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  2. Saving for Taxes

Where does Ruby Money store my tax funds?

We store your tax funds in an FDIC-insured deposit account.

We store your funds in an FDIC-insured deposit account with our partner Blue Ridge Bank N.A. until it’s time to make your quarterly IRS tax payment. 

Every time you authorize a withholding, we transfer tax funds from your linked bank account into your Ruby Money tax savings account. 
You can transfer funds anytime back to your connected bank account in the Ruby Money app.
Your funds are FDIC insured up to $250,000 through Blue Ridge Bank; Member FDIC.