Re:Automate $250k balance max across multiple bank accounts
by KyeRussell on Friday March 10, 2023 @11:46PM
(#35105456)
The SV/HN cycle is so funny.
1. First, half the HN front page is filled with SVB stories, because, reasons.
2. HN commenters instantly become experts on the capital structures of financial institutions. A bunch of people find out the basics of how banks work and get caught up in the current hysteria.
3. Someone makes an app.
$5,000 setup + 0.05% annual fee (> $125)
"2. We generate a plan for your funds"
"3. Accept the plan and we start moving funds"
Does anybody want to guess what happens at step 4?
1. First, half the HN front page is filled with SVB stories, because, reasons. 2. HN commenters instantly become experts on the capital structures of financial institutions. A bunch of people find out the basics of how banks work and get caught up in the current hysteria. 3. Someone makes an app.
Like clockwork.
https://www.intrafinetworkdeposits.com/
https://smartasset.com/financial-advisor/cdars
$50M max coverage through participating FIs