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Let's say you're a company with well over the 250k limit on a bank account. How would you even withdraw that? Get it deposited on some other account (why trust
by ginko 4y ago
Let's say you're a company with well over the 250k limit on a bank account. How would you even withdraw that? Get it deposited on some other account (why trust the other bank more?), get the money in cash?
- almost_usual 4y agoWire it to a larger bank?
- j_crick 4y agoSell your deposit to somebody else at a discount if you’re desperate for cash.
- Ekaros 4y agoBig enough bank should be more safe as they are too big to be run. Also there is other options to hold safe enough amount of cash.
- gremlinsinc 4y agoIn a way that's kind of shitty, I mean... it's basically turning the world into Potter's ville from it's a wonderful life. I mean, we're already mostly there, personally I think FDIC should insure 1mill+ for smaller/regional banks and 0 for "too big to fail" banks that will likely just get a handout if they ever were to "be close to failing".
- yieldcrv 4y agoopen additional bank accounts at other institutions until it is under 250k per account, or simply one account at a big 4 bank the transfer should occur by wire transfer go to the institution to accomplish the higher value wire transfer, there is no shortcut if you aren't using a bank that specifically made this easy (like SVB or First Republic Bank)
- chrismcb 4y agoFirst thing to do is figure out why you have more than 250k in a bank account.