[kevdoran]

> Mercury is a fintech company, not an FDIC-insured bank

Funny enough, I recently opened a Chase business checking because of this "bank not bank" news: https://news.ycombinator.com/item?id=40480159

I still have a different business checking with a Mercury-like fintech provider. Chase freezes accounts, Fintech startups go under.

Chase already froze my business credit card once. I had to send them a deed of a house that I had already sold. It made little sense.

On the fintech bank side, my biggest client cannot make transfers to that account. Their payment system throws an error when they try to ACH to it. That plus the news about Synapse going under made me want a chase.

So I don't really know what to do. I now have multiple business accounts, multiple personal accounts. I want to find like a good credit union maybe?

What's clear is being in small business requires building tolerance for money uncertainty that wasn't as necessary when I was an employee.

I feel for the author. That all sucks. I enjoyed the 'Yuppie Nightmare' reference. Many thanks for sharing.

[unyttigfjelltol]

There is a middle ground called "community banking".

[badlibrarian]

Many community banks are little more than fronts for pcbb.com or fisglobal.com at this point.