General Questions

What is Medici Bank?

Medici Bank is a fully licensed deposit-taking financial institution based in the USA. The bank was founded in 2016 and received our bank license in 2017. After being acquired in 2019, Medici Bank relaunched in 2020 and offers business accounts and consumer time deposits (CDs).

What type of clients can you bank?

We bank tech-forward growing small and medium size companies in the USA and outside the USA; we also bank high net worth individuals and family offices, in particular those outside the USA, that want a US dollar account that pays interest.

Is Medici Bank a regulated Institution?

Yes, Medici Bank is regulated by the Office of the Commissioner of Financial Institutions (OCIF) in Puerto Rico, USA. License #IFE-30

Are the deposits insured?

Medici Bank is not a client of the Federal Deposit Insurance Corporation and Deposits are not directly insured by FDIC. Deposits at Medici Bank are mostly held at a partner FDIC-insured bank, or spread across a number of FDIC banks, or held at an SIPC-insured brokerage firm, mostly in cash and treasuries. Assets held in Custodial accounts via the Trust Division of Medici Bank are 100% held for the fiduciary benefit of our clients, typically  in cash and/or treasuries via our prime brokerage partner. 

Where are my funds kept?

Typically, Bank deposits are swept to and among multiple FDIC insured financial institutions in the US on a pooled basis (ie. pooled across all bank deposits of Medici Bank). Custodial assets, on the other hand, are typically held per the instruction, and benefit, of the account holder. Options include FDIC insured banks, Treasuries themselves, plus thousands of funds and securities. 

How much does it cost?

Medici Bank fees vary depending on the type of account you want and the type of customer you are. For example, there is no fee to open a CD account and no fees for a US business to open a US dollar demand account. Wire fees can vary by account type but are generally as disclosed here. Please contact sales@medici.bank to learn more.

What are the bank's hours of operation?

Clients may submit transactions at any time (24x7x365) via the Web or API. Internal transfers (from one Medici Bank client to another Medici Bank client) may happen instantly regardless of time of day and day of week and others may be held up for risk or compliance review. Those that need to be reviewed, and any external transfers, would be processed typically Monday to Friday between 9am and 5pm Eastern USA time. The bank is closed on weekends and bank holidays. 

What are bank holidays?

In additions to weekends, Medici Bank will be closed for all US Federal holidays. 

Where are you located?

We maintain an office address at:

     1250 Ponce de Leon Avenue, 3rd floor

     San Juan, PR 00907  (USA)

How can I contact the bank?

If you are not yet a customers and need addtional information or help, please email us at Onboarding@Medici.Bank.  

You can also message us on WhatsApp at 1-939-545-3555

If you are a customer and need help with your account, fill out the Contact Form or send us an email to Support@Medici.Bank or, during our (Eastern US timezone) operating hours, you can telephone us at: