---
title: Accounts FAQ
slug: concepts/accounts/accounts-faq
description: Discover the diverse deposit accounts offered by Cross River, including checking, savings, and FBO accounts, designed for flexible fund management and easy transactions.
docTags: 
createdAt: 2025-10-22T12:50:35.462Z
---

## Accounts – Frequently Asked Questions

This section answers common questions about deposit accounts managed through the Cross River platform, including types of accounts, subledgers, FBO accounts, and account operations.

## General and account types

**What kinds of deposit accounts does Cross River offer?**
Cross River supports [checking and savings](docId\:CH79CVvK5RKYdFluIvp-D) accounts, certificates of deposit (CDs), “for-benefit-of” (FBO) accounts, and subledgers (virtual accounts) under a master account. 

**What is a checking or savings account?**
These are standard deposit products in which customers deposit and withdraw funds. A [checking](docId\:CH79CVvK5RKYdFluIvp-D) account allows frequent transactions; a [savings](docId\:CH79CVvK5RKYdFluIvp-D) account is meant for funds held longer-term and may earn interest. 

**What is a certificate of deposit (CD)?**
A [CD](docId\:waCTNKIkSMBfK0rigKvrC) is a time-deposit account with a fixed interest rate and a maturity term. Early withdrawals usually incur a penalty.

**What is an FBO (“for benefit of”) account?**
An [FBO](docId\:TbRKOj7ConnpBGQUkLe_t) account is opened by a fintech/platform for the benefit of end-users. The master bank account holds the pooled funds and the platform tracks individual user balances off-ledger. 

**What are subledgers (virtual accounts)?**
[Subledgers](docId\:OdZF-4AInebu2YUz5GRCs) are virtual “sub-accounts” under a master deposit account. They allow granular tracking of user or program-level funds without opening full bank accounts for each individual. 

## Opening and managing accounts

**What do I need to open a deposit account?**
To [open an account](docId\:cmmg7siJ20SmZszKDBb4Q) you generally need: a valid product ID (account template), a customer ID, address and phone number, a cleared OFAC status, and matching customer classification to the account type. (docs.crossriver.com)

**Can I change account properties after opening?**
Yes. In the COS system you can update account title, statement address, status, credit limits or overdraft settings based on product configuration and partner permissions. 

## Account activity, balances & transactions

**How are transactions handled on accounts?**
Each transaction posts as a debit on one account and a credit on another, atomically. Accounts always remain balanced. 

**What is an “availability schedule”?**
Some transactions (e.g., ACH credits) may have delayed [availability](docId\:EWmEZ1pIgcRBtNE1Tvziw). The availability schedule shows how much of the credited amount becomes usable each posting day. 

**What is a memo post?**
A [memo post](docId\:EWmEZ1pIgcRBtNE1Tvziw) is a temporary activity entry indicating incoming or outgoing funds that are pending final posting. It converts to a posted transaction after settlement. 

## Subledgers 

**Why use subledgers instead of opening individual accounts for each user?**
[Subledgers](docId\:OdZF-4AInebu2YUz5GRCs)  give you the flexibility to manage many users or program segments under a single master account number, great for wallets, marketplaces, or internal credit tracking. 

**What is the difference between “direct” and “passthrough” subledger configuration?**
[Direct](docId\:OdZF-4AInebu2YUz5GRCs) : The aggregate of subledger balances equals the master account balance; individual subledgers cannot go negative. 

****[Passthrough](docId\:OdZF-4AInebu2YUz5GRCs): Subledgers can go negative while the master account balance is the ultimate availability check. 

## Deposit Sweeps

**What happens if you have enabled a partner for Sweeps and then they open 1000 accounts, is that more work for Cross River?                                                                                                      **No, because the product is what is enabled for [Deposit Sweeps](docId:1uMkKV1qCvkWJffuLLyNK) so every deposit account under that product will be picked up for Sweeps.

**Can a customer choose to opt out for a specific bank or account?                                         **Yes, they can be added to an exclusion list.

**How do I enable IntraFi Sweeps?                                                                                                                 **It is a simple product configuration change performed by Cross River.

**What happens to the deposit product interest rate if I enable Sweeps?                                 **The interest rate stays the same. IntraFi honors the interest rate on the account with Cross River, even if the rate is different at the other banks.



:::hint{type="info"}
For more information, please visit our [accounts](docId\:ZQyAf4oeI1rEzpBOI78MJ) pages.
:::