Who can use Durable Money?
Financial accounts, cards, and bills are available to businesses in the US only, in USD. Payments are available to businesses in the US, Canada, the UK, and Australia.
You'll see every section of Money in your sidebar. If a feature isn't available in your country yet, its page explains this instead.
Who on my team can access Durable Money?
Only the account owner can set up Durable Money, see balances and payments, move money, pay bills, and create cards. Other team members can be issued cards and can see their own cards and transactions.
Is Durable a bank?
No. Durable is not a bank or a money transmitter. Durable Money is powered by Stripe.
Durable partners with Stripe Payments Company for money transmission services and account services with funds held at Fifth Third Bank N.A., Member FDIC.
Durable Visa® Commercial Cards are powered by Stripe and issued by Celtic Bank.
Stripe Issuing balances are provided in the US by Stripe Payments Company, licensed money transmitter, with funds held at Stripe's bank partners, Members FDIC.
Are my funds eligible for FDIC insurance?
USD balances in financial accounts (unless otherwise indicated) are eligible for FDIC pass-through deposit insurance if the accounts meet certain requirements. The accounts are eligible only to the extent pass-through insurance is permitted by the rules and regulations of the FDIC, and if the requirements for pass-through insurance are satisfied. The FDIC insurance applies up to US$250,000 per depositor, per financial institution, for deposits held in the same ownership category. Neither Stripe nor Durable is an FDIC-insured institution. The FDIC's deposit insurance coverage only protects against the failure of an FDIC-insured depository institution.
Funds in your Primary account are a mix of payment processing funds and stored value funds, and are not eligible for FDIC pass-through insurance.
Does FDIC pass-through insurance eligibility protect me from fraud or loss?
No. FDIC pass-through insurance eligibility only applies if a bank fails.
Does it matter if I have other accounts with the same bank?
It can. If you have other business accounts with the bank that holds your financial account funds, the FDIC might combine your business balances with that bank when applying the $250,000 limit. The FDIC generally doesn't combine personal accounts with business accounts.
How do I know if the requirements for FDIC pass-through insurance are met?
Financial accounts are designed to be eligible for FDIC pass-through insurance. The FDIC makes the final decision at the time a bank fails.
Can I pay bills or send money in other currencies?
No. You can only pay bills and send money in USD to US bank accounts.
Can I receive money directly into a financial account?
Yes. Each financial account has its own account number and routing number. Click Money > Financial accounts, then click the account and look under Account details.
How long do transfers take?
Adding funds from your bank, sending money, and paying bills by bank transfer usually take 1 to 3 business days.
Why is my Primary account balance going down every day?
By default, available funds in your Primary account are paid out daily to your payout bank account. You can change this to weekly, monthly, or manual. See Manage your financial accounts.
What do I do if a card is lost or stolen?
Open the card and deactivate or replace it straight away. See Issue and manage cards.