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This is the question that needs to be answered before everyone starts throwing their money at these sweep accounts. SVB offered sweep accounts. Guess how that
by qqqwerty 4y ago
This is the question that needs to be answered before everyone starts throwing their money at these sweep accounts.
SVB offered sweep accounts. Guess how that worked out for folks with money in those accounts? They lost access just like everyone else. If you had a sweep account and you needed to make payroll on Friday, you were not protected.
- chernevik 4y agoI expect these funds would have been available Monday, but I'm not a cash flow management expert and don't know the mechanics of how sweeps work.