How am I protected by FDIC insurance?
By opening a Third Coast Bank SSB account through Mayfair, you deposit your funds into a deposit account offering up to the current standard maximum FDIC insurance of $250,000. Customers who wish to opt into Enhanced Deposit Protection (EDP) will have their funds swept into deposit accounts across a network of over 200 FDIC-insured banks. The cumulative limit for access to FDIC insurance through an EDP account is $50 million¹.
By opening a Stripe account through Mayfair, your funds are held at Evolve Bank & Trust and eligible for pass-through FDIC insurance up to the current standard maximum FDIC insurance of $250,000.