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navigating around the 250,000 FDIC limit

Eric Koontz's Profile

What is the best way to deal with excess corporate cash and having to deal with the FDIC limit of 250,000?

Answers

EMERSON GALFO
Title: CFO
Company: C-Suite Services
LinkedIn Profile
(CFO, C-Suite Services) |

Depends on the size of your company and your usual cash levels. No matter the amount, I usually recommend having 2 (or 3) banks. It makes sense from the FDIC limit perspective and also having some bargaining power on where to put money in return for good rates. quality of service and investment options.

You have to remember that banks want, need and are competing for your funds.

On a separate note, your question also indicates that you still do not have any cash/investment policies that ESTABLISHES and satisfy your risk appetite or tolerance and also functions as a control measure.

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