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The account is offered through Metropolitan Commercial Bank. What does that mean?
Kristen
CapWay is a financial technology service provider, also known as a neobank. This means we do not have a bank charter, but instead, partner with Metropolitan Commercial Bank (MCB) who acts as our sponsor bank in order to allow CapWay to offer you banking products. Through MCB, the funds in your CapWay Money Account are FDIC insured up to the legal limit of $250,000.
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