No. Multicent is a financial technology company registered as a broker-dealer, member firm of FINRA / SIPC. However, Multicent does partner with FDIC-insured banks to store your uninvested cash deposits.

Multicent Cash is not a bank account; it is a business cash management account offered by Multicent Treasury (a FINRA-registered broker-dealer) that functions very much like a business bank account. You can securely deposit checks via our mobile app; send and receive payments via ACH, check, and wire—even internationally; and manage spending for your company’s different users. All with no fees, minimums, or limits. Your money can be stored with Multicent's partner banks (eligible for FDIC insurance up to $250,000) and/or government money market mutual fund. It's your choice! You'll also get unlimited corporate credit cards for secure spending, automatically paid daily like a debit card—while giving you cash back on every purchase and building your business credit. With Multicent business account, you don’t need other bank accounts, cards, or accounting software. You get everything you need, all in one.

Yes. Member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.

Any deposits you maintain as uninvested cash will be placed into one of our partner banks. All funds in a Multicent partner banks will be covered by FDIC insurance up to $250,000 per partner bank. You can find the current list of our partner banks here. Your funds are automatically distributed among partner banks to ensure maximum coverage.

If you currently have an account at one of our partner banks, you may be already utilizing your maximum coverage from that bank, and wish to opt-out of that bank with Multicent Cash. To do that, please contact support@multicent.com.

For more information on Multicent Business Cash’s FDIC Sweep option, please review the Multicent Treasury FDIC-Insured Deposit Sweep Program Disclosure Statement.

Multicent does not charge transaction fees or account fees. Multicent Treasury LLC is paid distribution fees directly from the money market fund (also known as 12b-1 fees) for the trade and placement of securities. Money market fund deposits bear fees and expenses. Please see the applicable fund prospectus for details. Wire transfers, both inbound and outbound, are free to send for Multicent Business Cash customers. Multicent and our partner banks do not charge fees to send or receive international wires with Multicent Cash. However, when sending funds internationally, funds may be sent through third-party banks. Third-party banks may charge fees to cover their costs. In addition, the recipient’s bank may charge the recipient a fee to process the wire.For additional information, please refer to our rates & fees schedule.

All deposits invested in money market funds will earn the same yield, with no minimum balance required. Yield is earned on a daily basis and distributed into your Multicent Business Cash account on a monthly basis. To see the latest rates, please see our Rates & Fees schedule.