Get To Know Our New Banking Service

Frequently Asked Questions

Got questions? We've got answers.

General Questions

Who is nbkc bank?

nbkc bank, a member of the Federal Deposit Insurance Corporation (FDIC), is an award-winning online bank and known for its secure and innovative banking solutions. Our direct relationship with nbkc bank allows us to provide secure, FDIC-insured accounts* and a more personalized banking experience for our members. 

How is this different from our relationship with Synapse?

Previously, Changed was partnered with Synapse, which managed relationships with multiple banks on our behalf. This setup meant that communication and coordination were often indirect and less efficient, as we had to rely on Synapse to liaise with the various banks involved.

With our new provider, nbkc bank, we have a direct relationship with the bank where your account is opened. This direct communication ensures a more streamlined and transparent process, allowing us to:

• Provide Better Service: Direct communication with nbkc bank allows us to address issues and implement improvements more quickly and effectively.
• Enhance Security: Each member is opening a Demand Deposit Account (DDA) with nbkc bank. nbkc bank, Member FDIC. 
• Offer Personalized Banking: The new DDA structure provides each Changed member with an individual deposit account, providing a more secure banking experience.
• Increase Reliability: Direct relationships with both nbkc bank and Helix by Q2 ensure all parties involved are in close coordination, reducing the risk of disruptions and improving overall service quality.

Overall, the direct relationships with nbkc bank and Helix by Q2 lead to a more efficient and secure banking experience.

Who is Q2?

Q2 is a leader in digital banking technology. As a publicly traded company, Q2 collaborates with hundreds of banks and credit unions to offer advanced, secure banking solutions. Q2’s technology enhances our ability to provide cutting-edge financial services, ensuring reliability and trust.

Who is Helix by Q2?

Helix by Q2 is a platform that offers advanced banking technology solutions. Through our partnership with Helix, we aim to provide enhanced security, innovative features, and an improved user experience for our members.

Account structure

What is a Demand Deposit Account (DDA)?

A Demand Deposit Account (DDA) is a type of bank account that allows you to withdraw your funds on demand. This includes checking accounts, which provide high liquidity and easy access to your money without any withdrawal limits or restrictions.

How does the new DDA structure benefit me?

The new DDA structure provides each Changed member with an individual deposit account. 

This offers enhanced security, as your funds are directly tied to your individual account within the bank. It also ensures a more personalized and secure banking experience, with your money easily accessible and identifiable.

What does FDIC-insured* mean?

Any balances you hold with nbkc bank, including but not limited to those balances held in Changed accounts are added together and are insured up to $250,000 per depositor through nbkc bank, Member FDIC.  

Changed is a financial technology company, not a bank. Banking services are provided by nbkc bank, Member FDIC. Changed is not FDIC-insured. FDIC insurance only covers the failure of an insured bank. 

If Changed were to close, your deposits will still be maintained at nbkc bank and you will still have access to your funds. 

This provides an additional layer of security, ensuring that your money is safe even in the unlikely event of a bank failure.

‌Transition Details

Why did Changed switch banking providers?

Changed switched banking providers due to issues with our former partner, Synapse, which led to a freeze on your funds. To prevent future disruptions and enhance our service, we chose to work with nbkc bank, Member FDIC and Helix by Q2. These new relationships provide better security, innovative features, and direct communication with all parties involved.

Will there be any changes to my existing Changed account?

Yes, your account will transition to the new DDA structure with nbkc bank, Member FDIC. This change will provide you with a personal DDA account that is FDIC-insured*, enhancing your account’s security and providing a more personalized banking experience. 

Do I need to do anything to transition to the new account?

You will need to share your account opening information which may include your name, DOB, address, phone number, SSN, and review and accept new terms and conditions. We will notify you of any specific actions required on your part and provide detailed instructions to ensure a smooth transition.

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Security and Trust

How secure are my funds with the new banking provider?

Any balances you hold with nbkc bank, including but not limited to those balances held in Changed accounts are added together and are insured up to $250,000 per depositor through nbkc bank, Member FDIC*. We have also implemented a more reliable and accessible account structure. Additionally, Helix by Q2’s advanced digital banking technology, utilized by millions of users, offers strong security measures to protect your financial data.

What measures are in place to prevent future issues?

We have taken several measures to prevent future issues, including working with reputable banking and technology providers, implementing a more individualized account structure (DDA), and ensuring direct communication with all parties involved. These steps are designed to provide a more reliable and secure banking experience for Changed members.

Additional Features and Support

Where can I find more information about the new providers?

You can visit the Helix by Q2 website and the nbkc bank website for more detailed information about our new providers. 

Who do I contact if I have more questions or need support?

For any questions or support, please contact our customer service team via email support@changedapps.com. Our support team is here to assist you with any concerns or questions you may have. 

*Any balances you hold with nbkc bank, including but not limited to those balances held in Changed accounts are added together and are insured up to $250,000 per depositor through nbkc bank, Member FDIC. nbkc bank utilizes a deposit network service, which means that at any given time, all, none, or a portion of the funds in your Changed accounts may be placed into and held beneficially in your name at other depository institutions which are insured by the Federal Deposit Insurance Corporation (FDIC). For a complete list of other depository institutions where funds may be placed, please visit https://www.modernfi.com/nbkcbanklist. Balances moved to network banks are eligible for FDIC insurance once the funds arrive at a network bank. To learn more about pass-through deposit insurance applicable to your account, please see the Account Documentation. Additional information on FDIC insurance can be found at https://www.fdic.gov/resources/deposit-insurance/.

Changed is a financial technology company, not a bank. Banking services provided by nbkc bank, Member FDIC. Changed is not FDIC-insured. FDIC insurance only covers the failure of an insured bank.