Article

PEX Operating Normally During SVB and SBNY Disruption

PEX has not been impacted by the recent events surrounding Silicon Valley Bank (“SVB”) and Signature Bank (“SBNY”).  All customer assets are held by Fifth Third Bancorp (NASDAQ: FITB) and The Bancorp, Inc. (NASDAQ: TBBK).  PEX itself is well capitalized and unaffected.

While SVB and SBNY cater to many tech companies, PEX’s customers represent a diversified array of businesses from non-tech industries whose banks are unaffected by this specific situation. 

If you are a current PEX customer affected by SVB or SBNY, please contact Admin Support so we can discuss options.  To update bank accounts connected to PEX, we encourage you to link your new operating account to us via Plaid or to wire money into PEX to ensure the fastest access to your funds.

If you are a prospective customer looking for a new spend management platform – rest assured, the SVB and SBNY issue is not affecting PEX.  Please apply here.

need is (1)

Discover Why Customers LOVE PEX: 3 Key Reasons to Choose Us

STEPS UP (4)

Meet PEX: Your Reliable Partner Amid Bento’s Account Closures

Male programmer demonstrates a coding technique to a small group of people. He holds a laptop in his hands and shows the codes on the laptop screen

PEX Gets Better, the World Gets Greener. Announcing the First Product Updates of 2024

Stay up to date on the latest PEX news!

Opinions, advice, services, or other information or content expressed or contributed here by customers, users, or others, are those of the respective author(s) or contributor(s) and do not necessarily state or reflect those of The Bancorp Bank, N.A. (“Bank”). Bank is not responsible for the accuracy of any content provided by author(s) or contributor(s).