiltt, we believe in relentless innovation. Remote Data is a significant milestone in our journey, but it’s just the beginning. We're committed to continuously evolving our technology to meet and exceed the demands of the fintech industry.

‍

The launch of Remote Data was designed to simplify your work, spark innovation, and elevate the user experience. We invite you to leverage Remote Data to its fullest potential!

To learn more view our documentation -> Quiltt Remote Data Documentation

Frequently Asked Questions

What aggregators and enrichment providers does Quiltt support?

Quiltt partners with leading data aggregators and enrichment providers, including MX, Finicity, Akoya and more. You can choose one or multiple providers to optimize coverage and capabilities based on your specific needs.

What platforms and technologies does Quiltt support?

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

‍

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.

Learn more with our resources

Blog

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

Frontier AI models have converged. Two teams, same API, same compute. The only variable left is what data they feed it. This post makes the case that the real competitive moat in AI-powered financial services isn't the model. It's the data pipeline: the connections, normalization, enrichment, and licensing agreements that determine whether a model has something worth reasoning over in the first place.

Blog

Why Top Personal Finance Apps Made This Infra Choice

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.

Blog

What 1,000+ Fintech Builders Are Teaching Us

We hear from early-stage fintech teams every week. These builders are trying to ship innovative apps that require navigating the complex world of financial data. We've seen a shift in how these builders think about launching; here's what stands out to us now.

BLOG

CASE STUDIES

Featured

Unify Your Fintech Stack

Quiltt Launches Remote Data

What is Quiltt Remote Data?

Integration Made Easy

Our Pledge to You

Frequently Asked Questions

What aggregators and enrichment providers does Quiltt support?

What platforms and technologies does Quiltt support?

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

Learn more with our resources

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

Why Top Personal Finance Apps Made This Infra Choice

What 1,000+ Fintech Builders Are Teaching Us

SOLUTIONS

GUIDES

COMPANY

LEGAL