[tempsy]

IIRC this is what Robinhood did when they tried to launch their 3% APY account. I guess where they went wrong was calling it a “checking and savings account”? I thought they also got in a bit of hot water with the SIPC because the insurance isn’t meant to insure “checking account” like products, which is essentially what this is, no?

[perl4ever]

Based on what I read, the problem was not which magic words were used, but the nature of the product.

[tempsy]

Ok, so how is Brex different in this case? Both are effectively checking accounts, except one is for businesses and the other was for retail customers.

[perl4ever]

I don't know how Brex is different, that's pretty much the theme of my comments in this thread.