Under transfers initiated or authorized by you, your funds pass through BNY very quickly as they make their way from your external bank or your payroll processor to your WisdomTree Prime account (a deposit). Your funds are FDIC insured for the brief time they pass through BNY. Your funds are not FDIC insured, however, once BNY and WisdomTree, honoring your instructions, move the funds to the WisdomTree Prime account.
Similarly, for withdrawals initiated or authorized by you, your funds pass through BNY as they move from your WisdomTree Prime account to your external account or to pay a bill. As discussed in other FAQs, your funds are not FDIC insured while in your WisdomTree Prime account. Your funds are FDIC insured, however, for the brief time they pass through BNY.