Re:Yellen says government will help SVB depositors but rules...
by prepend on Sunday March 12, 2023 @03:54PM
(#35125359)
Not really. If you have 25 employees, you probably need $75-150k to make payroll every two weeks.
You would cover this through rotating receivables through accounts. And you’d likely have multiple accounts to avoid the $250k threshold.
My local bagel store owner talks about this and has different accounts for different purposes. And he banks with some national level bank and still splits money across accounts.
It’s not a good idea to have large amounts of cash sitting in single accounts.
If you have two employees then you don’t need much cash in an account at all.
You would cover this through rotating receivables through accounts. And you’d likely have multiple accounts to avoid the $250k threshold.
My local bagel store owner talks about this and has different accounts for different purposes. And he banks with some national level bank and still splits money across accounts.
It’s not a good idea to have large amounts of cash sitting in single accounts.
If you have two employees then you don’t need much cash in an account at all.