Interest is compounded daily and credited to your account on a monthly basis. Interest is calculated using the daily balance method. Essentially, this method applies a daily periodic rate to the principal and interest that has accrued in the account each day. This means that the interest for your account is calculated every day on a 365-day year—or on a 366-day year for leap years. Interest will generally begin to accrue on the business day that your funds are deposited with a Program Bank (generally, the business day that we receive your funds), and is generally paid into your account within the first three business days of the next month.
Articles in this section
- Why is my cash eligible to receive FDIC insurance?
- Do you support joint accounts titled as Tenants by the Entirety?
- How does Flourish Cash work?
- Is there a minimum balance to get started?
- Can I keep my existing bank accounts?
- How long does it take to set up an account?
- What types of accounts do you support?
- How quickly can I deposit and withdraw money?
- Why did you create Flourish Cash?
- How much does Flourish Cash cost?