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November 8, 2016

[Video] How do I choose the right bank to deposit my seed capital? – Bobby’s Minute, ep. 48

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Contrary to what some people think, not every bank is right for money depositing. Here’s why.

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Transcript:

How do I pick the right bank to deposit my seed capital? If you have a seed around that’s bigger than half-a-million dollars, you should put a little more time into finding a bank that’s good for you, because you have an excess of capital and you might find a solution for that excessive capital to earn some interest.

I don’t know, maybe put in a deposit, even if deposits don’t earn a lot of money, at least they can cover some some fees, so find a bank that can help you with that.

Find a bank that allows you to have deposits or, I don’t know, find a bank that allows you investment in bonds. Talk to your board of advisers, talk to your board before doing that, but the thing is, the bank that you might use for a smaller amount might not be the best bank to use for a bigger amount. But, after all, it’s up to you. If you want to keep the money in the same bank that you’ve been using until then, it might not be the worst solution.

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