Skip Nav
Budget Tips
30 Wedding Favors You Won't Believe Cost Under $1
Self Improvement
39 Powerful Quotes That Will Change the Way You Live and Think
Budget Tips
10 Things You Should Buy at Target

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?

Source

Around The Web
Join The Conversation
aistea311 aistea311 7 years
:) Is it just me, or is the teller totally flirting with the customer?
aistea311 aistea311 7 years
:) Is it just me, or is the teller totally flirting with the customer?
LoveSarah LoveSarah 7 years
I trust that I will get my money from the FDIC. What I am worried about is how long it will take to get it back. I'm unfortunately in a situation where I live pay check to pay check, and if it took a couple of week, even a couple of days, I would be pretty screwed.
LoveSarah LoveSarah 7 years
I trust that I will get my money from the FDIC. What I am worried about is how long it will take to get it back. I'm unfortunately in a situation where I live pay check to pay check, and if it took a couple of week, even a couple of days, I would be pretty screwed.
layman75 layman75 7 years
I feel my money is safe in the bank. It would have to get very bad for me to feel the need to withdraw my money. The run on the banks was a major contribution to the last depression so that is last choice for me right now.
jdmxrain jdmxrain 7 years
yes for now, I think its a good backup plan to keep some money at home, but they perhaps should have a small fireproof safe (they do make those smaller for homes/apartments) inside their homes with their own combination so its safer that way.
gemsera gemsera 7 years
I live paycheck to paycheck so unless something happens on payday, im fine!I take all my money out every week anyway LOLFinally I get a benefit from being poor!
gemsera gemsera 7 years
I live paycheck to paycheck so unless something happens on payday, im fine! I take all my money out every week anyway LOL Finally I get a benefit from being poor!
ilanac13 ilanac13 7 years
i have to say that i really do feel like my money is safe in the bank right now. i feel like if people get scared and start taking money out that's when we're going to see a depression rather than just the recession and things will get even worse. i think that we need to have faith that things WILL get better and that if the FDIC has insured our accounts for this long, then we should have faith in the system. i know that it's kind of laughable to think that we should believe in a system that's failing but this is something 100% separate to the banks that are going under. personal accounts aren't affected by these bankruptcy's and i think that most people don't realize that when they start to freak out.
db1974 db1974 7 years
My bank is Washington Mutual and yes, I considered taking my money out of the bank and either putting it in another bank or keeping it at home. But Washington Mutual was bought by another large and seemingly stable bank (if they're buying instead of selling, I'm guessing they are ok financially) and I realized that I am earning much more interest with my current savings account there than I could make leaving my money at home (obviously) or in another bank. I decided to not give in to fear.
chatondeneige chatondeneige 7 years
My bank has bought up other banks, so I've got to assume it's doing OK!
haydee haydee 7 years
i dont have a lot so it should still be safe :-)
HeidiMD HeidiMD 7 years
I am not so distrustful that I am seriously considering taking my money out, but I am VERY skeptical, and I am being very cautious. Our bank hasn't been in trouble... yet.
Elizabeth Warren Has Basically Had It With Paul Krugman's Big Bank Nonsense
Wedding Compromises
Who Has Your Money's Back If Your Bank Goes Down?
Difference Between ING Direct and Capital One
Hottest IPO of 2012
Cubicle vs. Open Seating in an Office

POPSUGAR, the #1 independent media and technology company for women. Where more than 75 million women go for original, inspirational content that feeds their passions and interests.

From Our Partners
Latest Career & Money
X