Frequently Asked Questions

The most common questions fintechs have about BaaS with Treasury Prime.
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August 12, 2021
Fintech Frequently Asked Questions

How is Treasury Prime different?

Treasury Prime connects banks and fintech companies through an API so developers can start building in minutes and launch in days. Treasury Prime is a one-stop shop for the technology, compliance, and bank relationship you need to get to market.

Fintech companies choose Treasury Prime because they want:

  • A broad set of services including commercial and retail accounts, card issuing, payments, remote deposit capture, KYC and compliance tools, customizable ledger, and real-time account management
  • The best developer experience with an easy to use API, clear, concise documentation, and a developer sandbox
  • Integrations with best-in-class providers Alloy, Marqeta, Middesk, and Plaid 
  • A direct relationship with their bank and access to multiple bank partner options
  • Usage-based pricing

Our team is unique because we’ve worked in traditional banks as well as startups. We can support you in your journey because we know bank systems better than anyone and we understand what it takes to build and scale a fintech business.

Which banks do you work with?

We currently work with BankProv, Burling Bank, LendingClub Bank (acquired Radius Bank), Pacific Western Bank, and Piermont Bank, and we’re adding new banking partners all the time.

Which fintechs do you work with?

We work with leading fintech innovators including Alloy, Ametros, Brex, First Dollar, LendingClub, Marqeta, Max My Interest, Plaid, Spence, Zeta, and Zibo.

What is Treasury Prime’s relationship with the bank?

Treasury Prime has contracts with each partner bank and this enables us to do a deep technology integration into each bank’s systems. The result is that our fintech customers have access to the breadth of banking services that our bank partners provide. If the bank can do it, you can do it. From a contractual standpoint, the fintech signs a partnership agreement with the bank and Treasury Prime.

What industries do you work with — or do we not serve today?

Treasury Prime’s banking partners are able to work with fintech companies in most industries including cannabis and cryptocurrency/digital assets. 

Currently, we are not able to find banking partners for the following types of companies:

  • International payments
  • Businesses banking US residents who do not have a social security number or green card 
  • Payday lending
  • Gaming and betting
  • Any business prohibited by OFAC

Do we support international customers?

Generally speaking we are able to support companies that are banking U.S. consumers with social security numbers and/or businesses with a U.S. Tax ID number.

How does pricing work?

Treasury Prime has usage-based pricing which ensures our incentives are aligned with yours: you only pay when you use the API.

What percentage of interchange fees do you share? 

We believe that our customers should keep the majority of the interchange fees as part of our revenue sharing model so depending on volume customers can expect to keep 50%-90% of the interchange fees.

What is the process for getting started? 

We’ve mapped out the process that you can expect as you engage with a bank. We know that time to market matters and, with Treasury Prime, you can start development and testing in parallel with the pricing and contract process.

The full fintech partnership process

How does Treasury Prime handle KYC?

Treasury Prime is integrated with Alloy or Middesk so you can use either or both for KYC directly through our API. You can also bring your own KYC solution.  

Does Treasury Prime offer credit and/or debit cards?

Treasury Prime offers interchange-bearing branded debit cards today as part of our core product offering. We offer virtual, physical, and tokenized debit cards, as well as program management services including network agreements, BIN management, fraud detection tools, and custom card design, printing, packaging, and shipping services. Credit cards are on our roadmap for 2021.

Can you customize cards?

Yes! Card graphics and mailer graphics are fully customizable with your logo and branding.

Do you work with Google Pay or Apple Pay?

This is on our roadmap for later in 2021. 

How does Treasury Prime communicate API changes?

We introduce API changes regularly, largely in the form of new features and updates which don’t impact existing code. In the rare case that we need to make breaking changes to an existing API, your Customer Service Manager will communicate with you well in advance to coordinate timing, testing, and cutover.

How reliable is your uptime? 

We strive for 100% uptime and there have been no major incidents since we launched. We’re committed to transparency and maintain a status page for real-time reporting and updates.

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