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haleem h | If i put 1.5 millon in a bank account and the bank gets robbed is my money insured? |
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 |
 
loveholio
|
your money will be perfectly safe.
the bank will actually take a loss or it will be insured by a separate policy that handles robberies.
in this scenario the FDIC does not come into play. the FDIC will insure a depositor's funds up to $100k if the bank fails (goes bankrupt). the banks insured by the FDIC are federally chartered. credit unions and other investment institutions may be insured by other groups. |
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capollar
 |
If you had 1.5 mill, the bank is not the best place to invest your money, so don't worry about it.......... |
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CPAKeith
 |
It is insured up to $100k. (if you really had $1.5M you would know that). The risk of actually losing your money is very slim since the bank will only keep the minimum required amount of cash and your risk of loss will be spread among all account holders. |
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suresh k
|
Hi there !
Ultimately, it depends upon the bank where you have deposited !
If it a government owned or nationalised bank, safety is
definitely assured...! But if it is a co-operative bank, where the state rules do not hold good, the money is as good as gone ! or if you are too lucky, a percentage may come back to you...
Ultimately it depends upon ..how strong the bank is ! right ?
But tell me...is it a reality or just a fantasy ?
Best wishes ...! |
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Amanda H
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First, FDIC insures to a certain number....check with your bank for the exact amount.
Second, banks dont sit around with millions in their vault, just waiting to be robbed. They have a smaller amount, and if you plan to cash large checks they usually ask you to notify them in advance so they can essentially 'order' the money you need.
Third, say they do get a million in a robbery. They certainly dont turn around and say, "Let's say that's BOB'S million dollars!" |
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Too Cool For Me
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If it is in a FDIC insured bank then yes it is. But you would have show where all that money came from. |
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J
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No. FDIC insured banks only insure an individuals account up to $100,000 dollars. |
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Lade Cee
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FDIC only insures $100K, don't put all your eggs in one basket. |
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kit
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Yes. All accounts are Fdic insured. This means that if a robber robs the bank then whoever has money in an account with the bank is safe. |
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jim
 |
For that much you will have to buy your own insurance.. . |
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Hoa N
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Break it down to 15 banks with 100k each, in case one bank going bust, you get your money back with the FDIC |
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