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SVB's programmatic payment systems are back online

130 pointsby mattmarcusabout 2 years ago
Latest up here: https:&#x2F;&#x2F;www.moderntreasury.com&#x2F;svb-resource-center<p>Prior HN thread: https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=35113496

5 comments

churchillabout 2 years ago
I wonder why no one has said it yet but Mercury will come out the biggest winner from this mess. I can&#x27;t estimate how the traffic from SVB &gt; Mercury has been but I saw a post by Arc.tech saying they&#x27;d received hundreds of millions in deposits between 8 - 10 March.<p>Given Mercury was a more popular contender, I&#x27;m going to bet they had an inflow of basically double-digit billions.
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chatmastaabout 2 years ago
Brex and Gusto have been nagging us to setup a new bank account, but is this urgently necessary if SVB ACH is operating normally now? What are other people doing?<p>We&#x27;ll obviously open a new account eventually but it doesn&#x27;t seem urgent?
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epaabout 2 years ago
No one cares about accounting controls until they need them. Let this be a lesson to all technical founders.
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ksajadiabout 2 years ago
Their site is understandably having a rough day but you can get wires initiated.
kxterabout 2 years ago
No more small providers. Going with the big leagues going forward. Hello J.P. Morgan Chase.
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