What we mean by equivalent portfolio investments is essentially taking the economic value of your transactions and deposits and purchasing an equivalent investment on your behalf.
For the Market Savings investments, we utilize the economic value of our customers' accounts, but not their accounts' principal itself. That economic value could be due to the interest that the customer forgoes.
These external revenues to the customers' savings are used to finance the investment and ensure it doesn't lose value.
Any economic value is funded by Save, Save's partner banks, and/or payment networks, and there is no requirement for customer outlay of their own capital, nor do we fund it from customer accounts. For the Market Savings program, all cash deposited by customers is placed in an FDIC-insured bank account† and is not used to fund investments and is therefore not at risk of loss. It is important to note that Save is not a bank, but we partner with FDIC-insured member banks.