yea I got suspicious a few months back of whether my "neo-bank" was really a real bank cause the wire transfers used a completely different bank's name. so I just moved everything over a month ago to a credit union. so seeing this and seeing the bank that was showing up on my wire transfers as one of the companies who's stock TANKED today, I feel like I really dodged a bullet. vibes based financial decisions worked!
unless you're/they're over the $250k fdic limit individually, the biggest immediate issue is that the bank might cease operating and it will take time to get a payout. so try to keep back up funds secured at some other bank just in case, especially if it's gonna hit your whole circle all at once if it does go sideways.
https://www.marketwatch.com/story/20-banks-that-are-sitting-on-huge-potential-securities-lossesas-was-svb-c4bbcafa
Thank you. Looks like I’m good for now. Glad most of my stuff is in a credit union
yea I got suspicious a few months back of whether my "neo-bank" was really a real bank cause the wire transfers used a completely different bank's name. so I just moved everything over a month ago to a credit union. so seeing this and seeing the bank that was showing up on my wire transfers as one of the companies who's stock TANKED today, I feel like I really dodged a bullet. vibes based financial decisions worked!
o7 to the vibes
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unless you're/they're over the $250k fdic limit individually, the biggest immediate issue is that the bank might cease operating and it will take time to get a payout. so try to keep back up funds secured at some other bank just in case, especially if it's gonna hit your whole circle all at once if it does go sideways.