The FDIC announced they are shutting down Silicon Valley Bank. You can read the full announcement here.
With the announcement by the FDIC, your funds are only covered by FDIC up to $250,000 per tax ID account. You could potentially lose hundreds of thousands of dollars if you have over the $250,000 maximum in one account at SVB.
With a whirlwind of uncertainty, now may be the time to pull your funds and put them into an account that can offer full FDIC insurance.
ADM offers your funds:
Unlimited deposit protection – full FDIC insurance on all of your cash
One monthly statement & 1099-INT
A team you can trust
What happens to our business deposits when a bank fails?
Read the latest insights article to find out what happens and how you can take precautionary steps to ensure your funds are safe.
Interested in learning more about how you can receive full safety for all of your funds? Fill out the form and one of our experts will be in touch shortly.
While ADM is not a bank, we work with 500 well-capitalized Financial Institutions across the country, which allows us to provide you with FDIC/NCUA insurance for all funds.
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About the American Deposit Management Co.
The American Deposit Management Co. [ADM] is a nationally recognized, award-winning, treasury management and financial services company. We have over a decade of experience working with tech start-ups and venture capitalists.
As your deposit management team, our main priority is making sure your funds are safe while maximizing interest with the most competitive rates possible.
Our proprietary Financial Technology (FinTech), Marketplace Banking™, now makes it possible for you to have access to exclusive rates from across the country through a network of 500+ financial institutions.