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?
Mishumo
Time to Spa
Sportmax
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.
1i dont have a lot so it should still be safe
2My bank has bought up other banks, so I've got to assume it's doing OK!
3My 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.
4i 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.
5I 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!
6yes 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.
7I 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.
8I 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.
9
Is it just me, or is the teller totally flirting with the customer?
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