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That doesn't have anything to do with financial statements. If you're Joe's Lawn Service and someone hands you money, it goes on your balance sheet. That's how accounting works, every penny gets (you know) accounted for. Otherwise how do these "neobanks" know who they owe?

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None of the deposits are on the technology company's balance sheet because the neobank doesn't actually handle any of the money. They are essentially UIs on top of APIs exposed by the bank.

If you make a deposit into a neobank, you'll have a routing and account number, but the routing number belongs to the partner bank servicing that account. If you deposit cash or a check or whatever, it goes _directly_ to the partner bank.

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