Finance
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2
 min read

Diversify Your Company Cash

The best way to decrease the risk of losing access to your cash when your bank fails is to diversify where and how your business holds money. You should use Holdings for managing reserves but not your daily banking.

Diversify Your Company Cash

As your risk management partner, we complement your banking and help you minimize financial risks in your business.

MAR 17, 2023

The best way to decrease the risk of losing access to your cash when your bank fails is to diversify where and how your business holds money.

You should use Holdings for managing reserves but not your daily banking.

Here are some banking recommendations:

First, if you have a loan with your bank, you should stay at your bank. Unless a new bank can refinance your current loan.

Don’t get in trouble by breaking your loan agreement.

If you are a business and looking for the easiest and most modern digital experience, that may be Mercury.

I may be biased for obvious reasons, but it is truly a delightful experience.

If you think the largest financial institution is the safest, contact JPMorgan Chase & Co..

While it is not the most modern digital experience, they have a strong reputation for stability and service.

If you are a startup and want to work with a regional bank that doesn't have much exposure to other startups, explore Zions Bank in the Mountain West or Live Oak Bank on the East Coast.

Both have people that have spent their entire careers working with startups.

All of these options have the banking products you need to manage your day-to-day transactions.

After you get settled with your new bank, diversify some holdings to another partner that can offer additional protection, high yield, & fast transfers to your bank.

As your risk management partner, we complement your banking and help you minimize financial risks in your business.

Sign up for Holdings at Holdings.io.

The Holdings Team
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