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Your deposits are FDIC-insured up to $10 million, 40x the standard $250,000 limit, and the coverage applies to each of your entities separately. Core Bank, Member FDIC, is our banking partner: deposits held there are FDIC-insured up to $250,000, and anything above that is automatically placed with other FDIC-insured banks in the IntraFi network. Lemma is not a bank.

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How your deposits are insured

The standard FDIC insurance limit is $250,000 per depositor, per insured bank, per ownership category. Lemma enrolls your accounts in the IntraFi network automatically, so your deposits are spread across member banks and insured far above that limit:
  • The first $250,000 of each entity’s balance stays at Core Bank and is directly FDIC-insured.
  • Anything above $250,000 is automatically placed with other Member FDIC banks in the IntraFi network. Each of those banks insures the portion it holds, and no portion exceeds that bank’s limit.
  • Together that covers each entity for up to $10 million, including the amount held at Core Bank.

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Your balance stays available

The IntraFi network changes which banks hold your cash, nothing else. Your account shows one balance, the full amount is spendable at any time, and nothing is ever held back or recalled first.

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Coverage for affiliated entities

Each entity is a separate depositor with its own $10 million of coverage. Healthcare groups are often several legal entities, such as an MSO alongside the PCs it supports, or a set of practice entities under common ownership, and every one of them is covered in full. Coverage follows the legal entity rather than your login or the name on the account, so multiple bank accounts, locations, or DBAs belonging to one entity share that entity’s $10 million.

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If you already bank somewhere else

FDIC coverage is per depositor, per bank, so deposits you hold directly at a bank count against the same $250,000 limit as anything IntraFi places there on your behalf. If you bank somewhere that also belongs to the IntraFi network, your coverage at that bank is shared across both. You can exclude specific banks from your IntraFi enrollment, and your deposits will never be placed at them. Email contact@getlemma.com with the banks you want excluded and we’ll set it up.

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Confirming coverage

Two sources outside Lemma can confirm how your deposits are held.

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Core Bank

We’re happy to put you in touch with Core Bank directly to confirm our practices, including how Lemma accounts are custodied and how IntraFi enrollment works. Email contact@getlemma.com and we’ll make the introduction.

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IntraFi

IntraFi issues a confirmation letter directly to the depositor once an account is open and enrolled in the IntraFi network. IntraFi does not issue confirmations before that point.