FDIC Insurance

Qapital Basic Account: If you select a Qapital Basic account (your “Basic Account”), funds are maintained at one or more of Qapital’s Partner Banks (chosen in our sole discretion, and subject to change from time to time) for your benefit in an umbrella fiduciary account for the benefit of Qapital’s users (an “FBO Account”). The list of Partner Banks into which your Qapital Basic account funds may be deposited as of March, 2023 is J.P. Morgan Chase Bank, N.A. and Capital One, N.A.. All funds held in an FBO Account are eligible for the benefits of pass-through FDIC insurance coverage, which means that if one of Qapital’s Partner Banks fails, your funds at that Partner Bank should be insured by the FDIC for a maximum of $250,000. Note that the FDIC maximum insurable limit applies to the aggregate of all funds you have deposited with that Partner Bank, so any other funds you hold in at that Partner Bank outside of your Qapital Account will also count toward the limit. We may from time to time and without notice to you move the funds in your Goals Account from an FBO Account at one Partner Bank to an FBO Account at another Partner Bank, for liquidity, backup, storage or any other lawful purpose, but this will not affect your ability to access the funds in your Goals Account, and you remain the beneficial owner of the funds held in your Goals Account.

Qapital Complete and Qapital Premier Accounts: If you select a Qapital Complete account (your “Complete Account”) or a Qapital Premier account (your “Premier Account”), and you choose to open a Qapital Spending Account, the associated account funds in your Qapital Goals Account and Spending Account will be held separately in your name by Lincoln Savings Bank (LSB). Any balances held with LSB are added together and are insured up to $250,000 per depositor. If you do not choose to open a Spending Account, your funds will be maintained in an FBO Account as described above.

Qapital Invest: By selecting a Complete Account or Premier Account and unlocking Qapital Invest, you agree that you are also applying for and opening a Goals Account and Spending Account held by LSB, as detailed above. Once you enroll with Qapital Invest, funds from your Funding Source or a Qapital Account (as selected by you) will be transferred to your Invest Account in accordance with any Rules you have established via the Qapital App. Note that funds held in a Qapital Invest account are NOT FDIC INSURED, MAY LOSE VALUE and are NOT BANK GUARANTEED. However, your Qapital Invest account is SIPC-protected, which means up to $500,000 ($250,000 in cash) is covered by the Securities Investors Protection Corporation (SIPC) should the company fail. It’s important to note that SIPC insurance doesn’t offer protection if you lose money due to market declines. See our Terms & Conditions for more details.

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