[salatheel]

Have you changed your banking?

Swapped to a different bank or maybe cashed out all

accounts?

Do you feel secure and confident in your bank?

Do you think we are through the worst of the storm in the

banking industry?

Or are we just beggining?

 

[trainedtosave]

I feel pretty secure in my bank, it's medium sized. I think if it crashes, the money won't be worth anything anyways. Of course, I am not a financial adviser. "Dammit Jim, I'm a doctor, not a banker!"

 

[riverrat]

For now I think my bank is doing OK. They are one of the banks that are trying to buy up others that are stumbling. If I here info teling me otherwise, my bank is only 3 blocks away. Hopefully the fact that I keep up on things a little closer than the average joe, and my close distance from the bank would help me. Who knows what will happen next? I'm just dealing with one day at a time and tweaking my stratigy for gettting through this with as few battle scars as possible.

 

[test]

Still banking...still satisfied...but chatter on the banks going back to the days of old when they used to charge for everything (monthly fees instead of free banking), increasing NSF fees and ATM fees, maybe fees to do online banking, etc. No plans here to close accounts. When the dollar fails...it won't matter if you're banking at the Bank of Rockefella.

 

[BCWoods]

Banking

I am by no means an expert. I work for a medium-small bank that has less than 10 branches. I get my financial info from the President/CEO and the owner of the bank. These are smart people.

I have not pulled my money out of the bank. I would say that your deposits are fine because the FDIC has raised it's coverage to $250,000. If you have more than that in any one bank I would make sure it is structured properly so that it is covered or maybe put your overflow in another bank. AND, I wish I had your problem. If your bank fails and the FDIC does not cover your loss because it has failed, then the government has failed and you money is not worth anything anyway.

 

[blacktree]

I have never kept money in a bank. There is too much fiddling to deposit, keep track, get checks approved while people behind you wait in line with cash, etc.,etc.,etc.
As I mentioned in another thread, it's like having to beg and be approved to get your own money back. If you have a substantial amount in a bank, try walking in and draw it all out. They wont do it. You will have a wait and a lot of paper to get what you let them keep for you.

If there had never been a banks or credit cards this country would be in good shape from top to bottom. Live on what you have. Never borrow. Be free.

 

[salatheel]

I have never kept money in a bank. There is too much fiddling to deposit, keep track, get checks approved while people behind you wait in line with cash, etc.,etc.,etc.
As I mentioned in another thread, it's like having to beg and be approved to get your own money back. If you have a substantial amount in a bank, try walking in and draw it all out. They wont do it. You will have a wait and a lot of paper to get what you let them keep for you.

If there had never been a banks or credit cards this country would be in good shape from top to bottom. Live on what you have. Never borrow. Be free.

I believe in what you have said. IT is hard to do if your used to our society. What do you do when it comes time to pay your bills? Money orders? Bank Checks? Pay cash in person?

 

[Herd Sniper]

A lot of people who lived through the Great Depression did not use any bank at all for saving money. This is why many years ago you would read about hundreds of thousands of dollars being found in houses and in mattresses after some people died. About the only time these people used banks was to get money orders or to take out loans for big ticket purchases. They just didn't trust banks after the banks in the Depression years collapsed and they lost money to the collapse of these banks.

At this stage, I wouldn't trust my entire fortune to banks and I would only keep a small amount in a bank. It doesn't matter the size of the bank. They can all go bust overnight if conditions are right.

 

[noisynick]

I just use a bank as means to an end. It is hard er to pay bills and manage things without checks but its doable. I have been moving my cash assets and into tangibles for quite awhile mostly becasue the govt. is so Nosy about your business. It is hard to draw anything over a couple thousand in cash anymore and if you try it requires a wait (for your Money) and they behave towards you like your involved in criminal pursuits. Theres some magic number they have to report but i try not to go there.
I haven't moved banks cause there all the same.
I will say this i raise cattle and have several rentals as well and i take a discount for cash on the rents as well as when i sell calves in the fall and there never seems to be a shortage of people who want too buy and i sell 40K worth of cattle every year. not to mention about half that in rent. i did have a fella complain once to me about paying himm in cash for a tractor i bought but he still took the money so he wasn't to unhappy.
i don't trust banks as rule so i don't have much to do with them.

 

[Brimasmom]

I keep only as much money in the bank as I need to cover any checks or debits. Other than that, I don't trust banks very much.

 

[d3athp3nguin]

Edit: to answer the OP's question, my unqualified amateur opinion is that local/smallish banks will be more useful to you in a crisis than the big guys. Then again, I prefer lots of institutions to be more local.

Since I'm fresh out of college, I don't have huge piles of $$ in the bank (or anywhere else for that matter), so I'm not as concerned about moving my eggs into different baskets. I have been slowly stowing away some cash to keep handy if the banks go on lockdown or if power goes out.

One of the reasons it is difficult to yank all of your $$ out of a bank at once, is that they technically have it invested in other things (hence you getting interest.) If everyone made a run on the banks at once, they wouldn't be able to free up that much cash instantly without liquidating themselves out of existence.

The Fed can (and will) order an emergency "banking holiday" to prevent such a run on the banks if necessary. That's where having moolah on hand becomes useful.

I don't know about keeping your life's saving in the house. One robbery while you're away would be the end of you financially. Your bank account, while not always accessible in a time of crisis, is insured by the Federal Government. I don't think our gov will be dismantled and swept away anytime soon, so I'll go with bank account.

 

[tx_star]

I bank with a credit union and I hope it's safe. Do you think credit unions are safer?

 

[blacktree]

I believe in what you have said. IT is hard to do if your used to our society. What do you do when it comes time to pay your bills? Money orders? Bank Checks? Pay cash in person?

Pay in cash. It has become a stigma to have cash in our society. Some places are actually required to report you for using too much cash. It one of the signs of drug dealers. If someone says something to you about it, tell them to call the law if they think they really need to. Be sure you are not doing anything illegal.

The system is so perverted that if you use real money you are suspect. The way I see it, if you have to use plastic, you are the suspect because you probably don't have any real money.

 

[bluetrain]

I keep only as much money in the bank as I need to cover any checks or debits. Other than that, I don't trust banks very much.

Amen.....had an incident just 2 weeks ago, that changed my relationship with my small bank...only keeping enough to cover the few checks I need to write each month, everything else is paid in cash now.....

 

[test]

A lot of people who lived through the Great Depression did not use any bank at all for saving money. This is why many years ago you would read about hundreds of thousands of dollars being found in houses and in mattresses after some people died. About the only time these people used banks was to get money orders or to take out loans for big ticket purchases. They just didn't trust banks after the banks in the Depression years collapsed and they lost money to the collapse of these banks.

At this stage, I wouldn't trust my entire fortune to banks and I would only keep a small amount in a bank. It doesn't matter the size of the bank. They can all go bust overnight if conditions are right.

That is very true. When my grandmother died I had to leaf through every book she owned. I found money under the table scarves, under lamps, tucked between sheets in the linen closet, inside empty coffee cans in the pantry, inside old greeting cards, yes even actually inside of the box springs of her mattress. Everything they owned was paid for outright. She and my grandfather lived like they didn't have a dime even though they didn't have to. I strive to be just like them and I don't trust banks or the government either.