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My startup banking story (2023)

(mitchellh.com)
336 points dvrp | 1 comments | 28 Aug 25 19:38 UTC | HN request time: 0s | source
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lackbeard ◴[28 Aug 25 21:48 UTC] No.45057439[source]▶
This was a super-interesting read, but I'm disappointed there isn't a description of what, exactly, was wrong about what he did, and what one should do instead. The only thing that comes to mind is the obvious one: you don't want more than the FDIC limit in a single bank account.
replies(3): >>45059247 #>>45072398 #>>45072439 #
1. dragonwriter ◴[30 Aug 25 06:46 UTC] No.45072439[source]▶
> you don't want more than the FDIC limit in a single bank account.

If the FDIC limit is a concern, you don't want to make the mistake of thinking it applies on a per account basis (it applies per depositor per institution per account class.)