Is Your Online Bank Really a Bank?

A polished app and an “FDIC insured” label can make a fintech account feel just like a traditional bank account. The structure behind it, however, may involve multiple companies responsible for moving funds, maintaining records, and connecting customers to the bank where the money is ultimately deposited. Attorney Joe Seagle breaks down that structure in plain language and explains why it matters when opening accounts for a business or Protected Series LLC. He also examines what the Yotta and Synapse situation teaches business owners about convenience, recordkeeping, account access, and the importance of knowing who actually holds their money. For a deeper investigation into the fintech banking system, watch this additional resource from More Perfect Union: https://youtu.be/hiE7NvONU5U?is=xyPlWsSRtdbqQkuX