Versine is a financial technology company, not a bank, and is not insured by the FDIC. Your Versine balance is held in an account you own and control, not as a deposit at a bank, so it is not covered by FDIC deposit insurance and Versine cannot pay it out or move it on your behalf. Transfers to and from bank accounts are provided by our licensed partners.
Versine is software, not a money services business. Versine never takes custody of your money or transmits it for you: every payment is approved and signed by you from your own account, or by a standing instruction you signed, and bank payouts are handled by licensed partners.
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