This is actually a niche industry, that provides "deposit solutions". A family member used to work at this one for example, who just put a PR release based on t

This is actually a niche industry, that provides "deposit solutions". A family member used to work at this one for example, who just put a PR release based on the recent news cycle: https://www.reichandtang.com/2023/03/12/statement-on-protecting-deposits-2/ https://www.reichandtang.com/2023/03/12/statement-on-protect... They provide up to $50 million worth of combined coverage, by splitting across dozens of partner banks into $250k chunks. Yes there are fees associated with purchasing such a service, but I'm not really sure why it's not more popular or more commonly adopted as SOP for small to medium enterprises to do this. Maybe there is a convenience or liquidity factor that I'm missing, or maybe people really didn't think the cost was worth it (but I'd guess many are probably reevaluating now, just how safe or unlikely they think a bank failure really is)?