Don't Lose Access to Your Cash: Comparing Banks, Neobanks, and Fintech Platforms for Cash Savings | Money For the Rest of Us Podcast
Millions of fintech app users have lost access to their cash. In this episode, we explain why this happened and show you how to protect yourself when placing cash with traditional banks, neobanks, and fintech platforms.
Topics covered include:
- The mass chaos in the fintech space spawned by the bankruptcy of Synapse Financial Technologies
- What are FBO accounts, and why they are so troublesome
- What is the difference between a traditional bank, a neo bank, and a non-bank
- What to look for and protect yourself when investing your cash savings
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Show Notes
Fintech platform Synapse raises $33M to build ‘the AWS of banking’ by TechCrunch—Synapse
Related Episodes
424: Are More Bank Runs Coming? The Collapse of Silicon Valley Bank
412: Where to Invest Your Cash Savings for Higher Yields
304: A 15% Guaranteed Return? Lending on the Fringes of Finance
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