Last updated on
Ratings
Crescent description
Crescent is a financial technology company offering a high-interest business banking platform called Crescent Cash. Businesses can earn a competitive interest rate on their entire checking account balance while maintaining FDIC insurance through a network of partner banks. Crescent emphasizes security and transparency, with features like two-factor authentication and SOC 2 compliance. While Crescent doesn't charge traditional banking fees, they earn revenue by taking a percentage of the interest earned on client deposits.
Who is Crescent best for
Crescent offers a high-interest business banking platform with FDIC insurance through partner banks. Businesses of all sizes can earn a competitive interest rate on their checking account balance. Crescent prioritizes security with two-factor authentication and SOC 2 compliance. They earn revenue by taking a percentage of the interest earned, rather than charging traditional banking fees.
-
Ideal for businesses of all sizes seeking higher interest returns on cash reserves.
-
Particularly well-suited for businesses in finance, banking, and insurance.
Crescent features
| Supported Offers a competitive APY of 4.65% on entire balance. |
| Supported Provides FDIC insurance through a network of partner banks, up to $250,000 per bank per account ownership type. |
| Supported Offers two-factor authentication to protect accounts. |
| Supported Employs end-to-end encryption to secure sensitive information. |
| Supported Supports same-day ACH transfers if processed before 2 pm CST. |
| Supported Offers domestic and international wire transfer capabilities. |
| Supported Maintains SOC 2 compliance through continuous testing. |
Crescent alternatives
MercuryBetter fit for startups. Geared towards expense management, including company credit cards. Notably, some users report issues with customer support responsiveness.Read more
CoupaBetter for spend management, procurement, and AP automation. A Coupa alternative for businesses seeking high-yield interest accounts.Read more
XeroBetter for accounting and financial management. A Xero alternative for those seeking higher interest on business checking accounts.Read more
PayhawkBetter for expense tracking and spend management. More suitable for larger businesses with global operations. Offers more integrations with accounting systems. Payhawk has more user reviews and positive feedback on customer service. However, some users mention limitations with USD payments and ERP integration issues.Read more
intergiroBetter fit for e-commerce, real estate, transportation, technology, legal, professional services, and marketing businesses. A Crescent alternative and competitor.Read more
AgicapBetter for cash flow forecasting and reporting. More established, with broader industry applicability. Well-regarded for intuitive interface and customer support. However, note the negative pricing sentiment and potential bank synchronization issues. A strong Agicap alternative for mid-sized businesses.Read more
Crescent FAQ
What is Crescent and what does Crescent do?
Crescent is a fintech company providing a high-interest business banking platform, Crescent Cash. It offers competitive interest rates on checking account balances, FDIC insurance, and features like two-factor authentication and SOC 2 compliance. Crescent generates revenue by taking a percentage of the interest earned on deposits.
How does Crescent integrate with other tools?
Crescent integrates with other tools through ACH and wire transfers, facilitating seamless transactions with other financial platforms. They prioritize security with two-factor authentication and end-to-end encryption, ensuring data integrity during these integrations.
What the main competitors of Crescent?
Alternatives to Crescent include Mercury, a banking platform for startups, and intergiro, which offers multi-currency accounts and currency exchange. Other competitors are Payhawk, a financial platform for spending management, and Agicap, focusing on cash flow management. While not direct competitors, Coupa and Xero offer related financial management software.
Is Crescent legit?
Crescent appears legitimate, offering FDIC-insured accounts and emphasizing security measures like two-factor authentication and SOC 2 compliance. A 4.6/5 rating from G2 suggests user satisfaction. However, further research is advised based on individual business needs.
How much does Crescent cost?
I cannot find pricing information for Crescent. Contact Crescent directly to determine product pricing and whether it is worth the investment for your needs.
Is Crescent customer service good?
Crescent's customer service is highly regarded by users. Reviewers praise the team's responsiveness and helpfulness in addressing questions and resolving issues, particularly during onboarding. They appreciate the quick and efficient support, contributing to a positive overall experience.
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.