Are funds in Carta’s third-party bank partner federally insured?
Yes, distributions will quickly pass through our banking partner, Column, N.A., for the benefit of (FBO) your fund, and into each of your investors’ bank accounts. Deposits in the account are eligible for “pass through” FDIC deposit insurance up to $250,000 per depositor. Carta is a fintech company, not an FDIC-insured depository institution. FDIC deposit insurance only covers the failure of an insured depository institution. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply.