Exciting News! 🎉

Tribevest partners with Stripe and Evolve Bank and Trust to enhance your banking experience. 
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The Latest Communications and Updates will be Posted Here.

Come back to see the latest news and updates regarding your new banking experience. 

Announcement

We are excited to announce our partnership with Stripe and Evolve Bank and Trust! Stripe, is the technology company building economic infrastructure for the internet, and Evolve Bank and Trust* is a trusted financial institution since 1925 and a banking as a service leader who works with over 400 fintech companies and has over $12B in assets under management. 

This collaboration will bring enhanced security, consistency, and features to your banking experience with Tribevest, while you continue to enjoy the same convenience you're accustomed to.

  • Business Accounts - create accounts in minutes with peace of mind with built in ID verification, KYC checks, sanctions screening, and MATCH list checks.

  • Store Funds - FDIC-pass through eligible** and earn yield

  • Move Money - Send domestic wires, ACH and mobile check deposit for easy money movement 

  • Attach Payment Cards - Physical and virtual cards with physical cards shipped in two business days, dynamic spend controls, and access funds at ATMs

What this Means for Tribevest Customers

Tribevest remains committed to providing you with exceptional service and upgrading our offerings with industry leaders like Stripe and Evolve Bank and Trust. We are confident this partnership will significantly enhance your experience with us.

All Tribevest accounts moving forward will be held with Evolve Bank and Trust and payment cards will be issued by Celtic Bank. We are sunsetting our relationship with Blue Ridge Bank N.A. and you will be required to take action if you have the following accounts with us:

  • Tribe Business Account Holders - will need to complete a series of steps to ensure your funds are transferred from Blue Ridge Bank N.A. to Evolve Bank and Trust. 

  • Wallet Holders - we are sunsetting individual accounts and all customers that have Wallets with funding in them will need to zero out their account. 

We will be in touch with next steps of action required from you to smoothly transfer your funds to your new account with limited disruption to your business transactions. 

Thank you for being a Tribevest customer and we look forward to a successful and enhanced partnership with Stripe and Evolve Bank and Trust!


Here for you,
The Tribevest Team

 

* Tribevest partners with Stripe Payments Company for money transmission services and account services with funds held at Evolve Bank & Trust, Member FDIC. Celtic Bank Visa® Commercial Credit cards are issued by Celtic Bank.

** The accounts are eligible only to the extent pass-through insurance is permitted by the rules and regulations of the FDIC, and if the requirements for pass-through insurance are satisfied. The FDIC insurance applies up to 250,000 USD per depositor, per financial institution, for deposits held in the same type of account, such as a business versus a personal account . Stripe is not a federally insured deposit institution. FDIC insurance applies only in the event of the failure of an FDIC-insured bank.

Tribe Business Account Holders

Notice as of May 31, 2024

We are excited to announce a new partnership with Stripe Payments Company for money transmission services and account services with funds held at Evolve Bank & Trust, Member FDIC, and Visa® Commercial Credit cards issued by Celtic Bank.

Starting June 30, 2024, banking services will be provided by Stripe Payments Company for money transmission services and account services with funds held at Evolve Bank & Trust, Member FDIC, and Visa® Commercial Credit cards issued by Celtic Bank.

If you are interested in our program with Stripe Payments Company for money transmission services and account services with funds held at Evolve Bank & Trust, Member FDIC, and Visa® Commercial Credit cards issued by Celtic Bank, you can open a new bank account, by taking the following steps:

  • Providing your consent to transfer personal and banking information Stripe Payments Company;
  • Reading and consenting to our E-Sign Policy, Privacy Policy and Terms and Conditions;
  • Reading and consenting to Stripe Payments Company for money transmission services and account services with funds held at Evolve Bank & Trust Deposit Account, and Commercial Credit Cardholder Agreements by Celtic Bank and Deposit Account Agreement Disclosures by Evolve Bank & Trust; and
  • Reading and certifying the tax certification statements

To transfer funds to your new bank account at Stripe Payments Company with funds held at Evolve Bank & Trust, please provide the ACH authorization form by June 25, 2024. If you do not provide the ACH authorization form by June 25, 2024, your funds will not be transferred to your new bank account at Stripe Payments Company with funds held at Evolve Bank & Trust.

If you do not take the steps above by June 25, 2024, a new bank account will not be opened with Stripe Payments Company with funds held at Evolve Bank & Trust, which could disrupt your banking services.

We will be following up in the coming days with instructions on how to complete the above steps within the Tribevest platform, including consent to transfer and ACH authorization. If you have any questions or concerns, please contact us at support@tribevest.com.

Thank you again for allowing us to serve you. Please contact us with questions.

Tribevest, Inc. is a financial technology company and is not a bank. Banking services provided by Stripe Payments Company for money transmission services and account services with funds held at Evolve Bank & Trust, Member FDIC.

The TRIBEVEST Visa® Commercial Credit Card is issued by Celtic Bank, pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa debit cards are accepted.

 

Wallet Holders

Notice as of May 31, 2024

We regret to inform you that Tribevest is discontinuing service of the Tribevest Consumer deposit account provided by Blue Ridge Bank, N.A., Member FDIC, so your Tribevest Consumer business/consumer deposit account will be discontinued.

Here’s what to expect:

Your Tribevest Consumer account will be closed on June 30, 2024.

In accordance with your “Closing Your Account and Account Suspensions” section of your Tribevest Consumer Deposit Account Agreement, if your account has a balance greater than $1, we will return the remaining funds in your account, minus any outstanding fees, via paper check to the address on file for your account. If you need to update your address on file for your account, please promptly contact us at support@tribevest.com.

If possible, we encourage you to transfer funds out of your Tribevest deposit account to an external account prior to the date of closure. Your funds will not be available for transfer after June 30, 2024.

If you have any questions or concerns, please contact us at support@tribevest.com.

 Tribevest, Inc. is a financial technology company and is not a bank. Banking services provided by Stripe Payments Company for money transmission services and account services with funds held at Evolve Bank & Trust, Member FDIC. The TRIBEVEST Visa® Commercial Credit Card is issued by Celtic Bank, pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa debit cards are accepted.

 


 

Here are further instructions to withdraw your funds from your Tribevest Consumer deposit account, also referred to as the Tribevest Wallet, provided by Blue Ridge Bank, N.A., Member FDIC. 

To withdraw funds from your Wallet, login to your Tribevest account, navigate to the upper righthand corner, dropdown and select “Manage Account.” Select “Wallet” and “Withdraw Funds” to withdraw funds to your linked bank account.

Your Tribevest Consumer account (Wallet) will be closed on June 30, 2024. If you do not withdraw funds before this date, you will be mailed a check to the address we have on file. 

If you have any questions or concerns, please contact us at support@tribevest.com.

Tribevest, Inc. is a financial technology company and is not a bank. Banking services provided by Stripe Payments Company for money transmission services and account services with funds held at Evolve Bank & Trust, Member FDIC. The TRIBEVEST Visa® Commercial Credit Card is issued by Celtic Bank, pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa debit cards are accepted.

Frequently Asked Questions

Tell me more about Stripe as a company.

Stripe is a technology company that builds economic infrastructure for the internet. 

Stripe started by making it easier for online businesses to accept payments, but their current opportunity is much broader. They help people start, run, and grow their businesses online.

Think of Stripe’s products in three broad categories:

1. Global Payments - At the heart of Stripe is their Global Payments and Treasury Network, which is the infrastructure for moving, storing, and managing money. On top of that infrastructure, they have built, and continue to build, a number of products to make their users’ lives easier.

2. Embedded Payments and Finance - As online businesses seek more ways to expand their value to customers, Stripe helps their users access and distribute financial services by providing the modular components needed to build full-featured, scalable services, like loans, treasury accounts, and credit cards.

3. Revenue and Finance Automation (RFA) - Finally, Stripe builds software that helps companies of all sizes manage their businesses online. Their tools can help businesses calculate taxes, set up recurring revenue plans, and answer revenue data questions.

Tell me more about Evolve Bank & Trust.

Evolve Bank and Trust has been a trusted financial institution since 1925; bringing nearly a century of banking expertise to our partnership. 

They have grown from $2.65B in 2020 to over $12B in 2022, showcasing their capability and reliability in managing significant assets. 

Evolve Bank & Trust is a recognized leader in providing banking as a service solutions, partnering with over 400 fintech companies to deliver cutting-edge financial services. 

Can you tell me more about Stripe's BaaS offering?

Stripe's banking as a service (BaaS) offering enables organizations, like Tribevest, to build commercial financial services directly into their products. This includes money storage accounts, expense cards, and financing. Stripes product offering includes Stripe Capital, Issuing, and Treasury. 

Stripe is the only BaaS provider that can partner with their customers on the entire money movement journey. They are processing $5B every month and work with users of every size and industry from early-stage startups to global billion-dollar businesses. 

How big is Stripe?

Stripe is processing billions of dollars every month and works with users of every size and industry. For BaaS, Stripe has a large team spanning Issuing, Treasury, and Capital, and benefit from Stripe scale across all cross-functional teams (e.g. compliance, legal, marketing) and common infrastructure. 

What kind of customers does Stripe have?

Stripe processes $5B every month and work with users of every size and industry. 

Some of their customers include: 

  • Software platforms like Shopify and Housecall Pro
  • Expense management companies like Ramp and Emburse
  • Online travel agencies like Navan
  • On-demand marketplaces like Shipt
  • Buy Now Pay Laters like Klarna
  • Fleet companies like AtoB and Coast
How is Stripe BaaS different from other providers?

Stripe BaaS has two key differentiators.

1. Stripe is the only BaaS provider that can partner with its customers across the entire money movement journey. This streamlines funds flow and simplifies interoperability for its users, creating compounding efficiencies across acquiring, holding, financing, and spending. 

2. Stripe's product structure is unique. Tribevest is Stripe's direct customer, not the bank's. Stripe works with banks on behalf of its customers, and they have a network of strong, long-standing relationships, like Evolve Bank and Trust, across their business. 

What is Stripe's perspective on the latest regulatory and compliance actions happening in BaaS? How is Stripe responding?

Stripe hopes the fintechs and founders that have been impacted can find a solution that suits their needs and allows them to focus on growth and product differentiators rather than stability. 

Stripe has built their compliance program with a long-term perspective because they are also a regulated financial partner, so the stakes are even higher. Unlike other BaaS providers, Stripe is accountable to implementing their own KYC/KYB, AML, and Financial Crime compliance programs, which will be at Tribevest's disposal for all of our customers. 

What is happening to my Tribe business account?

Your Tribe business account will need to be migrated from Blue Ridge Bank N.A. to Evolve Bank and Trust. How you access your account through the Tribevest platform will remain the same.

You will receive clear instructions from Tribevest of what you need to do to accept the Stripe terms and conditions, open your new account, and authorize Tribevest to move your funds to the new account. 

The transition will be easy and seamless and should have minimal disruption to your business transactions. 

Why are Wallets going away?

If you are a Wallet holder, we are no longer supporting individual accounts with the transition to Stripe and Evolve Bank and Trust. 

Wallets will need to have funds withdrawn by June 30 or a physical check will be sent with the account balance to the address Tribevest has on file.