The deposits in your Flex Checking accounts are held by our partner bank Thread bank, Member FDIC. Your funds become eligible for up to a minimum of $2,500,000 in FDIC insurance coverage when placed at program banks in the Thread Bank deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity.
You can access the terms and conditions of the sweep program and a list of program banks at https://www.thread.bank/faq.