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What is Crescent?Business Checking AccountCustomersBlog
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WELCOME TO HIGH INTEREST BUSINESS BANKING
‍

Earn 5.25% APY* in a checking account
and access up to $125M in FDIC insurance.†


Get Started Now
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Crescent Financial Inc. is a financial technology company, not an FDIC Insured
depository institution. Banking Services provided by FirstBank, a Tennessee
Corporation, Member, FDIC. Conveniently access multi-million-dollar FDIC
insurance coverage through a single bank. Through FirstBank, you are eligible to
utilize ICS, the IntraFi Cash Service, to access FDIC insurance through
thousands of participating IntraFi network banks. IntraFi offers the highest
per-depositor and per-bank capacity, and the peace of mind of being able to make
large-dollar placements every business day. The FDIC’s deposit insurance
coverage only protects against the failure of the FDIC-insured depository
institution and does not protect against a failure of Crescent Financial Inc. or
other companies.  

Crescent is a financial technology company, not a bank.Banking services provided
by FirstBank, a Tennessee Corporation, Member FDIC.


EARNING MILLIONS IN INTEREST FOR COMPANIES JUST LIKE YOURS:
‍





BUILDING A BETTER HOME FOR BUSINESS CAPITAL.

Protect principal, maximize earnings, and gain visibility into your business
capital.


EARN 5.25% APY 
ON EVERY DOLLAR

Crescent Cash accounts unlock top rates for your deposits through our bank
partnerships.
‍
Experience peace of mind with our transparent interest rates, which track to the
Federal Funds rate, ensuring your earnings align with market dynamics while
consistently delivering some of the most competitive rates.
‍
To put it in perspective: letting $1 million idle in a checking account with
0.00% APY interest could mean forgoing $52,500 in potential earnings each year.

Crescent Financial Inc. is a financial technology company, not an FDIC Insured
depository institution. Banking Services provided by FirstBank, a Tennessee
Corporation, Member, FDIC. Conveniently access multi-million-dollar FDIC
insurance coverage through a single bank. Through FirstBank, you are eligible to
utilize ICS, the IntraFi Cash Service, to access FDIC insurance through
thousands of participating IntraFi network banks. IntraFi offers the highest
per-depositor and per-bank capacity, and the peace of mind of being able to make
large-dollar placements every business day. The FDIC’s deposit insurance
coverage only protects against the failure of the FDIC-insured depository
institution and does not protect against a failure of Crescent Financial Inc. or
other companies.  



PROTECTION FOR YOUR DEPOSITS

Protect your business capital with up to $125M in FDIC insurance† while earning
5.25% APY on your entire checking account balance.
‍
Mitigate banking concentration risk by distributing your cash across a network
of FDIC-insured banks in increments of up to $250,000 per bank per account
ownership type.

With Crescent, this enhanced protection is streamlined into a single account on
our dashboard. Simply deposit cash and start earning automatically.


Crescent Financial Inc. is a financial technology company, not an FDIC Insured
depository institution. Banking Services provided by FirstBank, a Tennessee
Corporation, Member, FDIC. Conveniently access multi-million-dollar FDIC
insurance coverage through a single bank. Through FirstBank, you are eligible to
utilize ICS, the IntraFi Cash Service, to access FDIC insurance through
thousands of participating IntraFi network banks. IntraFi offers the highest
per-depositor and per-bank capacity, and the peace of mind of being able to make
large-dollar placements every business day. The FDIC’s deposit insurance
coverage only protects against the failure of the FDIC-insured depository
institution and does not protect against a failure of Crescent Financial Inc. or
other companies.  





AUTOMATICALLY ENHANCE YOUR RETURNS

Looking for more than just high-yield banking? We have you covered.

Diversify and secure your business's investment strategy with access to both
U.S. Treasury Bills and Money Market Funds through Crescent's brokerage
platform1. These safe assets offer a solid foundation for stability and
reliability.

Simplify your investment process while ensuring continuous growth with our
auto-roll feature, providing a blend of stability and ease without the need for
manual reinvestment.



GET STARTED IN MINUTES

Get Started Now
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Crescent Financial Inc. is a financial technology company, not an FDIC Insured
depository institution. Banking Services provided by FirstBank, a Tennessee
Corporation, Member, FDIC. Conveniently access multi-million-dollar FDIC
insurance coverage through a single bank. Through FirstBank, you are eligible to
utilize ICS, the IntraFi Cash Service, to access FDIC insurance through
thousands of participating IntraFi network banks. IntraFi offers the highest
per-depositor and per-bank capacity, and the peace of mind of being able to make
large-dollar placements every business day. The FDIC’s deposit insurance
coverage only protects against the failure of the FDIC-insured depository
institution and does not protect against a failure of Crescent Financial Inc. or
other companies.





SECURITY AND COMPLIANCE

Built on bank-grade security and powered by the most trusted partners across
finance and technology — we work tirelessly to ensure platform security.

CONTINUOUS TESTING FOR ONGOING SOC 2 COMPLIANCE

TWO-FACTOR AUTHENTICATION FOR ENHANCED ACCOUNT SECURITY

SENSITIVE INFORMATION PROTECTED BY END-TO-END ENCRYPTION


PROUD PARTNERS OF

Members only community of 800+ top operators at leading tech companies across
the globe with 10,000 combined years of operator experience.

An independent, invitation-only community for CFOs of high growth companies and
funds. This community includes 750 top CFOs from leading tech companies.


F.A.Q.

FIND ANSWERS TO ALL YOUR QUESTIONS RELATED TO CRESCENT

What is Crescent?


Crescent is an online business banking platform built for business capital. We
offer Crescent Cash, which currently earns 5.25% APY on your entire checking
account balance and can arrange for up to $125M in FDIC insurance† through our
partner banks and their sweep networks. When you open a Crescent Financial Inc.
business checking account through the Crescent Financial Inc. online banking
platform, you are choosing to receive a bank account and banking services from
FirstBank, a Tennessee Corporation, Member FDIC.

Through our affiliate Atomic Invest, we offer U.S. Treasury Bills and Money
Market Funds on Crescent's brokerage platform1 which is maintained in your
company's name at BNY Mellon Pershing, the leading custodian with over $2
trillion in assets.

What do I need to open an account?


Your company will need to provide a certificate of formation, an employer
identification number issued by the Internal Revenue Service,  and the names,
physical addresses, dates of birth, and social security numbers for each person
who owns or controls 25% or more of the voting shares of the company (i.e.,
beneficial owners). The federal government requires the customer to obtain this
information before the bank can open an account for your company. Unless exempt,
you are required by law to provide the names and other information to the
Department of Treasury’s FinCEN at https://www.fincen.gov/boi.

Does Crescent charge any fees?


Crescent does not charge any account opening fees, transfer fees, or minimum
balance fees. For the brokerage offerings, we charge a 0.01% per month all-in
fee for custody and clearing provided by BNY Mellon Pershing LLC, which includes
the fees charged by our partners.

How can I contact Crescent?


Reach out to our Crescent Concierge at support@crescent.app with any questions
or to open an account.

Where are my Crescent Cash funds kept?


Your funds are deposited in a business banking account at FirstBank, a Tennessee
Corporation, Member FDIC. FirstBank and its sweep network are able to sweep
amounts in your Crescent Cash account that exceed $250,000 (the standard maximum
deposit insurance amount, or SDMDI) to other FDIC-insured depository
institutions so that a Crescent Cash account at FirstBank can provide up to
$125M in FDIC insurance† without requiring you to open and manage separate bank
accounts. Each FDIC-insured depository institution will have no more than
$250,000 per depositor, per account ownership category.

Are Crescent Cash funds FDIC insured?


When you open a Crescent Financial Inc. business account using the Crescent
Financial Inc. online banking platform, you receive a bank account and banking
services from FirstBank, a Tennessee Corporation, Member FDIC. If the amount in
your Crescent Cash account at FirstBank exceeds $250,000 (the current FDIC
standard maximum deposit insurance amount or "SMDIA"), FirstBank will, subject
to the terms and conditions of FirstBank's ICS Deposit Placement Agreement,
arrange to sweep the amount in excess of the $250,000 SMDIA to a network of
FDIC-insured banks so that each FDIC-insured bank will have no more than
$250,000 per depositor, per account ownership category.

FirstBank uses a third-party vendor and agent to help administer this sweep
process. Visit https://www.intrafi.com/network-banks for a list of the banks and
savings associations with which FirstBank has a business relationship for the
placement of deposits at destination institutions and into which your deposits
may be placed (subject to applicable terms with you, and any opt-outs by
FirstBank or you).

How fast can I access my Crescent Cash funds?


Outgoing ACH transfers can be processed the same day if processed before 2 pm
CST. Any ACH transfers sent after that will be sent the following business day.
Outbound domestic wire transfers typically provide same-day (if the order is
provided before 3 pm CST) or next-business-day delivery of funds. Outbound
international wires take between 1-5 business days to settle.

Are Crescent Cash and Crescent Brokerage accounts held in my name?


Yes. Your custody account is held solely in your name – Crescent never accesses
your cash or brokerage investments, but merely provides you ability to transact
on your account and view your statements digitally.

What types of securities can I purchase through a Brokerage account?


You can purchase Money Market Funds and Treasury Bills1, custodied at BNY Mellon
Pershing LLC. Please review the terms and conditions for the BNY Mellon Pershing
LLC brokerage account for more details on available investments and fees. Funds
in your brokerage account are not FDIC-insured, not guaranteed by any bank, and
may lose value.

How long does it take to get started on Crescent Cash?


Crescent Cash applications generally take less than 10 minutes to complete if
you have all the information available and ready to provide. Applications are
typically processed in 1-2 business days. Get started here:
https://account.crescent.app/sign-up


BUSINESS BANKING THAT EARNS YOU MORE.

Book a Demo Get Started Now



Interest earning
65x
more than avg APY2
‍


Access up to
$125M
in FDIC insurance†


EARN 5.25% APY* IN A CHECKING ACCOUNT AND ACCESS UP TO $125M IN FDIC INSURANCE.†



Crescent Financial Inc. is a financial technology company, not an FDIC-insured
depository institution. Banking services are provided by FirstBank, a Tennessee
Corporation, Member FDIC. Subject to the terms of the applicable ICS Deposit
Placement Agreement, FirstBank will place deposits at FDIC-insured institutions
through IntraFi’s ICS service. A list identifying IntraFi network banks appears
at https://www.intrafi.com/network-banks. Certain conditions must be satisfied
for “pass-through” FDIC deposit insurance coverage to apply. To meet the
conditions for pass-through FDIC deposit insurance, deposit accounts at
FDIC-insured banks in IntraFi’s network that hold deposits placed using an
IntraFi service are titled, and deposit account records are maintained, in
accordance with FDIC regulations for pass-through coverage.


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Crescent Privacy Policy

FirstBank Privacy Policy

Terms & Conditions

FirstBank Customer Agreement

Terms of Use
* APY = Annual Percentage Yield. Issued APY rate as of 8/1/2024 is 5.25% APY.
APY and interest rates are subject to change.

† Deposit placement through ICS is subject to the terms, conditions, and
disclosures in the applicable agreements.Although deposits are placed in
increments that do not exceed the FDIC standard maximum deposit insurance amount
(“SMDIA”) at any one destination bank, a depositor’s balances at the institution
that places deposits may exceed theSMDIA (e.g., before settlement for deposits
or after settlement for withdrawals) or be uninsured (if the placing institution
is not an insured bank). The depositor must make any necessary arrangements to
protect such balances consistent with applicable law and must determine whether
placement through ICS satisfies any restrictions on its deposits. A list
identifyingIntraFi network banks appears at
https://www.intrafi.com/network-banks. The depositor may exclude banks from
eligibility to receive its funds. IntraFi andICS are registered service marks,
and IntraFi Cash Service is a service mark, of IntraFi Network LLC.

Your profile with Crescent and all services provided to you by Crescent are
subject to the Terms of Use (the “Terms”) and other applicable terms and no
other representations or warranties, express or implied, are provided to you
except as expressly set forth in the Terms. If you have any questions regarding
your Crescent Cash profile, please contact support@crescent.app.

1 Investment advisory services are offered through Atomic Invest LLC ("Atomic
Invest"), an SEC-registered investment advisor, member SIPC. Brokerage services
are provided by BNY Mellon Pershing, member SIPC, through a clearing and custody
relationship with Atomic Invest. Atomic Invest manages and executes investments
on behalf of customers. This advertisement is not an offer to sell or a
solicitation of an offer to buy securities. Products may not be available in all
states. Learn more about Atomic at the SEC’s Investment Adviser Public
Disclosure page. INVESTMENT PRODUCTS ARE: • NOT FDIC INSURED • NOT INSURED BY
ANY FEDERAL GOVERNMENT AGENCY • NOT A DEPOSIT OR OTHER OBLIGATION OF, OR
GUARANTEED BY, FIRSTBANK OR ANY OF ITS AFFILIATES • SUBJECT TO INVESTMENT RISKS,
INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED.

2 APY = 65x more than the average Annual Percentage Yield for checking accounts
published by the FDIC as of 7/15/2024 at
https://www.fdic.gov/resources/bankers/national-rates/index.html


FirstBank’s general policy is to allow you to withdraw funds deposited in your
account on the first business day after the day we receive your deposit. Funds
from electronic deposits will be available on the day we receive the deposit. In
some cases, we may delay your ability to withdraw funds beyond the first
business day. Then, the funds will generally be available by the SECOND business
day after the day of deposit.‍
Copyright © 2024 Crescent Financial. All rights reserved.