Prior to the regulatory actions aimed at banks that underwrite startup fintech companies over the last few years (Column, Radius, Blue Ridge etc) I didn't think startups would have to care about this, but they do. This piece covers bank portability:
- who needs it (startups issuing financial instruments)
- when to get it (when you're scaling)
- how to prep for it (get a bin, routing number, and abstracted ledger)