Tech Companies Need a New Bank Now. But Do You?

Imagine that the government had left SVB deposits up to fate. In that event, why would anyone bank anywhere other than JPMorgan, Bank of America, Citigroup, Wells Fargo, and the like? There’s an extremely simple answer, which I am qualified to give, because I am a reasonably normal American person with a bank account, not a venture capital-funded startup or midsize company.

All of my savings are with a digital bank that has no brick-and-mortar branches and that most people, I’m guessing, have never heard of. I have never spent a single second parsing my bank’s financial statements, and I picked my bank via a helpful series of articles about online banks on Bankrate.com. I bank with this institution because my savings account there earns me lots of interest, now more than 3.5 percent.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Silicon Valley Bank’s failure has San Antonio tech companies scrambling for cashLocal companies are trying to get their money out of the bank to make payroll and meet payments due to suppliers and for rent.
Source: ExpressNews - 🏆 519. / 51 Read more »

Silicon Valley Bank failure touches San Antonio tech companiesThe collapse of the Silicon Valley Bank, which catered to the tech industry, caused some near-misses for startups across the country, including in San Antonio.
Source: ksatnews - 🏆 442. / 53 Read more »

How the Silicon Valley Bank Collapse Impacts the Auto IndustryA few automotive tech companies had tie-ups with Silicon Valley Bank. 🎢
Source: MotorTrend - 🏆 230. / 63 Read more »

Tapping Irish Talent to Drive Tech CompaniesFrom social media to semiconductors, and from US giants such as Apple and Amazon to leading Asian players such as Panasonic and TikTok, employing more than 37,000 people and generating more than €35 billion in export revenues every year, the Irish tech sector is thriving. Tax heaven Tax avoidance That's an awful lot of words which could have been quickly summarised as.. 'Corporate Tax Haven'.
Source: Reuters - 🏆 2. / 97 Read more »