It’s not surprising that lenders have recently been calling and emailing us to find out if their Prosper cash balances are FDIC insured . We want to take this opportunity to let our lenders know that their cash balances are, in fact, FDIC insured. Prosper is not a bank, does not take deposits, and is not FDIC insured. But the funds that Prosper lenders place with Prosper to make bids on borrower listings are maintained at Wells Fargo Bank , which is FDIC insured, and those funds get pass-through FDIC coverage up to $100,000 (note that this amount may increase to $250,000 after the passage of recent legislation).
So during these challenging economic times, you can be comfortable knowing that the funds you place with Prosper have this protection.
Call or email us questions. We’re here to help you.
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Making Money and Having Fun Helping People!From: blog.prosper.com
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The following is a guest post by Prosper Lender Steven Grimes.
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I was skeptical at first, but over time IÂ h...
more The Cost of Packaged FoodsFrom: blog.prosper.com
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Have you noticed how your grocery store is designed? If it’s like most stores, the are raw ingredients (dairy, meat, vegetables) are around the perimeter. If you want a frozen dinner, some cake mix, or a bag of Fritos, you have to venture the aisles. It’s the food in the aisles that I want to talk about today.
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more The Leading Cause Of Personal Bankruptcy…You May Be Surprised!From: blog.prosper.com
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