> If a bank is giving depositors unparalleled benefits to bank with them [1], alarm bells should ring.
>[1] benefits include interest rates above average or offer to finance your start up.
Can you be specific? Which parts of SVB's offerings were suspiciously generous? You mention interest rates, so I checked their archived page as of feb 23 and found that they were offering 4.5% for their money market account. This seems roughly consistent with market offerings[1]. You also mentioned "offer to finance your start up", but is that really supposed to be suspicious? That's literally one of a bank's primary functions.
>Let me be blunt. The last place I'd do my personal banking is the local bank of a region who's mantra includes: "move fast and break things".
This feels like something that's only obvious because of hindsight. You could easily make an equally compelling case that you shouldn't bank with banks from new york, because that's the financial capital of the US, and it's the evil bankers that caused the 2008 financial crises.
>[1] benefits include interest rates above average or offer to finance your start up.
Can you be specific? Which parts of SVB's offerings were suspiciously generous? You mention interest rates, so I checked their archived page as of feb 23 and found that they were offering 4.5% for their money market account. This seems roughly consistent with market offerings[1]. You also mentioned "offer to finance your start up", but is that really supposed to be suspicious? That's literally one of a bank's primary functions.
[1] https://www.economy.com/united-states/money-market-rate
>Let me be blunt. The last place I'd do my personal banking is the local bank of a region who's mantra includes: "move fast and break things".
This feels like something that's only obvious because of hindsight. You could easily make an equally compelling case that you shouldn't bank with banks from new york, because that's the financial capital of the US, and it's the evil bankers that caused the 2008 financial crises.