San Francisco, August 10th, 2023 - Truss, a leading banking and payments provider for construction companies, is thrilled to announce the successful launch of its new banking partnership with Thread Bank. The transition, completed on August 9th, introduces enhanced benefits and a seamless banking experience tailored specifically for construction businesses.
Key Benefits of the New Partnership:
Enhanced FDIC Insurance Coverage
Truss customers can now enjoy enhanced FDIC insurance coverage of $2.5 million through Thread Bank; member FDIC.1
Increased Flexibility for Tier Limits
Customers can now run and grow their businesses with increased tier limit flexibility.
Faster Withdrawals and Payables
The partnership with Thread Bank empowers Truss to process outgoing ACH payments up to two business days faster, ensuring smoother cash flow for construction companies.
Exciting New Features
Truss is actively developing highly requested features for construction companies, including mobile check deposits, sending checks to pay invoices, and lines of credit, all geared towards streamlining financial operations.
"We are excited about this new partnership with Thread Bank, as it allows us to further cater to the specific needs of construction companies," said Matthew Smith, CEO of Truss. "The enhancements in FDIC coverage provided through Thread bank, improved tier limit flexibility, and faster transactions align with our commitment to providing the best banking solutions for the construction industry. We are confident these improvements will empower contractors to thrive and grow their business."
For more information about Truss and its banking solutions for construction companies, please visit trusspayments.com.
About Truss
Truss is a leading banking and payments provider specializing in serving the unique financial needs of construction companies in the U.S.2. With a strong focus on customer satisfaction and technological innovation, Truss aims to simplify banking for the construction industry and empower companies to achieve their financial goals.
1Your deposits qualify for up to a maximum of $2,500,000 in FDIC insurance coverage when placed at program banks in the Thread Bank deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at Thread Bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://go.thread.bank/sweepdisclosure and a list of program banks at https://go.thread.bank/programbanks. Please contact customerservice@thread.bank with questions on the sweep program.
2Truss is a financial technology company, not a bank. Banking services provided by Thread Bank; Member FDIC. The Truss Visa® Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa cards are accepted.
