Frequently Asked Questions

No, you can keep your existing bank account. Clearing partners with Evolve Bank & Trust to let you open virtual bank accounts.

Within Clearing, you can maintain a main balance of funds for each business that you own. This balance is stored with our banking partner Evolve Bank & Trust, Member FDIC and is insured up to $250,000. This balance can be attached to one or multiple zero-balance accounts that each have unique account numbers. You can provide each account number to any third party to send funds to you. Funds will flow directly into your main balance. Clearing is a Financial Technology Company and not a bank. Deposit Accounts are issued by Evolve Bank & Trust, Member FDIC.

Absolutely not. You can keep your existing bank account(s). We recommend using zero-balance accounts opened through Clearing to collect funds with a trust-accounting approach. Learn more in the Zero-Balance account section.

Yes, you can create sub-ledgers to set aside a portion of the funds from your main balance. You can always add & remove funds from a sub-ledger. Coming soon: rules to automatically populate sub-ledgers.

There are 2 ways to funds the main balance:1. You can send funds from your current bank account to your main balance account number via ACH. (bank to bank transfer)2. You can link your existing bank account in Clearing and initiate a transfer in Clearing from this account to your main balance.

You will have a main balance for each business (i.e. legal entity) that you manage in Clearing.

Within Clearing, you can maintain a main balance of funds for each business that you own. This balance is stored with our banking partner Evolve Bank & Trust, Member FDIC and is insured up to $250,000. You can receive funds into this balance or use it to make payments to external bank accounts.Clearing is a Financial Technology Company and not a bank. Deposit Accounts are issued by Evolve Bank & Trust, Member FDIC.

Within Clearing, you can maintain a main balance of funds for each business that you own. This balance is stored with our banking partner Evolve Bank & Trust, Member FDIC and is insured up to $250,000. This balance can be attached to one or multiple zero-balance accounts that each have unique account numbers. You can provide each account number to any third party to send funds to you. Funds will flow directly into your main balance.Clearing is a Financial Technology Company and not a bank. Deposit Accounts are issued by Evolve Bank & Trust, Member FDIC.

Within Clearing, you can maintain a main balance of funds for each business that you own. This balance is stored with our banking partner Evolve Bank & Trust, Member FDIC and is insured up to $250,000.

Clearing is a Financial Technology Company and not a bank. Deposit Accounts are issued by Evolve Bank & Trust, Member FDIC.