Ill advised for any company to keep funds above and beyond that necessary for day to day transactions all at one financial institution when it is quite easy to

Ill advised for any company to keep funds above and beyond that necessary for day to day transactions all at one financial institution when it is quite easy to spread the excess funds across many banks/types of accounts. That is especially true when said funds far exceed those covered by standard deposit insurance. Many brokerages offer their clients the option to spread their free cash across a large number of banks to minimize risk. Excess cash could also be invested in 4-week Treasury bills, again held at more than one fiduciary agent.