For individuals & institutions
Open a Flourish Cash account,1 fund it from your checking and savings accounts, then site back. We allocate your money to our FDIC-member Program Banks where it can earn more.
One Flourish Cash account provides up to 8x the FDIC insurance coverage of a single bank account. We do the hard work of moving your cash to our FDIC-member Program Banks.
Traditional checking or savings account
Flourish Cash account(s) across up to 8 Program Banks2
Flourish Cash account(s) across up to 8 Program Banks2
Flourish Cash account(s) across up to 8 Program Banks2
Access your cash whenever you need it through an unlimited number of transfers. Transfers submitted by 3PM ET are expected to settle on the next business day.3 Wire funds back to your checking account for a small fee if you need them even faster.
Keep your existing checking and savings accounts and continue to pay your bills exactly as you do today.
We are not a bank, but the money you transfer into your Flourish Cash account is automatically deposited at our FDIC-member Program Banks, such as PNC Bank and U.S. Bank.
Flourish Cash is a clear choice for your savings, but what about the cash you need today? We’ve made it easy to keep what you need in your checking account while earning a competitive rate on the rest.
As you consider the right next step for you given your unique situation, please feel free to schedule a call below to further explore Flourish Cash and other investing topics. At Avery Wealth we believe education and information is key to reaching your goals.
How does Flourish Cash work?
Flourish Cash gives you one account that accomplishes what would otherwise require accounts at many different banks. Behind the scenes, the cash in your Flourish Cash account is automatically transferred to one or more of our Program Banks, who are able to offer a competitive rate. Because we partner with multiple banks, you’ll be eligible to receive higher FDIC insurance coverage than any individual bank account,2 all while receiving a single monthly account statement and one annual tax document.
Do I have to open accounts with each Program Bank?
No. After you open a Flourish Cash account, we handle the rest. You will receive a single monthly statement and one annual tax form from Flourish Cash, which you can download at any time.
Can I keep my existing bank accounts?
Yes. Flourish Cash was designed to work alongside your existing bank accounts. By connecting them to Flourish Cash, you can easily move money back and forth, earning the competitive rate offered by Flourish Cash, all while continuing to use your existing accounts exactly as you did in the past.
What information will I need to set up my Flourish Cash account?
Starting with your invitation email, you’ll input standard information about yourself— such as your name, date of birth, and home address—so that we can verify your identity and establish your account. Make sure you have your existing bank information on-hand to link your accounts: preferentially, the login credentials for your online account or alternatively the account number and routing number, which you can find at the bottom of any check.
What if I have an existing account at one of your Program Banks?
If you have an existing account at one of our Program Banks, moving funds to that institution via Flourish Cash could cause you to exceed FDIC coverage limits. To avoid this, you can “opt out” of any Program Bank during the setup process, as well as on your settings page at any time. Opting out of Program Banks may reduce the total FDIC coverage available to you through Flourish Cash. We will always let you know when Program Banks are added to or removed from Flourish Cash.
What types of accounts do you support?
We support most entity types—corporations, LLCs, partnerships, and charitable organizations. The jurisdiction of formation and principal place of business must be in the U.S. We also support individual and joint accounts, and certain simple individual and joint revocable living trust accounts. We do not currently provide support for sole proprietorships or complex trusts.
Can I deposit more than you can keep FDIC insured?
Yes. While we are able to provide up to $1.5MM in FDIC insurance, you can deposit as much as you’d like into your organization’s Flourish Cash account. We’ll spread the funds across our Program Banks to maximize the FDIC insurance you receive.
Can I add multiple users?
Yes, you can add as many Authorized Persons as you’d like. These users will have full authority to transact in the account.
Can I open accounts for multiple businesses?
You can set up accounts for as many businesses as you’d like. You can access all of these accounts through the same email address or through multiple email addresses.
What information will I need to set up the account?
While the specifics vary based on the entity type, you’ll need: (1) information on the Authorized Persons (APs) and other associated persons (e.g. Name, SSN) and (2) information on the entity itself (e.g. date of formation, business information). You may need to upload one document showing the existence of the entity and one document verifying the authority of your APs.
How can I transfer money into and out of my Flourish Cash account?
You can easily initiate transfers into or out of your Flourish Cash account from the Transfer page at any time, or you can turn on Flourish SmartBalance to automatically move money into and out of your linked checking accounts every two weeks based on a target balance you set.
How does Flourish SmartBalance work?
Flourish SmartBalance helps you maintain a target balance in your existing, linked checking accounts. Every two weeks, we will check the account balance at your external bank account. If the actual balance is lower than the target balance you set, Flourish Cash will automatically move funds into that account, and if the actual balance is higher than the target balance you set, the system will move funds out of that external account and into your Flourish Cash account.
Will you let me know when an automated transfer is about to occur?
Yes. Approximately 24 hours before any automatic transfer is initiated by Flourish SmartBalance, we will send you an email outlining the details of the transfer, including a link to cancel or edit the transfer as needed.
How often does the interest rate change?
The Flourish Cash Program Rate is set daily, as you are accustomed to seeing with your checking and savings accounts. In practice, we expect the rate to move infrequently, and we aim to provide a rate that is always competitive. You can always view the latest APY for Flourish Cash at www.flourish.com.
How much does Flourish Cash cost?
Flourish Cash does not charge any account fees: the rate you see is the rate you get. We don’t charge any fees for ACH transfers, and only assess a fee if you choose wire-based transfers in order to cover our costs. We earn a separate fee directly from our Program Banks based on the deposits we place with them, as described in more detail in your account agreement. Note that your external bank may charge transfer-related fees.
What information will you share with my financial advisor?
If you are invited to Flourish Cash by your financial advisor, we will share information with them about your account, including your Flourish Cash balance and the balances for any linked accounts. You can turn off this information sharing at any time by changing this setting on your Account Settings page.
How will you keep my account secure?
We built Flourish Cash with modern data security in mind. Technologies such as multi-factor authentication and bank-level encryption guard your account, while automatic notifications alert you to any irregular activity.
Do you ever sell my data?
No. We will never sell your data to any third party.
1 A Flourish Cash account is a brokerage account offered by Stone Ridge Securities LLC. Stone Ridge Securities LLC is not a bank, but the cash balance in a Flourish Cash account is swept from the brokerage account to deposit account(s) at one or more third-party banks that have agreed to accept deposits from customers of Stone Ridge Securities LLC (“Program Banks”). The accounts at Program Banks pay a variable rate of interest.
2 The cash balance in a Flourish Cash account that is swept to one or more Program Banks is eligible for FDIC insurance, subject to FDIC rules, including FDIC aggregate insurance coverage limits. FDIC insurance will not be provided until the funds arrive at the Program Bank. There are currently at least 8 Program Banks available to accept deposits for personal Flourish Cash accounts (individual, joint and revocable trust accounts), and we are not obligated to allocate customer funds across more than this number of Program Banks if there is a greater number of banks in the Program. Customers are generally eligible for FDIC insurance coverage of $250,000 per customer, per Program Bank, for each account ownership category. Thus, personal customers are eligible for (i) up to $2,000,000 of FDIC insurance for either (A) an individual account or (B) an account for a revocable living trust in which one person is the only grantor, trustee and beneficiary of the trust (“Individual Revocable Trust Account”) and (ii) up to $4,000,000 of FDIC insurance for either (A) a joint account with two owners or (B) an account for a revocable living trust in which the same two persons are each the only grantors, trustees and beneficiaries of the trust (“Joint Revocable Trust Account”). The total FDIC coverage for a two-person household is calculated assuming that each household member has an individual account and that both household members share a joint account. If the number of Program Banks decreases for a customer (either because a Program Bank is no longer participating in Flourish Cash, because a customer’s cash is not eligible to be swept to a Program Bank based on criteria set by the Program Bank (which will be disclosed at account opening), or because a customer opts out of having their cash swept to a particular Program Bank), the amount of FDIC insurance for which the customer would be eligible through Flourish Cash would be lower. Typically, all of a customer’s deposits at a Program Bank in the same ownership category (including deposits held outside Flourish Cash or held through multiple Flourish Cash accounts with the same ownership category) count toward the FDIC insurance limit for deposits at that Program Bank. Customers are responsible for monitoring whether they maintain deposits at a Program Bank outside of Flourish Cash and should consider opting out of having their cash swept to any such Program Bank to avoid exceeding FDIC insurance limits. Although Flourish Cash is offered through a brokerage account and cash held in brokerage accounts often has the benefit of SIPC protection, until such time as we offer securities products, customers likely will not have the benefit of SIPC protection for cash held in their Flourish Cash account. Further, SIPC protection is not available for any cash held at the Program Banks. For additional information regarding FDIC coverage, visit https://fdic.gov.
3 For withdrawal requests submitted by the applicable deadline, the funds will generally be transferred to the requested external account by the next business day, except for withdrawal requests submitted on the weekend or on a holiday, which should be completed by the second following business day, but in some circumstances, withdrawals may take longer to complete, as further described in your account agreement.
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