Banking

Choosing the right bank for your company is a key decision. The right bank can offer valuable advice, access to credit and helpful services that contribute to your company’s success.

• Determine the types of financial services your company needs, such as checking accounts, savings accounts, loans, credit cards, etc.
• Consider the volume and frequency of transactions your startup will make, both domestically and internationally.
• Consider your banks Treasury Management services and FDIC insurance limits.
• Think about the future, will you need access to credit lines or specialized financing options?

📺 Watch session with Mercury

📖 Read Summary

• Mercury Vault offers founders enhanced protection for their deposits by combining FDIC insurance with money market funds. Customers can access up to $5M in FDIC insurance through Mercury's partner banks' sweep network, which automatically distributes deposits across up to 20 different banks.
• For amounts over $5M, funds can be moved to Mercury Treasury accounts, which invest in Vanguard money market funds composed of low-risk, U.S. government-backed treasury products, offering protection beyond FDIC insurance limits.
• Mercury's real-time insight feature continuously monitors cash across accounts and recommends actions to keep every dollar secure, such as opting into the sweep network or shifting cash to a Mercury Treasury account.

🏦 Resources

• Banking
• 📺 Watch session with Mercury
• 📖 Read Summary
• 🏦 Resources