Bank Dilemmas / Economy Downfall

[Jax$MkV]

So my mom took the day off of work the other day to wait in line at IndyMac Bank from about 5AM to 3PM to get her money back, and she told me she witnessed a lot of people crying because they lost all their money. I just think it effing sucks because those people worked their asses off to buy property, sell it, then put the money in their savings to gain interest... and now, to lose nearly 80% of it since FDIC only insures $200,000 or something. Damn.

Anyway, I did some research and all the banks are doing really bad mainly because of the mortgage/loan departments.

I know I don't have a lot in my savings, but which bank is the most reliable? It's hard to tell these days. I use WAMU, and I keep hearing about them closing out too. Then there's B of A but I also heard their services suck and that they are doing bad. So yeah... please share your insights. :w00t:

 

[ReflexMkV]

FDIC insures to 100,000 so unless you have over 100k in your accounts, don't worry about it. I bank with WAMU as well.

 

[MKvUltra]

B of A they must be doing good they just bought countrywide

 

[alf]

i got jp morgan chase. but im poor, so im good.

 

[rcnu71299]

i'm with citibank... but no where near 100k so i'm good

 

[davesee]

JPMorgan Chase here

 

[Jax$MkV]

Oh, $100,000 insurance from FDIC sorry. Damn. There were people that had over $600,000!!! And they only got $100,000. Holy shit, I'd flip.

 

[ReflexMkV]

That is a good reason why you don't want to have over 100k just sitting in a checking or savings account. That money should be in other vehicles like stocks and bonds.

 

[MKvUltra]

I heard somewhere that if you put multiple names on the account each person is insured up to 100K not positive though... sucks for those people, also depositing money in different accounts in the same bank does nothing to insure more of your money :frown: diversify your funds Niga

 

[alf]

Oh, $100,000 insurance from FDIC sorry. Damn. There were people that had over $600,000!!! And they only got $100,000. Holy shit, I'd flip.

right now would be to be in the business of suicide machines. ohhh yea baby.

 

[FaLLeNAn9eL]

I heard somewhere that if you put multiple names on the account each person is insured up to 100K not positive though... sucks for those people, also depositing money in different accounts in the same bank does nothing to insure more of your money :frown: diversify your funds Niga

The way that works is that you are ensured up to 100k per person. If you have a joined account with say your wife, you'll be ensured up to 100k per person; making it 200k total. Most people would spread their money into different banks so that they say under that 100k per person limit.

 

[SRTthis]

If you have over 100,000 in an account you should open an account with another bank and keep the overage there. and if that accound goes over 100k then do the same again. You are allowed to have multiple accounts with multiple banks.

 

[Jax$MkV]

right now would be to be in the business of suicide machines. ohhh yea baby.

SERIOUSLY :lol: :bonk:

 

[FaLLeNAn9eL]

If you have over 100,000 in an account you should open an account with another bank and keep the overage there. and if that accound goes over 100k then do the same again. You are allowed to have multiple accounts with multiple banks.

But if you have multiple accounts with 1 bank, they'll still only insure you up to 100k.

Sorry, I just wanted to add that. :thumbsup:

 

[alf]

or just keep it mexican next time, keep it under the mattress