No, your investment account is not a bank account. We’re not a bank - we don’t take deposits, nor do we pay interest on the cash balance of your account.
We maintain the funds retail investors use to invest through Prosper in a pooled account at Wells Fargo Bank, N.A. titled in Prosper’s name “for the benefit of” (FBO) our investors.
Funds in this FBO account will always be maintained at an FDIC member financial institution. Investors have no direct relationship with Wells Fargo Bank, N.A. by virtue of participating on our marketplace.