Backpack is a financial technology company, not a bank. Banking services are provided by OMB Bank, Member FDIC. Deposits in checking and savings accounts are held by OMB Bank and are eligible for FDIC insurance coverage. FDIC insurance covers the failure of an insured bank; pass-through insurance applies only if specific conditions are met. Fees, terms, and conditions may apply. Please review our Terms of Service and Privacy Policy. Contact us for questions about your privacy and consult a tax advisor for tax-related concerns.
