Question
Which banks are safest?
Interesting Question? 
(2) 
(7)
(2) (7)
Answers (1)
13th Nov 2009 by peter matthews
Any bank whose accounts are covered by FDIC Insurance provides total security for money placed with them by depositors, up to a limit of $250,000, in the event of a bank failure. In the 75 years of it's existence, no customer with funds in an FDIC insured account has lost a single cent through the failure of that bank. The FDIC, the Federal Deposit Insurance Company, was established by Congress in 1933 with the specific goal of protecting depositors money and increasing confidence in the US banking system following the banking failures attending the "Crash of 1929" that shook people's faith in the entire financial system. Care must be taken to ensure the accounts established fall within the FDIC umbrella, but nearly all checking or savings account will do so.
Any bank whose accounts are covered by FDIC Insurance provides total security for money placed with them by depositors, up to a limit of $250,000, in the event of a bank failure. In the 75 years of it's existence, no customer with funds in an FDIC insured account has lost a single cent through the failure of that bank. The FDIC, the Federal Deposit Insurance Company, was established by Congress in 1933 with the specific goal of protecting depositors money and increasing confidence in the US banking system following the banking failures attending the "Crash of 1929" that shook people's faith in the entire financial system. Care must be taken to ensure the accounts established fall within the FDIC umbrella, but nearly all checking or savings account will do so.
Like This Answer? (0) (0)
This answer is the subjective opinion of the writer and not of FinancialAdvisory.com
(0) (0)
25th Oct 2009 In Banking
1 Answers | 121 Views
Subjects: banks,
safest bank,