4 ms·
When you give a bank your money you become an unsecured creditor to the bank. It really isnt your money at that point. Talk to the folks in Cyprus who had 10%
by geggam 9y ago
When you give a bank your money you become an unsecured creditor to the bank.
It really isnt your money at that point. Talk to the folks in Cyprus who had 10% taken off the top
- jacquesm 9y ago> When you give a bank your money you become an unsecured creditor to the bank. In quite a few places there are central bank guarantees against bank failures. Usually with some kind of cap, 100K or thereabouts.
- geggam 9y agoAs a follow up here check the solvency of the FDIC... .250k per account and the highest number of accounts it insured that it can cover was 1.5% according to what I can find The other 98.5% are out of luck... great guarantee