When you deposit funds as collateral with Keep, those funds move into a secure internal account, and your credit limit increases by the same amount (1:1). This setup protects your collateral while offering expanded purchasing power on your Keep card.
Before You Get Started
- Active Keep Account: Ensure you have an active Keep Business Account ready to receive funds.
- Funds Available: Confirm you have sufficient funds to serve as collateral.
- How to Fund: If you need help depositing money, visit our How to Fund Your Keep Account article for detailed instructions.
1. Deposit Confirmation
When you transfer money into your Keep Bank Account, we confirm the deposit and then move the funds into a secure internal account. You won’t see these funds in your normal balance anymore, because they’re now designated as collateral.
2. Secured Credit Limit Increase
Your credit limit increases on a 1:1 basis once your funds are secured. For instance, depositing $5,000 will raise your limit by $5,000. You can start making purchases with your new, higher credit limit right away after we move your deposit to an internal safe account.
3. Accessing Your Funds Later
While your funds are in the secure internal account, they aren’t available for everyday spending.
- Withdrawing Collateral: If you want to reduce or remove your collateral, contact Keep Support or your Account Manager. The requested amount is transferred back to your Keep Bank Account, and your secured limit decreases accordingly.
Transitioning to an Unsecured Limit
Keep regularly reviews your payment history, spending habits, and business health. If you meet our criteria for an unsecured limit—often around six months of positive performance—your collateral is released back into your Keep Bank Account. Our goal is to make this transition as quickly as possible, depending on your account’s activity and standing.
Frequently Asked Questions
- Can I spend my collateral directly?
No. Collateral funds are locked in a secure account until you withdraw them, which lowers your secured limit. - Is my collateral safe with Keep?
Yes. We follow stringent security protocols to safeguard all customer funds, including collateral. - How do I withdraw my collateral?
Contact Keep Support or your Account Manager. Any amount you withdraw will reduce your secured limit by the same amount. - What happens if I withdraw everything?
If you withdraw all your collateral, your secured credit limit is removed entirely and you keep the credit limit you had when you started the process.
Need More Help?
If you have any questions or need assistance with your application, please reach out to us at support@trykeep.com