Accounting Principles

Reporting financial information comes with a set of rules.

To stay compliant, it's encouraged to follow accounting principles. Essentially, they are the guidelines your business uses to ensure you follow ethical and transparent accounting practices.

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*Zeni is a financial technology company and is not a bank. Banking services provided by Thread Bank, Member FDIC.

1. Your deposits qualify for up to $3,000,000 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 at https://go.thread.bank/sweepdisclosure and a list of program banks at https://go.thread.bank/programbanks. Please contact customerservice@thread.bank with questions regarding the sweep program.
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2. The interest rates and annual percentage yield on your account are accurate as of 05/16/23 and are variable and subject to change based on the target range of the Federal Funds rate. APY will vary between .99%-4.05% depending on the balances held. Earn 0.99% APY on checking balances of less than $250,000, 1.98% APY on balances between $250,000 and $500,000, 2.97% APY on savings balances between $500,000 and $1,500,000, 3.96% APY on savings balances between $1,500,000 and $2,500,000 and 4.05% APY on savings balances of more than $2,500,000. There are no minimum balances or minimum deposits required to earn interest on your account.

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