This FAQ applies to Flourish Cash. You can review Flourish Crypto FAQs here.
Flourish Cash provides support for five types of accounts:
- Individual Account
- Individual Revocable Trust Account: an account for a revocable living trust with one grantor who is also the sole trustee and beneficiary of the trust
- Joint Account1
- Joint Revocable Trust Account: an account for a revocable living trust with two grantors who are the only two trustees and beneficiaries of the trust
- Institutional Account: an account opened for a U.S.-based corporation, LLC, partnership or charitable organization
You only need to send clients a single invitation: they will be able to select the appropriate account type during the sign-up process. However, if your client wants to access their personal account and their institutional account(s) through separate email addresses, you can send them multiple invitations.
Please note that clients may currently only establish one type of individual account, and/or one type of joint account. They can establish institutional accounts for as many organizations as they would like.
1 By default, joint accounts are held by the joint account owners as Joint Tenants with Rights of Survivorship, which means that if one account owner dies, that person’s interest in the account passes to the surviving owner. You can also designate a Joint Account as Tenants by the Entirety by emailing firstname.lastname@example.org; please see this page for more details.