The same story could happen with any bank. You hit the nail on the head: Diversify. Don’t put more than you can afford to lose (or not be able to get to, anyway) in any single bank. And yes — that’s super difficult, especially for a small business. Consider strongly making one or more of those a small, local bank or credit union, and arrange a line of credit that you can fall back on if you get screwed by another bank until things are sorted out. Do it before you need it. PS. Loves me some Phaser, keep doing what you do.