Hi Everyone! Short post here but we wanted to give you a little peace of mind.
In light of recent news surrounding Silicon Valley Bank, we have taken additional steps to protect your money by changing banking partners. As you may or may not know, the standard FDIC Insurance Limits are $250k but at any given time we will have more than that on hand (especially relevant at the end of the month before we disburse payments to you!). For this reason, we have evaluated and changed banking partners to better protect your money in the event that a bank would fail to honor and money would be frozen.
We now bank with Mercury who recently raised their FDIC Insurance to $5 million (this is unheard of) with additional steps being taken to further protect their clients money up and above that $5 million limit with Mercury Vault.
Thank you for your consideration and trust in us!