This FAQ applies to Flourish Cash. You can review Flourish Crypto FAQs here.
Flourish SmartBalance helps you manage your cash automatically, and is designed to save you time and help you earn a competitive rate by making it easier to automatically transfer money between Flourish Cash and your bank account. Please note that Flourish SmartBalance is only available for checking accounts that were instantly linked to Flourish Cash (by entering your bank account username and password). You can learn more about linking accounts here.
You first set a Target Balance for your linked checking account, which should be the amount that you want to maintain in your checking account and is sufficient for your monthly spending. Flourish SmartBalance automatically checks the balance in your linked checking account every two weeks to see if the balance is above or below your desired Target Balance Range (see more about Target Balance Range here and review the SmartBalance schedule here. If your actual balance is higher than the high end of your Target Balance Range at the end of the two-week period, SmartBalance will automatically transfer the excess out of your external account into Flourish Cash to help you earn a competitive rate. If your actual balance is lower than the low end of the Target Balance Range, SmartBalance will automatically transfer the deficit from Flourish Cash into your external account. You can pause or stop SmartBalance at any time.
Please note the following:
- As always, you are responsible for ensuring the balances at your checking account are sufficient. Flourish Cash does not provide overdraft protection.
- The largest deposit SmartBalance will schedule is $5MM, while the maximum withdrawal SmartBalance will schedule is $1MM. SmartBalance will not schedule deposits and withdrawals that exceed these maximums, regardless of your external account balance.
Flourish SmartBalance is not available for use with external savings accounts. Savings accounts are limited to 6 withdrawals per month due to regulations. Since we cannot track withdrawals you might make out of an external savings account, we do not want SmartBalance to cause you to accidentally breach this limit. However, you can always easily initiate transactions into or out of your linked savings account yourself.