Eco is not FDIC insured, right?
Yes, Eco is not FDIC insured.
Eco team: You don’t just get points in the App. You actually get a Dollar cashback. There is a Dollar-based APY in the App, you earn 2.5% up to 5% in Dollars. And you also get a 5% Cashback as well as Points. I think those benefits outweigh the costs of not being FDIC insured. We actually think FDIC insurance is not the most important thing in the world. People should have their money work for them. We see that with our users when we talk to those that sign up. I think it’s not being a huge problem for us.
Further reading: Why don’t people need FDIC insurance?