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This workaround seems rather silly when it mostly applies to medium-sized businesses trying to get safe, stable bank accounts. FDIC coverage is too low for busi
by dehrmann 4y ago
This workaround seems rather silly when it mostly applies to medium-sized businesses trying to get safe, stable bank accounts. FDIC coverage is too low for businesses.
- JohnFen 4y agoThere are a number of mechanisms besides the FDIC that are commonly used for depositors of this scale. You can even buy your own insurance, if nothing else.
- erik_seaberg 4y agoFrom whom? A search for "bank failure private insurance" kept talking about FDIC and sometimes SIPC.
- JohnFen 4y agoCDARS is one system. A whole bunch of different systems have been mentioned scattered throughout these comments. But the bottom line is that if you really need to know what the options are, you really need to talk to a financial advisor with expertise in this level of business. They'll know what all the options are. This is a rather specialized and technical area of finance, and like most technical areas, I imagine it's hard to search for unless you know the magic terms and jargon to search for.
- ashwagary 4y ago>From whom? Lloyds and AIG will insure just about anything, they'll happily protect $x million or billion for a nominal fee.
- dehrmann 4y agoThis isn't a viable solution; AIG almost went under in 2008.