1. What the Cash Plus Account is
ⓘ A brokerage cash account opened for you by Bivo that holds US dollars you aren’t using yet — not a bank account.
The Xpat Cash Plus Account is a brokerage cash account. It is opened for you by Bivo Inc., our account provider, as a brokerage account in your name, and it does one thing: hold US dollars you are not using yet.
The account is issued with a US account number and routing number of your own, so an employer, a client or another account in your name can send money to it directly. You can move the balance back out to your own US bank account, or use it to pay for a transfer on Xpat. The balance stays in US dollars and is swept to the program banks described in section 3; it is not invested on your behalf, and the account is not a trading account.
It is not a bank account, and it is not a bank product. Section 5 sets out what that distinction means in practice.
2. Who provides it
ⓘ Bivo provides and runs the account under its own agreement; Xpat provides the app and never holds your cash.
Bivo Inc. (NMLS 2572288) provides and administers the account. Bivo opens the brokerage account, operates the program through which your cash reaches the banks that hold it, and is the party whose account agreement governs it. Bivo’s licenses are published at bivocash.com/licenses.
Xpat — the brand operated by Remit2Any Inc. — provides the app you use to open and manage the account, and the transfer services you can fund from it. Xpat does not hold your cash.
When you open the account you accept Bivo’s own terms alongside Xpat’s. They are separate documents from this page and from Xpat’s Terms of Service:
3. How FDIC coverage works
ⓘ Your cash is swept to FDIC-member program banks, so pass-through FDIC coverage can reach it — but only for bank failure, and not for the Xpat rebate or money in transit.
Cash in your Cash Plus Account does not sit in the brokerage account itself. It is swept to one or more program banks — FDIC-member banks that take part in the program — and it is held on deposit there. Because the cash is on deposit at an insured bank, FDIC insurance reaches it on a pass-through basis, subject to FDIC rules and to the program’s records identifying you as the owner of the funds.
There is no single bank behind this product. Which program bank holds your cash is assigned within the program, and it is not the same for every customer — two Xpat customers can hold the same product and have their cash at different institutions. That is why we do not name a bank here, and why you should not assume one. Where the program tells us which institution holds your cash, the app shows it on your account.
Standard FDIC coverage is $250,000 per depositor, per insured bank, per ownership category. Coverage is per bank, not per account: if you already hold money directly at a bank that also happens to be a program bank, those balances count toward the same limit.
What FDIC insurance does not do
- It does not protect against loss of value. FDIC insurance covers the failure of an insured bank. It is not a guarantee of return and it is not protection against your balance being worth less than you expected.
- It does not cover the Xpat rebate. Any promotional rebate of the kind described in section 4 is a payment from Xpat — not a bank deposit and not bank interest. No FDIC coverage applies to it.
- It does not cover money in transit. Coverage applies to cash on deposit at a program bank. Money that is still moving — into the account, or out to your bank — is not yet, or no longer, on deposit there.
- It is not insurance against Xpat or Bivo. FDIC insurance responds to the failure of an insured bank. It is not a guarantee of Xpat’s or Bivo’s performance, and it does not cover fraud or unauthorized transactions, which are dealt with under the account agreement and applicable law.
4. How you earn: two separate things
ⓘ Bank interest (paid by the bank, FDIC-covered) and any Xpat rebate (paid by Xpat, not covered) are separate and never added together.
What arrives in your account can come from two different places, paid by two different parties, on two different bases. We keep them apart everywhere, including here. Only the first of the two is bank interest, and only the first has anything to do with the FDIC coverage in section 3.
Bank interest
Paid by the program bank or banks on the cash they hold on deposit for you. This is deposit interest, quoted as an APY, and it is the cash the FDIC pass-through covers. It is the only part of what you earn that a bank pays.
Xpat promotional rebate
A promotional payment Xpat may make, from its own funds, for keeping a balance with us. It is not interest, it is not paid by a bank, and it carries no FDIC coverage. A rebate applies only while Xpat is running one: there is no rebate unless the app shows you one on your account, and Xpat can change it, put an end date on it or withdraw it.
We do not add these two numbers together and advertise the total as an APY. Doing so would state that a bank pays more than it does, and would imply insurance over a payment that has none. If you ever see the Cash Plus Account described with a single blended rate, that description is wrong — please tell us at support@xpat.money.
Your current rates
Your current bank interest (APY), with the date it applies from, and any Xpat promotional rebate, with its end date, are shown in the Xpat app on your account. They are shown separately because they are separate, and never added together.
Rates on this product are variable. The bank’s interest rate can change, and any rebate can change or end. The rates shown in the Xpat app at the time you look are the ones that apply to your account; nothing on this page is a fixed rate or a promise of a future one.
5. This is not a bank account
ⓘ Neither Xpat nor Bivo is a bank; FDIC coverage comes only from the program banks holding your swept cash.
- Xpat is not a bank. Xpat.Money, operated by Remit2Any Inc., is a financial technology company. It does not take deposits and it is not FDIC-insured itself.
- Bivo is not a bank either. Bivo Inc. (NMLS 2572288) is the licensed provider of the brokerage account, not a depository institution. Its licenses are listed at bivocash.com/licenses.
- The account is a brokerage cash account. The FDIC coverage described in section 3 comes from the program banks holding the swept cash — not from Xpat, and not from the brokerage account itself.
6. How money gets in and out
ⓘ Money comes in by direct deposit, ACH or from your linked bank, and goes out to your own bank or to an Xpat transfer — ACH isn’t instant.
Getting money in
- Direct deposit. Give your employer or payer the account number and routing number shown in the app, and your pay can land here.
- Incoming ACH. Send money in from another US account in your name using the same details.
- Add money in the app from a US bank account you have linked to Xpat.
Getting money out
- Withdraw to your own US bank account by ACH, to an external account you have linked to Xpat.
- Fund a transfer — pay for an Xpat money transfer from the balance.
Money in and out moves over ACH, which is not instant. Bank cut-off times, weekends and US bank holidays all apply, and a deposit or withdrawal started late in the day is normally processed on the next business day. Transfers can also be held while standard identity, compliance and fraud checks are completed.
7. Regulatory information
ⓘ Xpat is a Washington fintech company; money movement is provided by licensed banks and regulated partners, listed here.
Xpat.Money, operated by Remit2Any Inc., is a financial technology company incorporated in the State of Washington, United States (Registration No. 604871470). Xpat.Money provides digital financial services, including cross-border payments, multi-currency accounts, digital wallets, and related financial technology solutions for individuals and businesses.
Money transmission, payment, wallet, and related financial services are provided through a network of licensed banking institutions and regulated financial partners, including Cross River Bank, Member FDIC, Cybrid Payments Inc. (FinCEN Money Services Business Registration No. 31000308810188), Cybrid Inc. (FinCEN Money Services Business Registration No. 31000308810190), Cybrid Canada Inc. (FINTRAC Money Services Business Registration No. M22090386), ASK PAY LTD (FINTRAC Money Services Business Registration No. N300000207), Bivo Inc. (NMLS 2572288), and other licensed banks, money transmitters, and payment service providers, as applicable to each product, service, transaction, and jurisdiction. For Bivo licensing information, please visit bivocash.com/licenses.
Depending on the product, service, and countries involved, transactions are processed by the appropriate regulated entity in accordance with applicable federal, state, provincial, and international laws and regulations, including anti-money laundering (AML), know-your-customer (KYC), sanctions screening, consumer protection, and other applicable financial compliance requirements.
ASK PAY LTD is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Services Business (MSB) under Registration No. N300000207.
8. Questions
ⓘ Email support if anything here doesn’t match what the app showed you.
Email support@xpat.money and we will answer. If something on this page does not match what you were shown in the app, tell us — the mismatch is the thing we want to hear about.
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