onlycfo.io · 2023-03-12 · 1180d

Rushing to Set Up Bank Accounts

Following the SVB collapse, many tech companies are hastily establishing secondary bank accounts without implementing proper controls and best practices. The article outlines critical considerations for bank account structure (sweep accounts, concentration accounts, zero-balance accounts), fraud prevention controls (ACH filters, dual administration, wire approvals), and cash management discipline to prevent liquidity crises.

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Metrics in this report

FDIC Insurance Coverage Limit

250000USD

regulatory

Per deposit account at federally insured banks