Customers interested in additional FDIC insurance beyond the $250,000 FDIC coverage in their Rho Checking Account can open a Rho Savings Account to get:
- Up to $75 million in FDIC deposit insurance
- Monthly interest on deposits
Opening a Rho Savings Account
To open a Rho Savings Account, navigate to the Savings tab in your Rho dashboard and click "Request Access" to get in touch with the Rho Client Service team who can assist with setting up the account.
Transferring money
There is no limit to the number of transfers in to the Savings Account. Transfers out are limited to six (6) per month.
Funds transferred from your Rho Savings Account will settle in 1-2 business days.
Transfers to the Savings account are only possible from the Rho checking account. To transfer funds to a savings account within Rho, navigate to the Banking tab in your Rho dashboard and click on Internal Transfer. On the Internal Transfer Details Page, select the Rho account and enter the amount and the desired frequency.
Viewing account details
To view the current balance of your Savings Accounts, as well as any recent pending transactions, click Savings tab.
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