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Not urgent. With the government guaranteeing deposits, SVB might be the safest bank in America (at least for this week). I agree with others that you should be
by ladon86 4y ago
Not urgent. With the government guaranteeing deposits, SVB might be the safest bank in America (at least for this week).
I agree with others that you should be diversifying over the medium/long term, but I wouldn’t be racing to do that today.
- Alex3917 4y ago> SVB might be the safest bank in America Except for that you can't log into their website, they don't pick up their phones or answer their emails, etc.
- ladon86 4y agoWebsite is a bit flakey under load, but that's going so subside after today. I would recommend not YOLOing your money into multiple accounts today - rushed decisions are what got us here. If your immediate payroll issue is sorted, spend today and tomorrow working on a diversification and treasury plan with your team, then execute that over the next week or two. At this point, poorly configured wire transfers and scams are much more of a risk than your SVB balance going away.