How Rho's Business Savings Account works
Get up to $75M in FDIC deposit insurance in seconds.
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1 minute
August 21, 2024
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.
Control spend, boost efficiency, and earn up to 1.25% cashback with Rho.
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.
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.
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.