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Payroll company Rippling currently unable to provide funds to customers (svb related)

Posted on 3/12/23 at 12:37 pm
Posted by HailHailtoMichigan!
Mission Viejo, CA
Member since Mar 2012
69251 posts
Posted on 3/12/23 at 12:37 pm
quote:

The payroll contagion is already underway. Many companies have funded mid month payroll through a company called @Rippling
who banked with SVB. Company funded payroll, money left company to SVB via Rippling, now that money is locked up.




LINK
Posted by GeorgeTheGreek
Sparta, Greece
Member since Mar 2008
66405 posts
Posted on 3/12/23 at 12:38 pm to
Well that sucks.
Posted by SuperSaint
Sorting Out OT BS Since '2007'
Member since Sep 2007
140462 posts
Posted on 3/12/23 at 12:39 pm to
Sounds like a rippling effect
Posted by L1C4
The Ville
Member since Aug 2017
13147 posts
Posted on 3/12/23 at 12:42 pm to
I saw Roku had 500M in uninsured money in SVB.
Posted by SixthAndBarone
Member since Jan 2019
8143 posts
Posted on 3/12/23 at 1:10 pm to
Sucks for them.
Posted by bamarep
Member since Nov 2013
51794 posts
Posted on 3/12/23 at 1:36 pm to
The financial system in this country is an overly inflated bubble that started when we were taken off of the gold standard. The practice of robbing Peter to pay Paul has reached it's limit.

The gig is up.
Posted by Stealth Matrix
29°59'55.98"N 90°05'21.85"W
Member since Aug 2019
7791 posts
Posted on 3/12/23 at 1:39 pm to
quote:

Sounds like a rippling effect

Posted by tokenBoiler
Lafayette, Indiana
Member since Aug 2012
4409 posts
Posted on 3/12/23 at 1:41 pm to
quote:

The practice of robbing Peter to pay Paul has reached it's limit.

The practice of allowing free reign to a well-connected web of idiot executives is no where near its limit, though.
Posted by SloaneRanger
Upper Hurstville
Member since Jan 2014
7631 posts
Posted on 3/12/23 at 1:49 pm to
Yeah but look on the bright side. It’s been over two years since there have been any mean tweets.
Posted by doublecutter
Hear & Their
Member since Oct 2003
6574 posts
Posted on 3/12/23 at 1:54 pm to
I was told that Patriot payroll service direct deposits were held up by SVB. Also several vendor payment companies.
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