Question 1

How can the rates be higher than my bank?

Accepted Answer

Banks pay different rates for deposits. Many community and regional banks need stable funding and pay more for it than your operating bank does on idle balances. Ampersand gives you access to those institutions through one account — which is how program rates have averaged 5–9x the national average. Rates are set by the institutions, vary with the market, and are not guaranteed.

Question 2

Who actually holds my money?

Accepted Answer

FDIC- and NCUA-insured banks and credit unions — not Ampersand. Ampersand is not a bank. Ampersand acts as your agent, and deposits are titled so they can be insured in your name under pass-through rules.

Question 3

Who insures it?

Accepted Answer

The FDIC or NCUA — agencies of the U.S. government — up to the standard limit at each institution. Ampersand does not provide insurance. Splitting deposits across many institutions is how coverage can extend beyond $250K.

Question 4

What’s the catch?

Accepted Answer

There are no setup fees, no monthly fees and no minimum balance on the high-yield account. CDs carry a placement fee charged at maturity, subject to a signed agreement with Ampersand — see your agreement for details. Rates are variable and set by the participating institutions, CDs follow the issuing institution’s terms (which may include early withdrawal penalties), and access to funds may depend on program terms and bank processing times.

Question 5

What is Ampersand?

Accepted Answer

Ampersand is a tech-enabled deposit management services company that helps organizations protect, manage, and optimize large cash balances. Clients access a network of federally insured partner banks through a single account and portal.

Question 6

Who does Ampersand work with?

Accepted Answer

Ampersand works with businesses, nonprofits, and other organizations with large or complex cash balances. We also partner with community banks seeking stable, well-managed deposits. Our clients value safety, simplicity, and strategic cash management.

Question 7

What is Ampersand’s role with my funds?

Accepted Answer

Ampersand acts as your agent. As agent, Ampersand places your deposits at FDIC- or NCUA-insured partner banks and credit unions on your behalf, and maintains the records that support pass-through deposit insurance in your name. Ampersand does not hold deposits, is not a bank, and does not provide deposit insurance.

Question 8

Is Ampersand a bank?

Accepted Answer

No. Ampersand is not a bank and does not accept deposits or provide FDIC or NCUA insurance. Funds are placed at federally insured partner financial institutions, where deposit protection is provided.

Question 9

How is Ampersand different from a traditional bank?

Accepted Answer

Traditional banking concentrates deposits at a single institution. Ampersand helps distribute deposits across multiple federally insured financial institutions while maintaining one account, one login, and consolidated reporting. This reduces concentration risk and administrative burden.

Question 10

Are my funds federally protected?

Accepted Answer

Yes. Funds placed through Ampersand are held at FDIC- or NCUA-insured partner institutions and are eligible for federal deposit protection up to applicable limits at each institution. By spreading funds across multiple banks, clients can increase insured coverage.

Question 11

What is pass-through deposit protection?

Accepted Answer

Pass-through protection allows funds held on behalf of a client to be insured in the client’s name when certain recordkeeping requirements are met. Acting as your agent, Ampersand structures accounts and reporting to support pass-through protection at partner financial institutions.

Question 12

What happens if a partner institution fails?

Accepted Answer

If a partner institution fails, federal deposit protection applies according to standard FDIC or NCUA rules. Insured funds are typically made available quickly, often within one to two business days. Ampersand monitors partner institutions to help clients manage risk proactively.

Question 13

Does Ampersand guarantee federal deposit protection?

Accepted Answer

No. Federal deposit protection is provided by the U.S. government through the FDIC or NCUA, not by Ampersand. Ampersand designs its program to align with federal requirements and best practices.

Question 14

How do I get started?

Accepted Answer

Clients complete a streamlined onboarding process with limited paperwork. Ampersand’s client service team provides hands-on support throughout onboarding. Once complete, funds can be deposited and allocated efficiently.

Question 15

Do I need to change banks?

Accepted Answer

No. Keep your operating accounts, loans and treasury services with your current bank. Ampersand encourages clients to keep working with their community bank for everyday banking needs and works alongside it.

Question 16

Do I need to open accounts at multiple banks?

Accepted Answer

No. Clients have one Ampersand account and portal. Ampersand manages the allocation of funds across multiple federally insured partner institutions behind the scenes.

Question 17

How are funds allocated?

Accepted Answer

Funds are allocated based on deposit protection limits, liquidity needs, and available rates. Allocations are actively managed while clients retain visibility through consolidated reporting.

Question 18

Can I invest in CDs through Ampersand?

Accepted Answer

Yes. Ampersand offers access to CDs from insured banks and credit unions across its network, in any duration, with some of the most competitive rates nationwide. CDs appear in the same portal as your other balances and require no new paperwork. A placement fee applies to CDs and is charged at maturity, subject to a signed agreement with Ampersand. See your agreement for fee details. CDs are subject to the issuing institution’s terms, which may include early withdrawal penalties.

Question 19

Can I access my funds when needed?

Accepted Answer

Yes. Liquidity is a core feature of the Ampersand program. Clients can access funds without coordinating with multiple financial institutions.

Question 20

How are interest rates determined?

Accepted Answer

Rates reflect market conditions and the rates offered by partner institutions. Actively managing deposits across institutions can help clients remain competitive compared to a single-bank approach.

Question 21

Will I receive multiple statements?

Accepted Answer

No. Ampersand provides consolidated reporting, even though funds are placed at multiple institutions. This simplifies reconciliation, accounting, and oversight.

Question 22

What reporting is available?

Accepted Answer

Clients receive clear reporting on balances, allocations, interest earned, and insured coverage. Reports are designed to support audits, boards, and internal stakeholders.

Question 23

How does Ampersand manage risk?

Accepted Answer

Ampersand evaluates partner institutions using financial performance data, regulatory information, and ongoing monitoring. Deposit diversification helps reduce concentration risk.

Question 24

Is Ampersand compliant with banking regulations?

Accepted Answer

Yes. Ampersand operates within established federal banking and deposit protection frameworks. The program is designed to support regulatory clarity and sound risk management practices.

Question 25

Can Ampersand support public or fiduciary funds?

Accepted Answer

Yes. Through its wholly owned subsidiary Ampersand Public Advisors, LLC – Ampersand Inc. works with municipalities, school districts, and fiduciaries that have statutory or policy-driven requirements. Deposit strategies are aligned with those obligations.

Question 26

Why do financial institutions partner with Ampersand?

Accepted Answer

Financial institutions partner with Ampersand to access stable, well-managed deposits without costly customer acquisition. The program supports responsible balance sheet growth.

Question 27

Where are the funds held?

Accepted Answer

Funds are placed at FDIC- or NCUA-insured partner institutions.

Question 28

Who provides deposit protection?

Accepted Answer

Federal deposit protection is provided by the U.S. government through the FDIC or NCUA, not by Ampersand.

Question 29

What does Ampersand provide?

Accepted Answer

Ampersand provides technology, expertise, and services that help organizations manage deposits more safely, efficiently, and transparently.

Frequently asked
questions.

Is it too good to be true?

Working with Ampersand

Deposit Protection (FDIC & NCUA)

How the Ampersand Program Works

Rates, Reporting & Transparency

Risk Management & Compliance

Partner Financial Institutions

Ampersand’s Role

Ready to see how the
Ampersand marketplace works?

Frequently askedquestions.