What is my responsibility in monitoring FDIC insurance coverage on my deposits?

It’s important to monitor the total amount of deposits you have with each Program Bank, including those in the Bushel Business Account*, to ensure that you stay within the $250,000 FDIC insurance limit. You are responsible for aggregating your deposits to determine the extent of your FDIC coverage at each bank. We do not have access to know what deposits you may have at a Program Bank outside of the Bushel Business Account.

*Bushel is a financial technology company, not a bank. Banking Services for the Bushel Business Account are provided by The Bancorp Bank, N.A. Member FDIC.   FDIC insurance only covers the failure of an FDIC-insured bank. The standard FDIC deposit insurance limit is $250,000 per depositor, per FDIC- insured bank, per ownership category through The Bancorp Bank, N.A. and its sweep program banks. See the Bushel website  and the Deposit Account Agreement for more details.