A cash account is a pre-funded account that allows you to participate in both Drops ("Primary") and Trading ("Secondary).
These cash accounts are offered through a third-party ACH transfer party, Dwolla! Funds that are held in cash accounts are held by Dwolla’s financial institution partner, Veridian Credit Union. Neither Otis nor any affiliate is a bank or carrying broker, and at no point does Otis have custody or control over your funds.
While you will be able to participate in drops without funds in your cash account, you will not be able to participate in trading without the funds at the ready in your cash account.
(Participating in Drops without a cash account will transfer funds from your linked Bank Account instead.)
Generally, we recommend transferring funds into your cash account at least 3-5 business days before you plan to use them in order to allow your funds to settle.
If you have any questions about how Otis works or your Otis account, please don't hesitate to give our support team a shout on the app or via email at [email protected].