Is there a bank you can pay to have a 1:1 backing? Essentially a vault that can do Wires, ACH, Checking, etc, but for a fee?
Ask HN: What US bank post-SVB would you recommend?
31–40 of 69 posts
Re: Ask HN: What US bank post-SVB would you recommend?
#32Re: Ask HN: What US bank post-SVB would you recommend?
#33JP Morgan - it's shares went up 2,5 pct. on Friday.. Good liquidity...
We will see who is liquid after Monday and then Wednesday of next week.
Re: Ask HN: What US bank post-SVB would you recommend?
#34Re: Ask HN: What US bank post-SVB would you recommend?
#35Re: Ask HN: What US bank post-SVB would you recommend?
#36A 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.
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Re: Ask HN: What US bank post-SVB would you recommend?
#37Posting as top-level comment because my original post was downvoted a ton for some reason:
I like https://mercury.com and have been using them for a few years. 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?
#38Seems a lot of people are recommending large banks. That was one of the "fears" I read somewhere this SCB failure will give these big banks more "power". But, I also saw SVB was the 16th largest bank in the US. So going to a big bank mat not be good.
Me, I would look into local banks and do some hard work "research" and pick one of them. They tend to be more tuned into you community. Maybe a Credit Union ?
Re: Ask HN: What US bank post-SVB would you recommend?
#39A 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.
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> None of these banks will accept a risky startup placing assets
They won’t let you deposit money? Why?
Re: Ask HN: What US bank post-SVB would you recommend?
#40What about brokerages like Fidelity, Schwab, Vanguard, etc?
Are holdings in money market funds/accounts in such typical brokerages protected / owned like a security? Or should one regard it also like cash, and not FDIC insured greater than $250,000? (but while also trusting those institutions are unlikely to fail or have risky policies)