Fold is a financial services platform and not a FDIC insured bank. If you have a Fold Prepaid Debit Card, accounts are subject to pass-through FDIC insurance up to $250,000 per ownership category, should Sutton Bank fail. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply. Coverage limit is subject to aggregation of that account holder's funds held at Sutton Bank.
However, any rewards earned, Reserve purchased, and bitcoin purchases are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections.
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