WEX Bank’s regulatory status enables it to raise capital to fund the Company’s working capital requirements by issuing deposits, subject to FDIC rules governing minimum financial ratios. See Note 18, Supplementary Regulatory Capital Disclosure, for further information concerning these FDIC requirements.

WEX accepts its deposits through certain customers as required collateral for credit that has been extended (“customer deposits”) and WEX Bank further accepts deposits through contractual arrangements for brokered and non-brokered certificate of deposit and money market deposit products. Additionally, WEX Bank holds deposits for the benefit of WEX Inc.’s HSA customers subject to the terms of a deposit agreement.

Customer deposits are generally non-interest bearing, certificates of deposit are issued at fixed rates, money market deposits may be issued at both fixed and variable interest rates based on the Federal Funds rate and interest rates on HSA deposits are as defined within the consumer account agreements.

The following table presents the composition of deposits, which are classified as short-term or long-term based on their contractual maturities:


(in millions)	September 30, 2026			December 31, 2025
Customer deposits	$	334.9		$	245.6
Contractual deposits with maturities within 1 year(1),(2)	402.9			250.0
Interest-bearing money market deposits(1)	684.8			727.5
HSA deposits(3)	4,758.0			4,200.0
Short-term deposits	$	6,180.5		$	5,423.1



Weighted average cost of funds on contractual deposits outstanding	4.02		%	4.00		%
Weighted average cost of interest-bearing money market deposits outstanding	4.03		%	3.79		%
Weighted average cost of HSA deposits outstanding	0.11		%	0.11		%

(1)As of September 30, 2026 and December 31, 2025, all certificates of deposit and money market deposits were in denominations of $250,000 or less, corresponding to FDIC deposit insurance limits.

(2)Includes certificates of deposit and certain money market deposits, if any, which have a fixed maturity.

(3)HSA deposits are recorded within short-term deposits on the condensed consolidated balance sheets as the funds can be withdrawn by the account holders at any time.