Misc.Apr 24
Metafomosapein
Outreach bourgeoisi Apr 24

Wealthfront is a scam and the bank that truly holds your money, GreenDot, has shady business practices. Goodluck proving you actually own that money dispersed throughout multiple GreenDot accounts when GreenDot goes under. Then Goodluck getting a payout in less than a decade.

ByteDance moks27 Apr 24

It has FDIC insurance

Outreach bourgeoisi Apr 24

@moks27 have you ever tried contacting one of these partner banks, like GreenDot, directly to see if they can provide you with balance information based on a search for your name, DOB, and identity? You should. That will give you an idea of how difficult it will be to claim your money with the FDIC if GreenDot goes under. It’s not going to be nearly as simple as a checking or savings account owned by someone you bank with directly with a savings account. There’s no precedent for these cash accounts and it’s only a matter of time before either one of these fintechs go under or their sketchy partner banks do, before people realize they’re screwed.