It also helps you communicate with your co-workers remotely and host online events such as webinars, online clubs, or even weddings. Needless to say that it is one of the cheapest and easiest ways to stay in touch with your friends and family members.

SVB and Signature had far different client bases than most American banks, though, with Signature focused on crypto and SVB aligned with tech startups that largely had high-dollar accounts-about 93% of SVB’s deposits were above the traditional $250,000 per account the FDIC insures, a far greater proportion than most banks.Zoom video calls have huge popularity these days due to the popularity of remote work all over the world in businesses of all kinds. First Republic’s stock has continued to crater, though-declining more than 87% in recent weeks-and it has reportedly reached out to JPMorgan Chase to explore a potential sale. New York-based Signature Bank failed just days later under similar circumstances, while San Francisco-based First Republic Bank also appeared on a path toward collapse until big banks like JPMorgan Chase, Citigroup, Bank of America and Wells Fargo announced they’d make $30 billion in deposits in an attempt to rescue the beleaguered bank.

The run on SVB came after it announced plans to sell additional stock to raise funds, signaling that its decision to invest billions of dollars’ worth of deposits in government bonds backfired when the Federal Reserve raised interest rates. SVB’s collapse on March 10, following a social media-fueled bank run, has roiled the banking industry-especially some regional banks-due to liquidity concerns. The poll found 23% of American adults are considering “starting a relationship” with a new bank in the next six months-up from 15% in a February Morning Consult survey. The Treasury Department took the unusual step of letting depositors withdraw all of their money after SVB’s collapse, though, and Treasury Secretary Janet Yellen has suggested similar measures could be taken if more banks fail. insures up to $250,000 in each bank account in the event of a bank failure. Credit unions were the only institutions recording a boost in primary usage, rising from 22% to 23%, within the poll’s two-point margin of error.

Backgrounds that move