text:  So what they'll do is partner with FDIC insured banks. And in such arrangements, your money's held by the partner bank. And as long as that bank is FDIC insured, your funds are protected up to the $250,000. Additionally, some fintechs will use a system where your funds are distributed across multiple FDIC insured banks, which is a process known as a sweep account. And this can potentially increase your coverage if the total deposits are spread across several banks.