A systematically important bank. They are subject to the most regulation (small, regional, and credit unions lobbied for looser rules) and have an implicit government backstop.
The top 3 are JPM-Chase, BoA, and Citi.
Ask HN: What US bank post-SVB would you recommend?
21–30 of 69 posts
Re: Ask HN: What US bank post-SVB would you recommend?
#22Does anyone have experience with https://www.brex.com/ ?
Re: Ask HN: What US bank post-SVB would you recommend?
#23Ironically, SVB, or whatever its new name will be. Like how the safest airline to fly is the one who just had an accident.
Isn't as true as you think. Some airlines have atrocious safety records, mostly they are in countries with low regulations.
Take from that what you will.
https://en.wikipedia.org/wiki/Aeroflot_accidents_and_inciden...
Re: Ask HN: What US bank post-SVB would you recommend?
#24Ironically, SVB, or whatever its new name will be. Like how the safest airline to fly is the one who just had an accident.
MH370 + MH17
Re: Ask HN: What US bank post-SVB would you recommend?
#25[flagged]
I don't know, why do you recommend that one? It also says it's not a bank, so it's not a bank.
Re: Ask HN: What US bank post-SVB would you recommend?
#26Ironically, SVB, or whatever its new name will be. Like how the safest airline to fly is the one who just had an accident.
Will it be as easy to open an account for foreign entrepreneurs as before? I'm not foreign, just heard that's why some people used SVB because the others won't even open an account for them.
I think there's some evidence that SVB UK might have been even more entrepreneur-friendly (compared to its peers) than its US parent. "Silicon Valley Bank collapse: UK tech firms at 'serious risk' from failure, warns Chancellor Jeremy Hunt" https://news.sky.com/story/silicon-valley-bank-collapse-uk-w...>, which is much more serious than anything Janet Yellen has said.
Re: Ask HN: What US bank post-SVB would you recommend?
#27[flagged]
I don't know, why do you recommend that one? It also says it's not a bank, so it's not a bank.
It's a bank wrapper, but your money is in a real bank (Evolve bank). [0]
I recommend them because:
* $1M FDIC insurance for your cash [1]
* Business banking features I use work great (paying vendors, receiving wires)
Re: Ask HN: What US bank post-SVB would you recommend?
#28[deleted]
Re: Ask HN: What US bank post-SVB would you recommend?
#29Re: Ask HN: What US bank post-SVB would you recommend?
#30If you store large amounts of money, I would recommend that you have (i) multiple accounts, and (ii) make sure the account-to-account transfer links are set up, and you've tried them, potentially with large sum xfers.
Kindof like making sure you have backups and they work.