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Forum
-> Household Management
-> Finances
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amother
OP
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 Wed, Mar 15 2023, 2:36 pm
Finance mavens and predictors:
With banks going under, are local banks and online banks equally safe?
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amother
Wheat
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Sun, Mar 19 2023, 8:34 pm
1. Deposits up to $250,000 where never in any kind of jeopardy. They were always fully guarantied.
2. Even deposits above $250,000 were ultimately backed by the Fed so in the end, no depositor lost money. I don't see what there is to be nervous about especially if you are talking under 250k.
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amother
OP
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Sun, Mar 19 2023, 8:44 pm
| amother Wheat wrote: | 1. Deposits up to $250,000 where never in any kind of jeopardy. They were always fully guarantied.
2. Even deposits above $250,000 were ultimately backed by the Fed so in the end, no depositor lost money. I don't see what there is to be nervous about especially if you are talking under 250k. |
Past isnt always a predictor of the future.
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amother
Magenta
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Sun, Mar 19 2023, 8:45 pm
what is an online bank?
sounds less safe
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amother
OP
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Sun, Mar 19 2023, 8:49 pm
A bank that has no branches, that generally pays higher interest, and people use them all the time.
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