3 ms·
I may be mistaken but I thought FDIC deposit insurance didn't apply to business accounts anyway.
by ams6110 9y ago
I may be mistaken but I thought FDIC deposit insurance didn't apply to business accounts anyway.
- jacquesm 9y agoThis is strongly dependent on the legal entity the OP has chosen to do business with the bank. For some of those there is no coverage, for others the coverage is the same as if the account is a private account. Typically as soon as you incorporate things change but it is very well possible that a small company that is not incorporated (basically an individual trading as a company or freelancer) does have deposit insurance. Regardless it is good practice to know exactly what the state of affairs of your bank accounts are and to really spend some time to read the fine print regarding balances and what will happen to them if the bank should go under or cease operations for whatever reason. In NL by the way DNB will guarantee business accounts as well. Example from Triodos Bank: https://www.triodos.nl/nl/zakelijk/service/veelgestelde-vragen/?faqId=4346 https://www.triodos.nl/nl/zakelijk/service/veelgestelde-vrag... (in Dutch)
- to3m 9y agoPhoton Storm Ltd is a corporation.