Comments on: What happens to your money if your bank closes? http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/ The Wesabe blog Sat, 31 Jul 2010 18:27:05 +0000 hourly 1 http://wordpress.com/ By: Communication starts with your community | TheOnlyDevice.com http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4404 Communication starts with your community | TheOnlyDevice.com Thu, 09 Oct 2008 14:37:06 +0000 http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4404 [...] Wesabe was another player to act fast when it called the FDIC (not that they were listening) to kick off a discussion about what happens to depositers’ money in the event of a bank failure. [...] [...] Wesabe was another player to act fast when it called the FDIC (not that they were listening) to kick off a discussion about what happens to depositers’ money in the event of a bank failure. [...]

]]> By: My Credit Repair http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4407 My Credit Repair Wed, 01 Oct 2008 05:37:10 +0000 http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4407 I don't have any money at WaMu, but nobody that I know would even have to worry as long as the FDIC carries through with their plan. Everything I've heard says that there's no risk to the money that is in the banks, unless everybody makes a mad run to get their money out. That's what causes the banks to crumble like a card house. (So I've heard) I don’t have any money at WaMu, but nobody that I know would even have to worry as long as the FDIC carries through with their plan. Everything I’ve heard says that there’s no risk to the money that is in the banks, unless everybody makes a mad run to get their money out. That’s what causes the banks to crumble like a card house. (So I’ve heard)

]]> By: Advance Payday Blog » Blog Archive » Communication starts with your community http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4405 Advance Payday Blog » Blog Archive » Communication starts with your community Tue, 30 Sep 2008 22:03:35 +0000 http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4405 [...] Wesabe was another player to act fast when it called the FDIC (not that they were listening) to kick off a discussion about what happens to depositers’ money in the event of a bank failure. [...] [...] Wesabe was another player to act fast when it called the FDIC (not that they were listening) to kick off a discussion about what happens to depositers’ money in the event of a bank failure. [...]

]]> By: Lisa http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4409 Lisa Thu, 18 Sep 2008 19:22:41 +0000 http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4409 Thanks for this... I'm still at a loss as to what to do as a WaMu customer, I'm in the middle of escrow on a new home and all my closing money lies in my WaMu checking. My concern is needing to access this money on a moment's notice over the next two weeks and whether this is even going to be possible 'if' something happens to WaMu in the interim. Any advice? Thanks for this… I’m still at a loss as to what to do as a WaMu customer, I’m in the middle of escrow on a new home and all my closing money lies in my WaMu checking. My concern is needing to access this money on a moment’s notice over the next two weeks and whether this is even going to be possible ‘if’ something happens to WaMu in the interim. Any advice?

]]> By: Market My Life - An experiment in making money online » Lloyds TSB Acquires HBOS http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4412 Market My Life - An experiment in making money online » Lloyds TSB Acquires HBOS Thu, 18 Sep 2008 08:00:51 +0000 http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4412 [...] What happens to your money if your bank closes? [...] [...] What happens to your money if your bank closes? [...]

]]> By: takabanana http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4419 takabanana Wed, 17 Sep 2008 19:04:46 +0000 http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4419 that's weird - I was also a NetBank customer (for a long time) before it went "down" and ING bought them out. I had zero/no troubles with anything. All of my direct deposits continuously went though (I think ING automatically notified my employer of the new information). I always had access to my account via checks (until ING decided to not allow paper checks after about 3-4 months; main reason why I moved away from ING - I need paper checks!). Now I am with Zions Bank and WaMu. Zions has a better bill pay system, surprisingly, so I use that as the primary bank - but have kept WaMu for its higher Savings and CD rates. And yes, my total deposit accounts are less than $100k. that’s weird – I was also a NetBank customer (for a long time) before it went “down” and ING bought them out. I had zero/no troubles with anything. All of my direct deposits continuously went though (I think ING automatically notified my employer of the new information). I always had access to my account via checks (until ING decided to not allow paper checks after about 3-4 months; main reason why I moved away from ING – I need paper checks!).
Now I am with Zions Bank and WaMu. Zions has a better bill pay system, surprisingly, so I use that as the primary bank – but have kept WaMu for its higher Savings and CD rates.
And yes, my total deposit accounts are less than $100k.

]]> By: What happens if your bank goes under? Be prepared! — Shining City http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4411 What happens if your bank goes under? Be prepared! — Shining City Wed, 17 Sep 2008 15:24:43 +0000 http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4411 [...] In my wanderings last night, I found this excellent post regarding what you need to know if your bank collapses. It features one person’s experience after last year’s NetBank failure and buyout you’ll find helpful. [...] [...] In my wanderings last night, I found this excellent post regarding what you need to know if your bank collapses. It features one person’s experience after last year’s NetBank failure and buyout you’ll find helpful. [...]

]]> By: Alexander Gieg http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4418 Alexander Gieg Wed, 17 Sep 2008 12:31:09 +0000 http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4418 I'd like to know whether there's something similar to FDIC or NCUA for online "non-banks" such as PayPal. Say someone deposited $2000 for an auction I sold, and as unlikely as it sounds, eBay (PayPal owner) breaks before I transfered that to a bank account. My guess is I'd have lost $2000. Am I right? I’d like to know whether there’s something similar to FDIC or NCUA for online “non-banks” such as PayPal. Say someone deposited $2000 for an auction I sold, and as unlikely as it sounds, eBay (PayPal owner) breaks before I transfered that to a bank account. My guess is I’d have lost $2000. Am I right?

]]> By: Debbie P. http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4417 Debbie P. Wed, 17 Sep 2008 05:29:44 +0000 http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4417 @Elaine Nelson, As Marc mentioned, he was a guest on a special edition of CNBC's "On The Money" tonight, which looked at how to keep your money safe during these turbulent times (a key message was "don't panic"). At the end of the show, the host asked each of the Money Experts for their final thoughts, and Marc shared the information you provided about credit union members checking www.ncua.gov. Here's a link to the video clip: http://www.cnbc.com/id/15840232?video=858544606&play=1. Thanks so much for your tip - a big part of the reason Marc has been asked to be a regular contributor to the show is the great advice and discussions taking place at Wesabe. @Elaine Nelson,

As Marc mentioned, he was a guest on a special edition of CNBC’s “On The Money” tonight, which looked at how to keep your money safe during these turbulent times (a key message was “don’t panic”). At the end of the show, the host asked each of the Money Experts for their final thoughts, and Marc shared the information you provided about credit union members checking http://www.ncua.gov. Here’s a link to the video clip: http://www.cnbc.com/id/15840232?video=858544606&play=1.

Thanks so much for your tip – a big part of the reason Marc has been asked to be a regular contributor to the show is the great advice and discussions taking place at Wesabe.

]]> By: J.G Christopherson http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4410 J.G Christopherson Wed, 17 Sep 2008 02:01:57 +0000 http://blog.wesabe.com/2008/09/15/what-happens-to-your-money-if-your-bank-closes/#comment-4410 If you are going to write articles about FDIC insurance, let's get some facts straight. To say "Never keep more than $100,000 in any deposit account. If you have more than that much to save in deposits, distribute it over several different banks," is a misleading statement. If a bank structures the accounts properly with proper beneficiaries the amount that you really can insure is limitless. Also with banks have the ability to change charters gives even more options and convenience of staying with a single bank. I am not bashing this article because you do make some good points, but my question is have you really studied the fine print of FDIC? If you are going to write articles about FDIC insurance, let’s get some facts straight. To say “Never keep more than $100,000 in any deposit account. If you have more than that much to save in deposits, distribute it over several different banks,” is a misleading statement. If a bank structures the accounts properly with proper beneficiaries the amount that you really can insure is limitless. Also with banks have the ability to change charters gives even more options and convenience of staying with a single bank. I am not bashing this article because you do make some good points, but my question is have you really studied the fine print of FDIC?

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