Latest News from Truss

Successful Launch of New Banking Partnership

Matthew avatar
Shared by Matthew • August 10, 2023

Dear Valued Customer,

We are thrilled to inform you that the transition of our banking services to Thread Bank has been successfully completed.

Key Benefits of the New Partnership

  • Enhanced FDIC Insurance Coverage: Your accounts are now automatically covered by FDIC insurance of $2.5 million through Thread Bank; Member FDIC
  • Increased Flexibility for Tier Limits: As part of this transition, we have increased limit tier flexibility. Contact your account manager to learn more.
  • Faster Withdrawals and Payables: Outgoing ACH payments of settled funds are now processed on the same day as initiated, reducing processing times by up to two business days.
  • Exciting New Features on the Horizon: We are actively working on introducing highly requested features. Stay tuned for updates on the following features: Mobile check deposits, sending checks to pay invoices, and lines of credit.

Important reminders

Transactions Scheduled on Transition Day:

Outgoing payments set to process on the transition day, August 9th, will be delayed by one business day. This is a one-time delay due to the bank partner change.

Updated Terms of Service:

If you haven't already done so, we kindly request that you log in to your Truss account immediately to review and accept the updated terms of service. Your acceptance is essential to continue using our services seamlessly.

We understand that change can sometimes be accompanied by questions, and our dedicated support team is here to assist you. If you have any inquiries or require further clarification, please don't hesitate to contact us.

Truss is now better equipped to cater to your financial needs, offering improved services and increased benefits through this partnership with Thread Bank. We remain committed to providing you with the best banking and payment solutions for your construction business.

Truss is a financial technology company and not a bank. Banking services are provided by Thread Bank, Member FDIC. Visa® Cards are issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa is accepted. FDIC Insurance is provided through Thread Bank; Member FDIC.