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Opening an SVB Bank Account

3 points by taulantmehmeti ↗ HN
I'm having difficulty understanding this "SVB currently charges $25 per month to maintain your bank account and waives this fee with a $25,000 monthly balance.?" What does it mean in plain english?(especially the waiver part)

7 comments

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foobarbazetc
As long as you have 25k in the account they won’t charge the fee.

I thought SVB got rid of the startup accounts?

They jacked up our monthly fee to like $100/month and we ended up moving to Chase.

gesman
Wow.

They charge people for privilege of giving them $25k+ to reinvest at their discretion for their own benefits?

This is lol.

cascom
Administering a checking account is not cost-less. Looks like SIVB’s return on assets is 1.87% [1] implying $467 of annual revenue for the account at $25k average balance. This is probably more or less break-even (maybe it’s $200?) - point being is they lose money on small accounts...

[1] https://finance.yahoo.com/quote/SIVB/key-statistics?p=SIVB

ripalsanghani
They'll waive the $25/month fee if you maintain a $25K balance every month.
cascom
just note the that the $25k is a an average daily balance (so ~$750k in the account for 1 day a month or $25k in the account everyday of the month...)
taulantmehmeti
Thanks for the replies, since i'm outside of U.S I wanted to open a U.S bank account through Stripe Atlas.