Upcoming Network Rate Adjustment

The Network Rate adjustment will take effect Friday, September 18th

Following the Federal Open Market Committee's decision to increase the target range by 25 basis points, you can expect the Network Rate to adjust accordingly, with the new rate taking effect Friday, September 18th. We will send a confirmation notice with the finalized rate Friday morning.

The new Network Rate will be applied automatically across the platform, and no action is required on your part. If you wish to adjust fixed account-level rates earned by your depositors, you can do so through the Admin Portal when the change is confirmed. Floating account-level rates will adjust automatically based on their reference index.

Thank you for your continued partnership.

Best,
NBID Operations

NBID LLC is not a bank. Deposit insurance covers the failure of insured institutions, not NBID. Deposits are placed at FDIC-insured network institutions and are eligible for pass-through insurance up to $250,000 per institution. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply. A list of participating banks appears at nbid.com/bank-list.

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