Thread Starter: OldeTymeBanker
Title: Re: Large Deposit
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I agree with above about asking more questions about the source of this windfall.
Some banks do offer sweeps for personal accounts, and if you have an option for a sweep invested in US Gov't instruments that could be a peace of mind solution, but it's not really common for personal accounts unless you have a wealth management department that offers such.
I can't really fathom someone wanting that amount of money just sitting in traditional bank accounts. Having said that, I do have a few wealthy clients who have CDs at every bank in town just for this reason. Seems exhausting trying to keep track of all of it.
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