Frequently Asked Questions
1. What does Zamp do?
Zamp (Varni Labs Inc) has built a treasury management platform for global businesses. With Zamp, you can invest your surplus cash in high-yield, ultra-safe US Treasury Bills with a 1 click deployment/withdrawal.
2. What are Treasury bills and what are its benefits?
Treasury bills are short term issuance of debt from the US Government; in 4 week, 13 week , 26 week and 52 week denominations.
Owning a Treasury bill is akin to lending money to the US Treasury and hence has the highest levels of safety. In the current economic environment, they offer an attractive interest rate compared to money market funds and bank deposits.
3. Where are my investments stored and are they safe?
Treasury bills are held in custody in a segregated account at the world’s leading custodian Bank of New York Mellon (and its subsidiary Pershing LLC acts as a carrying broker-dealer here). A custodian ensures ownership of each security and keeps them safely segregated, without lending them out.
4. How liquid are my investments?
U.S. Treasuries are one of the most liquid assets. You can liquidate (sell) your U.S. Treasuries during regular trading hours.
5. What are the prerequisites to open a Zamp account?
Zamp will require your company’s official formation documents, relevant tax details of the company, and the government ID of the authorized signatory; Zamp supports both US and non-US companies.
6. Is there a minimum or maximum deposit requirement?
The minimum deposit requirement is $100,000 with no maximum limit.
7. How much time does it take to get started?
Signup takes less than 10 minutes. If the documents are in place, the account will get approved within 24 hours.
8. How do I fund my account?
For inbound transactions, you are expected to wire funds directly to your account with Pershing LLC, a subsidiary of Bank of New York Mellon.
9. What would happen in the event that Zamp is no longer able to provide its services?
In the event that Zamp is no longer able to provide its services, clients will have the ability to maintain their accounts with Bank of New York Mellon Pershing.
