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Discover how Five Blocks turned its idle cash into a value-adding asset with industry-leading interest rates*.
3%
HIGHER ANNUAL NET PROFIT PREDICTED IN 2024
$16k+
TOTAL INTEREST EARNED IN THE FIRST MONTH
ESTABLISHED YEAR
2003
INDUSTRY
Public Relations
COUNTRY
USA
% OF CASH WITH MAYFAIR
75%
Five Blocks† is a consulting and technology firm focused on digital reputation management. It offers proprietary technology and personalized advisory services to corporations and high-profile individuals around the world.
Before partnering with Mayfair, Five Blocks didn’t prioritize earning interest on its cash. After all, interest rates on savings accounts had hovered below 0.1% through 2021 and 2022. According to Sam Michelson, Founder and CEO at Five Blocks, any potential income simply wasn't worth locking up funds at that rate. Plus, it could take days to liquidate savings, sacrificing flexibility.
However, as the economic landscape shifted, so did Michelson’s mindset. When interest rates hit 4% in December 2022, he questioned whether his company was missing out on an opportunity for easy earnings. Five Blocks was a premium customer at one of the largest banks in the US. Why was its APY so low? In Michelson’s words, “They just were not offering us short-term interest rates on the millions of dollars we had sitting in our account.”
Michelson started looking outside traditional banking institutions to find a more strategic cash management solution. That search led him to Mayfair.
“When we first heard about Mayfair, it felt like a no-brainer. It sounded like a great, seamless solution—something I’d expect from any platform I use to manage my resources wisely.”
Five Blocks had considered several options for maximizing its cash. But once Michelson saw how seamless Mayfair’s platform was to set up and use, he made the switch. Transferring money in and out is effortless, and Michelson appreciates how his team receives quick, thorough support when they need it.
The company’s only initial hesitation was around FDIC insurance limitations: this concern was quickly addressed by the Enhanced Deposit Protection Program, available to customers of Mayfair and provided by Third Coast Bank1, which offered even more FDIC coverage than Five Blocks needed. Soon after, Michelson moved over most of the company’s idle funds.
Today, as Five Blocks continues to scale and accumulate cash, Michelson simply deposits additional funds in the company’s account every month and lets interest build. When the company needs to make an occasional withdrawal, thanks to same-day ACH transfers the long wait times associated with legacy banks is no longer a concern.
“All I need to do is check on Mayfair once a week. It’s incredible to see thousands of dollars accumulate that we just weren't getting before.”
