How Rho's Business Savings Account works

Get up to $75M in FDIC deposit insurance in seconds.
Author
Justin Wolz
Updated
August 21, 2024
Read time
7

Spending made smarter

Eliminate annoying banking fees, earn yield on your cash, and operate more efficiently with Rho.

We designed the Rho Business Savings Account to help companies ensure cash reserves are safeguarded and to generate market-competitive yield with current interest rate levels.

Individual business checking accounts are only FDIC deposit-insured up to $250K. Let’s say a company founder has $25M in deposits from a recent raise and wants to increase its FDIC protection to prevent liquidity issues. They would need to spend an impractical amount of time and energy opening 100 business checking accounts for all funds to be FDIC-deposit insured.

What's more, in high-interest rate environments, treasury management has become a focal point for companies looking to activate their cash reserves and extend their runway safely.

The Rho Savings Account is designed to help businesses accomplish both objectives.

How the Rho Business Savings Account Works

The Rho Business Savings Account is built on a network of over 400 FDIC-insured banks, allowing you to access up to $75M in FDIC deposit insurance per entity. This coverage saves you the hassle of opening multiple bank accounts to insure your funds. In addition, our Savings Account allows you to earn interest on your funds – giving you the peace of mind that your cash is protected and working for you.

Should you want to earn a higher yield, we offer Rho Treasury, a treasury offering that helps businesses with more than $1M in liquid assets invest in short-dated government securities that are held in your name at our partner clearing broker – all accessed from the same platform you use to manage your banking, expenses, and bill payments.

Open a Rho Savings Account today

After experiencing first-hand how difficult it was for businesses to access commercial-grade banking and treasury services, we built Rho to help companies safely and effectively manage their cash and ultimately scale growth.

For those needing the fast support and fund diversification that Rho’s Savings Account offers, get started with us today.

*Insured through the network of over 400 FDIC deposit-insured banks.

Justin Wolz
November 28, 2024

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Rho is a fintech company, not a bank or an FDIC-insured depository institution. Checking account and card services provided by Webster Bank N.A., member FDIC. Savings account services provided by American Deposit Management Co. and its partner banks. International and foreign currency payments services are provided by Wise US Inc. FDIC deposit insurance coverage is available only to protect you against the failure of an FDIC-insured bank that holds your deposits and subject to FDIC limitations and requirements. It does not protect you against the failure of Rho or other third party.
The Rho Corporate Card is issued by Webster Bank N.A., member FDIC pursuant to a license from Mastercard.
Investment management and advisory services provided by RBB Treasury LLC dba Rho Treasury, an SEC-registered investment adviser and subsidiary of Rho. RBB Treasury LLC facilitates investments in securities: investments are not deposits and are not FDIC-insured. Investments are not bank guaranteed, and may lose value. Investment products involve risk, including the possible loss of the principal invested, and past performance does not future results. Registration with the SEC does not imply a certain level of skill or training. Treasury and custodial services provided through Apex Clearing Corp. ("Apex") and Interactive Brokers LLC ("Interactive"), registered broker dealers and members FINRA/SIPC. Interactive rates may vary from Apex rate shown above. For additional information about investment management and advisory services provided by Rho Treasury, please refer to Rho Treasury’s ADV-2A Wrap Fee Brochure.
             
This material presented is for informational purposes only and should not be construed as legal, tax, accounting or investment advice. Under no circumstances should any of this material be used for or considered as an offer to sell or a solicitation of any offer to buy an interest in any securities. Any analysis or discussion of financial planning matters, investments, sectors or the market generally are based on current information, including from public sources, that we consider reliable, but we do not represent that any research or the information provided is accurate or complete, and it should not be relied on as such. Our views and opinions are current at the time of publication and are subject to change. You should consult with your attorney or relevant professional advisor for advice particular to your personal or business situation.
                  
Rho Treasury is not insured by the FDIC. Rho Treasury are not deposits or other obligations of Webster Bank N.A., or American Deposit Management Co.’s partner banks, and are not guaranteed by Webster Bank N.A., or American Deposit Management Co.’s partner banks. Rho Treasury products are subject to investment risks, including possible loss of the principal invested.
*This reflects the sought net yield based on 90-day Treasury Bill rates as of [DATE] and an annual fee which ranges from 0.15% for deposits of $20M or more to 0.6% (the maximum annual fee) for deposits under $2M. Individual results may vary depending on the actual investment date and investment products selected. Past performance is not a guarantee of future performance results. The yield is variable and fluctuates without prior notice. The rate shown is net of fees. The amount of Treasury Bills available at a particular yield will depend upon the sellers’ offer size; any remaining cash balance after the purchase may not earn the same yield.
© 2019-2024 Under Technologies, Inc. DBA Rho Technologies. Rho is a trademark of Under Technologies, Inc.

Rho is a fintech company, not a bank. Checking and card services provided by Webster Bank, N.A., member FDIC; savings account services provided by American Deposit Management Co. and its partner banks.