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Do You Trust That Your Money Is Safe In the Bank?

Do You Trust That Your Money Is Safe In the Bank?


Mattresses and shoeboxes don't have quite the security measures that banks have, yet The New York Post reports a few skeptical New Yorkers are withdrawing their funds and turning these household items into deposit places.

One of the biggest lessons the government learned from the 1930s can be seen in the formation of the FDIC, and the FDIC website reminds us that "In the FDIC’s 75-year history, no customer has ever lost a single penny of insured deposits." It would seem that this would offer consumers peace of mind, but obviously some have become distrustful of banks.

Do you trust that your money is safe?

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