Bingo. Anyone who has dealt with SVB knows that. And that's just the public part.
Funny how this not mentioned in the petition or any of the posts
You can find similar rates from some other banks today. It is not so hard to do when 1mo treasury bills are yielding 4.80 and 3m over 5.0%
Re:Urgent: Sign the petition now
by medvezhenok on Sunday March 12, 2023 @09:51AM
(#35120002)
It's about 1% higher than most solid/large high-yield online banks right now (Capital One 360 at 3.4%, Discover Savings is at 3.5%, Ally Bank is at 3.6%).
So I wouldn't say that you could get 4.5% from a reputable bank at the moment.
If your amount is under 250K, its insured. If not, take 1/4 (or 1/8th) of funds and place in 4 or 8 week t-bills every week for 4 (or 8) weeks with automatic roll over. On Wed those rates were 4.80% and 4.88%.
> ## Up to 4.50% annual percentage yield
> Help make your money last longer with our Startup Money Market Account. Like with a savings account, you’ll earn up to 4.50% APY on deposits — so you gain a longer runway. Certain restrictions apply.
https://www.svb.com/startup-banking