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I think that very soon they will halt withdraws. Everyone I know already did it or is doing today. Many only had a SVB account, and need some time to open anoth

• arlcode 4y ago
  I don't have any experience, but wouldn't they be extra screwed if the bank goes down? They'll probably be in line with anybody else and being foreign makes enforcement and lawsuits so much more expensive and difficult. I guess that's a price they were willing to pay to get more favorable conditions in SV in the past as opposed to whatever they could find locally.
• jejeyyy77 4y ago
  Literally transfer the money anywhere at this point.
  • capableweb 4y ago
    You literally cannot just transfer the money anywhere if it's money meant for a business. In many countries, just transferring that money to your personal account would be illegal. And many banks won't allow you to open a business account and directly after transfer millions of funds to it, without a long process of due diligence (AML/KYC). There is also a bunch of anti-terrorism (funding) laws that might prevent things from being done in just hours, especially during the weekend as many (most?) banks are outright closed during the weekend.
    • jejeyyy77 4y ago
      Not true for the US re: moving money to your personal account being automatically illegal.
      • capableweb 4y ago
        The context is "International Startups" so I'm assuming that means Non-US startups.