Increase is not a bank. Banking products and services are offered by Grasshopper Bank, N.A., Member FDIC and First Internet Bank of Indiana, Member FDIC. Cards Issued by First Internet Bank of Indiana, pursuant to a license from Visa Inc. Deposits are insured by the FDIC up to the maximum allowed by law through Grasshopper Bank, N.A., Member FDIC and First Internet Bank of Indiana, Member FDIC. FDIC deposit insurance only covers the failure of the FDIC insured bank.

Deposit placement through an IntraFi service is subject to the terms, conditions, and disclosures in applicable agreements. Deposits that are placed through an IntraFi service at FDIC-insured banks in IntraFi’s network are eligible for FDIC deposit insurance coverage at the network banks. The depositor may exclude banks from eligibility to receive its funds. 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. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA before settlement for deposits or after settlement for withdrawals. The depositor must determine whether placement through an IntraFi service satisfies any restrictions on its deposits. IntraFi, ICS, and IntraFi Cash Service are registered service marks of IntraFi LLC.

Increase is a financial technology company, not an FDIC-insured depository institution. Banking services are provided by Grasshopper Bank, N.A., Member FDIC and First Internet Bank of Indiana, Member FDIC. Subject to the terms of the applicable ICS Deposit Placement Agreement, Grasshopper Bank, N.A. and First Internet Bank 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.