HomeAbout usProductNonprofitsCareersBlog
navigation menu
HomeAbout usProductNonprofitsCareersBlog

FDIC Insurance

Balances held in Spiral accounts benefit from up to $5,000,000 of FDIC insurance per customer. This is possible because Spiral and nbkc bank arranged for your deposits to be spread across a network of FDIC insured banks, where no more than $250,000 of your funds in your Spiral account will be deposited at any single institution in the bank network. Balances in your accounts may be moved by nbkc bank to one or more network banks to increase the amount of FDIC insurance available to you. Once the funds arrive at the network banks, they are eligible for FDIC insurance per customer of up to $5,000,000 in aggregate. Please be aware that your amount of FDIC insurance may be lower if the combination of any balances you maintain at a network bank, plus any deposits from your Spiral account(s) held in the same network bank, exceed $250,000. Learn more at: https://www.fdic.gov/resources/deposit-insurance/