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Ty Tyger | A Bank Question..PLEASE HELP ME? |
I been hearing folks saying they taking they money out there bank all day now I'm so lost & confused trying to think should I take mines out as well or not I don't know whats going on but what is the wise thing to do keep it in or take it out. |
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josh
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I wouldn't worry about it. The FDIC (an insurance backed by the gov) insures up to $100,000 per account. So, if you have under 100K you are fine. By taking money out you are actually hurting the situation by taking the money banks have to use.
If you are really concerned. Take a few hundred dollars out so that you can cover yourself for a few days. If your bank were to go out of business you would have total money and control back within a few days. If your bank goes under the FDIC comes in and transfers all the accounts to another bank or temporarily controls your bank. It only takes a few days for everything to get back in order.
As far as the depression comment(s)- there was no FDIC when the depression hit. It came about BECAUSE of the problems during the depression. So, unless the government goes under you are fine. |
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eveana678
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Only if your bank is one who is going bankrupt. Banks like Washington Mutual are having financial problems. Call your bank and find out if their one that is also having problems. If they are just be safe and remove your money. |
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ar_badboy
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This is just my opinion. Look at the headline in the attached article. If Fannie May and Freddie goes under it will cause banks to go under. They lost $62,000,000,000,000 That's Crazy
http://www.reuters.com/article/fundsFundsNews/idUSN1257757720080912 |
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?
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FDIC-- what do you do when they go broke trying to give every one their money all back? |
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Boss *****
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First find out what is going on with the bank, and if there is a valid reason to take the money out, maybe those people that have been saying that they may not like the banks policy, for example the may not like the fees, etc. |
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Lindsey C
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Until you hear that your bank is having problems or it might go under,then that's when you should worry about taking money out. |
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=)
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fdic insures 100k |
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Ben
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Your funds are insured via the FDIC up to $100,000. So, even if your bank fails, you will get any money you have on deposit up to and including $100,000 for each bank you have money in. Unless you plan to get out of the dollar and move to a more solid currency or commodities like gold, there is no reason to withdraw your money.
There isn't any reason to worry about the FDIC going broke. As a government chartered insurance company, they have access to the government's bankroll. The Federal Reserve can always print more money to make up a deficit. Of course, it'll devalue the dollar and provoke inflation, but that's how we finance everything these days anyways - and why the dollar is so weak. |
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de1ias
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why are people taking money of the bank? doesn't make sense. I would say leave it in, you're bank should be FDI insured so I wouldn't worry about it. |
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Puzzled
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Don't worry about it. Your money is totally safe with the bank, unless you have more than $100,000 in a given bank./ |
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Raul21
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Do not take your money out of the bank. It is in the safest place (fdic bank) If you have more than 100,000 keep it in several accounts. |
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Ryan M
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Just because of the stock market. your money is insured up to $100,000 |
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neece
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http://www.vindy.com/news/2008/aug/17/best-advice-don8217t-panic/
keep it in - it will probably be okay |
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carmellat922
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if you have money in there it may be a good idea, even though the banks are insured that doesn't mean anything because my grandma told me that when the depression hit they didn't have enough money to give everyone their money back so they paid .10 on the dollar. i also heard today on bbc that we america are headed for a financial collapse. |
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monkeylova_123
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You should learn how to type first
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