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.

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.

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.

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

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.

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).

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.

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.

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.

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