Interest-bearing and clearing accounts

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Sankaet Pathak
October 28, 2017

This year we have been hard at work building out a full stack deposit product. So in the spirit of that effort, today we are launching our Interest-bearing accounts and clearing accounts.

Interest-bearing accounts

For people familiar with our Deposit Account products, interest-bearing accounts work the same way — instead of DEPOSIT-US or SUBACCOUNT-US, you would spin up IB-DEPOSIT-US or IB-SUBACCOUNT-US.

IB-DEPOSIT-US are deposit accounts in the user’s name with an interest rate. IB-SUBACCOUNT-US are sub-accounts inside a platform FBO account with an interest rate.

Interest rates vary based on the product you are offering and the deposits you would be keeping. They average around 0.50% but can go higher.

Clearing Accounts

If for payment processing reasons you need to put funds into a clearing account without taking the ownership of the funds, then CLEARING-US would come in handy.

All funds associated with CLEARING-US are held in pooled accounts at our partner banks. These funds are not eligible for individual insurance, including FDIC insurance.


Interest-bearing & clearing accounts are now in public beta. If you wish to integrate this into your existing products, please feel free to reach out to us at

Sankaet Pathak

Founder & CEO @ Synapse

©Synapse Financial Technologies Inc. 2020