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I thinks lots of small companies with a sudden $4m influx of cash are not in a good position to open accounts at 16 banks. Now that said, there are hot money m
by sroussey 4y ago
I thinks lots of small companies with a sudden $4m influx of cash are not in a good position to open accounts at 16 banks.
Now that said, there are hot money managers that will do this for you.
- technotony 4y agoWe use a sweep account that does this automatically with us just holding one bank account
- dannyw 4y agoOpen an account at one of the biggest banks (JPM Chase, Wells Fargo, etc). You don't need 16 banks when you can bank with a "too big to fail".
- bombcar 4y agoOr open at two of the 2big2fail - the chance that both go t-bills up at the same time is very low (and the one that doesn’t go bankrupt can provide the liquidity until the other resolves).