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Is Treasury a bank account?
No, Treasury is not a bank account. With Treasury, you can invest your business’s idle cash in government-backed treasury bills.
Where is my money custodied with Treasury?
Your funds are custodied in your company’s name at our broker-dealer partner, Apex Clearing Corp.(post-July 2024), or Interactive Brokers LLC (pre-July 2024).
Are my assets pooled with other clients’? Do you invest in ETFs or Money Market funds?
No. Securities are held directly in your business’s name in your Treasury account and are not pooled with those of other clients (e.g., in ETFs or Money Market Funds). With Treasury, you know exactly what assets you own, and how much you own of each type.
Who has rights to move funds from my Treasury account?
Funds can only be transferred to and from your Rho Checking account by individuals to whom you have authorized access.
What protection do I have on my Treasury assets?
Securities Investor Protection Corporation (SIPC) insurance protects against the loss of cash and securities (e.g., stocks and bonds) held at a SIPC-member brokerage firm, such as Apex Clearing Corp, a broker-dealer. The SIPC protection limit is $500,000, which includes a $250,000 limit for cash. SIPC does not protect against the decline in value of your securities. In the event of any loss of the assets in your brokerage accounts, any applicable insurance policy or policies may not cover all or any portion of such losses, and there is no guarantee that you will receive all or any portion of your invested principal or any returns on your invested principal.
What securities do I hold in my Treasury account?
The Securities you hold will generally be restricted to U.S. treasury bills.
What happens when I need to withdraw funds from my Rho Treasury account?
You can withdraw your funds and sell your treasury bills at any time and you should be able to access the funds within 2-3 business days. If you sell your treasury bills, you should be able to access the funds within 2-3 business days. Treasury bills sold before maturity are sold at market prices, which can fluctuate. That means that any treasury bills sold before maturity may lose value compared to your principal investment amount due to factors including, but not limited to, fluctuations in interest rates.
Can I get my accountant set up with Treasury?
Absolutely, you can set your accountant up with a read-only Treasury account. They will be able to access your monthly statements and the other information they need.
Can I Close my Account?
You can close your Treasury account at any time by contacting Rho. Keep in mind that if you close your account and sell your treasury bills before maturity, they’re sold at market price, which fluctuates. That means they may lose value compared to your principal investment amount. Once we have your request, it should take 2-3 business days to sell your treasury bills and close your Treasury account.